You Won't Believe How We SPENT GOLDBACKS Today!

In this Goldback spending series we talk about spending Goldbacks. In this episode we go get lunch at a local restaurant and then shop at the local hardware store! There is a list of businesses on the Goldback website that are pre-approved to use Goldbacks at. Using Goldbacks as a currency is the intent of the Goldback. When it comes to spending Goldbacks about 50% of small businesses will accept them when you are talking to the business owner. Goldbacks can be used right now for barter and will able to able to be used in a SHTF situation. One thing that sets Goldbacks apart from other currencies is the fact that they are backed by the gold they contain and the fact that they are able to be spent in small amounts. The states that currently have Goldbacks are as follows: Utah Goldbacks, Nevada Goldbacks, New Hampshire Goldbacks. The Wyoming Goldbacks and the South Dakota Goldbacks are coming soon as well as Goldbacks in many other states. If you are wanting more information on spending Goldbacks then go to the Goldback website to find the current value and where to purchase them for yourself.
Goldback Website:
goldback.com
Topics covered in this video: Goldback spending series, Goldback spending, Goldback wallet, spending Goldbacks, spend Goldbacks, spending a Goldback, how to spend Goldbacks, how to use Goldbacks, Goldbacks, Goldback, Goldbacks wallet, Goldbacks currency, Goldbacks value, Goldback value, value of Goldbacks, what are Goldbacks, should I buy Goldbacks, should you buy Goldbacks, Utah Goldbacks, Nevada Goldbacks, New Hampshire Goldbacks, Wyoming Goldbacks, South Dakota Goldbacks, Goldbacks as a currency, gold as a currency, gold currency, gold, spending gold, how to spend gold
#Goldback #Goldbacks #Gold

[@DeGreyChristensen]

We just got our “We accept the Goldback” sticker at our chiropractic office. Super excited to get involved trading with this currency.

[@GoldAndSilver988]

Please add Alabama. The deep South needs a Goldback representative.

[@rossmanIVXX]

Sc and Louisiana are the only states in the south that accept gold and silver as legal tender. So it would more likely be one of those two to get a gb

[@nicholasheidrich1875]

I wish there was one in the Midwest. The closest state to me that accepts these is eight hours away.

[@DavidLeeRothsAlterEgo]

​@@rossmanIVXXI'm surprised Arkansas isn't on that list.

[@thebudgetprepper]

Thanks to you, I just bought my first round! LOVE IT!!!

[@generalesdeath5836]

Arizona resident here, I hope our state gets Goldbacks soon! I understand if you want to do Texas first, but I’m super excited for an AZ gold back!

[@DavidLeeRothsAlterEgo]

We do need one. It's long overdue.

[@DennisTrue]

I love GB and I’m looking forward to greater acceptance. You know what they need? An APP!!! for iPhone and android. It would make it easier for people to understand and I’d it had the current exchange rate as well as the calculator built in this would make it easy for both merchants and customers to figure out the rate and agree please please PLEASE do this Even better if you could include other common currency’s so if we travel into Canada for example they could convert directly from GB to CDN.

[@HexproofAnarchist]

YES! An App with features like calculator and authentication would be smooth! 😎

[@elainemarshall4371]

Love sharing this information!!! Ty

[@NOSEMATICS]

I’m totally onboard with the Goldback!!!!!🍻👃🏻

[@newslavecity8311]

its nice but too high premium. they are nice and worth it but dang

[@patricksachs3655]

​@@newslavecity8311 Actually, the premium doesn't matter because it's actually part of its market price. That means you can buy it and spend it at the same average price, which today is $4.04 =1 goldback. In short, you don't lose anything with the premium.

[@newslavecity8311]

@@patricksachs3655 premiums do matter. premiums fluctuate up and down just like the value of the gold or silver weight. if ur using this as barter its most likely to loose all its premium, if someone asks for 1 gram of gold for food, its gunna cost u 1 gram whether is gold backs or straight bullion. if ur a collector more than likely the premium will go up if the world remains peaceful. the premiums for gold backs are just too high in my opinion, i cant justify getting 1 oz of gold for the cost of 2oz. also the premium matters more as the value of the metal rises and falls. if the price of the metal falls ur premium becomes more valuable. if the price of the metal rises ur investment in the premium is nearly lost. for instance if i buy a 10 grams of gold for 1$ thats 10$ for 10 grams. u buy 1 gram with premium for 2$ so u pay 10$ u get only 5 grams. if the price of gold rises to 10$ my return would be i make 100$ minus 10$ so 90$ profit. ur return would be 55$ minus 5$ so 50$ profit. as the price changes more and more ur premium acctually does matter substantially even if u make ur premium back.

[@newslavecity8311]

@@patricksachs3655 i just wanted to explain that so ur not misinformed. if u want to collect then by all means, but if ur goal is investment always go for something with lower premium, u just get more metal for ur money. even if u buy a 20000$ rare silver coin, if i buy 20000 in silver and the price of silver rises, my 20000 investment will increase while ur will most likely stay the same. buying high premium items can be fun and rewarding but never forget ur buying a show piece. to say dont worry about the premium u get it back is a misconception most people have. now ill say i dont buy the cheapest stuff out there but i stay around government minted coins even if i have to pay a couple bucks more, but u wont catch me paying double for the same amount of metal.

[@patricksachs3655]

@@newslavecity8311 I'm not misinformed, and you seem to have missed the point: The premiums don't matter, because, as I've already stated, they are part of the market price..The only time the premium would matter is if there were a significant drop in the price of gold, which is not going to happen. That's why goldbacks are also a good investment. Having said that, the whole point of the goldbacks is to spend them while protecting purchasing power, and they are very well-suited for that Whether or not silver is a good investment is irrelevant here.

[@NOSEMATICS]

Wyoming soon!!!! I can smell it. 👃🏻🍻🚀

[@mikem7489]

Preordered mine a few weeks ago

[@markherrera5540]

@@mikem7489 what website please thanks

[@josephglover4546]

Paying with 8 goldbacks: $46.24 Purchasing power: $16.24 Paying with two 1/100 oz bars: $56.58 Purchasing power: $40.60 (an additional $24.36). Overspent by $10.34, but could purchase twice as much for the money invested; you could literally pay double for everything and still come out ahead trading hundredth oz bars! And Bitcoin is also a thing. . .

[@dalasure1805]

Love the Goldbacks! BUT If they want it to be a currency, they need to figure out how to eliminate the huge premium over spot to purchase them. If they are to be adopted, it will begin with gold and silver buyers. That group will not willingly choose to pay the massive premium when they can just buy gold or silver coins at a more reasonable spread.

[@michaelsimmons9052]

Shouldn't we be looking at the premium as a "Tax" for the manufacture and distribution of the the goldbacks. It sure beats the government's taxing me just to devalue my money.

[@dalasure1805]

@@michaelsimmons9052 Hi Michael, thanks for the reply. One of the major attractions of hard money is that it is free from devaluation via inflation and other taxes. If we are to justify a Goldback tax we might as well just keep using fiat, as stated earlier, or keep buying gold and silver coins and rounds in those states where there is no tax and they can be bought much closer to spot! Think like a currency trader, not a wealth manager. I remember when stock brokers charged $40 -$60 per trade. That was the “cost of doing business”. Today no one in their right mind would pay transaction costs like that. I’m not against the producers making a profit, just let them compete in the same way that any currency trader does, or even the local coin shop dealer. I hope they figure it out because I really like the product.

[@SilverGuy144]

You do realize that Goldbacks retain 100% of the premium, right?

[@jdm5857]

Untrue. It costs around $5 for a 1$ Goldback but around $3.75/ dollar for a 50. Until you can aquire all the denominations for the same exchange rate across the board it will not work

[@SilverGuy144]

@@jdm5857 It is not a $1 Goldback. It is a 1 Goldback Goldback. They are two separate currencies with an exchange rate between the two. Also, it's not always $5 for one Goldback. Try checking on other sites. Some places even have them below the exchange rate.

[@GoldAndSilver988]

True inflation for the past year has been about 15-20%.

[@Ed-ig7fj]

Hey JP, I had a college professor who was descended from the earlier Joseph Priestley. I asked him if I needed to pay him a royalty for the oxygen he discovered every time I breathed. He said no, but if he changes his mind, I will be able to pay him in Goldbacks! Take care. --Old Guy

[@GoldAndSilver988]

@@Ed-ig7fj Lol, I'm thinking that maybe a 5GB per day should be sufficient to cover your daily oxygen supply due to the inflation effect upon the gas from the 18th century until today.

[@inspirationalmindset8235]

Please do Wisconsin. Wisconsin needs this big time!

[@JOHN58476]

Ih guys like the idear off what you doing with goldbacks have you guys been look at adding sivler backs as well to market as well ?.

[@michaelt.9372]

I’m totally onboard with these. The only thing that holds me back is the premium. I totally understand there’s very expensive manufacturing costs.

[@lxrddangel9354]

That was interesting 🧐

[@tonypittsburgh9]

I bought around 1500$ worth. If the dollar collapses, these will come in handy

[@ndrthrdr1]

Arizona next?

[@JesusGARCIA-yn6yb]

Amazing… 😮

[@HappyHermitt]

I just bought a handful only to collect. Id like to get every bill they put out eventually. If they ever stop making them, they should be some hot collectors items.

[@jaybarr3307]

Huge fan of these. Bought fifty NH and will be planning a day to see how well I can spend 'em Will also try in non-affiliated businesses and I'm betting some will go for it.

[@Terry-zr6ys]

Nice Star note.

[@glenfields4016]

Need to make silverbacks as change for goldbacks for everyday small items.. i.e. if i wanted to buy a chapstick for lets say $1 a 1goldback would still be to much id have to get my change in a silverback or something like that

[@A_Box]

I don't live in the US, so is there a way to invest in your project?

[@MrAllenTv773]

Send money I can order u some I just bought some this week

[@coltonkinder1424]

How much would be reasonable to carry, and in what denominations?

[@l.v.i.bushcraftandsurvival6692]

The problem is Change. I do not want fake fiat ‘money’ as Change for my Gold. Needs to be stamp sized Goldback Change.

[@SilverGuy144]

I would love to see something like a half, quarter, and 1/10 goldback!

[@l.v.i.bushcraftandsurvival6692]

@@SilverGuy144 It HAS to happen if it is to be taken seriously as an alternative currency - because I sure aint going to accept pot metal or Fake Money (Federal Reserve notes backed by Hot Air) in change for Gold!

[@kalebparham]

When are y'all gonna get to Va?

[@charlieabel1533]

I simply ask "Paper or Gold?" and show them the Gold

[@gword256]

Smashed

[@bettyknappen5774]

Nice STAR notes

[@CuSTACKS]

How do you liqdate them of you don't want to spend them but csh them in?

[@nazarioj001]

We need for fractions. The way the dollar is headed, how about a 1/4 goldback? That'd be around $1US.

[@ssiefman]

If you use fiat can you revive goldbacks as change?

[@marigold973]

Dare I ask: Is New York State goldback a possibility?

[@GoldbackInc]

Someday!

[@brantleyray1049]

When will Oklahoma get printed?

[@CV_Brandon]

After Arkansas passed a law making paying in gold and silver legal last year I hope this makes its way to us

[@996917]

I love the concept and I fully understand fiat currency. It seems unaffordable for most to pay $4.00 for $1 dollar gold back.

[@mikerobak790]

What if the Chinese food came to 7.37 goldbacks? Are there fractional goldbacks? Are there silverbacks? How do the stores adjust for changes in the value of gold/goldbacks versus the dollar? Does the restaurant base the value on the actual gold content/spot price?

[@DeGreyChristensen]

The website has a calculator that can calculate change to be returned in US currency. So if you are charged $7.37 then the calculator says that you pay 2 goldbacks and the cashier owes you $0.51 in change. So you are left with 51¢ of standard USD currency, after paying with goldbacks.

[@christophergarland2266]

Can you spend goldbacks that are from one state in another state? Do they care if you are in Utah that you pay with a New Hampshire goldback, etc etc???

[@GoldbackInc]

Great question! You can spend Goldbacks anywhere that accepts gold as payment. Regardless of what state Goldback it is.

[@kalzharris9978]

im definitely investing my money this is real gold currency dont be stupid now people ⚠️💱♻️

[@tdavenport9750]

If the price of gold drops then what is the price of gold?

[@Gold-and-cards]

I Will like to buy goldback but i cant. I am from Denmark

[@MrAllenTv773]

I can send you some

[@jasonhenza]

Where are you New Hampshire?

[@brianmcdougall6271]

We have to put them in a rap video for them to take off

[@martingonzalez351]

Que puedo aser para comprar un paquete de Goldback

[@Cole_West]

Is it just me or does the guy's voice sound familiar👀

[@ismaeel747]

So I would argue on one point about the value of the dollar being based on nothing. The value is derived from the fact you pay your debts and taxes in them. Banks create dollars when they give loans and those loans must be repaid in dollars, also your taxes must be paid in dollars (I assume, I am not American but where I am you have to pay them in the currency).

[@ORIGINAL_INTELLIGENCE]

Can you spend gold backs in Texas?

[@GoldbackInc]

You can if you find someone willing to take payment in gold.

[@christiansummers562]

How would you know the cost in goldbacks? say I want to buy a hammer for 5 American dollars at Ace. Do I see how much gold I can get for 5 dollars in use that math to tell how much in Goldbacks I need to pay with?

[@kevinbrown9485]

Let's remove the word hyper from "hyper fractional".

[@barbaraadams8219]

1/1000 th is roughly 1.90$. How much does one cost to buy?

[@rossmanIVXX]

Between 4 to 6 plus shipping currently for 1/1000 bill. The premium on these makes them unusable imo. I bought a few as a collectable piece of art. But don't see them as being practical currency

[@rodb335]

I'm waiting on Wyoming and South Dakota I collect these notes from around the world China is the biggest producer and the best quality of golden silver banknotes by the way

[@kittatinnytree]

I'm building my goldback wallet and I'm awaiting the opportunity to use them, but living in PA, that may take some time. Watching this video makes me question who is benefiting most from a goldback transaction, and it isn't me. I buy the goldbacks with dirty fiat, pay shipping, and then give them the good stuff that amounts to $4000/oz, and it's gone. Then it's wash, rinse, repeat. I really like the concept and I accept goldbacks at my business, window decal included. It would be nice to receive some for my services at some point, but as a customer I fail to see anything other than a novelty as the benefit. Be nice to me in the comments, please. I'm a newbie.

[@johnpower8356]

Cool idea but I saw them on line for 100% marked up from the fractional $1 $5 $10 $25 $50 crazy high premiums or maybe that's what the amount of gold is worth. $1 gb was 1/1000th of an oz. so at. $2385 ÷ 1000 = $2.385 usd.

[@777tjohn]

Does 1 gold back = 1 regular dollar? How does that work?

[@GoldbackInc]

Great question! 1 Goldback contains 1/1000th ounce of gold. If you go to Goldback.com you can see the current exchange rate. 1 Goldback is about $3.91 USD.

[@michaeltangusso9801]

I tried to explain this to my brother-in-law he just keeps telling me i am crazy and its not true !

[@Bruce-Leroy]

Batman/Goldbacks 2024!!

[@kevinbrown9485]

Omg what? lol

[@Bruce-Leroy]

@@kevinbrown9485 just go with it bro.

[@wyattchiordi5132]

Make a New Mexico goldback!

[@tkdmike9345]

Gold can be inflated away through massive mining deposits / activity

[@ElegantlyYours]

Love this idea. However, I saw in another video a man went to purchase a candied apple and handed over three goldbacks. At the exchange rate each was worth $3.75. That would mean he just handed over $11.25 in gold for the apple. That’s a lot! Lol Why couldn’t he just have handed over one goldback? That would mean I’m buying one gb for $3.75USD but it’s purchasing power is only $1 USD. GB’s are nice and all but if that’s true I’m losing money so it isn’t worth it. Am I wrong? Can someone help me understand if I am?

[@Rootreaper]

Idk if you noticed, but the guy 50 seconds in the video paid the restaurant one 5 dollar GB and two 1 dollar GB = 8GB meaning at today rate of 1/27/2023 was about $30 in USA fiat currency. It is about $30 to pay for two people are a restaurant like Wok these days - so he paid basically the same price. A 5 dollar GB is worth about $18 as of 1/27/2023 which means it can buy a $18 worth of fiat currency. I hope this makes sense.

[@ElegantlyYours]

@@Rootreaper that makes sense. After watching this video, I looked into it further. Geez, that first guy, that was a lot to pay lol

[@lovemywife698]

I ain't spending CRAP!!!😂😂😂

[@JC_Chappy]

Silver Dragons?

[@HistoricMetals]

yes - he seems to be sponsored by them and does their channel, without much transparency but with his unmistakable voice.

[@TheRookie330]

Come on ohio goldbacks

[@GoldAndSilver988]

Please address the four objections to Goldbacks in this video: kzbin.info/www/bejne/Y3q7n2iuoteHp9U

[@ladypyro7987]

My problem is the price! The premium is not worth it for someone living paycheck to paycheck. I’m gonna talk my 100 year old grandfather to buy Goldback for his youngest great grandkids to keep, instead of putting there money in the stock market give them Goldbacks’s.

[@GoldbackInc]

If your living paycheck to paycheck Goldbacks would be one of the best products. They are $5 for 1 right now. Gold doesn't get this cheap. Spread > Premium

[@jrhunt414]

I’d take goldbacks but there’s no way I’d exchange for anything other than at the spot rate. If goldback sets the value of a goldback as anything above the value of gold then it’s still a manipulated Fiat currency.

[@michaelharris6157]

$20 oz of gold in 1970?? It was $20 pre 1933...1934 fdr revalued gold at $35....1970 we were looking at $38

[@undeadaeon9992]

I just want it to collect it and in case shtf. Emergency funds Incase Russia comes thru.

[@wauliepalnuts6134]

*_8 GOLDBACKS FOR YOUR LUNCH EQUALS ALMOST $30 IN FIAT CURRENCY?_*

[@kivie13]

Depends on the lunch. Locally where I live a #1 meal at McDonalds costs nearly 12 dollars and that isn't even with large fries or drink. Multiply that by 2 because there were 2 people eating lunch in the video and you are looking at 24 dollars. So considering what they weren't eating McDonalds slop it isn't too far of a stretch that nearly 30 dollars for lunch for 2 people is within the realm of possibility in today's world. I wouldn't pay that though, I would rather buy a loaf of bread and a package of bologna and eat it in a parking lot than pay that price for lunch.

[@wauliepalnuts6134]

@@kivie13 *_I CURRENTLY HOLD THE RECORD FOR MOST CHICKEN NUGGETS EATEN IN ONE SITTING (95) AT THE MCDONALD'S LOCATED IN DELRAY BEACH, FL OFF OF LINTON BLVD._*

[@kivie13]

@@wauliepalnuts6134 You are my hero good sir!

[@Bruce-Leroy]

@@wauliepalnuts6134 mad props. What’s your preferred dipping sawwwuse?

[@wauliepalnuts6134]

@@Bruce-Leroy *_BLOOD OF MY ENEMIES._*

[@sarmadaqrawi8064]

I love the idea but I am concerned that China 🇨🇳 will produce fake Goldbacks That is why I ask How do I test the authenticity of Goldbacks

[@Kielforreal]

We'll see how long it takes the fed to outlaw this. But will keep buying it. 80k new IRS agents auditing soon. Keep your powder dry.

[@covidisascam4556]

Bitcoin makes gold obsolete

[@rossmanIVXX]

😂

[@MrAllenTv773]

Thing with that tho government can shut it down at anytime

[@vander9678]

@@MrAllenTv773 how? it's decentralized. US gonna go into russia and china and force them to shut it down? What about in some random African country. I don't think so

[@wildone5295]

What this guy doesn't tell you is what these things cost lol! Second you need a special wallet! Third this currency can't be bent - it will break! One ounce would cost you around 3700.00!!!!!! If you bought these gold backs. Lmfao

[@chaneejackson]

I have some and if it breaks that means you cut it because it's very durable

[@SilverGuy144]

Let's say you buy 1000 goldbacks for that 3700.00. You can then go and spend the 1000 goldbacks for 3700.00. They retain 💯% of the premium after you buy them. They have an exchange rate listed on their website as well.

[@user-xu5dp9sb4g]

So with a 100% premium that means something that costs $100 actually cost $200 using goldbacks correct? And if you pay with goldbacks and need change it will be in US dollars? Which means you actually got HALF of your change back?