No one is immune to inflation—not even the tooth fairy.
Instead of the traditional quarter (or $1, for particularly lucky kids whose “fairies” couldn’t find any change in their wallets), the average price of an under-pillow tooth is now $3.70.
The Huffington Post reports the findings from a survey conducted by Visa, which uncovered a 23% increase over last year’s average tooth fairy trade—42% higher than 2011.
The explanation for the cost-per-tooth increase is simple: Moms and dads are scrambling to save face. Parents don’t want their kids to receive less money than their friends and classmates, so they’re upping the ante.
These days, dental dividends range from $1 to $20 per tooth, with one family getting creative and giving their daughter a note saying that $100 had been placed in a college fund for her. Not exactly the best gift for a kid, but the investment also came with a promise that if she brushed her teeth faithfully for a month, then she’d receive $20 to spend as she wished.
It looks like losing a tooth is no longer the inexpensive rite of passage that it used to be. And the major cash that kids are getting is probably giving them more of a reason to show off their toothless grins.