GOLDBACKS - Should YOU Be Buying The Goldback?
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- เผยแพร่เมื่อ 6 ก.ย. 2024
- In this video I talk about the Goldbacks! I go over what goldbacks are as well as why people are buying them. The Goldbacks currency is a hyper-fractional gold bartering tool. The Goldback started with the Utah Goldback, but it is able to by spent anywhere in the world. The Goldbacks value is listed on the Goldback website. Spending Goldbacks can be done anywhere where the person accepting the Goldback currency is willing to take them for barter. This Goldbacks documentary consists of my reaction to the Goldbacks, and my explanation of what they are. I am going to try to get a Goldback wallet soon so that I can go out and spend my Goldbacks in my community. The Goldbacks are very tough and stronger than US Currency. The Goldbacks value is in the gold which each Goldback contains. Currently as I am filming the video 1 Goldback is worth $3.12. Because Goldbacks are difficult and time consuming to make each one does carry a premium of about 70% although I believe that the premium is worth it for the utility of being able to easily barter with the hyper-fractional gold. I also think that the Goldbacks designs are very cool and I cannot wait to see the new Nevada Goldbacks when they come out. Below is the website to see the Goldbacks current value and the next link is the place to buy Goldbacks which can be vaulted for free.
Goldback Website:
goldback.com
Alpine Gold Vaulting
alpinegold.com/
My Website:
silverdragons4...
Check out SD Bullion for AWESOME Deals on Gold and Silver!
sdbullion.com/...
Below are some AWESOME products that I use:
Inexpensive Scale for Weighing Silver and Gold
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Black Ring Capsules for most Silver Bullion Coins (38mm)
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Black Ring Capsules for American Silver Eagles (40mm)
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Gloves for Handling Coins
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Paypal/Email:
silverdragons47@gmail.com
Also check me out on Instagram:
/ silverdrago. .
If you want to mail me anything here is my address:
S. Dragons
P.O. Box 304
Gresham, OR 97030
Thanks for watching!!
Disclaimer: Some of the links are affiliate links where ill earn a small commission if you make a purchase at no additional cost to you.
Topics I cover in this video: Goldbacks, Goldback, Goldbacks wallet, Goldbacks currency, Goldbacks documentary, Goldbacksilver, Goldbacks utah, Goldback utah, Goldbacks value, Goldback value, spending Goldbacks, value of Goldbacks, what are Goldbacks, should I buy Goldbacks, should you buy Goldbacks, utah Goldbacks, nevada Goldbacks, where to buy Goldbacks
#Goldback #Gold #Goldbacks
I bought 1,5,10's a few weeks back. They were so far beyond any image I have seen, that I immediately ordered the 25, 50's. They are worth it just for the art. Stunning.
I agree, I gave them for Christmas presents - they were so beautiful!
They are worth it for the art I bet, if baseball cards and stamps and posters can be worth big $$$ I'm sure artwork with gold in it will be worth some serious $$$ in the future.
I actually used goldbacks to help as a teaching aid in a class i teach up here in economics...its amazing how Well people pay attention amd understand better once they actually can see and hold one...I even handed one to each in the class to keep and help get them started...im still debating wether to continue using the godlbacks or something else...but so far these help...more than half my students actually started buying these...so people do like these...personally I've given most mine away or traded them ...just not my thing...but I can see why many stackers like them...and when I took a class vote 63% preferred these over actual coins or bullion...and I was surpruaed by that.
Interesting info. Did they prefer the goldbacks as they fill a wallet better than a pocket full of jingle-jangle? Thanks for sharing :)
@@aedressler eveyone liked them... But who doesnt like a free goldback lol...but about half actually ordered more so id say it was a success
Your students are lucky to have you.
@@aedressler thank you
wow that is very cool! what a great teaching tool! 🐉
I bought a complete set plus a lot of the “1s” for gifts when they first came out. The are also pieces of art.
very cool and yes they are for sure! 🔥🐉
Too bad they do not ship to Canada, as I just found out. Not on MoneyMetals anyway. They don't consider them builon and will only ship pure silver/gold builion.
They are beautiful. I've gotta get some.
That's Kool man I was thinking the same they will make great gifts
@@Delilaah57 thats a bummer.
The main problem for me now w/ goldbacks, is the very high markup in the gold over spot. I am not willing to pay 70% over spot for gold. Until the markup over spot becomes low, I will probably prefer 90% silver coins.
yeah junk silver is cheaper typically as far as premiums are concerned. but these are a good option as well for SHTF bartering and no one is saying you can’t have both 🔥🐉
I totally agree. The premiums are insane and it's a horrible investment vehicle.
Some info I got today from Goldbacks:
Yes, the gold is recoverable as the Goldbacks can be melted down (the plastic burns off leaving just the gold behind). Early on one of the Goldback employees accidentally washed and dried a 5 with their laundry and it came out wrinkled but no gold was lost, and there was no heat damage. Folding the Goldbacks will leave a crease in them, but does not damage them materially. As such we do not recommend that individuals fold them and we created a custom wallet so that individuals could carry them without folding them, but the value does not decrease simply because they may get creased.
yeah they crease for sure but so do fiat bills. they will never get graded 70 after a fold either 🔥🐉
@@SilverDragons47 Oh no, imagining the cost of grading something with so little gold value and such large premiums out of the box.
@@drip369 Would fit nicely I'm sure in a biker wallet
The exchange rate is much higher than melt. Thank God lol
Woohoo!
So Willy Wonka's Golden Ticket becomes a reality.
lol yep there you go 🔥🐉
Haha got to love it
LOL! Nice reference!
@@SilverDragons47 I like your show very interesting I would to ask you two questions are these goldbacks used only in Utah or you can use other states
Why is the Mexico libertad twice more expensive than the American eagle in Canada sliver gold bull
This answers my question of how modern commerce could be conducted with actual gold backed currency. Crypto is nice and all, but really, physical cash is king. Goldbacked cash ensures that currency's value since it's backed exclusively to the gold market.
This was really helpful. Thanks for sharing this SD!
Anyone who is just looking at the high premiums and saying no I would say this. If you are watching this video you are likely a stacker and likely you appreciate beauty in metals. You probably are also expecting and hoping for the day we get away from fiat funny money. The one dollar is only three dollars or so and purchasing one or two is not going to break anyone's bank. Just skip that morning coffee. It is a great way to support the movement and I guarantee you will be glad you did. These things are absolutely beautiful and cool to show to friends and family.
But bro , I need that 100 oz gold bar to avoid that premium
SilverDragons, they are pretty! At least they are worth more than the paper of fiat! Very cool. Thanks for sharing.
yes worth much more than fiat! 👍🏽🔥🐉
I remember your reaction to the goldback on the coast to coast show and was a little surprised. I'm glad you investigated them and determined their true purpose. They aren't for stacking due to the premium, but their utility as a currency is amazing. Technically, you can even pay in fractional goldbacks since you can easily just cut them in half or quarters.
Also, I like that they are different sizes, which is a common problem for blind people using regular US cash. A lot of thought went into these designs to make sure anyone could use them.
yeah after taking with the founder I realized that I completely misunderstood their purpose 😂🔥🐉
I just ordered about 50 of these for Christmas gifts...they are Beautiful!
When I first bought the goldbacks I wanted to hold it like gold & silver and buy it for the design series.
I also like the durability of the goldbacks because the printing process of the fiat $1 currency is three cents because its paper in addition the goldbacks printing process is electroplating which is a higher value and well worth to buy.
I was aware of these but I never thought I would want to own 1. You just did 1 hell of a show so now I am going to grab a few of them
Honestly, I just want one of each goldback for display purposes mostly. They are more official looking than our official currency lol. Nice conversation pieces as well.
I just discovered these things. They are super cool! I was blown away at just how fast they sell off the internet retailers.
Any precious metal barter currency is a good idea. At least to have a little on hand; stacking or not. Should your fiat currency suddenly collapse, you want some portable money that won't lose its value (especially if you need to cross a border). Big azz bars of silver are nice for holding onto, but its good to have something quick and easy that's valuable anywhere too.
yeah they are a good idea to have on hand for sure! 🔥🐉
Good video! I started buying goldbacks about 6 months ago. Before that, I had several troy ounces (and partial ounces) of gold and silver. But I don't want to be carrying around bullion -- it's bulky and heavy. So I traded in all my gold and silver bullion for goldbacks. For my purposes, goldbacks are the perfect solution. They're compact, have nice artwork and are REAL gold! I highly recommend goldbacks for anybody. Yes, some people just prefer bullion and I understand that. But goldbacks are definitely worth investigating.
You're lying 💯
Banknotes that are actually backed by the precious and finite material which they are mode of. This is brilliant !
I love them. Living in Australia, but from the states, this is an easy way for me to get gold sent to me. Have close to 1000 already.
Makes sense to me..their value is in the gold + manufacturing cost. It does cost to make 1000 goldbacks rather than a 1 oz coin. Plus that cost is passes on and on, so long as the goldback is in GOOD shape. I would not accept a mishandled goldback.
I don’t see the sense in buying things I know my local coin shop wouldn’t buy - interesting video & I’ve been wanting to know more about them! Thanks SD!
obv scam imo
Yeah I know what you mean I prefer really liquid stuff things I can take to my lcs or even a pawn shop in a pinch and sell
yeah they are more for the prepper types not the stacker types it seems 👍🏽🔥🐉
Just checked with my LCS and they won't deal in "goldbacks" at all... Hmm
The coin shop will not take them.
Excellent video, as usual. My son is graduating from college in May. I have not been able to give him a gold coin like I wanted, as for health reasons,with post heart attack and college bills, I am pretty much just getting by. Still blessed! A set of these will make him a gold owner after all. Thanks for the great info and idea!
My first impulse is to consider buying some --- and I find the premium is fair albeit much higher than if you bought fractional gold.
People complain of the 70%+ premium but then you go ahead and calculate the cost to create the product with the artwork. You will find that premium is quite reasonable. Or let us take a simpler experiment. Buy American Innovation golden dollar coins - the 100 coin bag to save the most on the premium - from the US Mint. The cost per coin is about $1.17 for a dollar coin. Not bad as these will be in uncirculated condition. Now let us say you want to make some money back on your purchase. Well, figure a nice 1.5 hours to go through them all to find the top 2 or 3 for your collection. Then you go through the rest and take out those of the worst quality say 7 - 8. You now have 90 coins. You decide for economy sake to sell them in 2x2 flips. So you search for flips for small dollar coins. Purchase them - probably get 100 for $3. Then estimate shipping - say .85 cents per coin. Well the initial cost of the coin has risen from $1.17 to $1.17+.85 cents shipping+ .03 for a flip= $2.05 per coin. And you have not even factored the FULL amount of time you have put in - say about 3 - 4 hours to go through the coins, order the flips, take photos and organize what you will keep, spend and sell. So let's set your hourly wage at $25/hour and total prep about 3.5/hours. So figure about $90 you should be paid for this ( and this is before you choose a sales platform and finalize a sale from an interested buyer). We have our coin at $2.05, we have 90 coins to sell and you are paying yourself $90 for the prep work you have done. So let's add $1 per coin for labor for a subtotal of coin+production costs+your time= $3.05.
Of course the coin's bullion value is 5 cents but this is just selling a non-precious metal coin that targets collectors of not for circulation coins at potentially modest or low mintages. If you sell on ebay add 10% for potential fess - therefore your coin and costs to sell it = $3.35. You aim to make $1 profit so you have to sell the AI dollar at $4.35 (higher if you choose to encapsulate i)t. This is approximately in line with what ebay sellers offer for the 2018 P AI Dollar - www.ebay.com/itm/2018-P-D-American-Innovation-Dollar-Golden-Signed-Frist-Patent/223768374302?hash=item3419a26c1e:g:wHUAAOSwqctcYb37
So, consider the production costs for the Goldbacks and the technology they use to create it, one which the US Mint is not even using. Think too how much they appreciate the rise in gold --- that is where their profit is primarily coming from because to produce such a note with the technology that allows the gold dust to STAY and employing the latest polymer technology is probably one with high production costs. Plus although these are gaining traction - 200K was mentioned in the video, it is still not at the point that the production costs are so greatly reduced to drop the premium below 70%. But if that were so, the mintage would be quite a bit higher and its potential numismatic value diminished.
So, I would not even consider the premium as this is a specialized product which requires advanced production methods.
I think the best way to look at this is as one commentator alluded - think of its potential numismatic value down the road. I would consider this something like a 21st century Trade dollar or an update on the attempts in the 80's to do a cruder version of a goldback. The things going for it are 1) the quality of the note is very strong and attractive 2) compared to the production rate of US currency it is low 3) it possesses cutting edge technology that uses what has been going on abroad but with an additional twist of adding gold that does not risk shedding off from handling. 4) Other states are interested in using this so there is more room for variety and even potential errors cropping up over time if the goldbacks have legs.
The things going against it are 1) the artwork although beautiful is not original but a reproduction or at least based on 19th century designs making it a little old-fashioned to some 2) gold prices left to free market forces is more volatile than a government set price as was tried for over a hundred years with mixed results but at least avoids the problem of the goldbacks - how do you barter something which someone may not feel is trustworthy as its value may have them at times to hoard the bills when gold skyrockets or reject it for barter when the price drops. Furthermore, history has shown that gold mining operations have shut down when gold has gotten too low --- what will happen with the production of goldbacks? 3) the fact Colorado and Nevada are doing this is a mixed blessing - it shows its popularity BUT it also shows that the potential of getting currency of some rarity may be passing 4) and finally there is some risk of the gold delaminating when exposed to high humidity - especially the $50, that is why sites offer special leather wallets to hold them. Also if a bill gets worn out there is presently no chance of getting it replaced ... this can be a problem in its use for barter and for holding onto it for bullion - I got this info from goldback.com FAQ - goldback.com/the-faqs.
Numismatically and the beauty of the product, I would buy them. But considering the job landscape and the price of volatility of gold this is neither a good product for one stacking or prepping --- there are better products out there.
For now I am on the fence about this product - as something to collect I am more for it.
Metal notes is a pretty cool idea.
I'd never pay that premium or accept them as payment for more then a 30% premium over spot.
So it seems to me they need to really improve their manufacturing efficiency and their margin on these if they want them to be used rather then just collected.
Constitutional silver is a better option for fractional amounts of previous metals for bartering.
yeah I do like my junk silver... lower manufacturing costs would be good for sure but idk if that is possible 🔥🐉
@@SilverDragons47
Most things reduce in production cost with scale. I'm not very familiar with electroplating so I'm not sure either.
teatowel11 it’s actually vacuum deposition... I said it wrong in the video. it’s hard to scale 🔥🐉
I got the free one and that will be the only one I get. The premiums are ridiculous! The only use would be if you are in a place that actually take these as trade. Totally not for stacking.
correct not for stacking but still a cool better money! 🔥🐉
Fascinating. So you said: backed by gold. As in, the value of these bills stays with the value of gold? If so, that would make an insane investment given where the dollar is going
They are "literally" backed with gold. Turn them over and you see the gold captured in filament. It actually creates the picture in the front in negative
I bought 10 of the 1 New Hampshire ones for around 43 bucks. Mainly just wanted to keep for my kids later down the road. Plus they will gain value as long as gold goes up
Wow. I had never heard of these. They’re pretty darn cool. I’ll try and snag some with my next silver buy.
they are very cool for sure! 🔥🐉
Goldbacks are to be used in trade. Used them at our local farmers market and for dinner today. The local spread is in the 4-5% range. Plans are in the works for two more states.
Very pretty. I have a few. Bought the set $1, $5, $10, $25 and $50. I also got some Silver Dragons while they were available. However, the premium makes them cost too much to justify buying any quantity. I'll stick with coins until it's financially feasible . Both gold and silver.
My uncle is the CEO of gold back Jeremy Cordon he told me about his company and I got some of the original designs I knew that his business was successful but I didn’t realize that like they actually were popular
your uncle is awesome, I'm jealous of you!
I have eight of the 1 goldbacks and one 5 goldback. Started back in 2019. Very unique.
very cool! you are way ahead of me! 🔥🐉
Great video! I bought some of the New Hampshire, Nevada, and Utah goldbacks! Also bought some for my father as a random gift! Better to swallow the pain of the large premiums now than not have this excellent currency for bartering when you really need it if (god forbid) all hell breaks loose in the economy somewhere down the line.
This video wasn’t even three minutes in and I was already in the process of buying 100GBs.
I like that these cannot be counterfeit. If we have to barter, fake silver and gold coins could become common since most people won't verify the coins they exchange
Pretty and inventive! I might buy one of each and frame it as a semi-artistic political statement.
Sound Money Arizona out of stock now... 🔥🐉
that would be cool for sure! 🔥🐉
Very well done, SD! Glad to hear you finally getting on board with the goldbacks!🔥🔥🔥🔥🔥🔥
yes i’m a believer now 😁 thanks for watching! 🔥🐉
Would much rather have '64 & before Roosevelt dimes, but that's me.
I LOVE junk silver in my pocket... these would be in the wallet 😂
Me too, I like to collect these though
The goldbacks are neat, but i agree. I personally prefer mercury dimes over fdr's face.
Thank you Silver Dragons for sending me your one of a kind Silver Dragons silver certificate, just beautiful art. Thanks again!
Those are more expensive then the stupid goldbacks lol 😣
Good discussion on buying these as currency rather than as stacking coins.
I just bought a tenner ("Justice"), my first gold purchase ever. I like these because they're within my budget--I can buy one with each paycheck, and not put a hole in my budget. They're easier to store and hide than coins would be. I admit, though, having lost my precious metals cherry, I'm going to be looking at silver coins as well.
Technical nit: These are not gold plated, which is an electrolytic process.They are made by vacuum deposition, in which the gold is vaporized at high heat, then condenses on the polyester substrate, like moisture from your breath forming frost on a window pane. Hot argon atoms press the gold atoms into the substrate to more permanently bond them. [I am not personally familiar with this process; information gleaned here'n'there.]
I like them, my misunderstanding was 1 , 5, 10, 25, 50 meant that is their value in dollars. So the price for the items would be adjusted for them if you use them to purchase something.
I can’t wrap my head around 20 of the 50’s actually weighing a troy ounce. I’d have to see it to believe it
WOOHOO....official UTAHAN here. In 2011 Utah made gold and silver LEGAL TENDER, and what is great is that there is no capital gains tax on Gold and silver minted by the US Gov and the GOLD BACK....
very cool! I wish all states would follow 🔥🐉
UPMA.org is the best place to get them at spot price. You add dollars to your account and can exchange that for goldbacks at the current exchange rate.
As spot price?
@@MrThe1234guy at goldback spot yes
@@TheLaw365 What the heck is "goldback spot"? Spot is spot.
yes alpine gold is the same as UPMA in that you can get them at the current exchange rate 👍🏽🔥🐉
Geezle Puss it’s the current exchange rate which is spot plus premium 🔥🐉
Problem: The US Mint tests their paper currency by crushing it in a metal tube with a hydraulic piston, making a little pellet. Unfold, and repeat. This simulates years of wear and tear on hand-to-hand currency.The main effect is to soften it. It remains perfectly legible.
I've tried this using PVC pipe, a dowel rod, and a hammer. Goldbacks crumple permanently. Worse, shining a light through a creased GB shows that the gold film has torn and cracked within the plastic. It looks like random lace, although no gold is actually lost. It's just that the plastic stretches across the creases, while the film cannot. Also, because the film is reflective, the printing becomes almost unreadable unless you are careful with the lighting. (The ink itself is still intact.)
By accident, I've washed and dried US currency many times in my life with no visible effect. The GBs, even the crushed ones, also survive washing in a normal load (white towels, with hot water, detergent, and bleach, then dried; repeated twice) with no problem beyond some minor creasing; I haven't seen any evidence that water infiltrates the plastic, or that the ink is affected.
In a propane torch, dollar bills burn. GBs melt--the gold, of course, is still there, and the melted portion curls away from the flame.
Mind, I like GBs because I can (and do) buy some with each paycheck, and build up a little easy to hide, and easy to carry wealth. And I'll be carrying a few singles, maybe even a fiver, in my wallet to spend and spread the word.
But I predict they will not become a popular currency until they can be crumpled.
(I wonder if this internal cracking problem can be ameliorated by depositing the gold as halftone dots. That way, cracks won't propagate. Of course, that would make manufacturing more expensive. Ah well. Early days.)
Have I got news for you: Goldbacks have found a place here in New Zealand on our local internet market TradeMe, and currently asking about US$6 for one Goldback. In light of your critique here in this video, I'm seeing an anomoly several thousand miles from those four states. Maybe it's novelty-value as a gift is at play here; for getting kids interested in stacking. The heirs of my stackcollection are 10 and 11 yrs old right now, so at xmas I'll be giving them a Goldback each and see their reaction. I have 8 x One Goldbacks, but I might get a couple of state sets. I hope they do a few more states. The artwork is excellent, and the whole product looks durable, so......................................we shall see.
Best video I've seen on Goldbacks so far. Thanks mate.
I would honestly hang these on my wall as a decorative piece. Would be a conversation starter for sure. 😂😂
I can't get enough of them! My whole family/friends have a keen interest in them! More than coins and bars, which is so wrong! Also, my preppier buddies are all in on these!!
oh they are great for prepping no doubt! 🔥🐉
@Questilquatl Quetzal junk silver all the way
@Questilquatl Quetzal no you can't spend GoldBacks as real money other than at quirky Farners markets. Try spending at Target & see what happens...ha
@Silver Dragons could you please cover "how to check authenticity" of these? They are bragging about "unique technoloigy" it in the FAQ. Still, no size/weight specs like those of regular coins. Anyway, a dedicated "security features of goldbacks" video would be very welcome, I guess.
Alex Dodd , I was the wondering the same thing. I wouldn’t worry about the little guys, but the 50 goldback note would definitely be worth the trouble to fake.
you have to look at the serial number and match it to the serial number on the back. They appear very hard to fake but obviously anything is possible 🔥🐉
@@SilverDragons47 neat. Still, it would be nice to have a video on that matter. The topic deserves it, in my opinion.
Also it would be cool to see some boldback melting/poring action. As far as I remember, you had a few videos like that for some silver coins.
P.S. Thanks for your hard work at delivering insightful content. Highly appreciate.
P.P.S. What I've written above are just a bit of "viewer's feedabk" and a few "ideas for future videos". Of course, you are the one to decide "what to do with your property" ))
Each has a really good story. Each lady stands for some aspect of hope or freedom
Yes a 1 ozt Au is hard to barter with. But that is why their is Ag also. At 70% premium for those, I think Ag is a better option.
yeah you could always have both 🤷🏽♂️ I love my junk silver haha 🔥🐉
I had all of them and I found they was hard to sell one store said no to them and my other guy bought them but at a BIG loss and I had to talk him into buying them. Even from spot. Just buy a gold bar or coin.....
I still find them to be gimmicky. I have one as a cool conversation piece, but I don't see these micro fractions of gold ever doing much unless SHTF.
Probably have better luck with just using silver. After all, silver coins are self-backed. Plus you can dump them on your bed and roll in them. They do look really cool.
@Sound Money Arizona that's a very fair point
i’ll bet in a SHTF scenario they are much easier to barter with 😏🔥🐉
I just found out today, that the next Goldbacks are going to be Wyoming, my home state. Definitely getting them.
I buy Goldbacks cause of the nice artwork & I plan to use as Tips at good sit down restaurants. Great video.
Very interesting idea! Do you take it upon yourself to educate your waiter or waitress so they don't think you tipped them with monopoly money?? Lol
@@b.sharp. no I don't take the time to educate anyone that I Tip with GoldBacks. If they don't want to spend a whopping 10 mins online looking up what a GoldBack is, well not my problem.
@@seapirate65 into the garbage it goes then
Yea..I know I'm wasting good Tip money on Uneducated America's. But think of all the junk we daily throw away.
I'm going to do a Social experiment [ starting jan] I'm going to Tip in my fave Restaurant here in Minot.( a Silver Dollar).should be interesting if any reaction.
With the fed printing money like it's going out of style; I think it's a good idea to have some around.
I bought some KaratPay CashGold plastic currency that each contain a 0.1 gram gold "bar" (more like stamped foil) in a little clear window. My idea when I got them was to use as a hyper-fractional bartering currency. If I had oodles of fiat currency just laying around, I'd consider getting a 5000 GB trading pack or two to establish a currency cooperative in my area; but since I don't, I have instead written a contract for creating a stable fiat currency that bans fractional reserve lending and does not create wealth inequality via the Cantillion effect. In the system I have devised, every signatory issues an amount of the currency based upon their household's productive capacity as certified by the elected board of governors; the unit is the hour, and the currency is intrinsically valued by it being backed by the labor and productive assets of the issuers. I have not fully structured the price-discovery system for determining what a productive asset class is worth, but I think a multi-round silent auction system (matching the highest bid with the lowest ask at a price that is the average between the two until 10% of submissions are paired) would probably do well enough.
Have you studied how Nat. Soc. Germany implemented its labor-backed currency? It looks like you have a good handle on it so far. I think that the money had to first come into existence through huge govt projects like building the Autobahn and public parks which first ended unemployment. I'm not sure of all the ins and outs, but I support your endeavors and would like to be a part of the monetary paradigm shift. All the best!
I haven’t looked into those yet 🔥🐉
@@aedressler I am unaware about their monetary experiment. I have a few silver coins from the third Deutsches Reich, but I was under the impression that they used a gold standard.
OMG! GREAT IDEA👍👏! I just purchased some $1s today. I will DEFINITELY purchase more in the near future☺! Thank you for posting this!👍👏👍👏
This is the answer to a question I have had for years! Goldbucks. You can buy basics or larger items. Amazing. I HOPE THIS TAKES OFF. HOW ABOUT SILVER BUCKS FOR DAY TO DAY ITEMS. Great ideas, hope you are very successful!
These things are true works of art. Very gorgeous.
I guess they're kinda like proof coins maybe. You could technically spend them but nobody will.
I got my first one yesterday!!!!! It was the only one in the coin show!
Thanks for sharing, I've never heard of these before. I like the concept, no doubt, my very first concern was the durability, they didn't look too durable, but they're obviously coated with something. To be honest, these open up more questions for me than anything, I mean, if no one accepts these as currency because most people don't know what it is, it may just be a waste of money (and gold) and relegated to just being a novelty item you can frame on the wall. But the idea is pretty clever, just bake in the precious metal into the actual currency 😆 that pretty sick. I'm sure whoever created these is on the Federal Reserve's watch list.
@Sound Money Arizona TY! I'll check it out.
@Sound Money Arizona I rewatched the video, I just noticed it says "gold coin" at the bottom 😆😆😆 I guess article 1, section 10 never does specify that the coinage has to be neither round, nor that it can't be flat, it never specifies the thickness, I see what they did there. 😉 So "technically" it's legal, would be great if these were made for a consortium of states that are like close together, like for example "west coast" goldbacks could be used in member states like WA, OR, CA, NV, etc., the "New England" goldbacks could be accepted in NH, VT, ME, MA, RI, NY, etc. There's no way a business here in Jersey will accept those. At least not to my knowledge, but definitely a conversation stater for sure. I might order one of each denomination, I'll read more about them later. I'll tell you one thing, I'd trust these more than any crypto currency any day 😆.
i’m glad I could share them with you! they are extremely durable and I like that they contain gold 😁 they are accepted anywhere that will take them for barter. 🔥🐉
Took some 1 dollar gold backs to the strip club and when they asked what I was doing I started to tell them about how our currency isn’t backed by anything and these are better cause they’re are backed by the gold they’re printed on... they kicked me out.
🤣😂🤣😂
Very cool! I'm pretty new to stacking and I've never heard of these. Thanks for the heads up! Will be looking into these more!
thanks for watching my friend! 🔥🐉
I still don't quite understand the concept. When you go to buy something, are they supposed to be worth the 1 dollar face value, the 1.84 melt value, or the 3-5 dollars you paid for it.?
It is not 1 Dollar, it's 1 Goldback.
@@kko9498 That doesn't answer the question. The question is; What's the current purchasing power of a Goldback? The best way to answer that , so that it's understandable, would be to relate it to the current purchasing power of our fiat currency.
It's worth the spot price of gold, plus the manufacturing premium. It says the current exchange rate on Goldback's website.
@@strange-universe thanks for the info. While I like the idea of gold backed currency, I can't see this catching on widespread. Merchants would have to look up the value each time and then figure out how many were needed for each transaction. Many tellers have trouble giving correct change using a cash register. Lol
it is supposed to be bartered with at the current exchange rate 👍🏽🔥🐉
I misunderstood like you did Silver Dragons & thought the same thing. Now knowing their intended use I may buy some. These would make great gifts for anyone.
yep I completely had it wrong! they would make awesome gifts! 🔥🐉
Hello, how I can buy goldback to Europe? exactly to Slovakia? because it´s all just for US, thank you
I'm shy and not a talker or persuader. I live in Alabama; no GB's here yet. And so, I don't know what I'd do with them, as beautiful as they are and as much as I'm a believer in sound money. I currently buy a few ounces of silver every month; that's all I can do.
To only reason to buy them at a %70 premium is to hold on to them until their value goes up above the premium BEFORE using them as a currency. Otherwise it's like burning money for the sake of seeing gold.
i've always seen these and wondered what it was all about. Thank you for the great explanation and super rad!!! just grabbed some myself from apmex : )
awesome! i’m glad I could explain them well. 👍🏽🔥🐉
I just brought a set .. I can’t wait to see this should be good for beginners looking to invest in gold currency
The 50 denomination Goldback is intense. You can really feel the gold weight, I can't wait for the Nevada series. I live closer to Nevada and actually go there, unlike Utah.
I can’t wait either!!! I pretty much live in both states so I gotta have both series, have Utah for now 😅
yes it’s heavy for sure! I cant wait for the Nevada! 🔥🐉
A whole 1.5 grams ooooh sooo heavy lol
I like the historic throwback art found on these. so much better than todays gumby dollars. if I was spending them I would feel as if what I had was value.
I think their kewl, but at the cost of premium, more interested only for collecting. Some are more desired than others so some money to be made if you get the right years for trading like a baseball card or collectible coin.
It is a really good idea when you consider bulk.
You get a deal with you buy in quantity.
When you buy individually, the price goes up - 1 g of silver = alot vs 1 oz -Id sell at .05g at a time if I could.
yeah always better to buy in bulk 👍🏽🔥🐉
This is a great idea and I think it can be used to drive enthusiasm for non-fiat money
As a collector item, sorta yes - would help if design changed periodically. As a medium of exchange, not sure -learning towards no since they look fragile. As a substitute for bullion, hell no!
they are actually very durable... maybe i’ll do a video just on that! 🔥🐉
> would help if design changed periodically
Actually no, you probably wouldn't want to change the design at all in anything less than a 10-year period. These cost quite a bit to make and you would be increasing the chances of forgery. Plus the makers need to recoup their investment costs. You could kickstart a new design for your state however. Info on their website.
@@kingneutron1 Yeah, I agree. After thinking about it I actually bought some.
I think that your description and short expose' on goldbacks is spot on. Especially in these uncertain times, there will be a further surge in the purchase of this currency. I will not be surprised if more states jump on the band wagon. Wouldn't it be something if nearly 1/4 to 1/3 of states actually have or will allow goldback currency over the next few years? I have been accumulating some of this from month to month because at some point probably with in the next 20 years it is estimated that the USD will no longer be the world's reserve currency. When that time comes the goldbacks will hold their value and then some. If and when the financial infrastructure built on the USD implodes having traditional gold in 1/10 to 1 tOz amounts will not be practical unless you are making large trades. I have explained the production premium to many people, because people often want to look at a goldback as a traditional medium for stacking and it is not intended for that as you astutely pointed out. The $1.10 plus 10% of spot premium for making each note is really a good deal given the level of security and technology that goes into making them. And there is nowhere on the market one could find a reliable hyperfractional product that is anywhere comparable. In fact the 1 Goldback note is manufactured at a loss. The production premium is not lost when they are used to purchase a good or even exchange back for USD. It is only the value of the gold that floats according to spot. The only ways you would lose out totally is if the price of gold went to zero or dropped precipitously and never recovered (unlikely) or you destroyed the note and melted it down for the actual gold, which would defeat the purpose of the note.
These gold backs are really useful for a SHTF scenario. If the electricity and internet goes down Bitcoin becomes worthless. You won't be able to access your bank accts. The ideal scenario is to keep a certain amount of goldbacks at home in a safe for just in case.
The other question I have is how will others trust it’s integrity in a bartering situation? Most people will say: what is this? Great video.
I got a free gold back today and I LOVE it!!! (I had to earn it but it was worth it)
These are increasingly becoming more popular
Imagine when the dollar is fully trashed, these will be much more valuable. The value of Money is what a person is willing to pay
At 70% premium, I think I will pass. I did get the 1 free they were doing for a while.
at least you got one! the premium is added to the gold spot price to create the exchange rate 🔥🐉
Silver Dragons the rough part is you lose that rate when you go to sell them.
Really that isn't unreasonable. For such low denominations manufacture is a large relative cost. If you can buy 1oz coins though obviously that's a better deal. These make gold easily acquirable by basically anyone.
the premium is a lower percentage as gold prices rise because the manufacture (minting) cost is flat even as gold rises in value. for actual currency the premium is actually very low, and I've never traded or sold a Goldback for less than I purchased it for. If anything the high demand and beautiful craftsmanship means that in many instances you can sell them for significantly more than the exchange rate.
I get some similar bits of gold when I need to top up an order for free shipping. Over the years now I have A LOT of them. Not sure how many but there are a lot.
yeah those small add ons are very fun for sure! it does add up!!! 👍🏽🔥🐉
@@SilverDragons47 After this I counted mine and I have 60 now over 4 + years
i cant believe i am stacking gold and silver. i used to call you people the crazies. now i am a crazy
Beware, if you live in a state that does not charge sales tax on PM's, you will be charged sales tax on these. Don't know why. Other than that, they are pretty cool. I would rather have silver dimes. They are going to become more popular.
Saw them online, came to TH-cam. First video was yours. I'm like..."Well if Silver Dragon has some I might as well grab a few too". 😂 Thanks!
Ron Swanson would love these
I think I get the overall purpose of these, but I surely don't think if you try these at a retailer, they're going to accept them as currency. I think this is more as you suggest, using them off-market like bartering. My wife is interested in these. Maybe this particular set is only acceptable in Utah as currency at retailers?
I just needed one, for RaeRay's Cigar Box. I went on ebay and bought a Nevada 5 Goldback from Metals Exchange ebay site for $24.
And we all know, what goes in Rae;s Cigar Box, stays in Rae's Cigar Box. Premium cost 140% plus free shipping. Currant exchange rate $19.40
I wouldn’t mind picking some up.
I like to frame cool currency’s and demonetized bills.
They look nice hanging on the wall:
I want to pick some up for sure.
Nice collection.
yes they are great for collecting for sure! 👍🏽🔥🐉
i live in canada it would be nice to see them prodced here, i may pick up a few, definitely good for giving change and small purchases
I picked up a 20 pack of 1's last week. I just ordered a few of the 25 notes. Going to order some 5's and 10's this Friday.
that is awesome! lastly you will have to get a 50 to finish off the series! 🔥🐉
@@SilverDragons47 we plan on buying a few $50 notes 😊
Yes you should buy them. It is a great way to buy gold that is actually affordable.
I live in Georgia and I dont think any place accepts these but I am still going to buy them incase I travel to Utah, Nevada, or New Hampshire. Also because they look amazing. Also I live in Georgia the state not the country
I just want them on my wall. You are not kidding about the 70% over almost $5 for a $1 note.
ya know tbh... I wouldnt say theyre not good for a savings or investment... if the economy bombs, these will likely become far more barterable... if the economy stays afloat, these could potentially become a collectors item if say, they DONT catch on... then there will only be so many in circulation, bringing the value of them up. so... while I wouldnt exclusively save in this kind of gold, I might be inclined to collect anyways, if at the very least because theyre cool.
Great intro into goldbacks as I’m new to this
🐑🐑🐑
For all the people here that say, not for them, what if your state mass produce them and exchanged with no premium, and stores started using (pos)point of sales machines that link to changing spot prices data to receive change, something like that, I'm sure there probably a way to make it so you can hold it and it still evolves with the technology
that would be a crazy twist
of events but anything is possible! 🔥🐉