Halakhah sur Ketoubot 1:12

Applying these rules to the contemporary situation is far from simple. The value of the ketubah as set forth in the Mishnah (Ketubot 1:2) is exceedingly low by contemporary standards and hardly serves as ample means of supporting a woman in case of death or divorce. According to Rav Moshe Feinstein (Teshuvot Igrot Moshe E.H. 4:91-92), the Ashkenazic ketubah is valued at one hundred pounds of silver, which in January 2008 amounted to $21,870.⁵For alternative views regarding the value of the ketubah, see Techumin (25:180-194). Indeed, Rav Hershel Schachter (at a conference of the Council of Young Israel Rabbis) articulated⁶Rav Schachter told me that Rav Yitzchak Herzog already made this point more than fifty years ago. the need to update the value of the ketubah, but there has been no movement to implement his suggestion.