The value of the modern US dollar is an interesting topic. It is one that can be very subjective. A dollar is simply a piece of paper without faith and trust in our government/economy. The only reason a dollar has value is that the people believe in it and are willing to accept it as a form of payment and are fairly confident that it will always be this way.
The dollar used to be backed by the gold standard and the silver standard, however today it is not backed by anything.
The value of money is whatever we decide it to be and it is always changing due to inflation. I think a better way to describe the value of the dollar is to look at its purchasing power as an index over the years.
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