The TRUTH About Goldbacks
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- เผยแพร่เมื่อ 28 ก.ย. 2024
- I've created numerous videos covering the goldbacks but this one dives into it's usage, better and cheaper alternatives, who is responsible for pushing these onto unsuspecting buyers and we look to see if goldbacks solve any problems.
I stack gold and silver to hedge against our debt-fueled, fiat currency-based economy that I am convinced is in severe trouble. Consider stacking silver and gold yourself to help you build and preserve wealth. And thank you for watching Campbell’s Coins!
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Topics Discussed: goldbacks, don't buy goldbacks, the truth about goldbacks, fractional silver, fractional gold, best fractional gold, the ugly truth, goldbacks aren't great, goldback currency, american gold eagle,1 gram gold, tenth oz gold, goldback alternatives, worst gold to buy, best gold to buy, best gold, the truth about, gold stacking for beginners, quarter oz gold, gold coins, gold bars, gold stacking, must watch, goldback premiums, goldback, gold back
Oh I'm a goof. The premium isn't 53%, it's more like 110%. No other gold product has a premium of 110%. Sorry for the gaffe folks.
I'm with you. Paying $100 for $50 isn't my idea of sticking it to the government.
My change is back in normal currency, btw. Not the gold I paid too much for.
120% on 6/5/24
Its insane. Yet i stacked up on them. I think its the art, the backability, and they have serial numbers. Pretty inexpensive. But yes gold amount is insanely low lmao
I never purchased any dimes or quarters in gold or silver because of the premiums but justified the premiums on GoldBacks.. I believe gold will continue to double over time so having 1/1000 oz tradable gold notes seems smart to me.
Correct
Good for you. Meanwhile we will but 1 oz gold grams for 15 to 20 percent premium vs the 150% premium for goldbacks . Not good boss.
I would remind you and all that even though the premiums are steep on GB's there is one good reason for buying and useage.They are fully recognizable.There are a lot of forms of gold coins and varying composition.Its hard to know them all and testing the authenticity can be damaging or even destructive.Goldbacks are easy to recognize and somewhat easier to carry.I will say you must keep them in pristine condition for top value exchange.Thanks.
The U.S. dollar is accepted everywhere on the planet. You'd be lucky if even one in 1,000 people in the general public in this country alone would take a goldback for anything.
People don't recognize gold and silver coins but they are going to recognize a goldback? A product from a company not five years old and hardly accepted by a few states? Do you work for Goldback?
Exactly.
My point is that GB's can be traded easier than gold coins,bars or jewelry.They are very recognizable and are not made of paper.Im a long time stacker of Prescious metals.These GB's will have a purpose for everyday transactions when there's no electricity or internet connection.Thats my points.
@@kenofken9458 Well I'm not sure about that, they are what they say they are. If you wanted to bum a cigarette or a stick of Gum I would take your goldback :)
Don't forget to mention that you can buy them for 8.4% less than the exchange rate too.
I cover that in the video. Make sure you watch videos in their entirety. That 8.4% less is still 20% more than everything else. Don't forget to mention that tiny fact!
@CampbellsCoins Goldbacks have been verified to have gold content therefore that gives them importance and value. While the premiums are a little high. I do think that as things continue to get worse in the economy. These goldbacks will continue to become more important. Plus they have expenses to pay, employees, equipment ect. Can't sell these things for melt value only.
I bought a few goldbacks and even a silverback because I thought they were beautiful. Especially the silverback. I was actually offended by the silverback price because even as a collectible with basically no metal value, I thought 10 bucks was a little high, but I thought of it like a foil trading card, and 10 bucks for those isn't crazy, and there's a good chance it will go down in value, so it's really only for decoration and if it goes up in value, cool.
As far as the goldbacks, I bought 1 of the 1/1000 from each state, again, mostly because it's pretty cool looking and the fact you could tip someone with it is a conversation starter.
If anyone is putting a bunch of money into it as an investment, well, I'd say you're a little crazy.
If you're investing millions, then spending a few grand on them isn't a huge risk, I guess. As a tiny percent of your money as a flier, I guess, but you'd be better served putting that in crypto that has a much higher ceiling.
I dunno, I think it's a cool idea, I can see them catching on if they had been a better value. I don't know the cost, but 100% premium? It just doesn't make sense.
People buy what they like. Have you checked out the businesses that accept goldbacks in each state? Yes, we are listening to your opinion. Have a good day.
Of course, however, there are a lot of newbies who see larger channels as voices of wisdom in the stacking community and make their purchases off those videos. Buy whatever you want but many newbies don't know the numerous drawbacks, especially if one doesn't live in a state where these are established. Yes, I've seen the businesses in the states who accept them. Have a good one too.
Imagine how much more gold you would have if you'd just swapped all your gold into goldbacks when you first heard of them instead of criticizing... a rising goldback premium is bullish not bearish. Don't fight the trend.
I'm buying as many goldbacks as I can in spite of your opinions
Good! The hardest lessons are learned through experience.
@@CampbellsCoins👎👎👎
Oh well...at least your can't say you were not warned.
@@CampbellsCoins yep.
Same here. I hope I lose a lot of money buying goldbacks. You, um, "PEOPLE" who bash goldbacks. Bring me your food and silver coins. I will give you a 24 pack of TP, a case of water, and a bucket of oatmeal. NOW SUCK ME OFF!!
Optimally within the next 10 years Aurum gets a third goldback factory up and running and starts also selling direct. They have got to get the premiums down to 25%. At that point it's pretty fair imo.
Agreed, 25% premium would be great . Until then , stay away.
I bought a couple for their collectable value. Gotta admit they look really cool 😊.
Just wait for Copperbacks to hit the scene!
Better than Nickelbacks!
@@jasonhartmann3557 Nickelback ruins everything!
@@UnboxerofWorlds Agreed!
HAHAHA! What's 1/1000 of two cents? I just need 250,000 to get a cup of coffee. Might need to get a pickup truck
😂
Good video. I agree stacking Goldbacks isn’t a good idea but I own one each of the five state series and the North American Wildlife and North American Gamefish Aurum series sets, plus some other Aurum. If we believe in sound money, why wouldn’t we support Aurum in general and Goldbacks (which are Aurum) in particular? Goldbacks are gold, which makes them sound money. And they make great gifts.🎁😃
Hey! starter with 2 measly silver oz , but i was eying the goldbacks at the shop.. thanks for the video
No problem 👍
Glad you didn't fall for that scam
Although I think most of these are nitpicks and lack understanding of certain topics. I do appreciate this video and your information on this issue.
🤨 I saw that video too 👍.
Appreciate the backhanded comment and no examples of this lack of understanding. 🍻
@@CampbellsCoins It wasn't a backhanded compliment. I meant it, I do appreciate the criticisms and information, I just didn't see all of it as important. It does suck they don't believe in their product and probably in the end will end up being a scam like you said. But I don't see the goldbacks value in the same way I suppose.
I admit lack of understanding was probably a poor choice of words. I apologize for coming off as rude.
@@CampbellsCoins I saw an interview with the guy who originated the Goldback....And the only thing that popped into my mind was the word "Huckster" 😳!!! This guy was just out to make a quick buck off the Gold Stacking Community and was desperately trying to rationalize the use and spread of his fancy Gold foil artwork and tickled pink people were buying his load of bullshit. 🙄.
The next hottest thing since Pet Rocks (Only more expensive) 🫤!!! I resolved right there and then I wouldn't contribute one single dime (Directly or indirectly) to this Carpetbagger 😠😡!!!!
The dude who invented these is a bloody genius in a business school sense of the word.
Think about it. He found a way to sell gold at 2X spot AND to make buyers think they are getting a rare bargain while doing it.
That's some powerful magic!
I'm with you on this issue. I have a few as collector's novelties but I'm not stacking them. The premium is far too high.
Compare goldback to any 1/1000 oz gold product for price and security = nothing is better
The facts say 90 percent of gold is available for use, yet 80 percent of silver is in the industry, only will increase with solar panel output.
50% of silver is used for industrial end uses.
I am buying stacks of Goldbacks.
I am so new to gold I might as well be a baby, I live in Utah and just became aware of goldbacks. I make a lot less than most, if I’m trying to buy gold, where specifically is a better place to do it? Especially when I don’t have a lot of money?
Thank you
Buying any other kind of gold product is better. You're effectively paying $4,000 an ounce for gold with goldbacks when the spot value of gold is around half of that.
You're better off saving up until you can afford a gold ounce or at least a half ounce.
Stay with GOLDBACKS! I was always hesitant to buy gold or silver because of the common sense of transactions to buy simple necessities with a chunk of precious metals. IMAGINE this... where's my change sir, then he gives you a cut of his SO CALLED precious metal 😒 🤔. Hey let's check it with our XRF machine..oh wait we don't have one or it's down right now or "just trust me". Common sense gets you a long way!!
Apmex, fractional gold in 1/10th oz and gram bars. 1/10th 1/4 coins also. To own just 1 gram of pure gold, you will be ahead of 99% of Americans. It's that bad. Welcome to the community.
Go buy $50 for $100, and when you spend it, your change is standard currency.
Hmmmmm.
I have a few of these. However if they can cut the premium by 50% they will be line.
But with gold spot at a record high, won't my Goldbacks be worth more? Ha! Thanks for the video.
Goldback were created for small purchases, no one would accept it unless they know what it is.
You will probably get the lowest price for them if you go to gold exchange services
I spend Goldbacks pretty regularly. I can find value in them, others can't. The nature of life.
@@danielbbq im glad that people exchange it, im not hating on the idea. I wanted it to work more than anything.
@@Junky4me-zq9bu I've done/had 94+ GB transactions this year. I've proved that it can work. People want to spend PMs but it's very hard to do. Over the last 30years I've only done 4 trades in gold/silver and one of those was silver for my GBs.
You're angering the bots Rob! 😅
The smaller the size. The higher the premium
I've seen silver backs now.
Youre paying more than the gold is worth in weight. When you spend it, you lost that extra money you paid by receiving typical currency for change.
I see no benefit besides collecting them.
Agree 100% Good video.
Finally!!! Someone speaking the truth about these. The only useful gold back video was when they recovered the gold, which they confirmed the gold amount is correct, but that's about where the usefulness ended.
🙏
I'm going to use a beautiful silver coin! Same sound money but I get more of it because I didn't waste my fiat on overpriced foil.
I think the concept is brilliant but the functionality won't match up.
Sure, "they can't be copied" YET! We live in a world where everything can be cloned. If we go back to bartering in silver and gold it will be fractionals, much to the disapproval of you big guys.
Goldbacks are the future of money. You have no idea about utility,
Who is the TH-camr promoting these things?
Many do. Quick search within TH-cam should turn up plenty of results. If they have a pile of goldbacks with various denominations in the video or thumbnail, they were paid.
Don't listen to the hate. Some people are very attached to their beliefs. From the comments, it sounds like you've called their mama fat 😂
Beliefs trump logic for most people. Convincing people that premiums are higher on the goldbacks than almost anything else won't work even if easily proven.
Goldbacks are overpriced trash!!
100%
Goldbacks are evidence that some folks are just happy eating from the dumpster.
Lol jesus 😂
When compared to people with no dumpster and nothing to eat they don't seem so savage do they?
It's still not something to aspire to.
Yes they are new. It’s about going back to a currency that actually has intrinsic value and one that’s not susceptible to the whims of the soulless “leaders” in DC
If it's truly about going back to a "currency" that has intrinsic value; why not gold and silver coin?
@@CampbellsCoins I simply can’t use gold or silver coin in the same way. There is a big difference between stackable gold and usable gold and that’s were these differ from rounds and coins.
@@ryane.7894 Yes you could. If there were a program to accept (insert fractional gold coin) among stores in (insert group of "free" states) for ordinary goods, they could accept your coin, and tend you change over the price you paid them in fractional gold at spot, back to you, either in USD or in other fractional gold or silver. All the Goldback is, is barter, and it's a bad deal. The price variation lends to money changing schemes. The premiums are predatory. We'd be better served promoting barter in ordinary silver, but no one can make money off that. The people making the Goldbacks are making money off of them. Fiat money is not worthless enough yet for this idea to work and the proof is in the pudding: Goldbacks are made and sold for USD. The company that makes them only makes them because they make USD off of them! Wake up.
Well one critique to your argument -- try using your bullion coins to purchase goods at other than the face value given on the coin or if none, if the vendor will even accept them. Guess what happens, most refuse because they are NOT in the metal refinery/bullion business OR if there is a face value given on it they will accept it for THAT value. This is why one can get from boxes of coins a silver one once in a very great while (and usually you have to spend at least $500 to get even a few 40%) at their face value. DO you think a vendor at the supermarket is going to go through the trouble of checking the silver melt value of all that constitutional you bring in? NO. So the illiquidity issues faced by Goldbacks is also faced with constitutional silver except that it is easier to use the latter as long as it is at face value (so there goes all that silver value you stacked for).
But I agree Goldbacks except for those from the very first year in certain denominations are hard to move outside a small group of vendors in Western US (and maybe a few spots in New Hampshire). Coin and bullion shops prefer not to have too many of them though they will buy them but likely at a loss. Again, the only ones with some numismatic worth are the $50 Goldbacks issued in 2019 which weren't that much and have made them somewhat scarce. Production of all Goldbacks has risen to the millions but far less than the paper currency issued by the US. So Goldbacks are best as a collectible that you buy in very modest amounts - even if you love them. I finally got around to getting a $1, 5 and $10 and will only get a $20 and $50 to have all denominations. Maybe if they continue produce them and I see a bill with some attractive artwork I might get one or two but to emphasize --- these are a interesting collectible for their response to recent instability in the US and world as well as evidence of the growing interest in precious metals and our very mild dissatisfaction with our present monetary system.
For those who love them for the artwork and their historical/cultural meaning go ahead and enjoy them as long as you know the premiums are high (but heck think about the US Mint premium on a half-dollar clad commemorative coin - $35 for a coin which has a base metal worth about 5 - 10 cents, or better the reverse proof Peace and Morgans issued in 2023 - you are paying over 300% premium are nearly as illiquid as Goldbacks with a similar return on investment). For those who collect them just realize you are collecting something akin to modern US Commemorative coins - fun to get and there are some scarcities out there and even a few with potential to develop a nice numismatic premium but the vast majority will likely take decades for them to gain any appreciable premium (and in the case of some gold commemoratives will never rise above gold spot price). If you realize this and you budget wisely then go ahead and have fun --- even stackers try to get bullion coins with cool designs and historical interest/references out of sheer pleasure rther than sole investment (if that were the case then you would be best putting all that money into IRAs, stocks, bonds, business investments).
We bought a couple $5 gold backs for our kids a little over a year ago just for funsies they were 20 bucks a piece and they are worth 21 bucks now so says Google. Correct me if I'm wrong thats 5 percent increase in value. if we can find someone to give us 21 bucks a piece that is. They're pretty cool looking though just to collect.
In a few years, you might get your money back. 😂
I really like your videos, and i mean that, but still think you are wrong on this one. Sure gold and silver coins could be used as currency no doubt, however, the point of the goldback i think is lost on you. In my opinion, Goldbacks are not only valuable, but useful. Goldback guarantees the gold value and if it is damaged they will replace it. Which is saying something cause it's a pretty durable currency. Fractional gold coins/bars are awesome to stack but difficult to barter with. Goldbacks fulfill that purpose, plus i don't know if they can really be counterfeited easily which is a plus. Security, replacability, fungibility, and tangibility is why there is a premium i think. Just my opinion though, wish you the best
Goldbacks are spendable.,,,,for example If you have a 1 oz gold bar worth over $2000 dollars you cant buy milk and bread with it ,,,the bar would have to be cut in small pieces and smaller pieces of gold and silver would have to be weighed and authenticated in a store Buying items would be very difficult,,with pieces of gold and silver
Not when to obtain them I immediately loss half my money.
@@GimbleOnDew How do you nfigure that ?,,,the price of Goldback are standardized .What you buy one for is what you can sell it for ,,and they are going up with the price of Gold
@@GimbleOnDewYou don't lose half your money because the average trade value is Usually higher than what you paid for them
Thats what silver and copper are for.
People didn't really use gold dabble eagles to by milk with when they were actually money.
My aunt told me she was over 10 years old before she ever saw a gold coin.
At that time her dad made 0.25 a day as a logger. Gold was not used daily when you didn't make one in a month
So the issue starts with you call Stackers (or horders as I like to call them). I am a person looking for an alternative currency to the US dollar. If you want to hord gold and silver for the coming Zombie War go ahead. I use goldbacks in NY, Texas, and NJ to buy lunch, diner, coffee, haircuts and groceries. I also sell my goldbacks for a profit, because alot of people who see the utilization versus putting coins that are not usable to buy a cup of coffee.
So, the issue is you make false assumptions about people. Did I say I was hoarding gold and silver for a zombie war? Nope. Don't lump me in with stackers who don't know what they are talking about, or some crazy reason the fringe stackers use. You can use gold and silver just as easily as goldbacks and you're not paying a hefty 100% premium. Simple as that. Make arguments against the points I use, not someone else's psycho claims.
@@CampbellsCoins No you cant use gold and silver as easily as goldbacks. That is a flat out lie!
@@kdnofyudbn5918 Not every store accepts goldbacks, even in states where these are prevalent. This means, some people understand gold and some don't. Would you agree? Those who accept goldbacks are of the free money mindset already and they understand gold to some level. They were taught about the conversion and usage of goldbacks. That wasn't inherent knowledge. If they can be taught goldbacks, the understanding of gold and silver coins is the same learning curve. Don't believe me? Take your goldbacks to a store which does not take them. See how easily they will spend at that location. Gold spends easily with all who understand it, no matter the form.
@@CampbellsCoins I used them in NYC, Texas, and New Jersey. Every time I have to explain what goldbacks were and one I would tell them so you want US cash or Gold? They always took the Goldback!
@@kdnofyudbn5918Those same individuals would take gold and silver coins because they are of that mindset. (Insert exclamation points lol)
I buy them for the artwork and to give out as tips, I think they are cool but not the best for long term stacking.
Ditto
Get the highest denomination gold back. Then go to one of the retailers in the states that use them. Buy something small that requires the retailers to make change?
You either will be at the premium or find out .
EXACTLY. Everyone is overlooking change. You lose you extra $ you paid to have an alternative.
Finally, someone who said what all us non-delusional stackers have been thinking. Respect.
In the future Gold would be the most valuable commodity and thing on the earth
What you would say to someone who has Goldback when that time reach that they made a bad investment or they are better off than most people ? That is the real question because winning at the end is all that matters
Why not get more gold now then??? You can get a lot more gold buying literally anything else; then in your hypothetical when gold is the most valuable commodity, you can be winning a lot more.
@@CampbellsCoins Tbh I don't think there is anyone outthere investing everything and stacking Goldback alone..I brought some but I'm also buying silver too, 95% of people are using the Goldback when they buy them Goldback is for the poor that want gold,not everyone could afford to buy even one gram gold but I do believe everyone do have at least $4 to spend on themselves
@@CampbellsCoins Most people can't afford a $ 300 , $600 $1000 or $2,4000 purchases of Gold. Mostly anyone can afford a 1 5 or 10 Goldback purchase. Your perspective only applies to the super Rich who can make thousands of dollar gold purchases on a regular basis.
Remember your words in 5 or 10 years friend... "Pride can be a real bitch" will not have the same connotation when Goldbacks continue to explode in popularity as they have been.
Ohhhh, I'll remember 😂. Many fads were once popular, they go away when people realize the truth.
Yup. Goldbacks will hold their worth for as long as gold has value. I prefer silver but joker will be eating his words
Why are they no longer listed on the Valaurum website?
@@GimbleOnDew Valaurum does not retail the goldback, rather they are the private mint that manufacturers them. Goldback Inc is also itself only a wholesaler. To purchase Goldbacks you need to find a retailer. There is a list of featured businesses on Goldback's website, but it is not all inclusive.
Nah, Goldbacks are a scam.😊
I'm confused, I buy a goldback for $4, then turn around and buy $4 worth of goods with it... where was I scammed again?
With a conventional coin I'm losing most of the premium on the back end. Curious if you're that strict on those or if you're applying a double standard?
Watch the video a few times, it might become clearer to you. I'll give you part of an answer to your first question; you paid more for gold than you should have. What back end? If I buy a $200 gold coin and turn around and buy $200 worth of goods, where is the premium loss?
@@CampbellsCoins there is none. that's the point. but you won't get that kind of spread on a conventional coin.
@@NayokeHenji huh?! Have you tried? Because I have and there wasn't a spread.
Correct. A goldback value is a goldback value. It's gold
@@CampbellsCoins Nayoke makes a very good point. BTW, insulting your viewers/commenters when they make a legit comment might not be the best way to grow your channel.
If people are afraid of premiums than maybe go back to collecting beanie-babies. Sure, the GBs have a high premium. Utility has value. Functionality has value. Its still gold. And someone had to manufacture them. However, I will agree with the statement about the bad actors pumping GBs. I buy GBs because I found them on my own. Not from some faceless coin geeks on the interzones. I thank you for bringing forth the evils of people. However, in all its forms, gold and silver are still gold and silver. Dont fear premiums. Being a beta is weak. ✌ ❤
So what I’m hearing you say is that you don’t like Goldbacks 🤣🤷♂️😳
Am I that obvious???😅
@@CampbellsCoins Naaaaw not at all 😳
Many dealers will buy back the GBs at way higher than spot price for gold, Alpine gold actually buy these back for a 5% spread of their selling price and they also have a program where you can lend them GBs for an annual interest rate between 2% AND 4,5% depending on how much you are lending them... just like a bank would do... times are changing my friend, bullion is for stacking, GBs are there to replace fiat, give an edge on inflation to people who hold them.
you mean 5% loss like any other bullion dealer... basically $100 per Oz and not 4.5% its 3,5% at best and you need to invest in the hundred -K and above rage to get that ..
Lighten up, Francis. Are they the way to stack gold? Obviously not. But a gold "coin" worth $5 (the current exchange rate for GBs) would be vanishingly small, if one existed. Gold is not silver; they are two different metals with very different market characteristics. As you accurately state, the premium always goes up, the smaller the amount. They are no panacea against unbacked fiat currency, but they are interesting. They are also beautiful, they raise public awareness, and they are fun. They are recognized as currency in their respective states, and widely recognized for what they are everywhere. Yes, they are somewhat of a novelty, but I think they serve a valuable purpose. I don't recommend stacking them as a store of wealth; I think that would be foolish. But it's fun to have a few to play with, and I have about 15 that I got for free! (They have increased by about 25%..)
Dude you are steeped in your industries propaganda. Everyone has premiums, unless you are mining you won’t get spot. Second, GBs are great for trade purposes for small transactions. A gram of gold wont get you a fair trafe, I’ve tried many times. Know one is taking silver rounds. I have businesses taking my Goldbacks. You can also cash in GBs and buy Silver if yoy want to do so. No one on the Goldback side is invest all your money in Goldbacks, but you shouldnt do that with Gold or Silver.
Frankly investing in a solid collectsble coin is a better long term investment then you nut cases pushing stacking as an investment.
Is against goldbacks as he owns a gold back... this dude sounds like a fed.
I get the negatives you dish out about GBs, but you reject the positives and utility about them.
Fyi: Long time holder of precious/industrial metals.
Excellent video. Thanks for being brave enough to warn others about the goldbacks.
🙏
The goldbacks I purchased in 2020 some the value has doubled...
People need to take this warning,I fear a lot of people will get hurt-It''s a big con and we should out all the dealers pushing them hard..
Goldbacks serve one purpose for me; to give them away with my sticker packs. I love that you stood your ground and didn’t support them to make a quick few bucks. You’re a man of honor and integrity.
People triggered by Campbells Coins first Goldback video…. Campbells Coins be like, “HOLD MY BEER B!TCHES!” Great video bro.
Oh man, the Goldback CEO reached out to his bots and they are in full force here. If one is so confident about themselves or something they buy/use/create, they wouldn't feel the need to defend it so vigorously. BTW, I will forever love that "woman" screaming clip. Did you know that's Newsom's ex wife? He was on something strong mindbending shit when he was with her. Yeesh.
Dude, these serve some niche roles and you utilize them in one of those ways. I still have the ones you generously sent me. Oh well, people either get it or they don't. Appreciate you bro.
What sticker packs you got? 👀
The only credit that I can give the Goldback team is imagine how many worthless gimmick gold backed crypto token systems have come and gone.
So a worthless gimmick gold backed gold system actually has some staying power.
Tell that to the pet rock! My pet rock is gold in color and has friends.
Hey Campbell great information learned a lot just seen a big TH-cam channel advertising these goldbacks what would you buy right now? $5000 to invest? it sounds like you'd buy silver rounds and some gold rounds small domination? what's your take on crypto Bitcoin xrp etc? Thanks again I will watch more of your videos 👍🙏✝️🇺🇸🏄
A gimmick? Over a million people own Goldbacks now. About $100,000,000 worth of them have been sold, and you can drive to over a 1,000 businesses that take payments in Goldbacks. I live in Utah, and I literally know people that stopped using dollars on most of their transactions. I like your channel, but you're dead wrong on this one.
Agreed. I like CC but he is off beat on this.
Some people see opportunities when they exist, and some people stick to tradition and the opportunities blow right past them..
You think that most Americans live in Utah? What about 90% of states that will not accept goldbacks?
@@chrisadams3384again it's gold they are universally tradeable everywhere if accepted as far as legal tender they are in 5 states and moving to more shortly. Give it time but you should have some on hand.
Pet rocks were once popular too. Popular doesn't mean it's not a gimmick. I really appreciate your viewpoint and understand where you're coming from. I'm curious to your thoughts on my upcoming video on a return to a gold standard, if you're still watching me by that point haha. Have a good one.
I really believe in these. I made a video about these as Mostax (deleted now). I need to do another one. If you can get them for the right price, I think they have a place for sure.
Update. As I continue to listen to this video. I see we disagree a little bit. To me they are a luxury item. Not a good place to start but perhaps a good place to finish. And they don't serve the "stacking" purpose. I do think that they are a good thing for the movement. And while I know you are trying to protect people I think from making a mistake, the other side of the "coin" is that these are currently the only people trying to actually make somthing happen (and make money on the way of course), I'm glad they are trying. Great vid.
Another comment for nobody to read: Using distributors is common. Selling direct is a lot of extra work and not a good idea for startups that dont have the experience. Also you mention that they don't buy them back. Some websites do for 5% below the goldback price. There are plenty of coin mints that do not sell direct.
I read your comments and appreciate your respectful disagreements with my vid. And I definitely agree with this point in regards to selling direct. I mentioned that Goldback doesn't buy them back. Vendors and distributors do but not Goldback and I find that odd. They could buy back from consumers, batch them and resell to distributors as circulated bills. Again, I understand this is more energy and effort for the company, not to mention extra fiat to do these things but I wanted to point it out as I do feel it's an important note.
Yes, definitely not stacking. I don't think I mention that in this video that it is for stacking, and in my previous GB vids I have expressed it's not a stacking item, not is it GB's purpose. However, GB specific targets large STACKING channels to promote these to their audience. They aren't going to a financial channel or a gun channel (many of these are sponsored by bullion box companies or precious metals IRA companies) to promote them. Which I find interesting. Yes, one wants to target likeminded individuals but the focus is almost entirely on stackers. I don't know if you're in the instagram precious metals community, but most of the more well known sellers on there are not stackers, nor do they own precious metals, they just sell it, and they promote and sell the crap out of these to stackers as a way to get in on "cheap" gold. I know GB has provided sponsorship to many of those sellers. So while these are not for stacking, nor is it their function, GB targets stackers through their proxies.
Yeah, we should just shut up huh, haha. Do you work for GB?
here's the problem with your "philosophy."
try buying goods and services with physical gold rounds / coins.
oh, use junk silver, you say ?
okay ... go buy a $1000 worth of goods with junk silver.
got a bucket to carry your coins around in ?
okay ... use fractional gold instead ... oops ... equally high premiums.
okay ... sell your gold and turn it into fiat.
darn it ... again ... lost a ton of money in the exchange for fiat.
there is a reason 5 states are now producing them.
hundreds of businesses now take them.
and the buy back of goldbacks follows the price of gold.
If people with gold backs won't trade even amount of metal?
Gold backs price themselves out of my budget.
But a gun
you know it would probably be more a scam if you could buy them from gold back themselves as the whole argument their making is a gold backed currency usable for purchases if bought from them directly states would probably argue its being manipulated for example you don't just get your dollars from the federal reserve when getting paid as the average worker but we all know the manipulation people that do get that directly are doing just sayin.
What you're saying about channels that talk up goldbacks, can be applied to you as well.
How so?
Thanks for the perspective. I have a number of goldbacks. I bought them naively thinking they could be one part of my stack. Now I realize that to not lose $$, I have to keep them for an extended period before. At this point, they are in the safe purely for the collectability aspect. The fact they gold in them that, if held long enough, will likely increase their value is a nice add-on. Of course, I understand that spot price of gold fluctuates, sometimes wildly. My goldbacks may lose "value," but they could just as easily increase in "value." I appreciate your deep dive into the premium aspect - very enlightening. I knew the premium was high when I bought them, but being a nube to the world of precious metals, I didn't fully understand how HIGH that premium was in comparison to other products such as bullion and rounds.
I had the same idea as you abour the premiums at first. But they do circulate states and they circulate above premium so the end result is not in losing money.
As things become more popular the premiums will go down. And they will trade at spot. If things were priced in gold it wouldnt be a preium what ever cost 1/1000 oz will just be 1 goldback
I personally won’t be buying any, but bullion exchanges online has them selling for at spot price. They’ve been at that price for weeks now. Not very popular I guess
Lol.. you triggered a lot of people! I stumbled across your video while researching 'goldbacks'. Looking at all of the pros and cons of buying these things, I just can't get past paying double the price, by weight. That's insane. I'm no expert, but it seems to me that silver coins already fill the need for small purchases. Novel idea, but no thanks.
However, you're painfully naive about the potential chaos of a nationwide economic collapse. People in Venezuela would disagree. I remember seeing a video of people standing in line for something (food?) and an altercation between two people, in this line of dozens or hundreds of people, ended with one being shot dead. No one moved for fear of losing their place in line. Nevermind, the chaos and violence caused by political unrest here in the last few years. Remember, the 'history' you reference also includes the fall of the Roman Empire. I wouldn't be so dismissive of the potential for a severe reaction to an economic collapse.
you dont get it either its not about dimes its about global universalization on access of gold and silver and the premiunns its because there small yet not a way to store if not a mean of exchange in a trusless world and situations
Spot on! I had a small shop for years, I took bullion many times but not Goldbacks but that's just my business. I have a few Goldbacks for the art but premiums are way too high. Someone once told me your paying for the technology like a car. My comment was a car has other uses than barter. I can see a common ground between fiat currency (trust the government) and Goldbacks (trust the maker). To each his own.
The problem with gold coins is their value. Is way too high to use in day to day transactions , even the smallest gold coin
That's why silver works great for small transactions.
@CampbellsCoins seems like if goldbacks continue to gain momentum and premiums go down. We won't need silver for that. And gold maintains a greater value then silver.
@@chrisbytwerk3712 premiums are already over 100% with it's current usage. How much usage would have to be gained to bring it down to reasonable levels? Especially when items already exist to perform the same duties Goldbacks do.
@CampbellsCoins I think if they would have other goldback like products,, that could off set the cost of making goldbacks. Goldbacks have been verified to contain gold. Another youtuber proved it had the amounts they claim. That alone gives them value. Just don't make them a main part of your stacking/portfolio. Just do a tiny investment. If you're going to.
Is it really worth it to have an alternate form of currency like GB?
You paid for them with currency, and paid much more than what the actual gold is worth.
You then have to find who accepts them, and recieve your change if you didnt pay the exact amount of the gb.
Your change isnt in gb. Its in typical currency.
I understand where he is going with this video.
Theyre a novelty, which I don't mind paying for. I own 2 sets.
"I paid $100 for $50.
I was even able to use it as currency!
My change was typical currency too. Pennies and all. Boy, did I stick it to the govt or what"
😂😂
It doesnt benefit ME to have alternate currency. Maybe it does for you if you have a money printer.
I got some from a local pawn shop and got a discount but I wouldn't get more, I'm not mad at them at all honestly but I would stick to buying silver than pay the high premium for gbs
You almost had me but you talked bad about the gun channels so I’m putting my whole 401k in to gold backs, JK I’ve been suspicious of gold backs since I saw them and that they cost double there weight in gold
Gold backs would become a better thing to have if more people used them. Which is probably the biggest problem, it's hard to get people to use these.
So, how many goldbacks do you guys really own? I still have a dozen, and I'm like you. I'm just waiting for everyone else to throw theirs out.
Throw out Gold?..That makes no sense
Are you married, do you have kids? Supporting a family isn't cheap. Its not always easy to put $2,000 together for 1 coin If silver drops to near $10. Then smaller silver coins would be useless for everyday purchases, should it come to that.
Huh? Why are we talking in hypotheticals? People don't need to spend $2000 to get gold. Plenty of options for all wallets.
@CampbellsCoins Exactly. Like 1 gram bars, monetary bills made/verified with gold. Anything with gold in them will have value/importance down the road. Like it or not. Goldbacks will be handy when SHTF.
It's insanity. People pay $26 for a goldback because the local store will take at the face value of a dollar.
Try to spend 1000th of an ounce of Gold on bread and see how it works... not a problem with a Gold Back
Diversified options, yes the premium is outrageous, but I can trade it with those who are not aware of the options.
I bought goldbacks but i support your argument and will subscribe.
lol I bought my gold backs at 3$ a piece not sure how much they are worth now
But my favorite thing about Gold backs is the art
If you can't afford gold get silver. You can get a 1 gram silver coin for less then a dollar.
Fractional silver has horrendous premiums.
@@CampbellsCoins and yet still better then holdbacks.
@@louiscypher4186 haha very true! Better and cheaper.
Next please tell the truth about fractional silver pieces. There is no point in them as long as pre 1965 rosies and etc exist.
Truth.
Ohh I have. It's just an oldie. th-cam.com/video/1sdYECJp4bw/w-d-xo.htmlsi=kaaz15JgGvTVOaW_
Thanks for your opinion on the premiums. However the same applies for other real world assets... like the insane home prices. Value is in the eye of the beholder.
For sure, buy whatever you want. It's not really an opinion though. It's fact. Goldback premiums are insanely high when compared to gold and silver coins/bars. They also aren't accepted everywhere and those buying them in states where they aren't accepted will have a hard time getting rid of them without taking it in the shorts.
Interesting
🤟
What a RIP, last I checked 75% plus premium!
2024 120% premium
As the guy that invented Goldbacks; I can't tell you how invaluable the feedback in this video and your other Goldback-oriented videos has been. I've watched them many times and have taken notes. You've done Goldback (the company) an incredible service in talking about them and shining the spotlight on some of the potential issues/failings of the company. Even if I don't agree with everything you say, that doesn't take away from the value of hearing another critical perspective. No product can be successful without going through the fires of criticism. This type of feedback is crucial.
Thank you. You are appreciated.
That said, I hope that this isn't your last video on the Goldback! I'd offer to ship you some for that purpose but then... well... you know...
This is the sign of a good president of a company. Humility and taking criticism. Assuming this is not a fake account. Would love to work with a team like that. I wish you guys luck in your endeavor.
The only positive thing I can say to you is congratulations… you proved the old adage that there is a sucker born every minute!! 🤦🏻♂️
I’ll gladly take some if you’re offering.
Instead oh having the guts to respond to you Campbell coins will just call you a bot
Appreciate you listening to my videos and harsh feedback! As the inventor, I know you won't agree with any of my points nor do I ever expect you to. It's okay to disagree. I'm glad you're trying to reinvent sound money in a debt fueled world and convenience. You're fighting a steep uphill battle in that regard and with that you have my respect.
At least you did some self-reflection at 3:05.
Bazinga!
You and 2is1 are the best on youtube
You said it!!! My two favorite channels, for sure!
Appreciate that Matt! 🍻
Thanks man!
😂😂😂😂😂
😂😂😂😂
The fact that you are actually thinking logically about all this is worth a subscribe.
One point. $2 melt value sold at $4 is a 100% premium.
Appreciate your sub! Thanks!
Still buying goldbacks
I saw that snake oil a mile away, they're not worth the premium on the product. Quite honestly you'd be better served by getting some constitutional silver or regular silver bullion.
🐍 🛢 is probably a understatement. Yet, you are very correct
The premium we Settle for on the US Dollar every day way surpasses the premium of the GoldBack!!!
The most polarizing bullion on the planet!
-SmartSilverStacker
Yet the most misunderstood.
The dollar has lost about half of its value over the past 25 years.
When you buy a goldback, you take that 50% loss in a matter of seconds.
@@kenofken9458 yes it is possible but only if one doesn't understand them. Which I believe most don't yet. Time will tell.
I've used them successfully many times.
Goldbacks: cool concept, artfully done, ridiculous premiums. God bless America and yee-haw capitalism. Let freedom ring. Caveat Emptor
100%
They are collector items...fin
But the ARTWORK, the ART!!!, ARTWORK has Feelings!
Oh man, I really stepped in it this time. 😅
At 13:48 you say "Stop Watching These Horrible Gun Channels On TH-cam". Glad I went back and found your Q&A w:Campbell's Coins from last year.....LOL. I'm with you on the Goldbacks! Thanks for the video Sir..Liked and Subscribed...!!! God, Guns, Gold and Glory......Oh Yeah, Merry Christmas!
Haha amen! Guns are great but these channels from some 25 y/o punk playing GI Joe with his buddies in the desert, telling everyone what's going to happen in a SHTF situation, is just laughable in my eyes. Merry Christmas!
Local grocery store owner in my area as well as gastation and my attorney . Hold some of my gold and 100 oz silver as collateral/ retainer of service. Ask the business owner before shtf.
No they don’t
Lots of places take gold coins in exchange for goods and services, I'm glad yours do.