What are GOLDBACKS? (Im not sold)

Today we are going to talk about the great idea of gold backs. The idea behind it is sound but are people really going to start using these? Let’s discuss
Disclaimer- I am not a financial advisor, I’m just a guy passionate about gold, silver and numismatics, please do not make any purchases or sales based on my videos. What I say in this video is just my opinion.
#silver #silverstacking #gold #goldcoins

[@BDK86]

If the premiums werent so disgusting high. I would think about collecting them.

[@jaybarr3307]

Dude, really? Research things a little more before you toss out the vids. You're gonna pass judgement while saying it has layers of "polyester" and works like a silver certificate? Neither of those are true. Also, it is not "one dollar" or a "one-dollar goldback", it is one Goldback. Goldbacks are not dollars or gallons or miles. They are simply Goldbacks which will be worth a fluctuating amount of dollars, or services, or products depending on how it's traded. The Goldback website discusses why they have a 25 GB denomination and not a 20, no need to speculate. As for durability, maybe you could watch a vid or two on that or note that they'll replace any damaged ones simply upon request. Try tearing one up if you think they're so fragile. Most of this vid will misinform people greatly a serious disservice to your viewers and stackers in general.

[@rickstalentedtongue910]

They're for spending, not stacking. So they solve the problem, nothing to break down, just use the bill. Goldback's will not erode with inflation, already better than fiat. I would always take a Goldback over the paper equivalent.

[@terryzumwalde9180]

My personal opinion…I love these goldbacks. I understand how trying to get people to take them now, …most do not even know about them. But when there comes a time when a financial disaster hits, people won’t care what form the gold has. They’ll take it.

[@Joutube_is_trash]

Anyone thinking they're going to get any premium back on these is mainlining copium. It's accepted that you're already eating the 5-10% premium on bullion yourself on the sale, but you're going to be lucky to even see melt for this stuff. Literally wasting money on a collectors gimmick.

[@TobaccoRowe1960]

A 5 Spot Goldback was a perfect addition to my Granddaughters Cigar Box. Just because I wanted one.

[@robbyrakestraw6422]

Goldbacks are not dollar denominations - you keep saying $1, $5, $10, $25 and $50 - they are just 1, 5, 10, 25, and 50 based on 1000th of an ounce of gold.

[@Oceansta]

OK, so basically they are selling it at 2x of what gold is actually worth. Now, the last time gold was half the rate of what it is today was in 2011 - i.e. 15 years ago. Now, assuming the same growth rate for the sake of the argument, it would take you until about 2040 to break even from your current investment in Goldbacks. I do understand that gold is a hedge against fiat currency and market linked instruments but in 15 years , you would double your investment of $10,000 to $20,000 at a modest interest rate of even 4.5% . I don't think Goldbacks make a lot of sense as a strategy.

[@bhoward9378]

As I see it, the major issue with Goldbacks is that purchasers have to pay for the costs of production, unlike fiat. But, as with premiums for gold and silver, if you hold on to them long enough, the increase in value will wipe out those early costs. I'm just not sure I want to experience the economic chaos that will make that happen. Apologies for the wall of text. Also, howdy from Wyoming!

[@willambrose4682]

The bottom line is...... When I bought 100 of them 4 months ago they were $3.80 per back, now they're worth $5.20. do the math

[@donaldwalls3737]

I started buying Goldbacks when they were $3.29 for a one.

[@davepetro5676]

New Hampshire we used them for contractors, business, farmer market and so on and they get used across the NH state. I used and get paid for some electrical work I put them in sleeves. I buy stuff from farmers market

[@TwitchRadio]

Pretty to look at but I wouldn't stack them but I do grab a few here and there and I give them out when I go out to nice dinners and whatnot to the staff for a tip and whatnot.... kind of my way of passing along hey check out gold and silver😂

[@AHgameplay]

I had no idea. I think it's great that states are legalizing gold. Even if it's separate from Federal, its giving power back to the States. I can dig it.

[@rasbobbo]

Some people say they like the designs. Something to collect, I suppose. Limited as currency.

[@ChadBoss-qr4hl]

I think the point of goldbacks is it's a partial return to gold-backed currency, albeit an extremely impractical one. I think the idea is: if you support the idea of returning to a gold-backed currency, then buy goldbacks (and actually use them if that is an option where you live, or just collect them if not). If enough people do this, capital will be tied up in the currency, they will gain momentum and ultimately we will be incrementally closer to returning to a gold-backed currency. Kind of like voting with your wallet. Or better yet kind of like the idea behind cryptocurrency (cryptocurrency as MONEY that is, not cryptocurrency speculation). If the idea of using Bitcoin to buy stuff appeals to you, then so should goldbacks, in theory.

[@milessakauye8819]

100% agreed! Seems like some of the premiums I've seen have reached collector levels.

[@talkwithtiffanychannel]

These are great for shopping locally 👍🏻 Many businesses accept these, mine included 👍🏻

[@danielbbq]

There are 5 states issuing them now and 5 more in the works. Im an early adopter and loving them. Time will tell how they catch on. Cheers for braving the goldback universe.

[@silverpatriot8715]

I’m right there with you brother, I am not a fan of the gold backs, the smallest amount of gold I will purchase is a 1/10th oz gold coin- keep stacking! 💯💪🏼😎🦅🇺🇸