Original: After the nephew died without heirs in 1835, President Andrew Jackson informed Congress of the bequest, which amounted to 104,960 gold sovereigns, or US$500,000 ($10,100,997 in 2008 U.S. dollars after inflation).
Simplified: After the nephew died without heirs in 1835, President Andrew Jackson informed Congress of the bequest, which amounted to 104,960 gold sovereigns, or USD 500,000 ($9,235,277 in 2005 U.S. dollars after inflation).