The Problem With the NEW Florida Goldbacks. Lets Discuss!

[@shaneott7660]

Where can I order from you.i see your shirts but mot gold backs?

[@Spegtacular]

spegtacular.com/

[@LatimusChadimus]

I have much of his merch. Cool stuff

[@Spegtacular]

Aww my biggest fan lol

[@Pre-1933GoldCoins]

What security features are baked into these gold backs?

[@danielbbq]

security features on each Goldback. 1. A serial number, they can be authenticated. (See front and back) 2. Micro-pattern in gold throughout plus the filigree birders can be identified. 3. The gold content can be measured with hi-end XRF tech. 4. The Hi-Tech manufacturing process cannot be affordable replicated. 5. Ability to demand gold in exchange for Goldbacks from Goldback, inc. 6. Black light ink on reverse shows Denomination and Au

[@AdamWest-h5z]

I started buying GB when the exchange rate was $3.50. Now the exchange rate is $5.54. I have lost nothing.

[@jaybarr3307]

Ditto. I bought a bunch to spend and I put a stack away. I've had to go back and buy more to spend though - it was easier to do than I thought it would be. But, because the price of gold rose, I have made the difference back.

[@AdamWest-h5z]

@jaybarr3307 Here in Vermont, no business accepts them...yet. so, I just buy and stack. I buy the ones. What's good is, I can go to Manchester N.H. and exchange the ones for larger denominations.

[@TheGoldenDragonfly]

Same here… better than sitting on cash!

[@Wickedstickyflowers]

There like 1 dollar gb is 8 dollars + 5shipping It’s hysterical

[@caryphillips4885]

The introduction of the 1/2 and the 2 is brilliant. The 100, I'm not a huge fan of, because it's a 10th oz, and it's cheaper to go with a proper coin for that. I mean, why not, but I don't imagine it will be used all that much.

[@FlintIronstag23]

I agree. I think the 100 was just a way to get collectors to spend $500+ for those who want to have a complete set. It is not really useful as a transactional denomination. The 1/2 is far more useful, but the 2 is kind of redundant, like the $2 federal reserve notes are.

[@caryphillips4885]

@@FlintIronstag23 Yeah, the 2 is a bit redundant, but I also can't think of any good reasons to not have one.

[@FlintIronstag23]

@ Yeah, it doesn't really hurt to have the 2. According to the video, he hasn't seen a lot of demand for them though. Maybe there is just an aversion to $2/2 GB bills in the country. If someday Goldbacks becomes a fairly widespread currency alternative, I imagine the 1/2, 1, 5, and maybe 10 will be the most popular. Since they are supposed to be fungible, there really is no point getting any of the larger denominations since you aren't saving on premium like you would with getting larger gold coins.

[@Wickedstickyflowers]

@@caryphillips4885strange I agree but not sure why . And it never did good a a dollar note . But I got a few

[@albing1397]

Where the proportional Goldback exchange rate plan falls apart is the 100 GB (1/10th oz) point. A 100 GB is $540 vs a 1/10 oz coin (About $300 @ $2,690 spot), yet the coin is easier to carry. Smaller GB denominations make sense due to the fact that gold coins are not common (1, 2.5g, 5g and 10 gram bars are difficult to value properly) and GB are easily divisible.

[@unclesam9591]

The funny thing I was having this discussion with another friend of mine that also stacks I feel like gold backs are useful for small amounts that would be hard to hold find or carry or easy to lose While the 50 and 100 gold back just seems like it would be easier to carry a coin 1/10 or 1/20 of an ounce

[@jeffgodfrey8797]

Does a $100 gb weigh more then a $1 GB like does it have the appropriate amount of gold. Iv had the $1gb

[@cutlerylover]

@@jeffgodfrey8797 yeah it should weight 100 times as much, if you notice the higher denomination bills are literally bigger and thicker...

[@RichardRoche-c2w]

@@jeffgodfrey8797, they’ve all been tested (burned to destruction and extracting the gold) and, b ‘cause it’s so difficult to get the exact amount, they all have a tiny bit more gold than listed - maybe the 100 is an exception.

[@jeffhogueison1656]

It is easier to see verify a real verse fake goldback compared to fake denominational small gold coin to be authentic

[@jimthompson9992]

I'm waiting, patiently, for the few i ordered to be shipped. I'm not getting them to be used but as a fun collectible.....i just don't see them being used in the near future....kinda like the $2 bills were. Everyone put them back as fun collectibles and very few got used. These goldbacks are works of art!

[@Spegtacular]

Dunno who you went through but everyone has to wait until the 15th to begin shipping and then I can tell you for almost certainty (99%) that Goldback the company won’t have everyone’s supply to the pre-order companies by that date.

[@jimthompson9992]

Well, Speg, I ordered them through your site and since you said they wouldn't be shipped until after the 15th, that's why I said I'm waiting, patiently since I know you ship promptly. ​@@Spegtacular

[@cjallen425]

We accept the goldbacks at our business in North Texas. I know our state is coming up!

[@charlessavoie2367]

Don't get blindsided by Richard Fisher. He sure comes off like a member of The Pilgrims Society (our deadliest enemies existing in secret since January 1903).

[@cutlerylover]

Whats interesting is lets say Florida makes it an official state currency and the value skyrockets those specific bills will have a different exchange rate than the rest? it would trade for, more than gold value it would be based on premium due to supply and demand...I LOVE the goldbacks but really feel it can never happen, they are cool collectibles and literal art but the US government would never allow it...They would make these illegal as tender and make their own if they even considered the idea...well see with more time :)

[@WhiteRaven12773]

its in the constitution -only gold and silver are to be money in the states but many made the switch to fiat

[@hunterfalck235]

The government may not have a choice because the government says that gold and silver products are an exception to the state currency rule

[@cutlerylover]

@@hunterfalck235 yes a law they can easily change...plus even if its ok to keep them which I dont see why you wouldn't be allowed to, the fact is the people who make them couldn't possible keep up with demand, they cant make them fast enough, there are other factors as well like who they get gold from...what if their source for gold dries up or stops for whatever reasons they cant make them anymore so what happens another company makes them? what if 100 companies all make them and some are legit some aren't? Right now even with the Florida ones glowing in the dark with UV light can be faked, what security measure can they do with the equipment a private company in the US has access too? The US government can put as stop to it easily in many different ways they can literally kill innocent people or hold them hostage with no trial and no humans rights given thanks to the patriot act, if they call you a terrorist you cant even prove you aren't lol they are the all mighty king and what they say goes until or unless the people overthrow them...the only way I see these being currency is if the US make them and I dont think they will they want to go to digital currency to have even more control over our money,..,.but again just one guys opinion...your entitled to your own ive been wrong many times before haha

[@cutlerylover]

@@WhiteRaven12773 yes the US government went directly against the constitutional law and its not the first time or the last thats the point, laws can and do change even the most important ones...the constitution is only as strong as the people in power believing in it, but what will the 5 years olds now think of the constitution when they get old enough to run this country? EVERYTHIGN changes with time its unavoidable and indisputable...we will probably be long dead but humans may not care about gold or silver anymore not even in industry thats if humans even stick around for that much longer...lol

[@cutlerylover]

@@hunterfalck235 and the government has the power to make laws and get rid of old ones too :) its like when your dad lets you drive his car one day becasue hes in a good mood then you ask again and he says no...daddy government calls the shots and doesnt care about old promises...

[@Wickedstickyflowers]

How do we force all states to make them

[@RichardRoche-c2w]

There’s actually a way to lease them out and get paid 3% - and that’s in gold backs.

[@Mike-METALs]

Those gold backs are awesome

[@Wickedstickyflowers]

I wish I wish I wish That every state printed them And we could insulate ourselves from the federal reserve.

[@Sturika]

I've been a GB fan since their launch. Beautiful artwork and top notch fabrication. LOVE the new Florida series and the additions! 😀

[@Wickedstickyflowers]

I’d rather a 100 dollars Than a hundred dollar gold backs

[@Wickedstickyflowers]

Every day that”exchange rate, drops , Your savings is just depreciating every day as banks offer you credit 😂

[@Wickedstickyflowers]

I’m a huge fan of I think if all American people except this and respect it ….. omg We could change or future for citizens

[@Wickedstickyflowers]

I’m a huge fan of I think if all American people except this and respect it ….. omg We could change or future for citizens It’s like , we don’t deal in Fiat currency, and we’re gonna deal in gold only … I promise our children will thank us !

[@BeingBeckyNow]

Can we use goldbacks from any state here in Florida? And other. States?

[@silverfoxfinance]

Not state dependent, just if a store accepts them or not.

[@BeingBeckyNow]

@@silverfoxfinance thanks for the info!

[@TheWinstonDouble]

Yeah, they're all the same gold weight so that's all that really matters. I think they just make new state designs when enough businesses in a state start accepting them, or something like that.

[@danielbbq]

They are like the state quarters.

[@dukenukemani07]

Thank you for setting the record straight on Goldbacks and showing the new Florida series. They look absolutely stunning and I'm giving some serious thought in adding some individual ones to my personal collection (not my stack). Good Show! 👍

[@robertschumacher513]

I’m a fanboy of the goldback. Wish my state had them. I think they are a great concept. Cannot wait for my Florida gokdback preorder

[@pewpewTN]

I have a $1 note or two just as a novelty. I hope they do well, but I will probably just enjoy them from afar for now. I know they aren't meant for stackers to add weight & that's my current goal.

[@CyrusOfNaias]

Thanks Speg! Just got mine today. I like the One, but the Five is my favourite Florida Goldback

[@buildingAbiz]

I saw them in person at the FUN show and wow they really are beautiful in hand❤ the 5 is perfection 👌 I would gladly accept these for anyone who buys from my companies!

[@liquidelectrum]

I totally get what the Goldbacks are and I’m a big fan. Spendable gold is a concept people need to understand. It is sound money!

[@jenuinejoneszenproductions8355]

@@liquidelectrum literally genuinely positive frequency currency.

[@JJj-sb5pz]

Thanks for the goldbacks. I have a good feeling about them.

[@kaje01]

How difficult are these to actually exchange at the exchange rate if you want to cash in? When the Utah gold backs first came out I was considering them but I didn’t think the company would be around long enough to honor the exchange rate

[@Spegtacular]

Exchange rate value. You’re not trading them for cash because they’re not legal tender (yet).

[@jaybarr3307]

Hi Speg. Big fan of you (and Guy, of course). If you' own Goldbacks, you're no idiot. I wanna buy 100 1/2 GBs to go with the many others I own. I buy NH versions because I live in MA and I spend 'em all over MA and NH without issue. About 80% of the folks I offer them to decide to accept them. Since they are meant to be "hyper-fractional", I prefer the 1's and now the 1/2's.

[@veritasfiles]

I like the Goldbacks, but I think their denomination vs. their market price makes them at least one step more complicated than a physical Gold or Silver coin. I will eventually purchase Goldbacks, but I will not be likely to ever see them as exactly the same or superior to physical coinage.

[@JasonBassel]

Keep in mind that the first few prints will have the alpha logo next to the year, think of the older pokemon cards with 1st edition. Question: how do we take collection to the next level? Adding gold on it is a good start. So this is a collectible at the least.

[@herbwalters1958]

I am still hoping to find businesses in Kansas that will take Goldbacks so I can start using them as intended. I think getting gold back into circulation as money is a good thing.

[@stevemclaughlin9436]

I like the pirate girl too. That’s beautiful art.

[@kenofken9458]

If they made the pirate Lily Phillips and another bill with Capt. Jack Sparrow, I'd buy them!🤣

[@DaMartyr]

Stacking silver and exchanging for gold would save premium for those on a tight budget, but I did order a few of these because they are beautiful and highly divisible for gold.

[@patrickmiller5702]

I'm using them for tips that should make for good conversation!

[@Spegtacular]

me too

[@williambetzelberger6128]

Goldbacks are truly an amazing way to bring sound money to local communities. I am trying to get Oklahoma to become a Goldback state

[@YankeeStacking]

Hey Speg! Did you happen to see “Homestead”? Goldback partly sponsored the movie and were featured quite prominently in it.

[@dhoward6945]

#PMGSTAKS Question if you get a ounce of gold Backs could you melt them down for the ounce of gold in Them Question could they be checked on the Sigma machine Let me know thanks

[@Spegtacular]

Yes, of course.

[@AdamWest-h5z]

Why would you melt them down? That don't make no sense

[@DrJekyll77]

There's videos on KZbin of people melting them down and extracting the gold they contain exactly what they advertise

[@WhiteRaven12773]

@@AdamWest-h5z for an experiment even if its just a 1 gb

[@dhoward6945]

@@Spegtacular #PMGSTAKS thanks it was just a question

[@kaynef6637]

The new Florida 5 goldback looks freakin amazing 🤩

[@Spegtacular]

It’s a beauty!

[@WhiteTigerFire]

Just Ordered Some ! I Live in Pa My First Step into any Gold Stuff . Hope Pennsylvania Starts GoldBacks

[@stacyhazelwood4033]

I have some Florida holdbacks on order. I have 1 of every state denomination. I like them. I hope they come to Tennessee.

[@stevemclaughlin9436]

I’d like to get a couple of the special Goldbacks that went to particular customers in Florida.

[@Spegtacular]

Which was that?

[@lcflooring3887]

If it was even possible to separate the gold from paper plastic. At what price are you paying for the AGW in 100 PC of 5.s. Last time I checked fractional is cheaper and easier to sell

[@WhiteRaven12773]

but they are less secure and harder to transport and for a new person the money you put in you can get more out in as little at 2-4 months or so

[@bigblind4085]

All you need is fire the gold is there but I still don't like them

[@antonschulte9150]

Sreetips processed some goldbacks on his KZbin channel some time ago. They seem to contain exactly the amount of gold as advertised, but you need to invest quite some time, chemicals and knowledge to get it off of the foils. In my opinion because of that goldbacks will stay a collector's item / novelty item. There are plenty of 1 gram bars and 1/10 troy ounce coins for invesors and stackers who can't or won't afford a larger piece of gold. Even smaller units might be impractical for many stackers or investors, even if the price of gold is rising even higher. The gold content of a coin or a bar is usually easier to both understand and verify, especially to a person with very little no experience / knowledge about precious metals or numismatics. But still the goldbacks are pretty to look at and probably a good way to get more people interested in precious metals.

[@danielbbq]

Goldbacks are for spending, leasing, transferring, earning interest, side-stepping inflation. Bullion or bars are limited compared to these.

[@WhiteRaven12773]

@@bigblind4085 fair but its all depends on your end goals .. theses are great trade and collectors items

[@cutlerylover]

the sticky issue isnt an issue at all you have to be rough with them but then you may crease it and thats harsh since people see these as collectibles and want to preserve their value by keeping them perfect, IK have one bent in my wallet hooping to wear it up a lot to see how it wears...so far its rigid on the ends still very awkward and slippery still...

[@Spegtacular]

Jeff… did you write while drinking again?

[@kenofken9458]

@@Spegtacular Wear tolerance is a real issue, if you really want these things to be a circulating currency people use. A dollar bill will survive about six and a half years, on average, and change hands close to 700 times in that time frame. They get crumpled, wadded, left in sweaty pockets. Left in clothing that goes through the wash and on and on. If gold backs can't handle that, they ain't gonna make it as a mainstream currency. In the real world, money doesn't get handled like collectible trading cards kept in slabs or binders with protective sheets.

[@BlueBirds-fs1id]

If want them as a collectible and not as a ccy why would it be in your wallet for you to spend? I’ve never heard of someone who has bought it for collectible art keeping it in their wallet.

[@cutlerylover]

@@Spegtacular lol no I am smart enough not to go online when im drunk especially comment lol...even if this video you are handling them carefully becasue they are for resale, thats how most if not all owns of goldbacks handle them because at the end of the day most of the owners want to sell them not use them...you can fold and crease them but because of the plastic I dont think they will ever really "break in" so to speak, they are rigid hard edge plastic bills so its awkward to carry and use...

[@cutlerylover]

@@kenofken9458 yes thats what I meant to say these are awkward to handle if you actually carry then in your wallet like I do when they crease its hard to get the straight again and the edges are sharp and stiff, they are actually extra slick not sticky so they slide around easily and have fallen out of my wallet on occasion when im getting other bills

[@ES-mc3cc]

The attraction is that they'll always be good.

[@LatimusChadimus]

I love em all!

[@Spegtacular]

All you need is love.

[@elicrutchfield9588]

Guy what selling them on what not on Saturday I'll have mine before most people in Florida get theirs.

[@SilverPsycho5150]

I have one of every denomination in all 5 states. I'm excited to add the 8 Florida to my collection book. I'd never stack them though.

[@DownHillgamer]

Just orderd 6 bills, a verity pack of 1s. Along with my first bar, half oz

[@Stingray727]

I love the GB designs and have collected many of the prior states, but nothing over the $25 value. Anything higher than that and the premium is just too much for me.

[@Haviifxlrs]

Thanks man I just placed an order for some beautiful goldbacks

[@SilverStateStacker777]

Great video!! All my backs are sticky. Esp the 1’s. You gotta watch it for sure!! In NV we can use GB’s as legal tender, but as of now it is not known and not adapted. Even the people that have GoldATM’s in their store have no clue what they are and what to do with them. I am like you. I love them, believe in the movement. I’m way up in value. But long road.

[@RetroHabit82]

Ive been stacking the 1 Goldback when they walk into the shop.

[@travdripdrip382]

So does a 2 dollar one get you 2 worth of food or goods? When you use a 5 and need change what do they give you? That's the part I'm a bit confused about.

[@kenofken9458]

The numbers indicate fractions of ounces. So a "1" goldback is 1/1,000th of an ounce. Multiply from there. A 10 goldback is 10/1000ths of an ounce or like our math teacher told it, more properly expressed reduced as 1/100th and so on. So where it gets a little tricky is what they're worth. It's basically the spot value of the amount of gold times two, more or less. I think there is a daily or weekly exchange rate posted.

[@alfonsoalfonso647]

How do they handle Heat? If you leave one on the car dash, will it melt?

[@Spegtacular]

It’s a fair question. The gold won’t but one sure about the other stuff

[@stevemclaughlin9436]

I love the way these look. They are gold but I’m more interested in them as art or collector value. For stacking, I prefer coin form.

[@bill4572]

It's getting a little cold here maybe I will move to Florida 😅 What I do with paper when it get static electricity have to fan them out and get the static out of them

[@Spegtacular]

Freezing in FL Bill.

[@coolbreeze6198]

How many come in a sleeve???

[@Spegtacular]

100

[@bosstone100]

I wish they were waiting a couple of months. I just did some serious damage at FUN and don't have much cash right now.

[@SilverLumberjack]

As long as stores take fiat then is literally no reason to spend goldbacks/gold/silver. Give them the fiat and keep the metals.

[@ah5836]

Incorrect. The whole point of goldbacks is to create a currency for transactions. If all you want to do is hoard metal weight, buy a bar.

[@WhiteRaven12773]

right make your community poorer .. vs spending gold backs and make them richer .. you your self look like a better person

[@SilverLumberjack]

@ Anyone would be foolish to willing spend metals when they still take fiat.

[@SilverLumberjack]

@ Greshams Law

[@WhiteRaven12773]

@@SilverLumberjack and when you need cash what you buying what oh wait fiat ..because why the person dose not take metal or what you have to offer vs priming the people around you to take a uniform, high security note metal and growing a better community

[@michaelslifecycle]

Cool idea but leaving it up to a private entity to be in control of the money that is printed is what led us to where we are today. If we want an actual solution to our money issues in this country, then we will be trading and bartering in gold weight, no matter what form it’s in. In that case, the premium on these aren’t worth it unless you are just buying it as a novelty item. If they do become legal tender, then many other companies will print the same things and then they will undercut each other on price and the actual premium will be at a fair level. Until these are mass produced and widely accepted in the mass population, they should only be viewed as a novelty. These are not a good place to store wealth.

[@bigdaddyhoffman1911]

Lord Have Mercy!

[@kathymorgan7636]

How can I get free shipping? Certain dollar amount?

[@Spegtacular]

I think the website is set up to automatically do that at either $500 or $600. It's been so long I forget ....

[@fasteddy6170]

SILVER Stackular thats a Cool word ..Remember Purity is Security

[@Zonker66]

They definitely need work. I never see anyone bend them or run them through the washer in the pocket of their jeans. They need to be durable and not split or peel after being abused.

[@44Mag]

The state gold-backs always have very nice artwork. For that reason, I don't mind buying one from each, more as eye-candy. I live in a metropolitan area and have 3 large bullion dealers within a 20 minute drive, and 10 within a 60 minute drive. NONE of these shops will buy gold backs from people. -- 2 shops will sell them, but it is cheaper to buy them online or from independents like yourself. I have not found a single store that would accept them for goods/services. I actually do not know of anyone that will trade with them. (Businesses or individuals) My personal take on these, is they are much like buying a penny stock and hoping one day it takes off. (The facts are for every 1 of those stocks that takes off, 20 will fail completely.) One day, if there is a world impacting event, where governments fail, these things may be worth a LOT. (much easier to exchange/trade than heavier metals) Without such an event though, I think they are more of an artistic novelty. Thanks for the video. (If the Coin Guy starts accepting them for payment, I will eat my words) ☺☺

[@Spegtacular]

I’m sure you were joking but you should never let someone dictate what YOU do. That being said, I got Coin Guy into being a dealer that accepts Goldbacks.

[@kenofken9458]

That's why it's a very far stretch to call goldbacks currency. They have no liquidity in most places. The whole idea behind a useful currency is liquidity. You don't have to hunt around for the one needle in the haystack person who values it for its real worth. If you sell a Frida Kahlo painting or some super rare vintage baseball card, you have to find the small subset of the population who wants that at any given time and recognizes its true value. Currency - real currency, is taken everywhere at the face value. It's that ubiquity more than the actual value which makes a currency useful. The Kuwaiti Dinar is a much stronger and more inflation resistant currency than the U.S. Dollar. Each dinar is worth about $3.25. But I don't buy and walk around with that currency because nobody outside of Kuwait and maybe immediate neighbors accepts them. I can't go anywhere in the United States and buy things with them or exchange them at most banks for dollars. If I happened to know someone in the military or a civilian contractor getting shipped to Kuwait, they might take the trade, but probably only if I discounted somewhat from the official exchange.

[@44Mag]

@@kenofken9458 Very well summarized. I concur with your thoughts. Heck, even gold and silver is not a reliable currency. Only about 10% of the world's population recognizes (and owns) metals beyond jewelry. For that reason, if a person had 10k ounces of silver, and an event happened that collapsed society (large scale event like asteroid, nuclear war, etc) then gold and silver will be useless, at least for their immediate needs. There are just not enough people that understands gold and silver, and there are not enough people that own it, for it to be an immediate currency. It may have great value as society rebuilds, (which is why I stack it) but for that immediate aftermath, goods and services will be the currency of use. (food, meds, water purification, clothes, booze, ammo, firearms, camping equipment, fishing gear, etc) - Those that have a surplus of these items will be WAY better off than the folks who only hold cash (any countries cash), gold and silver. - Like I said though, the gold and silver holders will likely be the big winners in the long run (if they survive that interim period.) Cheers!

[@AbeTaylor-bd9oe]

Goldbacks are the new money. The Dollar is dying a slow death.

[@jenuinejoneszenproductions8355]

They should use the gold from recycled phones to make these and make it available for 3d printing. Or that’s what the criminals will start doing 😂😂😂😳

[@WhiteRaven12773]

humm like i always say gold backs good for , transaction, security, art and community, Collecting but its never for weight .. its all about your planned use and end goals ... sure old realm/junk coins can do the same but are less secure and easy to be faked messed with and devalued so depended how the person across the counter measures things you could win or lose or there if there tools work the gold backs are just easy and uniform and yes your paying a bit more for the securities and manufacturing but people pay it on every thing its the scaling that's different but the end of the day on gbs you get it back or more even more so if you dollar cost average .. and then top it off with a community boom you got a no brain winner

[@soundmoneyguy5949]

If your plan is to get melt value then the Goldback isn't for you.

[@WhiteRaven12773]

@@soundmoneyguy5949 yep sad but true its not good for weight and i am clear on that 100% maybe one day but time will tell

[@WhiteRaven12773]

@@soundmoneyguy5949 yep for weight they stink hands down

[@WhiteRaven12773]

@@soundmoneyguy5949 sad but true its not good for weight but for everything elts its good as gold

[@jenuinejoneszenproductions8355]

It’s gonna happen

[@reubengarza6574]

What if gold go low as before in the past history say it will...🙃

[@Spegtacular]

Only because the dollar was way up. Check out the totality of the circumstances sir.

[@bigblind4085]

They are cool but not for me. I mean id take some but im not buying money to spend. Im sure the gold back makers found a cool way to make money lol

[@hunterfalck235]

They are very nice but their intrinsic value is very low. The gold contained within them cannot be refined. This is the old Bogey's response to the Krypto movement

[@arte9855]

How Cool would a $500 and a $1000 be😮

[@907Opa]

Hard pass for me on goldbacks. They're fun to look at though.

[@Spegtacular]

You’re fun to look at..

[@Asanhokcrook]

🕯️"For thou wilt light my candle: the LORD my God will enlighten my darkness." Psalms 18:28 KJV🕯️

[@smr2bgky]

If you like them, why did you title this post , "The PROBLEM With the NEW Florida Goldbacks."????? THERE IS NO PROBLEM! Why didn't it say, "Let's discuss specifics about the amazing Goldback!" So, stay POSITIVE my friend. The only "PROBLEM" is that every State does not already their own Goldback!

[@Spegtacular]

Watch the video, I discuss the problem(s). I'm not the guy who is going to lie to you and tell you everything is perfect... you're on the wrong channel. I'm the guy who will give you all sides of the story. Hence why this is the second video I did about these Florida Goldbacks.

[@jenuinejoneszenproductions8355]

He is explaining what he feels are “problems”.

[@COUNTTRUMPULA]

I don't live in a goldbacks state, and I don't travel or do business in any.

[@kenofken9458]

It's not so much a matter of states. It's not legal tender anywhere in the same was as USD. I think there's four states or so that will let you pay taxes with goldbacks within their jurisdiction. Beyond that, so far as I know, nobody is compelled to accept them. To the degree they actually circulate, it's mostly among the community of goldback enthusiasts, some of who happen to own small businesses. It's actual use in commerce is likely to remain limited because they're not capable of functioning in the full "life cycle" of money right now. You can find some retailers who will sell you goods in exchange for them, but for the most part they cannot pass them up the chain to pay their taxes, their vendors, employees, or bank them.

[@Der0Nibelung]

If the GBs are adopted as money, will the value only be the amount of gold in them?

[@kenofken9458]

That will be the only value guaranteed with them. They currently trade among a small ecosystem of goldback enthusiasts at about double the melt value.

[@michaelp772]

The exchange rate is essentailly a numismatic premium.

[@soundmoneyguy5949]

Not really. It costs money to split an ounce of gold into two thousand pieces.

[@kenofken9458]

@@soundmoneyguy5949 Which is why it's not a good idea. Ten years ago or so I was trained on the use of an atomic force microscope. It's tedious work, but I could pick up and put down and sell you one gold atom at a time if you wanted. But there's no good reason to do so. For all the hassle of making a one-thousandth ounce piece of gold, I can use two or three silver mercury dimes to transmit or store the same value. And nearly all that value will remain intrinsic rather than premium.

[@jameshanks8608]

Honestly it seems like a rip off if you're paying 5k for 1 oz of gold. Government scamming.

[@joshuarhoades2740]

Over inflated merchandise!

[@BillGuyHawaii]

I like my fractional gold. It's real and can be authenticated. Small sub culture group of people will buy gold backs. $100 Bill is money every where. Don't waste your money.

[@WhiteRaven12773]

so your $100 bill is good in the middle of the jungle where people have no trust or reason to accept it over there local bills

[@BillGuyHawaii]

@WhiteRaven12773 better than a goldback. Sort of a ridiculous example. A Bic lighters would be useful in the situation you suggest. Go ahead buy some goldbacks for the bush

[@modus_operandi2508]

50% premium...aahhhhhhh no thanks !

[@Spegtacular]

You missed the info about the premiums too. 10-4

[@kenofken9458]

100%.

[@Crispy_Mofo_]

they are pretty but im going to pass.

[@Spegtacular]

You’re pretty… I can’t pass on you though!

[@jamesjoy8866]

A pretty collectors item is the only reason i would buy any.

[@MrBill-ee4mr]

I didnt know people actually bought these.

[@andyb8838]

They are pretty and I'm interested in them as collectibles but my main concern is the liquidity. Where do I exchange these? Who would honor the exchange rate? And if I brought them to a i.e., grocery store would they honor the face value or the face value x exchange rate? Don't get me wrong these look amazing but I'm still pretty sceptical. You still may see me at WhatNot. Cheers, thanks for the great video.

[@kenofken9458]

It's a pretty limited number of places that take them. Utah seems to have the most of them.

[@dominickraimo2411]

I didn't know you had a shop? Anyway, I would only buy them to put in my collection. Enjoyed the video.

[@Spegtacular]

I do!

[@Spegtacular]

Free $15 on me off your first purchase on Whatnot (can be used anywhere on the app) whatnot.com/invite/spegtacular Sell on Whatnot and get $150 cash match for your first 7 days! Use the SAME link as above! #whatnotpartner

[@dominickraimo2411]

I didn't know you had a shop? Anyway, I would only buy them to put in my collection. Enjoyed the video.

[@Spegtacular]

I do!!

[@dominickraimo2411]

I didn't know you had a shop? Anyway, I would only buy them to put in my collection. Enjoyed the video.

[@Spegtacular]

I do!...

[@dominickraimo2411]

I didn't know you had a shop? Anyway, I would only buy them to put in my collection. Enjoyed the video.

[@Spegtacular]

I do!..............

[@dominickraimo2411]

I didn't know you had a shop? Anyway, I would only buy them to put in my collection. Enjoyed the video.

[@Spegtacular]

I do!..................................................................

[@dominickraimo2411]

@Spegtacular 😀👍