Does the Goldback Actually Solve Any Problems?

In this video I talk about the Goldback and look at problems that the Goldback might solve. There are a few issues when is comes to Goldbacks and I think that highlighting solutions to real issues that gold regularly faces is a good way to talk about these problems. The Goldback currency is a fractionalized currency that is made out of gold. The "1 Goldback" contains 1/1000th of a troy oz of 24k gold. Some of the negative things about the Goldback are seen as deal breakers for some people and seen as strengths for others. Are Goldbacks worth it? That depends on who you ask. I hope that this video looking at 5 problems that the Goldback may solve is helpful to many of you. Below is my video on stacking Goldbacks
Should You STACK the GOLDBACK?
• Should You STACK the G...
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Topics I cover in this video: Goldbacks, Goldback, 5 problems Goldbacks, Goldback problem, Goldback problems, issues with Goldbacks, Goldbacks worth it, are Goldbacks worth it, Goldback value, Goldback issues, Problems with Goldbacks, Negative things about Goldbacks, Why invest in Goldbacks, Why buy Goldbacks, buying Goldbacks, should I buy Goldbacks, utah Goldback, nevada Goldback, new hampshire Goldback, Goldbacks wallet, Goldbacks currency, Goldbacks utah, Goldback utah, Goldbacks value, what are Goldbacks, should I invest in Goldbacks, should you purchase Goldbacks
#Goldback #Gold #Goldbacks

[@jboyette]

Gold backs are gold I can afford. I love them. They store easy, carry easy, and they were an affordable way for me to get some gold. I love silver but I wanted to diversify my metals and this has made it possible for me.

[@bombsawaylemay770]

I like the idea of using Goldbacks as tips, a very subtle way to spread the message.

[@SilverDragons47]

yes indeed spread the word! 🔥🐉

[@beeks919]

Uh, aren't tips in restaurants usually split between wait staff and others, like bussers? How do you split a goldback? ✂️

[@kitkat47chrysalis95]

@@beeks919 person A give 1$ to peron B, person B pockets the gold person A and person B can negotiate the 1$ to a higher or lower amount depending on the consensus of how much they think its worth. likely one of them will have access to the internet and a fair price can be agreed upon its the same as splitting a 20, one person pockets the 20 while giving 10 to the other person. worse case scenario they can make a deal amongst themselves such as rock paper scissors or for example one person takes out the trash at the end of the shift in order to receive the rare tip

[@beeks919]

@@kitkat47chrysalis95 sounds like that's going to be wildly popular and bound to catch on soon.

[@flipnap2112]

true. I do it with silver rounds. I explain to them exactly what it is and always get a surprised and inquisitive "oh really?"

[@seclusionworks7547]

I bought Goldbacks out of curiosity and when they arrived, I was amazed to hold them in my hand. The artwork, sheen and the mere fact they are gold.. it blew my mind! I believe if they are the future when the dollar tanks, they would rise in their value. If that doesn't happen, they are still beautiful to look at!

[@tucsonbubba1574]

Very good video. The misunderstanding many people have is with the manufacturing cost. It is built in to the goldback price and is always carried forward, so long as you haven't manhandled it. There are always people who can turn anything into crap, but I only accept nice crispy goldbacks for their published value. It would be nice if things were priced in goldbacks instead of dollars so we don't have to convert from goldbacks to dollars. But the dollar would have to be totally worthless for that to happen. Thank you for you great video!

[@ReelX4U]

I brought a few of the “New Hampshire Goldbacks” a couple years ago even though I don’t live in that state, but it is the closest to me in the “U.S. Northeast” in different denominations as a novelty. But you make some valid points about owning “Goldbacks” as to be used in the form of currency. I think from now on every time I place an order with an online dealer I will include at least one “Goldback Domination” in my order, who knows after the great reset, they might be in great demand, maybe the U.S. Government will start endorsing their use as actual currency. It’s a long shot, but anything is possible.

[@davidortiz3094]

I stack them. Gold is gold & be exchanged for any fiat around the world.

[@roryconnor]

Goldbacks were the first gold I ever purchased. I'm obsessed with them now lol

[@SilverDragons47]

that is awesome 👊🏽🔥🐉

[@trackpackgt877]

Yeah I carry a few in my wallet just to have gold on me the premium on them is high but if that is the only gold you buy you're better off than somebody holding dollars!!

[@lynnybogard9371]

I need to confirm who you are sorry I get a lott of scammers and it usually starts with contact me on what's app if you don't want to that's cool just announce me as the winner next time you air something

[@johninphx9360]

Gold backs were an afterthought for me. My gold goal is 20 oz. And I decided to get 1 oz in goldbacks. I'm buying only 1 bills . I'm up to 400. Lol now I'm pretty sure I'm going to get more then 1 oz . I love these things.

[@hestjensen3876]

Completely new to me, its a brilliant idea, and no problems with different premiums and spreads. This could be the future.

[@SilverDragons47]

I think it could be the future as well! 🔥🐉

[@johneast6101]

It’s not going to be the future because it doesn’t make the establishment any money or give them any more power in fact it’s going to give them less so they’re not gonna let that happen

[@RebelStacker]

Just got my first stack of Wyoming goldbacks. These things are AMAZING. Great video, SD!

[@exeterbeekeeper]

sounds like a great idea. will take along time to catch on

[@lifeisshort-makeitsweet869]

I am obsessed with these! The art work is incredible. I find waiting for the Wyoming and possibly South Dakota GB to come out very hard. I am a patient person, but I just love these!!!! I am going to try using them at my local hairdresser my next visit. Should be interesting.

[@carmanmurray754]

I love the GB and own a bit. (Waiting for WY to come out) But the premiums are outrageous. If the premiums would come down and more actually got out into the market and were fully exchangeable it would be great. But currently they are not really exchangeable. 1 GB premium is quiet a bit higher than a 50 GB on most on-line sites as well as my LCS. That makes for other opportunities, but as far as use as a real world currency, more hurdles to overcome.

[@simplepreparedness]

You made some really good points. I have a few because I think they’re really interesting. Good to see you talking about them and raising awareness. I know a few people that think they are just a waste of cash. To each his own. Enjoy the videos and I’ve learned a lot from you.

[@silver-sheepdog]

Very informative! I appreciate your insight. Both a novelty & yet practical. What A Great idea as gifts!!

[@jrtjonathanwinchell3955]

These goldbacks are not novelities because if you live in Utah it can be used. I personally like the art of it whether it's Utah, Nevada, and New Hampshire a gorgeous design.

[@SilverDragons47]

and many more states to come! 🔥🐉

[@farnsmark]

I believe Wyoming this summer

[@farnsmark]

@@dudewhathappenedtomycountr9099 it is still in its infancy, there is a list of merchants that accept it. The legislature made them legal tender so you could pay sales tax (state) with them. I like the fact it has intrinsic value. I spoke to a jewelry manufacturer and they put sticky pads under their buffers to catch the fine particles of gold dust and then send those to refiner so the gold in them is retrieve-able.

[@Lvaladez114]

I hope to be able to purchase the 1st Texas Goldback 🥰

[@thesarge4457]

Great vid. Very informative. Thank You sir.

[@erickisel8668]

@Silver Dragons: I really like these and wish I had a set for each state. Not really for stacking but more for collecting although you make some excellent points. I enjoyed the video and would love to learn more about them.

[@SilverDragons47]

thanks very much and there are a few more states coming out soon 🔥🐉

[@EveyBee]

I have a Goldback that I won from Silver Dragons Auction giveaway! Thanks again SD 👍

[@SilverDragons47]

you are very welcome! 🔥🐉

[@uuuggghhh808]

Great perspective

[@robertwalker8453]

Once again, you’re knocking it out the park with disseminating good information and educating people about Goldbacks. Unfortunately, people are still looking at Goldbacks as a collectible or a novelty not as a functional currency. They also relegate the value a Goldback to the spot price of its gold content rather than a monetary technology that creates tangible and substantive additional value to the gold content. Keep up the good work.

[@smobach]

I live in the Netherlands. I really love it.. In fact i've ordered some Goldbacks. It is brilliant. I'll hope the idea comes over here to the Netherlands.

[@SilverDragons47]

it would be cool if they were worldwide for sure 🔥🐉

[@christophergarland2266]

That is probably the best video I've seen describing goldbacks, their advantages and the problems they solve. Thanks for a fantastic explanation. Considering them a bit more, but still don't see them as extremely functional unless we get on some kind of normal money exchange using precious metals. But, good way to start getting gold. Was wondering, how liquid are these with LCS's? Would you get a decent amount bsck on them?

[@4ninefine199]

Another thing I appreciate about Gold Backs is the COOL Factor 😎 The Artwork is amazing and has a very Old World feel. They are simply beautiful pieces of Art !

[@5ivestring]

Well you sure made my eye brows go up with this video. I thought collecting would be easy..... wrong. But it's still fun.

[@5ivestring]

Tried to contact you, but didn't happen.

[@SilverGoldStackAttack]

It’d be great if these caught on. More novelty than anything right now.

[@DeckadeNemo]

The premium is almost $10 more then the current value of the 5 goldback right now. Way to high to start them now imo.

[@SilverGoldStackAttack]

@@DeckadeNemo - Agreed. I only bought a few because I liked the design, and it was something different.

[@kivie13]

@@DeckadeNemo Premiums are not an issue if you have a UPMA account

[@DeckadeNemo]

@@kivie13 whats UPMA? I am new to this whole thing. Just started stacking a month ago.

[@kivie13]

@@DeckadeNemo Take a look at Alpine Gold and it answers everything. I can't reply with too much because KZbin keeps deleting my comments because I think the algorithm thinks I'm spamming.

[@sergeant_t2020]

I've ran into problems of vendor's either not knowing how to use the GB's or not having the correct app, and again not knowing how to use their app for GB. Everyone wants to sale GB's, but won't/can't exchange them. So until the bugs are worked out, I'll hold onto my GB. 🧐

[@SilverDragons47]

that is strange that they want to take them but don’t train their employees how to do it correctly 🔥🐉

[@rachelcody3355]

thanks for the video. I think the biggest hurdle for the GB is information. people never heard of them and many get the impression it's just a collectable. I think in time more people will be open to the GB as more people and dealers embrace it. It may take a decade but I do expect to see these in circulation in all 50 states eventually. Especially, if the fed does away with cash.

[@StackingSurfer]

Just ordered a set of Utah Goldbacks. Can’t wait to receive them.

[@jpdurr]

That "Glitch" is called Arbitrage

[@toastedundereasy]

So can you fold them without damaging them like dollars? And how well do they fly when thrown?

[@krauthead4]

I think they're cool and an inexpensive way to build up your ownership of gold. Even if they do not catch on, I like the novelty of them, and if they go by the wayside, they should go up in value just for their rarity. I wouldn't put a lot of money into them--yet, but it's worth buying some to see where they go.

[@ryansquires5098]

I'd love to buy a few of these as collectables, and as gifts, but I am having trouble finding them. Anyone have any idea on where I can buy them in Canada?

[@Arthamus]

Hey unrelated question what is considered a normal premium percentage on 1oz silver coins?

[@fastwesley]

Love your videos Silver Dragon. The real question is can you use these on everyday items? Like for an example, buy a cup of coffee at Starbucks? Or maybe by a hammer at Home Depot? Right now, I think it's a novelty but I hope one day we can start using gold bucks as everyday currency. Cheers.

[@whitefang351]

I had thought I might use them...see if anyone would accept them. However, now, I would rather hang on to the gold...and just spend the worthless fiat paper. These GBs will appreciate with gold as the fed reserve notes depreciate. I still may try to spend a few but I would hate to give them up for everyday purchases.

[@wigstone75]

Are they different sizes even in same denominations? For intanace the Utah 1 looks larger than the Nevada 1 I have a couple of.

[@hollowlighter572]

I buy for prepping and mostly gifting

[@meanjab]

My friends and I love these. Even in Northern Cali I've found Quite a few places that willl take them. The more ppl who buy them and use them the faster it's growing. They've even had to delay releasing the Wyoming gold back because demand has been working them to the bone

[@xephael3485]

11:00 think you're wrong about the premium on smaller bills being more than one big goldback. Although it's not super substantial it does exist

[@SilverDragons47]

no look at many of the online dealers that sell them at reasonable prices it makes no difference which denomination you buy. also when you spend them the denomination does not matter either. for example go to moneymatals.com and look at the prices 🔥🐉

[@kivie13]

Premiums are not an issue if you have a UPMA account

[@charlesseekssilver2985]

Also, do you have a link to purchase them online that is specific to you?

[@SilverDragons47]

I do not unfortunately sell them I just buy them haha 🔥🐉

[@charlesseekssilver2985]

@@SilverDragons47 apologies. Didn’t mean that you sell them.

[@Musique3579]

I would be inclined to think that for now, about the only way that a Goldback could be faked would be if it were to be "an inside job." As for expensive machines that test metals, perhaps in the near future these will be coming down alot in price. When it comes to testing Silver, I have seen demos of a faked Silver coin actually "passing" the machine test. Horrors! Luckily, there is a "Ping Test" to check-out how well it rings. For now, and at something like 25.00(?), simply owning the "Ping Test" should do it for most of the 1 Ounce Silver Stackers so that they can feel safe.

[@SilverDragons47]

I love doing the ping test on silver it sounds so good 🔥🐉

[@Musique3579]

@@SilverDragons47 Ha Ha Ha. I know. It is fun! :-)

[@jefflarson4982]

I like the look of the backs

[@EMT_Rick]

Collecting the whole set. Doubt they'll ever catch on mainstream, but they're still cool as hell

[@victory3788]

We need Silverbacks too!

[@Charlieslaw]

Aren't the premiums on these more than the premiums for the smallest amount of gold you can buy?

[@meanjab]

About 80% premium but they trade at the goldback exchange rate which is always higher. You'd only have to melt out the gold for spot if you got into a time machine AND went back before English speaking anD\OR before the idea of Currency

[@James-xu3vc]

One issue rarely addressed is "dilution through distribution"

[@danielroy8232]

I think it is possible to counterfit these. you just need to find a buyer who doesn't know what to loook for in security features. it doesn't need to be a good counterfeit

[@anthonygonzales1027]

Well in a way is it worth more than a us dollar because of the gold inside of it ?

[@farnsmark]

Utah legislators made them legal tender just recently.

[@social3ngin33rin]

fun collection because I don't spend them :P many good argument points :)

[@chrisbytwerk3712]

Could someone tell me what the 1, 5,10,25,50 goldbacks would be in dollars ? 💵

[@scott.m.thacker]

Prices would always have to be a whole number because of not having proper coinage to give back.

[@whitefang351]

For now, you can take your change in base metal coinage or fiat dollars.

[@canuckinsk]

I feel like this video should have a relationship disclaimer.

[@michaelmohrle1773]

They should make these in silver too, really cool collectable wether it takes off as currency or not. This is a great idea.

[@flipnap2112]

my opinion. Theyre a great item for their beauty and specialized function. I would never stack them, but own a handful as "art pieces". When the government fully goes to CBDC they will outlaw all other forms of "money", including bitcoin. Unless states secede from the union you wont be allowed to use these. Now, if we get to that point it will be an underground thing (sort of like paying under the table is) and people will accept silver rounds just as easily. the premiums for goldbacks are through the roof and NOBODY will want to melt these things down for the gold. I take mine to my neice and nephew to show them what "real money" is and explain the gold in them and how it used to be. If youre hedging against hyperinflation or the CBDC stack silver rounds. if the SHTF then well have a lot more to worry about, but the dollar wont just be devalued, it will be cancelled and anyone trying to use fiat will be thrown in jail.

[@natemr4482]

Great video brother thanks for the info

[@moneysaversilver]

Problem number 6 there's only four states that make them so can you use them anywhere else besides those States

[@Ninja-tech]

Another issue is that even though Valrium makes a maple leaf lamifoil they don’t ship or sell to Canada.😒

[@martyhanson1902]

Love the concept but, The problem I have with GB is It’s Not Legal Tender ! I’m sure we can find mom&pop retailers in Red states willing to accept them, but are we able to spend them at Lowe’s or Walmart ?? Can I walk into the public utilitys office and pay my gas bill ??

[@joshbrowngmt400]

I’m more of a collector so I doubt I could bring myself to ever spend one if I had the chance to. In that aspect I’d prefer a gold coin. Would like to own a couple just for my personal collection but aside from that I can’t see spending one. But I also live in a state that doesn’t have or support these(as of now at least). Fair points and great ideas nonetheless.

[@MALICEM12]

The anti counterfeit technology in the GB reminds me of the artificial owl in Blade Runner

[@TheWarnickthree]

Where is the best place to buy a goldback?

[@SilverDragons47]

there is a list on goldback.com just buy from whoever has them the cheapest 🔥🐉

[@cephasmartin8593]

Another problem is that the value of gold can fluctuate ... sometimes wildly. Is a vendor going to keep up with those fluctuations? I bought four ounces of gold when it was about 1750 including the premium. Now I'm up about 100 bucks per ounce, and it wasn't that long ago that it almost reached 2000 dollars. That's the biggest problem I see with the gold backs. I stack silver and gold because I'm a prepper and if SHTF happens, I'll have something that will retain its worth. It also keeps me from spending my savings foolishly ... like on booze and wild women.

[@benjaminshaffer8753]

I don't see any of that as instability in the value of gold, that is just the instability of the dollar. And as for your gold and silver coins, if SHTF what are you going to do with them? no one can verify if they are real or counterfeit in a situation like that, and what if you need food? or fuel? will you trade someone a whole ounce of Gold for what you need? that sounds like a good way to end up spending $2k for $100 worth of groceries or gas... I'd much rather have Goldbacks.

[@KCTShark]

Cheers

[@cutlerylover]

I think they are cool but I also thin k they will be a collectible when one day they just stop making them...I dont see them being used on a mass scale unless the US did it and they would never offer real money to us in fact they are trying hard Im sure to go digital so its easier to steal out money from us, lol...But as much as I like the idea I dont think it will last just because of they have the highest premium of all gold products outside of some rare collectibles, if they could offer these very close to spot for gold at any given time with very little premium then yeah I could se it taking off a being the next big thing but these have been around for a while now and I dont know anyone who owns a significant amount of them yet....

[@ryansmush2942]

I love them and collecting them for my kids

[@scallywagdon1662]

Would you say having gold backs for stacking to be a good idea?

[@byteme0000]

No. They are a novelty item and are way overpriced for the amount of gold they contain. It’s just like paying the ridiculously high premium (as a percentage) for 1/10-ounce gold eagles as compared to just saving up and buying the 1-oz coin. The “premium” for such a tiny amount of gold in the goldback makes it a terribly bad investment.

[@MrThe1234guy]

Stacking no, but for a local currency absolutely. If they are accepted as legal tender they have a fixed exchange rate.

[@SilverDragons47]

if you watch my video on this topic you will see that they are not for everyone… BUT if you did stack these along side other gold bullion you would have done much better with the Goldbacks compared to pretty much anything else 🔥🐉

[@farnsmark]

My thinking is- it’s about the only gold I can afford! At $3.75 each it is pricey per oz. however when Gold hit 10k even a small investment will bring a good return and yes you will still own physical gold

[@whitefang351]

I think so, a small denomination like this commands a premium. I had considered trying to use them but now I think I will just hang on to them and spend the fiat dollars while they are still accepted. As gold increases, the GBs will too. We'll see what happens. Have some Au and Ag coins first, I'd say...then branch out into these.

[@01jhm143]

I bought some for my grandkids

[@jeremydoggett5005]

I have seen more videos against the Goldbacks but it's apparent that these do have a place. Those that own some will probably be better off than those who shun them.

[@awakenotwoke4830]

1/10th has high premiums. Goldback, "hold my beer "

[@trackpackgt877]

I want to see someone put the gold back on the sigma machine it's 999 gold shouldn't it test I don't know I don't have one of those

[@EveyBee]

I got to meet JaySilverBull over the weekend and watch him pour, he’s a very cool dude! Was a great time!

[@SilverDragons47]

that is awesome! 🔥🐉

[@6handicap604]

Goldbacks have some of the advantages that you state, but I contest the statement that they are fungible. They are only fungible with themselves, but not with other forms of gold. I ask, would you trade 1,000 goldbacks for one gold eagle? I think not, yet they are both one ounce of gold. At the current $3.63 per goldback, you would pay $3,630.00 for one ounce of gold. Is that fungible with a one ounce gold eagle worth less than $2,000.00? That is about a 55% loss. In a monetary system of metals, all coins are fungible. In our history, no one had a problem trading 4 5 dollar gold coins for one 20 dollar gold eagle, or for one once of gold in any other form. same with silver coins, no one had a problem trading 2 quarters for a half dollar, further, no one had a problem trading 20 silver dollars for a 20 dollar gold coin. All forms of metal money were fungible with all other forms and also with equal amounts of metal in any form. Goldbacks are not fungible with other forms of gold, only with themselves, which does not comport with the definition of fungibility. If one form of gold would not be traded equally with another form of gold, it is not a fungible form of gold. People can believe and do what they will, as for me, I will not pay $3.630.00 for one ounce of gold that is at $1820.00 spot per ounce.

[@bdub3871]

So wouldn’t the price of the Gold Backs fluctuate due to the price of Gold? Or do they always stay at the face value?

[@anonymousAJ]

Well the amount of gold doesn't fluctuate, but the dollar's ability to buy gold certainly does fluctuate

[@matthewlewin5536]

What is considered face value of a gold back? It doesn’t have a dollar value but rather a “goldback” value. So your answer is that it will fluctuate with the price of gold and that will yield however much 1,5, or 10 etc. goldbacks are worth.

[@whitefang351]

The face value of 1 Goldback is 1/1000 Troy Oz of gold.

[@tonypittsburgh9]

Ignore the premiums. The fact is th dollar could be worthless in the not so distant future, these will retain purchasing power

[@danielroy8232]

something I don't like is that they only true way to verify the content is to destroy the bill. IF I have a coin I can do the electrical test and a specific gravity test. but with this, you have to believe that no one has figured out how to counterfeit it.

[@matthewsantillanes194]

We need every state to accept these as money

[@WFStudios]

Personally I don't think that goldbacks are something you want to buy for a SHTF scenario because you will probably not get the premium back As for it not being faked China would jump at the opportunity Still looks greats and is a fun thing to buy to keep your stack from being too boring

[@ken3923]

Where do you get them and how much do they cost

[@withwhatyougot7993]

Hero bullion is the best deal

[@SilverDragons47]

if you go to goldback.com there is a list of retailers that sell them. just buy from the cheapest place 🔥🐉

[@happyhippo4664]

They are like $5 for 1. If you like paying $5000 per ounce, go for it.

[@SilverGuy144]

@@happyhippo4664 You could just look at other places. Most online stores sell them much closer to or even lower than the exchange rate.

[@charlesseekssilver2985]

I think these are a great product, but for utilization purposes, they are only good as gifts in my state. I live in Texas, and these aren’t accepted anywhere. I have a few, but they are only in my stack or I use them for my kids to get them started.

[@SilverGuy144]

"Aren't accepted anywhere"?!!?!?!??!?!?!!!?!?!??!?!??!?!!?! These things not only are accepted by many businesses across several states, they are officially recognized as legal tender in the state of Utah!

[@NicholasKon9]

Wait when the gold back have counterfeit problem.

[@mikeobrien4437]

One problem is you need to use them in a certain state. They should be universal so one could spend them in ANY state that is on board with the program.

[@whitefang351]

They have the same value in any state.

[@bullionaddict9164]

Dragons 👍👍

[@dukenukem001]

they have their charm but i still prefer a solid gold coin ... BUFFALOS!!!!!!

[@missourivalleyrails]

Blows my mind… that dollar is worth the same it was 100 years ago that 1 dollar in silver is worth 17x more just the silver alone

[@kevinsmith6647]

It’s funny I bought some GBs a couple of years ago thinking it was a fun thing to collect. Now I see news that they now have GB ATMs. I think this is going to take off like the bit coin. I like this better than bitcoin because I can actually trade with it now.

[@Kick_Rocks_]

They’re fun to buy every now and then and make cool little stocking stuffers. Other than that, meh.

[@joejarrell2578]

I may be completely out of right field woth this. But, what happens if the company that makes these things goes under? This means that you've spent $3.50 or more on roughly $1.50 give or take in gold. Now you're out the difference......

[@aucourant9998]

These Goldbacks are perfect for counterfeit. How can you check that they actually contain gold?

[@cairpreliffechair832]

I've sent wallets full of gold backs as birthday gifts to relatives. By the way, 40 1 denominator gold backs are HEAVY, but it is $150 worth, so still good. The biggest problem is the amount: they've only made like 4 million of them, over 4 years. I can't see them able to make 1 trillion (1 million ounces of gold!) in 10 years. So it is a good dream for a few states if it all collapsed.

[@renstocks]

why do you go live evey two weeks now

[@kiley89]

It would be better if they actually put the amount of gold and the face value of the note a little closer to spot price . The premium over spot makes this product a bad investment for me..

[@JewTubeSux]

I prefer real gold, silver and copper bullion.

[@kdnofyudbn5918]

I have for a few months now purchased coffee/baked goods at my local bakery. Paid for my haircut and tip. bought groceries at the farmers market and a local food market. Aside from cash and credit cards goldbacks have worked fine. Don't like crypto cause people forget you have to pay a service fee ( currently for Bitcoin its about $11 dollars). So yes it doesn't solve the coin issue but why not keep the coins and replace bills that cost the US government 10 cents to make which has been devaluing for decades and replace it with something that actually goes up in value?

[@jamierivera7259]

The gold is not the problem,the price people are putting on gold is the problem, they could choose to value gold at a dollar per pound if they really wanted to, the problem is that it can be used for a lot of things and something that valuable will eventually be exploited,which is the problem we are having, it's hard to get because of exploitation

[@projector7141]

It also reinforces wealth inequality, because, people with money can just buy it all.

[@SilverWingnut]

some1 out there just heard you say they have never been faked and i bet now they are on a mission LUL

[@gossman75]

Gold Backs would have been a new currency except there's a premium that make it cost twice as much. Therefore, I don't think people will buy Gold Backs when it cost twice as much because of the price premium for the process to make these Gold Backs. If you wanted one of each bill, without premium would have been somewhere around 170.00 but since it cost so much to make the gold backs the premium is added which cost 333.10 or so

[@kivie13]

Premiums are not an issue if you have a UPMA account

[@steelersjourney11111]

How Do You Have All Those Fake Coins Were You Scammed ?

[@reefrandall6732]

It's going to go the way of Roman coins. People will snip off little corners and bits

[@imnugget8085]

Honest i think it be cool if minimum wage 1 month worth is 1 gold oz and we break thatdown to goldbacks thats be awful futures

[@Kcconnor]

The biggest problem with the gold back isn the premium that you pay for an once of gold. Now I know that different state charge different amounts for the gold back but on average let us say that you can get a $1 gold back for $3.50-$4.00 apiece. She you just start hoarding $1 gold back and you need $1000 for an ounce of gold. Do the math. An ounce of gold would wind up costing you $3500 -$4000 for a single ounce. Now if you just save that money putting it aside you could probably have enough for an ounce of gold for $2000. Still believe that you can drink the gold back better than if you bought the gold back. Well I’ll tell you what. You start sending me the equivalent of the money that you were sending in to buying the gold back and with in a year I think that I would have earned money to buy you an ounce of gold, well I wouldn’t buy and ship you a piece of gold. No we will still keep collecting your money until you think that you have bought enough of the gold back that buy you an ounce of gold. As if the price of gold goes up well that is how much more you would have to send me to buy that ounce of gold. Message me if you’re interested.