Will Gresham's Law Ruin the Goldback?

[@seclusionworks7547]

I started collecting the goldbacks out of sheer curiosity. Once I owned my first set, I was hooked and started collecting them. The Goldbacks are just stunning,

[@larrycoleman2225]

@@hewhomustnotbenamed8034 Seems you missed the design intent of the Goldbacks. I'll eat the additional cost to print each Goldback and have something with sustainable value over the long haul over play money made by governments who deflate it as back door theft of someone's financial security.

[@Kraang]

Hey look at me, I cannot let people live their own lives and value what they appreciate personally, it does not matter that 'Seclusion Works' said nothing about them having significant value because I am a soul leech that needs a new victim to feed off of - @He who must not be named

[@Ed-ig7fj]

I agree with you: the artwork is stunning. This also gives the Goldbacks another type of intrinsic value. Besides being gold, in a barter situation a person who was not familiar with the Goldbacks and perhaps did not believe that they were actually gold might be willing to accept them for their beauty. --Old Guy

[@DrSchor]

think about what happens to fish that get hooked. even the ones that look stunning. run to your house, fall upon your knees, and rethink your life before it is too late

[@stevewatt4819]

when I was a kid $20 bills were the big thing in ones wallet, you rarely saw a $100, now you see $100 often and spend them too.

[@mydayinuy]

When I was born, my grandfather gave my parents $100 to open a bank account for me. In 2023, the equivalent of that would be $1,135.

[@johnfajer7691]

Love my Goldbacks! Such fantastic thought put into this product! Our founding fathers understood the danger to liberty posed by a government that could spend unconstrained. They watched John Law and the French government destroy France with a central bank that increased the income gap between the rich and the poor so astoundingly that it precipitated The French Revolution. That's why, in our constitution, Article I, Section 10, Clause 1 states that: "....No state shall....make anything other than gold or silver coin a payment in tender of debts." They knew the inevitable outcome of such a central banking endeavor. This was common knowledge, even up until Andrew Jackson's bid for presidency, when he ran on the slogan of "Jackson and no bank!". Nowadays, we, The People, have forgotten what happens when the chains of government are removed, and unlimited spending can occur. Those chains are removed from government, and placed directly onto its' citizens. Central banking is just one place where liberty goes to die, and our founding fathers understood that. ..........One day it will be common knowledge again. When that day comes, I'mma have plenty of goldbacks at the ready! :D :D :D

[@chasebarrett52]

I've been seeing Gresham's Law comments about Goldbacks from time to time. Thank you for making this video! I feel like I learned something here. Hopefully Goldbacks continue to take off!

[@paul_fredrick]

Gresham's law DOES NOT affect goldbacks because the face value of goldbacks is not expressed in US dollars. In other words, the reason why people don't spend their silver quarters is because they will only get 25 cents if they use them to buy anything, so they hoard them instead. Goldbacks, conversely, are transacted using their gold value, they are not dollars. They are goldbacks. This means their purchasing power will keep increasing as the dollar keeps collapsing. This cannot be said about old quarter dollar coins, in spite of their silver content. When a retailer accepts goldbacks, they convert it to dollars as if they would with any foreign currency, using that day's conversion rate. Retailers do not convert old quarters to dollars using the current price of silver because it is impractical, although in theory they could do that, but it would make for a complicated transaction where they are accepting a mix of dollars and silver to pay for a single purchase, and where the silver is disguised as quarter dollars, which is confusing.

[@TheHaughtyOsprey]

How do you figure junk silver won't work? I use it all the time. I got a truckload of rye straw for 12 of them last Friday.

[@paul_fredrick]

@@TheHaughtyOsprey That's because you and the seller ignored their face value. Gresham's law refers to money used at its face value.

[@TheHaughtyOsprey]

@@paul_fredrick thanks.

[@evanbrown7325]

Well said!

[@rennyzero420]

Somebody needs to print silverbacks.

[@cosmosaic8117]

You mean the USD for a long time?

[@robertm1112]

It would probably be best to just make silver dimes. Because of lower production costs.

[@Yacht_Rocker]

Just collect smaller bullion bars to use as currency. Ex. 1 to 5 gram incriminates

[@DarthDregan]

Friend… That’s not a bad idea.

[@SilverSceptile]

@@robertm1112 and quarters

[@RandoTark]

I wish there was a stateless Goldback. I feel like gifting someone some of these, that arent in the state on the goldback... would cause some confusion =/

[@LizaJane84]

Thank you, s d for again teaching us so much about economics and things that were not taught to us in school..... We are sharing these videos and information with our parents, Children and teaching the young grandchildren as well.🎉

[@stephen8176]

Just bought a Utah, Nevada and NH one dollar goldbacks. Can't wait until they arrive.

[@mekz26]

I glad you did but encourage you to call them a one goldback not a one “dollar” goldback as they are not associated with the dollar. I know it takes time to change thinking.

[@lovemywife698]

Ikr. Mine come tomorrow.

[@drmosfet]

Every form of currency has a boogeyman, cryptocurrency has quantum computers, GoldBack's have space mining, they both seem far away until there not. I do like the ideal that GoldBack's don't need the internet to make a transaction and EMP immune.

[@mekz26]

What is space mining?

[@drmosfet]

@@mekz26 If it happens at all, the next gold rush will most likely happen in the asteroid belt in space maybe. Their a potential of finding so much gold that it could devalue gold to the point, that the cost of re-entry of the gold through the Earth atmosphere would set the actual price of gold. How exactly will someone mine? no one know yet for sure, until someone actually start mining at a profit.

[@rachelcody3355]

great vid and educational. wish they taught this kind of stuff when I was in high school.

[@robertsmith6068]

I learned and remember Gresham's law from high school.

[@markvoelker6620]

Gresham’s Law applies to the case where two different forms of money of different value circulate simultaneously, but are forced by law to be accepted as equal in value in trade. In such a situation, the higher value monetary unit is always retained while the lower value unit is offered in payment.

[@crystalkim7130]

Hey it's Silver Dragons! It's awesome you did this video.

[@jasonbuzzalini5174]

Still keep hearing that goldbacks aren't really gold, lol! I know they are, but it's hard to get fools to see the truth

[@MemoGrafix]

Don't worry about fools, God takes care of them in strange ways. GoldBacks ain't for everybody. Possibly in due time they'll see.

[@TheFlwildman]

@Mr10Residentevilfan maybe you missed the news, crypto is crumbling. the banking cartel will never allow any digital currency not strictly controlled by "them"

[@charlieabel1533]

According to Murray Rothbard, Gresham's law really goes like this: "money overvalued artificially by government will drive out artificially undervalued money." So this video is correct because the non silver quarters are overvalued by government decree, and the silver quarters are undervalued money by government decree, and Gresham's law does not apply to Goldbacks because there is no dollar denomination on them. The Goldback maker's did their homework well!

[@sovereignlivingsoul]

you provide a good argument, i am planning on buying some goldbacks and i am in canada

[@marthapenn8220]

I just got the ones I ordered and they are so cool! I'm hooked now and I'm going to order more of them.

[@beakfish7319]

I love these, i want to get one note in each denomination in each state line. Thats my goal. Lol im about 30% of the way there.

[@nubz8671]

It's bad money when you have such a price markup on these things. These things aren't necessarily a scam, but when you mark up these prices, they're just making money off you while you scramble over the FUD they sell you.

[@GoldbackInc]

What's the melt value on your car?

[@nubz8671]

@@GoldbackInc A car is a tool, like a hammer, or a laptop. None of these are investments. They go down in value. However, with the utility of a car, a hammer, and a laptop, someone could make millions and billions. However slapping some gold onto a fancy piece of paper and then overcharging it far beyond spot price is "scammy" but not a scam - it takes advantage of people's insecurities and their inability to understand value. It is not a tool. It won't make the customer money. It'll just make you money while customer instantly lose 1/2 of their input value. This is as bad as driving a car off the parking lot. Charge 10% over spot price, and this will be fair.

[@survivorisland]

​@@GoldbackIncthese conversations are hilarious. People keep relying on fednotes as a legitimate measuring tool for the "cost" of "buying" gold or goldbacks, and they are are "sellable" for back to a fednote. Uuhh, huh huh. uh huh. huhhh. Hey beavis, doesn't the constitution say its illegal to use money not backed by gold and silver? hehe, hehe, yeah butthead. I think they made like a law or something. You dimwit. Their using meaningless paper as a value system. (SLAP) Yeah, butthead, but uhhh. can you like, buy gold bars with goldbacks? Hmm hmm. heheh. Im confused. Hey look butthead, are people are being depopulated. Now i have even more gold but i don't know what to do with because like uh, hehehh, THIS SUUUUCKS!!!!

[@survivorisland]

Heheh. I have 2 million goldbacks, but it costs 4 million to buy a 12 sq foot tin shack to live in. Gotta pay for this thing called a mortgage. I heard its called a death pledge

[@freeradical1567]

Wonderful actual money!

[@nickkolczynskitattoo4865]

Hey silver dragons glad I found your gold page

[@DMF716]

I learned about Goldbacks from a prepper channel on youtube. I studied them over that weekend and made my investment on the beginning of that month. I continue to invest in them monthly now. I know the dollar will depreciate more in 2024. Several news sources claim another recession will start in 2024! Imo, it never quit, it's just going to get worse. Make goldbacks hot, otherwise when the dollar fails, YOU JUST GOT, GOT!

[@KD0CAC]

1st off I bought some GoldBack's , but for the reason of novelty . I did shop around and at the time from a couple of bulion dealers and a one dollar gold back was within a few cents double the cost of gold and the second place was 3 times the price spot ? So forcing my paper dollars to lose 2-3 times its value .

[@frankquigley995]

Yep right on with you.

[@mekz26]

Typically there is a bar at 73% premium for goldbacks over spot. May I ask how much devaluation of your paper dollar has happened in the last year??? Yeah you still have $100 bill In your wallet from last year but it will not buy $100 this year.

[@mekz26]

I bought gold backs for 3.39 each a while back and now they’re trading at 3.90.

[@R3LI2UI]

Food for thought: All currencies are based on subjective value. Silver/gold/diamonds are given a value based on what we believe they are worth (scarcity in silver for instance is driven by futures market.). Fiat currency value is based on future human potential...our ability to generate more worth via new industry and innovation. True value is in education.

[@nazarioj001]

I dont know if they'll ever really be used as money, but I think they'll have a lot of long term value as collectors items.

[@Etereys]

They're already being exchanged as legal tender in New Hampshire.

[@carlosgalindo7473]

Not only that they also fluctuate with the price of Gold

[@mekz26]

That will be true if people only buy them to collect them instead of circulating them.

[@garyabernathy8635]

The Goldback is designed to be a local currency within certain regions where a series exists, that being Utah, Nevada, New Hampshire and soon to be Wyoming. They are considered voluntary local currency.

[@NOSEMATICS]

Any word on the app? And is there a way we as individual owners of the goldback can check the purity and fineness in the case of replication/forgery? Great video dragons 🍻🍻🍻🤩👃🏻

[@billc.9389]

I seriously, seriously doubt anyone will be able to forge these with any sort of accuracy. Certainly not enough to pass them off as being legit.

[@frankquigley995]

@@billc.9389 bs anything can and will be counterfeited in time.

[@TheFlwildman]

@@billc.9389 i seriously doubt that anyone will know the difference anytime soon

[@ElegantlyYours]

Very informative, thank you!

[@markmaue438]

I have a few goldbacks only for the wow factor, it’s just crazy to pay 4.50 for a bill with a face value of a dollar. Premiums wether in the gold silver stacking are getting out of hand, I still buy but the price per oz can drop three dollars but barely budge because they raise the premium, sucks!

[@CCM2361-]

Nicely done SD!

[@keysersoze503]

No one ever went broke underestimating the intelligence of gold and silver stackers.

[@Cole_West]

There should be a 2 goldback in my opinion. Sorry if it sounds dumb, but I like the idea, even if it wouldn't work.

[@nickvolume2577]

Silver Dragons?

[@TobaccoRowe1960]

So that was a long explanation of Tangible vs Nontangible I got RaeRay a Nevada 5 Goldbacks for her Cigar Box 😊

[@oliverstianhugaas7493]

Lol Sir Thomas Gresham, (born 1518/19, London, England-died November 21, 1579, London, England) never could have imagined fiat currency as legal tender.

[@MarkMphonoman]

Good video, thanks.

[@sadikmeah4057]

I still prefer real money over this. And so does the company who sold you these goldbacks!

[@patricksachs3655]

I wince everytime I hear the term "instrinsic value" to explain actual value.

[@ericwallentine6119]

I appreciate why the literally gold-backed currency makes sense and also appreciate why the creation of them costs money. All makes sense. However, a 1 goldback today is $5.32 or $5,320 per oz. A one-ounce gold coin is $2,732. That is a 90% premium on gold ft or the goldback. Is the thought process that if our paper currency crashes, at least my expensive goldback retains at least its value in gold?

[@jester9159]

If I may, sir? Using your methodology if you were to buy gold by the gram (in bars), at the current market rate, you would be spending close to $3,900 per oz for gold by the gram (Since there's 31.1 grams per troy ounce. A gram of gold right now costs roughly $124 so 124 X 31.1 is $3,856 compared to the $2,750/oz gold price.) So yes I get that the premium is higher for the Goldbacks but you are still going to be paying a premium for ANY fractional gold in this current market. I personally buy them because it's more affordable and less difficult losing than a gram of gold. But I personally feel, at the end of the day, one should have a diverse portfolio with various kinds of assets in various forms.

[@jester9159]

Also, at the rate our country is going I'd much rather have a stack of Goldbacks in my account than Greenbacks. 🥃

[@ericwallentine6119]

@@jester9159 thanks for the reply.

[@redshifts]

After a lot of thought I would like to just say that Gresham's Law is technically not in effect here with the main reason being that the two currencies do not share the same face value like the example with the quarters. I DO THINK that it applies in the area of simply looking at this from the standpoint "good money bad money". I personally would rather use 4 $1 dollar bills then give up one of my 1 GB for a purchase. Because I see the GB as having that intrinsic value. Now to spread the word about GB's and the use of real money I am making the choice to use them when I can. Where I live (Arizona) there are places that accept them and my LCS sales them. He gave me one of the We accept GB stickers and I plan on using it when we have our local community yard sale.

[@albertnortononymous9020]

Gresham’s law will actually drive out the goldback because goldbacks are denominated in terms of the amount of gold they contain, just like gold bullion rounds and bars, but the goldback is worth MORE because of the proprietary patented machinery and process used to mint the goldback, as well as the royalties and artistic value of the designs and anti-counterfeit measures (right now, .001oz is $1.79, while one goldback is worth $3.85). Bars and rounds with little to no beyond-melt value are used way more than goldbacks by investors, and as soon as a less-expensive technology comes around, it will be used instead of goldbacks.

[@bosstone100]

I think a better example would be the three cent nickel and the three cent piece. The Three Cent Nickel was introduced because the three cent silver piece was being pulled from circulation. 90%, while yes they were silver were replaced due to the government's choice to do that. It was really a hard line and the issue would resolve itself. Just my two (or three) cents.

[@thomasannegilligan6250]

Is this a British example?

[@bosstone100]

No. That's the US

[@thomasannegilligan6250]

Learning new thing each day! The “trime” was a small sterling coin worth 3 cents issued for about 20 years (1851-1872) it was abolished in the Coinage Act of 1873. The copper version of same coin value was started up in 1865 and was discontinued in 1890. The five cent coin issued from 1792 to 1873 was silver. Looks like the Civil War caused a lot of effort to create some fake (unbacked paper and non PM coins).

[@bosstone100]

@thomasannegilligan6250 the silver five cent piece was a half dime. The word nickel comes from the metal. People are shocked when they find out the first nickel was three cents. The Coinage Act of 1873 was led by some congressman who had a vested interested in a nickel mine. To me, that was the beginning of the end for our currency having real value. It was just a matter of time. Within 100 years, no silver coinage.

[@chantzgunnell3240]

They should do even smaller denominations with 12k goldbacks

[@goldandsilverstack3]

Why do you sound like silver dragons.. Great video.

[@GoldbackInc]

Silver Dragons is running our KZbin channel for us!

[@littleredpony6868]

Greshams law is starting to be applied to the pre 1983 pennies and nickels

[@TheFlwildman]

yep, that was in the video

[@keithgarrett1306]

How do you know the real value of a goldback when the price of gold moves up and down so much?

[@josemaldonado6325]

The website shows average exchange rate for goldback

[@freeinhabitant76]

What about the Cantillon effect?

[@JN-fc2uz]

How can goldbacks retain value if spot gold goes down in price ?

[@vincentmckiernan4975]

Thank you.

[@danielbeach4855]

Their's law always wins - just look at history - no fiat currency has ever survived - and what emerges when the fiat currency has failed - a currency tied to precious metals.

[@jarodcrazyindian]

GBs are the future. We hope.

[@Bronxboy-p6b]

Premiums make it cost to much add up the amount of gold in the gold back add the premium then check the spot price

[@rsims87]

The main take away comes from the ignored part of the definition. Because there is no legal determination of the "face value" of a Goldback (it is determined by market forces) you don't have $4-$5 worth of silver with a face value of $0.25. Obviously no one wants to spend 4 or 5 bucks and get 25 cents out of it. On the otherhand, spending a Goldback at its actual market value is a win-win siutation. Long story short, keep the government out of the economy.

[@OculusVector]

I'd much rather have Goldbacks as our currency. To hell with paper fiat.

[@CuSTACKS]

Need an Empire State GB!

[@danielroy8232]

unfortunately, if you spend goldbacks, you are technically obligated to pay a tax on it because gold is seen as an investment, not money, by the government.

[@flipnap2112]

the capitol gains tax on that amount of gold would be close to nothing. but yeah the government will find every way they can to tax us. didnt we fight a war over this crap? the government is out of control

[@matthewholbrook1265]

U.S. currency is actually made of cotton with silk threads scattered within the notes

[@cdhearn14hearing38]

I doubt that they will take off but good to have though most people set in their ways as far as currency but these are very nice and eye-catching

[@jefflarson4982]

I saw that Goldbackw are not legal tender. Is there a national standard for goldbqcks or are they just state issued?

[@GoldbackInc]

They are neither but they are legally privately issued under state law.

[@frankquigley995]

And so no real value but for the novelty value.

[@mekz26]

Since when does gold not have real value?

[@TheFlwildman]

@@GoldbackInc which means what? exactly?

[@nautblue4284]

This guy sounds a lot like Silver Dragons.

[@justacinnamonbun8658]

Sounds/looks like Silver Dragons with a voice changer 😆. Well, well, well...

[@bartperry1262]

GoldBacks, although beautiful works of art, are over priced and worthless to me due to gold prices that fluctuate to sharply. Therefore a $1 GoldBack that may have 2 dollars worth of gold in it is actually costing a regular price of around 5 dollars and just not worth it. So, why would I pay two and half times more for a GoldBack when I can actually purchase a gold coin? I would not! Anyone who purchases a GoldBack for Gold content is an IDIOT in my personal opinion. If someone wants gold, then buy a gold coin because lets face it, no GoldBack is worth more then a coin. period!!!

[@davepetro5676]

A us Dollar B digital dollar C gold back D change with silver in it up to 1964 E half dollar up 1970 Or gold Or silver F credit card you pay back That’s 7 currency in USA I see.

[@epipen22]

This guy sounds like Silver Dragon.

[@friends-xu3fq]

I think the artwork has some value, for me..

[@magnusx5952]

Is this silver dragons???

[@matthewholbrook1265]

When and if the goldback become a national spent money, most likely you'll see them leave the states to foreign countries and be melted for the content

[@survivorisland]

thats why we have nukes

[@marke.9971]

the US should go to holdback....will save us.

[@NirvanasFarm9448]

Silver dragons?

[@StevenTripp-e2v]

Pennies today in the ground erode into dust.

[@robertdaniel6044]

No.

[@ConcealedCarryAndrew]

Gesham's Law is meant to be broken.

[@StevenTripp-e2v]

HMMMMM COPPER DIRT COIN OR 90 PERCENT SILVER.

[@trp2413]

As soon as I buy, they will be worthless

[@miked7745]

So a one dollar goldback is worth a dollar in gold? But I have to pay 3.75 for it. How's that work? And if gold goes to 3000 an ounce, is it worth only 1.00?

[@GoldbackInc]

Goldbacks aren't dollars. Goldbacks are worth $3.75. Dollars are worth $1.00. Just like there is no such thing as a bitcoin dollar. If gold doubles in price then Goldbacks will at least double in price.

[@miked7745]

@@GoldbackInc ok, maybe I got confused cause they say 1, 5, 10, 20 on them but that's just for art/what they are closest to in USD?...I should actually go by the weight printed on them. I like gold but I need the price to come down on them. 3.78 x 1000 is 3,780. I can get a kangaroo for 1,900ish. hopefully manufacturing costs come down or something. I like the concept though.

[@GoldbackInc]

@@miked7745 A Goldback is a unit of measurement. 1 Goldback means 1/1000 of a troy ounce. goldback.com/exchange

[@undeadaeon9992]

The gold back is worth 1/1000 of a troy ounce of gold and the its ability to be spent. So 1/1000 of a troy ounce as of right now is like 2 dollars plus the premium of the goldback you're looking at like 3.80-4.00 for 1 gold back as of todqy

[@undeadaeon9992]

@@miked7745I'm stacking them just to have them. Plus it's never a bad idea to have an ounce of gold backs in case you have to jump the border to Canada or something. Or you're a Ukrainian that just got fucked by Russia and you have no foreign currency except gold backs.

[@b_to_the_b]

I think you’re giving too much credit to the usefulness of Precious Metals….

[@frankquigley995]

I don't think gold backs will take off. But the early ones will be collectable as a collectable product and worth buying. Only as a numismatic ceriactiy.

[@jamierivera7259]

I think that the law is a lie, both metals have value, value is determined by what you can do with them not for what they are, bad money is ruling because people who are profiting greatly don't want people to profit as much as they do, they want control of the financial system which is not right,no one should be in charge of the financial system, the problem is that law abiding citizens are not smart enough to make sure that those who like to break law succeed, if you know someone is dealing treacherously you as a good law abiding citizen must not trade with them, the only way to do that is to make sure you are very knowledgeable, if you help them succeed then they will get better at being bad until they all band together to do bad, which is what is happening

[@BillGuyHawaii]

Can you test it for true gold content. Just trust 'em. Think not. Not U.S. currency, Must pay capital gains? I will not accept for payment for anything. Buy real gold US coins .Bad money, what a joke

[@RogersMgmtGroup]

You should spend the fiat before you spend the Goldback according to Gresham’s Law. But even IF you want to spend that gold colored paper who actually accepts it? The USD is recognized and accepted world wide. In the darkest corner of the third world you can buy anything available with USD.

[@bayrabaven4250]

No. Not ruined. But they will never be used as a medium of exchange or unit of account until the USD is toilet paper...as one sees in Venezuela....Gresham's Law is why you don't see people knowingly spending silver quarters or gold eagles at the store right now. Goldback isn't a different money. It's just responding to market forces the same way that gold and silver do. 4:11 - "You might be more likely to spend the USD because it's losing value year after year and more likely to hold on to goldbacks because they will hold their value" (You just described Gresham's Law perfectly) "However one is not going to drive the other out of circulation." Paper and digital dollars have *already* driven gold and silver out of circulation (along with a few evil laws). As far as wanting to spend GB because the system is rigged against us...yes. We would all love to never use USD again. But, as long as we are PAID in USD, that's not even an option. Remember about people RUNNING to spend their paychecks before bread inflates in Germany? That's where we are now. So, as long as dollars are what are given to us, we want to spend them fast. Now, get rid of the rest of the shenanigans that GB does and things will be great ;)

[@Featherless1]

Banks are found on the sides of rivers. They control the flow of current........cy😉

[@TheFlwildman]

How does one use these at walmart? these "laws" don't really apply to what is going to happen soon. how does a gold bill stack up against a digital currency strictly controlled by a government? one can hold this up against a dollar, because we know what it is worth, less each day, but it is something we can relate to. in an established, for the moment, economy. what is gold, any gold worth in a digital economy? answer: whatever you can get for it. which may be nothing, as the digital economy overlords may define that. or maybe they simply outlaw private ownership of any gold, ring a bell? can't eat gold, been tried. tangible goods are your best investment right now, if you can eat it, lay on it, live on it, ride on it-etc. but by golly they are cute though aren't they. lot cuter than the stamps and two-dollar silver certs i got from my old man as a pass along

[@Antenox]

Goldbacks are dumb I'm sorry, but they just are. You're literally paying more for the plastic it's laminated with than for the gold. Maybe they have some value as decorative pieces, but as "currency", just use combibars or silver coins.

[@Bangingyourmom]

Silver coins and especially combibars are marked up SUBSTANTIALLY and harder to spend fractionally. Best to have a variety of tradables when the shtf, no??

[@undeadaeon9992]

Gold backs are better fractionally and they can be stacked. You could make little profit and get the premium money back.

[@-my4skinwastakeninasickjew426]

Is this the Silver Dragons guy?

[@GoldbackInc]

Yes!

[@rsims87]

The main take away comes from the ignored part of the definition. Because there is no legal determination of the "face value" of a Goldback (it is determined by market forces) you don't have $4-$5 worth of silver with a face value of $0.25. Obviously no one wants to spend 4 or 5 bucks and get 25 cents out of it. On the otherhand, spending a Goldback at its actual market value is a win-win siutation. Long story short, keep the government out of the economy.