The original Big Boy steam locomotives, built by the American Locomotive Company (ALCO) between 1941 and 1944, cost about $265,000 each at the time of production.
Adjusting for inflation, that amount would be roughly $4.5 to $5 million in today’s dollars.
It’s worth noting that Union Pacific’s Big Boy No. 4014 — the one restored to operating condition in 2019 — required a multi-year restoration estimated to cost several million dollars, though the exact figure hasn’t been publicly detailed.