GOLDBACKS - Should YOU Be Buying The Goldback?

[@tucsonbubba1574]

I bought 1,5,10's a few weeks back. They were so far beyond any image I have seen, that I immediately ordered the 25, 50's. They are worth it just for the art. Stunning.

[@deannemckee5081]

I agree, I gave them for Christmas presents - they were so beautiful!

[@michaelmohrle1773]

They are worth it for the art I bet, if baseball cards and stamps and posters can be worth big $$$ I'm sure artwork with gold in it will be worth some serious $$$ in the future.

[@superdad-ls2id]

I actually used goldbacks to help as a teaching aid in a class i teach up here in economics...its amazing how Well people pay attention amd understand better once they actually can see and hold one...I even handed one to each in the class to keep and help get them started...im still debating wether to continue using the godlbacks or something else...but so far these help...more than half my students actually started buying these...so people do like these...personally I've given most mine away or traded them ...just not my thing...but I can see why many stackers like them...and when I took a class vote 63% preferred these over actual coins or bullion...and I was surpruaed by that.

[@aedressler]

Interesting info. Did they prefer the goldbacks as they fill a wallet better than a pocket full of jingle-jangle? Thanks for sharing :)

[@superdad-ls2id]

@@aedressler eveyone liked them... But who doesnt like a free goldback lol...but about half actually ordered more so id say it was a success

[@aedressler]

Your students are lucky to have you.

[@superdad-ls2id]

@@aedressler thank you

[@SilverDragons47]

wow that is very cool! what a great teaching tool! 🐉

[@gatonaranja2258]

This answers my question of how modern commerce could be conducted with actual gold backed currency. Crypto is nice and all, but really, physical cash is king. Goldbacked cash ensures that currency's value since it's backed exclusively to the gold market. This was really helpful. Thanks for sharing this SD!

[@EntrepreneurialMindset]

I bought a complete set plus a lot of the “1s” for gifts when they first came out. The are also pieces of art.

[@SilverDragons47]

very cool and yes they are for sure! 🔥🐉

[@Delilaah57]

Too bad they do not ship to Canada, as I just found out. Not on MoneyMetals anyway. They don't consider them builon and will only ship pure silver/gold builion.

[@Sheridantank]

They are beautiful. I've gotta get some.

[@renerivera5096]

That's Kool man I was thinking the same they will make great gifts

[@mikemace3379]

@@Delilaah57 thats a bummer.

[@MrFriskyWhiskey]

So Willy Wonka's Golden Ticket becomes a reality.

[@SilverDragons47]

lol yep there you go 🔥🐉

[@robertsanders339]

Haha got to love it

[@mdredheadguy1979]

LOL! Nice reference!

[@shanazbuhariwala352]

@@SilverDragons47 I like your show very interesting I would to ask you two questions are these goldbacks used only in Utah or you can use other states Why is the Mexico libertad twice more expensive than the American eagle in Canada sliver gold bull

[@ArthurVega1992]

@MrFriskyWhiskey 💯🎫🍫

[@strange-universe]

Some info I got today from Goldbacks: Yes, the gold is recoverable as the Goldbacks can be melted down (the plastic burns off leaving just the gold behind). Early on one of the Goldback employees accidentally washed and dried a 5 with their laundry and it came out wrinkled but no gold was lost, and there was no heat damage. Folding the Goldbacks will leave a crease in them, but does not damage them materially. As such we do not recommend that individuals fold them and we created a custom wallet so that individuals could carry them without folding them, but the value does not decrease simply because they may get creased.

[@SilverDragons47]

yeah they crease for sure but so do fiat bills. they will never get graded 70 after a fold either 🔥🐉

[@roryross3878]

@@SilverDragons47 Oh no, imagining the cost of grading something with so little gold value and such large premiums out of the box.

[@mostthoughtprovoking1494]

@@LatimusChadimus Would fit nicely I'm sure in a biker wallet

[@meanjab]

The exchange rate is much higher than melt. Thank God lol

[@JamesTsividis]

Woohoo!

[@geezlepuss7863]

The main problem for me now w/ goldbacks, is the very high markup in the gold over spot. I am not willing to pay 70% over spot for gold. Until the markup over spot becomes low, I will probably prefer 90% silver coins.

[@SilverDragons47]

yeah junk silver is cheaper typically as far as premiums are concerned. but these are a good option as well for SHTF bartering and no one is saying you can’t have both 🔥🐉

[@scotts1356]

I totally agree. The premiums are insane and it's a horrible investment vehicle.

[@michaelsinaloense6449]

Anyone who is just looking at the high premiums and saying no I would say this. If you are watching this video you are likely a stacker and likely you appreciate beauty in metals. You probably are also expecting and hoping for the day we get away from fiat funny money. The one dollar is only three dollars or so and purchasing one or two is not going to break anyone's bank. Just skip that morning coffee. It is a great way to support the movement and I guarantee you will be glad you did. These things are absolutely beautiful and cool to show to friends and family.

[@bansnabs5523]

But bro , I need that 100 oz gold bar to avoid that premium

[@hixbilly2430]

I was aware of these but I never thought I would want to own 1. You just did 1 hell of a show so now I am going to grab a few of them

[@rb7997]

Good video! I started buying goldbacks about 6 months ago. Before that, I had several troy ounces (and partial ounces) of gold and silver. But I don't want to be carrying around bullion -- it's bulky and heavy. So I traded in all my gold and silver bullion for goldbacks. For my purposes, goldbacks are the perfect solution. They're compact, have nice artwork and are REAL gold! I highly recommend goldbacks for anybody. Yes, some people just prefer bullion and I understand that. But goldbacks are definitely worth investigating.

[@xymoriintus]

You're lying 💯

[@StrongStacker1]

SilverDragons, they are pretty! At least they are worth more than the paper of fiat! Very cool. Thanks for sharing.

[@SilverDragons47]

yes worth much more than fiat! 👍🏽🔥🐉

[@subproc05]

I remember your reaction to the goldback on the coast to coast show and was a little surprised. I'm glad you investigated them and determined their true purpose. They aren't for stacking due to the premium, but their utility as a currency is amazing. Technically, you can even pay in fractional goldbacks since you can easily just cut them in half or quarters. Also, I like that they are different sizes, which is a common problem for blind people using regular US cash. A lot of thought went into these designs to make sure anyone could use them.

[@SilverDragons47]

yeah after taking with the founder I realized that I completely misunderstood their purpose 😂🔥🐉

[@Baseheart73]

I just ordered about 50 of these for Christmas gifts...they are Beautiful!

[@garettcastle2335]

I just discovered these things. They are super cool! I was blown away at just how fast they sell off the internet retailers.

[@jrtjonathanwinchell3955]

When I first bought the goldbacks I wanted to hold it like gold & silver and buy it for the design series. I also like the durability of the goldbacks because the printing process of the fiat $1 currency is three cents because its paper in addition the goldbacks printing process is electroplating which is a higher value and well worth to buy.

[@7Hellzz]

Banknotes that are actually backed by the precious and finite material which they are mode of. This is brilliant !

[@donnabailey5132]

I love them. Living in Australia, but from the states, this is an easy way for me to get gold sent to me. Have close to 1000 already.

[@THECRANKYONE]

Excellent video, as usual. My son is graduating from college in May. I have not been able to give him a gold coin like I wanted, as for health reasons,with post heart attack and college bills, I am pretty much just getting by. Still blessed! A set of these will make him a gold owner after all. Thanks for the great info and idea!

[@fiatdestroyer9716]

Very well done, SD! Glad to hear you finally getting on board with the goldbacks!🔥🔥🔥🔥🔥🔥

[@SilverDragons47]

yes i’m a believer now 😁 thanks for watching! 🔥🐉

[@andrewcomments5812]

Great video! I bought some of the New Hampshire, Nevada, and Utah goldbacks! Also bought some for my father as a random gift! Better to swallow the pain of the large premiums now than not have this excellent currency for bartering when you really need it if (god forbid) all hell breaks loose in the economy somewhere down the line.

[@sirdingmydong2107]

Honestly, I just want one of each goldback for display purposes mostly. They are more official looking than our official currency lol. Nice conversation pieces as well.

[@Harleyrider2010]

I bought 10 of the 1 New Hampshire ones for around 43 bucks. Mainly just wanted to keep for my kids later down the road. Plus they will gain value as long as gold goes up

[@xavierclayton9990]

I have eight of the 1 goldbacks and one 5 goldback. Started back in 2019. Very unique.

[@SilverDragons47]

very cool! you are way ahead of me! 🔥🐉

[@TrendableClothes]

My uncle is the CEO of gold back Jeremy Cordon he told me about his company and I got some of the original designs I knew that his business was successful but I didn’t realize that like they actually were popular

[@NayokeHenji]

your uncle is awesome, I'm jealous of you!

[@TheItalianoAssassino]

I would honestly hang these on my wall as a decorative piece. Would be a conversation starter for sure. 😂😂

[@teatowel11]

Metal notes is a pretty cool idea. I'd never pay that premium or accept them as payment for more then a 30% premium over spot. So it seems to me they need to really improve their manufacturing efficiency and their margin on these if they want them to be used rather then just collected. Constitutional silver is a better option for fractional amounts of previous metals for bartering.

[@SilverDragons47]

yeah I do like my junk silver... lower manufacturing costs would be good for sure but idk if that is possible 🔥🐉

[@teatowel11]

@@SilverDragons47 Most things reduce in production cost with scale. I'm not very familiar with electroplating so I'm not sure either.

[@SilverDragons47]

teatowel11 it’s actually vacuum deposition... I said it wrong in the video. it’s hard to scale 🔥🐉

[@FuzzyDan]

Wow. I had never heard of these. They’re pretty darn cool. I’ll try and snag some with my next silver buy.

[@SilverDragons47]

they are very cool for sure! 🔥🐉

[@floridastacker]

I don’t see the sense in buying things I know my local coin shop wouldn’t buy - interesting video & I’ve been wanting to know more about them! Thanks SD!

[@tachometer-flac]

obv scam imo

[@stackingpoints417]

Yeah I know what you mean I prefer really liquid stuff things I can take to my lcs or even a pawn shop in a pinch and sell

[@SilverDragons47]

yeah they are more for the prepper types not the stacker types it seems 👍🏽🔥🐉

[@kingneutron1]

Just checked with my LCS and they won't deal in "goldbacks" at all... Hmm

[@RMokros]

The coin shop will not take them.

[@LisaAnn164]

OMG! GREAT IDEA👍👏! I just purchased some $1s today. I will DEFINITELY purchase more in the near future☺! Thank you for posting this!👍👏👍👏

[@ryanbrennan3228]

These things are true works of art. Very gorgeous.

[@chrissahar2014]

My first impulse is to consider buying some --- and I find the premium is fair albeit much higher than if you bought fractional gold. People complain of the 70%+ premium but then you go ahead and calculate the cost to create the product with the artwork. You will find that premium is quite reasonable. Or let us take a simpler experiment. Buy American Innovation golden dollar coins - the 100 coin bag to save the most on the premium - from the US Mint. The cost per coin is about $1.17 for a dollar coin. Not bad as these will be in uncirculated condition. Now let us say you want to make some money back on your purchase. Well, figure a nice 1.5 hours to go through them all to find the top 2 or 3 for your collection. Then you go through the rest and take out those of the worst quality say 7 - 8. You now have 90 coins. You decide for economy sake to sell them in 2x2 flips. So you search for flips for small dollar coins. Purchase them - probably get 100 for $3. Then estimate shipping - say .85 cents per coin. Well the initial cost of the coin has risen from $1.17 to $1.17+.85 cents shipping+ .03 for a flip= $2.05 per coin. And you have not even factored the FULL amount of time you have put in - say about 3 - 4 hours to go through the coins, order the flips, take photos and organize what you will keep, spend and sell. So let's set your hourly wage at $25/hour and total prep about 3.5/hours. So figure about $90 you should be paid for this ( and this is before you choose a sales platform and finalize a sale from an interested buyer). We have our coin at $2.05, we have 90 coins to sell and you are paying yourself $90 for the prep work you have done. So let's add $1 per coin for labor for a subtotal of coin+production costs+your time= $3.05. Of course the coin's bullion value is 5 cents but this is just selling a non-precious metal coin that targets collectors of not for circulation coins at potentially modest or low mintages. If you sell on ebay add 10% for potential fess - therefore your coin and costs to sell it = $3.35. You aim to make $1 profit so you have to sell the AI dollar at $4.35 (higher if you choose to encapsulate i)t. This is approximately in line with what ebay sellers offer for the 2018 P AI Dollar - www.ebay.com/itm/2018-P-D-American-Innovation-Dollar-Golden-Signed-Frist-Patent/223768374302?hash=item3419a26c1e:g:wHUAAOSwqctcYb37 So, consider the production costs for the Goldbacks and the technology they use to create it, one which the US Mint is not even using. Think too how much they appreciate the rise in gold --- that is where their profit is primarily coming from because to produce such a note with the technology that allows the gold dust to STAY and employing the latest polymer technology is probably one with high production costs. Plus although these are gaining traction - 200K was mentioned in the video, it is still not at the point that the production costs are so greatly reduced to drop the premium below 70%. But if that were so, the mintage would be quite a bit higher and its potential numismatic value diminished. So, I would not even consider the premium as this is a specialized product which requires advanced production methods. I think the best way to look at this is as one commentator alluded - think of its potential numismatic value down the road. I would consider this something like a 21st century Trade dollar or an update on the attempts in the 80's to do a cruder version of a goldback. The things going for it are 1) the quality of the note is very strong and attractive 2) compared to the production rate of US currency it is low 3) it possesses cutting edge technology that uses what has been going on abroad but with an additional twist of adding gold that does not risk shedding off from handling. 4) Other states are interested in using this so there is more room for variety and even potential errors cropping up over time if the goldbacks have legs. The things going against it are 1) the artwork although beautiful is not original but a reproduction or at least based on 19th century designs making it a little old-fashioned to some 2) gold prices left to free market forces is more volatile than a government set price as was tried for over a hundred years with mixed results but at least avoids the problem of the goldbacks - how do you barter something which someone may not feel is trustworthy as its value may have them at times to hoard the bills when gold skyrockets or reject it for barter when the price drops. Furthermore, history has shown that gold mining operations have shut down when gold has gotten too low --- what will happen with the production of goldbacks? 3) the fact Colorado and Nevada are doing this is a mixed blessing - it shows its popularity BUT it also shows that the potential of getting currency of some rarity may be passing 4) and finally there is some risk of the gold delaminating when exposed to high humidity - especially the $50, that is why sites offer special leather wallets to hold them. Also if a bill gets worn out there is presently no chance of getting it replaced ... this can be a problem in its use for barter and for holding onto it for bullion - I got this info from goldback.com FAQ - goldback.com/the-faqs. Numismatically and the beauty of the product, I would buy them. But considering the job landscape and the price of volatility of gold this is neither a good product for one stacking or prepping --- there are better products out there. For now I am on the fence about this product - as something to collect I am more for it.

[@Redswhiskey]

Very cool! I'm pretty new to stacking and I've never heard of these. Thanks for the heads up! Will be looking into these more!

[@SilverDragons47]

thanks for watching my friend! 🔥🐉

[@goldenpawlife]

WOOHOO....official UTAHAN here. In 2011 Utah made gold and silver LEGAL TENDER, and what is great is that there is no capital gains tax on Gold and silver minted by the US Gov and the GOLD BACK....

[@SilverDragons47]

very cool! I wish all states would follow 🔥🐉

[@eagleheart2203]

Fascinating. So you said: backed by gold. As in, the value of these bills stays with the value of gold? If so, that would make an insane investment given where the dollar is going

[@AndersAylward]

They are "literally" backed with gold. Turn them over and you see the gold captured in filament. It actually creates the picture in the front in negative

[@pugowner1347]

Very pretty. I have a few. Bought the set $1, $5, $10, $25 and $50. I also got some Silver Dragons while they were available. However, the premium makes them cost too much to justify buying any quantity. I'll stick with coins until it's financially feasible . Both gold and silver.

[@50srefugee]

Good discussion on buying these as currency rather than as stacking coins. I just bought a tenner ("Justice"), my first gold purchase ever. I like these because they're within my budget--I can buy one with each paycheck, and not put a hole in my budget. They're easier to store and hide than coins would be. I admit, though, having lost my precious metals cherry, I'm going to be looking at silver coins as well. Technical nit: These are not gold plated, which is an electrolytic process.They are made by vacuum deposition, in which the gold is vaporized at high heat, then condenses on the polyester substrate, like moisture from your breath forming frost on a window pane. Hot argon atoms press the gold atoms into the substrate to more permanently bond them. [I am not personally familiar with this process; information gleaned here'n'there.]

[@surfinnstackin328]

i've always seen these and wondered what it was all about. Thank you for the great explanation and super rad!!! just grabbed some myself from apmex : )

[@SilverDragons47]

awesome! i’m glad I could explain them well. 👍🏽🔥🐉

[@shauna8623]

Each has a really good story. Each lady stands for some aspect of hope or freedom

[@Jason-vn5xj]

Any precious metal barter currency is a good idea. At least to have a little on hand; stacking or not. Should your fiat currency suddenly collapse, you want some portable money that won't lose its value (especially if you need to cross a border). Big azz bars of silver are nice for holding onto, but its good to have something quick and easy that's valuable anywhere too.

[@SilverDragons47]

yeah they are a good idea to have on hand for sure! 🔥🐉

[@astralclub5964]

Pretty and inventive! I might buy one of each and frame it as a semi-artistic political statement.

[@SilverDragons47]

Sound Money Arizona out of stock now... 🔥🐉

[@SilverDragons47]

that would be cool for sure! 🔥🐉

[@SilverTreasures]

I can’t wrap my head around 20 of the 50’s actually weighing a troy ounce. I’d have to see it to believe it

[@mrtrapper93]

Thank you Silver Dragons for sending me your one of a kind Silver Dragons silver certificate, just beautiful art. Thanks again!

[@xymoriintus]

Those are more expensive then the stupid goldbacks lol 😣

[@seapirate65]

I buy Goldbacks cause of the nice artwork & I plan to use as Tips at good sit down restaurants. Great video.

[@b.sharp.]

Very interesting idea! Do you take it upon yourself to educate your waiter or waitress so they don't think you tipped them with monopoly money?? Lol

[@seapirate65]

@@b.sharp. no I don't take the time to educate anyone that I Tip with GoldBacks. If they don't want to spend a whopping 10 mins online looking up what a GoldBack is, well not my problem.

[@b.sharp.]

@@seapirate65 into the garbage it goes then

[@seapirate65]

Yea..I know I'm wasting good Tip money on Uneducated America's. But think of all the junk we daily throw away.

[@seapirate65]

I'm going to do a Social experiment [ starting jan] I'm going to Tip in my fave Restaurant here in Minot.( a Silver Dollar).should be interesting if any reaction.

[@redcreektex316]

Goldbacks are to be used in trade. Used them at our local farmers market and for dinner today. The local spread is in the 4-5% range. Plans are in the works for two more states.

[@Lisa-qs1xd]

Very cool. Thanks for sharing. Never have seen before!

[@Silver_Coin_Outdoors]

I misunderstood like you did Silver Dragons & thought the same thing. Now knowing their intended use I may buy some. These would make great gifts for anyone.

[@SilverDragons47]

yep I completely had it wrong! they would make awesome gifts! 🔥🐉

[@CyrusOfNaias]

This is a great idea and I think it can be used to drive enthusiasm for non-fiat money

[@markmartinez8973]

This is the future.

[@myrongunnar1518]

I can't get enough of them! My whole family/friends have a keen interest in them! More than coins and bars, which is so wrong! Also, my preppier buddies are all in on these!!

[@SilverDragons47]

oh they are great for prepping no doubt! 🔥🐉

[@stevo271]

@Questilquatl Quetzal junk silver all the way

[@seapirate65]

@Questilquatl Quetzal no you can't spend GoldBacks as real money other than at quirky Farners markets. Try spending at Target & see what happens...ha

[@JarodM]

Thanks for the information, great overview, much appreciated~

[@piecesofeight]

Have I got news for you: Goldbacks have found a place here in New Zealand on our local internet market TradeMe, and currently asking about US$6 for one Goldback. In light of your critique here in this video, I'm seeing an anomoly several thousand miles from those four states. Maybe it's novelty-value as a gift is at play here; for getting kids interested in stacking. The heirs of my stackcollection are 10 and 11 yrs old right now, so at xmas I'll be giving them a Goldback each and see their reaction. I have 8 x One Goldbacks, but I might get a couple of state sets. I hope they do a few more states. The artwork is excellent, and the whole product looks durable, so......................................we shall see. Best video I've seen on Goldbacks so far. Thanks mate.

[@considerthetruth]

I like that these cannot be counterfeit. If we have to barter, fake silver and gold coins could become common since most people won't verify the coins they exchange

[@bigtank1982]

I got the free one and that will be the only one I get. The premiums are ridiculous! The only use would be if you are in a place that actually take these as trade. Totally not for stacking.

[@SilverDragons47]

correct not for stacking but still a cool better money! 🔥🐉

[@samcartwright6338]

Took some 1 dollar gold backs to the strip club and when they asked what I was doing I started to tell them about how our currency isn’t backed by anything and these are better cause they’re are backed by the gold they’re printed on... they kicked me out.

[@kingredskin4318]

🤣😂🤣😂

[@tucsonbubba1574]

Makes sense to me..their value is in the gold + manufacturing cost. It does cost to make 1000 goldbacks rather than a 1 oz coin. Plus that cost is passes on and on, so long as the goldback is in GOOD shape. I would not accept a mishandled goldback.

[@justacinnamonbun8658]

Thanks for sharing, I've never heard of these before. I like the concept, no doubt, my very first concern was the durability, they didn't look too durable, but they're obviously coated with something. To be honest, these open up more questions for me than anything, I mean, if no one accepts these as currency because most people don't know what it is, it may just be a waste of money (and gold) and relegated to just being a novelty item you can frame on the wall. But the idea is pretty clever, just bake in the precious metal into the actual currency 😆 that pretty sick. I'm sure whoever created these is on the Federal Reserve's watch list.

[@justacinnamonbun8658]

@Sound Money Arizona TY! I'll check it out.

[@justacinnamonbun8658]

@Sound Money Arizona I rewatched the video, I just noticed it says "gold coin" at the bottom 😆😆😆 I guess article 1, section 10 never does specify that the coinage has to be neither round, nor that it can't be flat, it never specifies the thickness, I see what they did there. 😉 So "technically" it's legal, would be great if these were made for a consortium of states that are like close together, like for example "west coast" goldbacks could be used in member states like WA, OR, CA, NV, etc., the "New England" goldbacks could be accepted in NH, VT, ME, MA, RI, NY, etc. There's no way a business here in Jersey will accept those. At least not to my knowledge, but definitely a conversation stater for sure. I might order one of each denomination, I'll read more about them later. I'll tell you one thing, I'd trust these more than any crypto currency any day 😆.

[@SilverDragons47]

i’m glad I could share them with you! they are extremely durable and I like that they contain gold 😁 they are accepted anywhere that will take them for barter. 🔥🐉

[@alexdodd5175]

@Silver Dragons could you please cover "how to check authenticity" of these? They are bragging about "unique technoloigy" it in the FAQ. Still, no size/weight specs like those of regular coins. Anyway, a dedicated "security features of goldbacks" video would be very welcome, I guess.

[@dirremoire]

Alex Dodd , I was the wondering the same thing. I wouldn’t worry about the little guys, but the 50 goldback note would definitely be worth the trouble to fake.

[@SilverDragons47]

you have to look at the serial number and match it to the serial number on the back. They appear very hard to fake but obviously anything is possible 🔥🐉

[@alexdodd5175]

@@SilverDragons47 neat. Still, it would be nice to have a video on that matter. The topic deserves it, in my opinion. Also it would be cool to see some boldback melting/poring action. As far as I remember, you had a few videos like that for some silver coins. P.S. Thanks for your hard work at delivering insightful content. Highly appreciate. P.P.S. What I've written above are just a bit of "viewer's feedabk" and a few "ideas for future videos". Of course, you are the one to decide "what to do with your property" ))

[@Kbelcher101]

Would much rather have '64 & before Roosevelt dimes, but that's me.

[@SilverDragons47]

I LOVE junk silver in my pocket... these would be in the wallet 😂

[@jordanjames8864]

Me too, I like to collect these though

[@stevo271]

The goldbacks are neat, but i agree. I personally prefer mercury dimes over fdr's face.

[@TheLaw365]

UPMA.org is the best place to get them at spot price. You add dollars to your account and can exchange that for goldbacks at the current exchange rate.

[@MrThe1234guy]

As spot price?

[@TheLaw365]

@@MrThe1234guy at goldback spot yes

[@geezlepuss7863]

@@TheLaw365 What the heck is "goldback spot"? Spot is spot.

[@SilverDragons47]

yes alpine gold is the same as UPMA in that you can get them at the current exchange rate 👍🏽🔥🐉

[@SilverDragons47]

Geezle Puss it’s the current exchange rate which is spot plus premium 🔥🐉

[@SecNotSureSir]

This video wasn’t even three minutes in and I was already in the process of buying 100GBs.

[@michaelmohrle1773]

I like them, my misunderstanding was 1 , 5, 10, 25, 50 meant that is their value in dollars. So the price for the items would be adjusted for them if you use them to purchase something.

[@bobpadget5106]

I just found out today, that the next Goldbacks are going to be Wyoming, my home state. Definitely getting them.

[@michaelsinaloense6449]

I have bought several , primarily to support the movement and they are very beautiful

[@seanmchugh9194]

a lot of people hate these but the 1s and 5s are cheap and its beautiful art

[@robertwalker8453]

I think that your description and short expose' on goldbacks is spot on. Especially in these uncertain times, there will be a further surge in the purchase of this currency. I will not be surprised if more states jump on the band wagon. Wouldn't it be something if nearly 1/4 to 1/3 of states actually have or will allow goldback currency over the next few years? I have been accumulating some of this from month to month because at some point probably with in the next 20 years it is estimated that the USD will no longer be the world's reserve currency. When that time comes the goldbacks will hold their value and then some. If and when the financial infrastructure built on the USD implodes having traditional gold in 1/10 to 1 tOz amounts will not be practical unless you are making large trades. I have explained the production premium to many people, because people often want to look at a goldback as a traditional medium for stacking and it is not intended for that as you astutely pointed out. The $1.10 plus 10% of spot premium for making each note is really a good deal given the level of security and technology that goes into making them. And there is nowhere on the market one could find a reliable hyperfractional product that is anywhere comparable. In fact the 1 Goldback note is manufactured at a loss. The production premium is not lost when they are used to purchase a good or even exchange back for USD. It is only the value of the gold that floats according to spot. The only ways you would lose out totally is if the price of gold went to zero or dropped precipitously and never recovered (unlikely) or you destroyed the note and melted it down for the actual gold, which would defeat the purpose of the note.

[@bradmiller9993]

Such a cool idea! Thanks for making a video on this.

[@SilverDragons47]

for sure and you are welcome! 🔥🐉

[@ericsingletary2603]

Agreed I thought they were just pretty at first but I see their value as an alternate currency

[@SilverDragons47]

yeah much more utility there for sure 🔥🐉

[@RealChaseB]

i'll be buying the nevada ones, these are such a cool gold item. i love 'em!

[@RealChaseB]

especially love the "veritas & justitia" on the bills

[@SilverDragons47]

yeah those are epic for sure! 🔥🐉

[@TomokosEnterprize]

I get some similar bits of gold when I need to top up an order for free shipping. Over the years now I have A LOT of them. Not sure how many but there are a lot.

[@SilverDragons47]

yeah those small add ons are very fun for sure! it does add up!!! 👍🏽🔥🐉

[@TomokosEnterprize]

@@SilverDragons47 After this I counted mine and I have 60 now over 4 + years

[@bullionaddict9164]

Dragons I've watched a couple of the other channels in the past do videos on the Goldbacks but I think you've explained it where people may actually understand their true purpose.

[@SilverDragons47]

thanks so much! I really tried to explain their exact purpose 👍🏽🔥🐉

[@dubasciver3234]

The other question I have is how will others trust it’s integrity in a bartering situation? Most people will say: what is this? Great video.

[@chekoz77]

Saw them online, came to KZbin. First video was yours. I'm like..."Well if Silver Dragon has some I might as well grab a few too". 😂 Thanks!

[@Licherous]

With the fed printing money like it's going out of style; I think it's a good idea to have some around.

[@joelvaldez476]

Yes a 1 ozt Au is hard to barter with. But that is why their is Ag also. At 70% premium for those, I think Ag is a better option.

[@SilverDragons47]

yeah you could always have both 🤷🏽‍♂️ I love my junk silver haha 🔥🐉

[@noicue8078]

I bought a pack of 10 ones just for fun. I like the way they looked they were the Utah. I ordered a 50 Utah, and was going to send it away to a friend as a joke. After this video, I think I’ll keep it. Lol. Great video, thank you. 👍

[@ngantnier]

I really hope these catch on.

[@someoneyoudontknow7407]

I wouldn’t mind picking some up. I like to frame cool currency’s and demonetized bills. They look nice hanging on the wall: I want to pick some up for sure. Nice collection.

[@SilverDragons47]

yes they are great for collecting for sure! 👍🏽🔥🐉

[@jennahenry4426]

I picked up a 20 pack of 1's last week. I just ordered a few of the 25 notes. Going to order some 5's and 10's this Friday.

[@SilverDragons47]

that is awesome! lastly you will have to get a 50 to finish off the series! 🔥🐉

[@jennahenry4426]

@@SilverDragons47 we plan on buying a few $50 notes 😊

[@50srefugee]

Problem: The US Mint tests their paper currency by crushing it in a metal tube with a hydraulic piston, making a little pellet. Unfold, and repeat. This simulates years of wear and tear on hand-to-hand currency.The main effect is to soften it. It remains perfectly legible. I've tried this using PVC pipe, a dowel rod, and a hammer. Goldbacks crumple permanently. Worse, shining a light through a creased GB shows that the gold film has torn and cracked within the plastic. It looks like random lace, although no gold is actually lost. It's just that the plastic stretches across the creases, while the film cannot. Also, because the film is reflective, the printing becomes almost unreadable unless you are careful with the lighting. (The ink itself is still intact.) By accident, I've washed and dried US currency many times in my life with no visible effect. The GBs, even the crushed ones, also survive washing in a normal load (white towels, with hot water, detergent, and bleach, then dried; repeated twice) with no problem beyond some minor creasing; I haven't seen any evidence that water infiltrates the plastic, or that the ink is affected. In a propane torch, dollar bills burn. GBs melt--the gold, of course, is still there, and the melted portion curls away from the flame. Mind, I like GBs because I can (and do) buy some with each paycheck, and build up a little easy to hide, and easy to carry wealth. And I'll be carrying a few singles, maybe even a fiver, in my wallet to spend and spread the word. But I predict they will not become a popular currency until they can be crumpled. (I wonder if this internal cracking problem can be ameliorated by depositing the gold as halftone dots. That way, cracks won't propagate. Of course, that would make manufacturing more expensive. Ah well. Early days.)

[@lcuevas]

Thanks for the great explanation! I picked some up just to have them because they are cool.

[@SilverDragons47]

they are cool for sure! thanks for watching! 🔥🐉

[@RBYW1234]

It is a really good idea when you consider bulk. You get a deal with you buy in quantity. When you buy individually, the price goes up - 1 g of silver = alot vs 1 oz -Id sell at .05g at a time if I could.

[@SilverDragons47]

yeah always better to buy in bulk 👍🏽🔥🐉

[@kona887]

I got my first one yesterday!!!!! It was the only one in the coin show!

[@DiceAdventurer]

At 70% premium, I think I will pass. I did get the 1 free they were doing for a while.

[@SilverDragons47]

at least you got one! the premium is added to the gold spot price to create the exchange rate 🔥🐉

[@Gregoman89]

Silver Dragons the rough part is you lose that rate when you go to sell them.

[@ngantnier]

Really that isn't unreasonable. For such low denominations manufacture is a large relative cost. If you can buy 1oz coins though obviously that's a better deal. These make gold easily acquirable by basically anyone.

[@benjaminshaffer7762]

the premium is a lower percentage as gold prices rise because the manufacture (minting) cost is flat even as gold rises in value. for actual currency the premium is actually very low, and I've never traded or sold a Goldback for less than I purchased it for. If anything the high demand and beautiful craftsmanship means that in many instances you can sell them for significantly more than the exchange rate.

[@lce839]

The art work on them are so pretty.

[@matthewholbrook1265]

These are increasingly becoming more popular

[@btchitsda_wizardemoji]

I just brought a set .. I can’t wait to see this should be good for beginners looking to invest in gold currency

[@GhostDiZ]

Hell yes been searching for this answer

[@barywilliams3653]

This is the answer to a question I have had for years! Goldbucks. You can buy basics or larger items. Amazing. I HOPE THIS TAKES OFF. HOW ABOUT SILVER BUCKS FOR DAY TO DAY ITEMS. Great ideas, hope you are very successful!

[@EricStPierre]

New to me. Nice looking notes. At least they are backed by something. In this case actual gold!

[@SilverDragons47]

yes and it’s right there in the bill not somewhere else! 🔥🐉

[@ONEEileenColts]

To only reason to buy them at a %70 premium is to hold on to them until their value goes up above the premium BEFORE using them as a currency. Otherwise it's like burning money for the sake of seeing gold.

[@melissaholt5036]

I got a free gold back today and I LOVE it!!! (I had to earn it but it was worth it)

[@RockThaMike]

Great intro into goldbacks as I’m new to this

[@xymoriintus]

🐑🐑🐑

[@fiathedge89]

Lifetime circulation would be interesting. Foldable to put in pocket etc. challenges and breakdown of product

[@SilverDragons47]

yes that’s a great video idea for sure! 🔥🐉

[@matthewblankowski2265]

This is unreasonably cool

[@raptorgames9]

They are very popular. Sold out in a lot of places. Got some off Ebay today.

[@seclusionworks7547]

I have 15 in my collection since they are beautiful. I am a silver collector since AG is my primary interest.

[@Nerdpainter]

we really should switch to this as a currency.

[@dark_winter8238]

Ron Swanson would love these

[@atruceforbruce5388]

I like the historic throwback art found on these. so much better than todays gumby dollars. if I was spending them I would feel as if what I had was value.

[@sanfordsons2403]

Nice artwork 😎👍

[@Lowrider-th2dg]

Great video!! Much love 💘

[@SilverDragons47]

thanks for watching my friend! 🔥🐉