Gold is Money: Goldbacks are Bringing Gold Back as Currency
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- čas přidán 10. 06. 2023
- Goldbacks are reintroducing a gold backed currency to the US, and providing a model for US States to consider in a CBDC world. This 24k gold note proves that gold is money and demonstrates its usefulness as a currency that guarantees privacy and financial freedom. Did you know that up to half of small businesses would reportedly be willing to accept Goldbacks as payment? Goldback adoptions has resulted in soaring production of over 50X. In this episode, we discuss the future of this growing trend and some of the pros and cons of using this type of currency.
•Goldbacks ►www.apmex.com/category/19605/...
•Utah Goldback - Aurum Gold Foil Note (24k) ► www.apmex.com/product/204989/...
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The goldbacks are great! Ive used them in 20 transactions so far. Ive tipped with them, sold some, paid my lawn service, gifted some, transfered some (including fractions of one), vaulted some, am about to lease some, i bank some, you can borrow against your vaulted goldbacks to name a few. There are over 700+ businesses accepting goldacks now and growing. They are collectable too. Early editions are worth a lot. They are gold you can hold. Gold you can spend. Gold you can invest in.
Thanks for the video.
They are way over priced. For fractionals I rather get silver dimes and quarters.
What about durabilty over time + who's going to replace these when they become worn or damaged!?
@@__WJK__this. Plus digital currency is moving at a faster pace
@@__WJK__Good point.👍
@@Figs4Life Agree.👍
Goldbacks are a hedge against inflation. With the dollar value decreasing almost daily, I have found that I get more value for my purchases when using the goldbacks. For instance, I bought an appliance from a hardware store that accepts goldbacks. With the exchange rate that is in place I actually spent less for the item because I had purchased the goldbacks months before. While the dollar values decline the goldback values generally increase over time. I keep buying goldbacks and I tell any business owner that I do business with about them. Some have even agreed to accept goldbacks, and I believe there will be more acceptance as the dollar value continues to decline.
What’s the name and location of the Appliance company?
How can they be a hedge against inflation if you're paying at least double for them. Last time I looked gold has not gone 2x its value recently.
Your concerns about durability would makes sense except that these are manufactured with a micro layer of gold sandwiched between two incredibly thin layers of plastic polymer, similar to newer Canadian currency. Which means they're actually more durable than paper. It's worth looking up how Aurum (the actual product name without the Goldback branding) is made - which you can find here on CZcams. You can handle them without gloves because you're not actually touching the gold.
The first time I saw goldbacks I thought they were already in the bullion market since the early 2000’s. I didn’t think they were actually that new. The first time I added some to my portfolio was about three years ago.
Hold onto them! The earlier ones with the original artwork have a numismatic value to them now.
A suggestion for durability, (1) make them twice as thick, which will make them half the size but not to tiny to be lost. (2) now they will fit into a regular wallet without folding.
I see durabilty being a problem + who is going to replace them when they become worn or damaged(?)
@@__WJK__ Alpine Gold/UPMA will exchange them as long as they have the gold content still in them. Give em a call and ask them about GBs and they will tell you about it and a heck of a lot more and you'll be mad because you didn't get some earlier :)
They also make wallets specifically for GB's to keep em nice and pretty and undamaged.
The company said you can mail them in for free replacement.
I think there should be silver backs for 1 to 10 dollars and then the higher denominations in gold. Also with increased tech they should be able to make these bills more durable.
No. Just buy 1oz silver coins.
I live in Utah. Go Utah!!
I live in Nevada...GO WOLFPACK!!! Goldbacks rock!!!
Gold Backs are awesome gold goes up the GB goes up. Wy , Utah , Nev , New Hampshire already have the GB. With Ak , South Dakota , and Idaho to start getting their GB soon.
Gold need to go up at least 2x for you to just break even.
I love the Goldback. I know there is a high premium, but that premium is also used in the transaction and built in value. Not all can appreciate it and thats cool, but for me, I can see past the metal value and into the usability and convenience of the product as a whole. Get diversified and buy what you like is the way that I like to live by.
you know what works better is a good old fashion $1bill, and you don't have to pay 200+% markup.
@@JS-ls8iudollar bills are worthless
Sounds like something a Goldbacks employee or investor would say from a burner account 🤔
Love goldbacks... Really awesome idea... But the premium is way too much.. I get it though being how they are made.. Maybe over time we will be able to mitigate some of the premiums do to more people buying them... as a stacker and a collector... I got one of each set, just to add to my collection.. Ty for the video as always guys😎✌️...
By the way, I do keep about 20 of the 1 dollar size and 10 of the 5 dollar size in my backpacking / camping set... Works very well for trade on the trail... Yeah, we could just carry cash ( unicorn fart dust money as some call it), but why not use the gold backs to spend the word of gold and precious metals.. amazing conversation starter as well as to trade for trail food, batteries and other things you may need out and about 😎✌️
The premium is part of the utility value and stays with the Goldback just like your car is worth more than its scrap value. If you ever want to trade your physical for cash the UPMA will give you their current market value minus 5 percent or their full current market value if you vault with them which is a heck of a lot better than those fractional coins you've been stacking for all this time. I would, however, suggest you hold on to those early GB's because they are updating the artwork and the originals are getting a numismatic value attached to them.
But, yeah, I get it. You anti GB coin and bar stackers are stuck on the premiums and can't get your head around how you pay a premium for other things and that premium stays with those items as well until they are consumed or of no more use and THEN they are worth their spot price or melt value.
Can I interest you stackers in selling those silver eagles you paid 40 dollars each for when spot price was 23? I tell you what, I'll give you whatever Apmex buys them for plus 50 cents over lol. I guess 5 percent under whatever current market price for GBs are aint so bad is it?
Edit: Sorry (well not really) about being a smart butt. I just get tired of stackers constantly harping about the premium when they can't understand utility. There are ways to not only keep that premium but actually profit off of your Goldbacks. Its simple. The premium stays with the GB because of it's utility. I mean feel free to go ahead and take your gold eagles into one of the myriad of businesses that accept GBs in Utah and try to buy lunch with them or try to flake off some of the gold to the exact amount but they will probably look at you weird and say "no, just give us Goldbacks and if you give us more than you owe for your lunch we will give you fiat in change or Goldbacks and fiat to make up the difference in change".
Say it with me...... The premium is part of the utility of the Goldback and stays with that Goldback and the Goldback is worth the current market value or..... what you and the business owner deem them to be worth to both of your satisfaction.
Again: The premium is part of the utility of the Goldback and stays with that Goldback
Again:The premium is part of the utility of the Goldback and stays with that Goldback
And again for good measure:
The premium is part of the utility of the Goldback and stays with that Goldback
Get it?
P.S. Good on ya for having some Goldbacks. If I were you I would open up a free UPMA account and get some more. Heck maybe while your at it even lease some and get paid 2 percent APR in Goldbacks every month. FREE Goldbacks!
Additionally, the loss of value of the dollar helps to offset the premium. Also , a goldback's value changes with the price of gold, generally increasing, and offsetting premiums.
I am stacking these now.
Real GOLD
They've had very successful and steady growth in popularity since coming out.
Goldbacks are very cool. I love the idea, I hate CBDC'S and the loss of my personal freedoms. I have several of the and love the vintage artwork as well.
Goldback, inc will replace a damaged Goldback if you damage them.
That's nice to know! 🙏
Fractional Goldbacks.. let's go Texas 😀❤️❤️❤️🇺🇸
Let's go
I know right?!
I'm stacking Goldbacks too, in Hawaii
The main reason I do split my metals stack about equal cost between gold, silver and Goldbacks is the fear of potential gold and possibly even silver confiscation. There is historical precedent. Goldbacks however, in my opinion would likely not be confiscated because 1) they are state issue and recognized 2) the effort and cost of extracting the gold from the Goldbacks would not be cost effective for the government considering how little gold is actually in a Goldbacks. Unlike bullion or even jewelry melting, separating and reforming the gold is comparatively easy.
I watched a video right here on CZcams where they recovered the gold from gold backs... He simply put the gold backs in the melt dish and torched them back into gold... When he chemically refined them afterwards they seemed to be already ready to be poured as 999... So I don't think the recovery rate would be worse... It appeared to be the same pretty much
@@KevinSorbo.Sreetips did it.
Very good points. Pros and cons appreciated.
Thank you for your service and expertise.
Waiting for Texas goldbacks 😂
Love the idea. How do i get information for my my state to start issuing? I did just order a few to check them out.
I love them they are beautiful I have already used them to pay for golf but it took a little convincing the merchant they still need to catch on
You gave me all the info I needed thank you. I want some now.
Just bought 8,000 worth. Love the Goldbacks
I have wondered if a merchant who accepts gold backs as currency, will take into account the premium that is added to the original purchase. Given the premium issue and the fluctuating price of gold, there are downsides for the merchant and the customer. That said, I do have a few.
The premium does count into the value when spending.
Yes. Think of it this way. The premium is part of the utility of the Goldback and the premium stays with that Goldback. If someone is trying to accept your Goldbacks or are trying to buy your Goldback at spot price then they are trying to scam you. There are places (UPMA and Defy the Grid) that will buy back at their current market price minus 5 percent which if you hold long enough you will make up for. I consider that to be very fair and when I learned that I started to buy, stack, vault, and lease GB's and I am happy with them. Can't wait for South Dakota in September.
Interesting concept but coins rule due to their standing the test of time as “Hard” currency unlike fiat paper.
Fractional 22k or 90% gold would be my preferred medium of exchange.
Cheers🥃
How do we encourage more states to make their own goldbacks?
There are 3 steps for a state to have their own Goldbacks.
1. Legislation must support GBs
2. Funds must be raised for production.
3. A business network must be established, enough businesses willing to accept them.
That's it.
I have purchased some 1's and 5's to add to my options. I believe there is a place for this option in society as there real gold and value is fairly easy to determine. However I also wanted to have them to introduce in conversions when speaking of these volatile financial times regarding existing fiat cash, only 1 out of 5 so far in conversations have heard of this product but found it interesting and wanted to hold and check them out. So we'll see what comes of this. Premiums are high but I understand it cost to produce them, and that premium may come down if this product is better known, used and mostly understood by society as physical monetary value for what it is. Gold Thank you
If everyone who owns a few goldback would carry a couple and show them off or say, “Will you take gold for that?” The word would spread. BTW, there are at least 15 additional states working on their own goldbacks. It only take time, legislation and money.
I like to stash some everywhere I may be when an emergency happens. In vehicles, in tackle box, in office desk, in go-bag, in range bag, on bookshelf, in briefcase… you get the idea. They can easily be disguised to seem to be nothing.
The premiums are part of the utility of the Goldback and the premium stays with the Goldback. If anyone tries to buy your GB's at spot price they are trying to scam you.
Durability is not an issue. Ask GoldBack themselves.
Also, I am all for the GoldBack. I'm debating starting a solo campaign to get my State, Maine, to work with GoldBack and Aurum to create us a bill for use for our state private currency. Maine already allows Gold Bullion and Coin to be used as Currency granted both parties agree to the price of the Currencial Precious Metal.
I’m interested in this product and I will be grabbing a few of them but my questions would be if you use it as currency would you receive the same back in change of your total was between one denomination and the next?How is the premium reflected in your purchase from retailers as they are not face equivalent to the dollar value of retail price? What would happen if the price of gold were to double in value or decrease dramatically ?
Check out the calculator at Goldback.com/calculator to see how to convert goldbacks to dollars. Add a purchase price and tab through the process. It shows the process. Simple as pie. On the homepage, goldback.com you will see the daily price of 1 goldback (retail). If you join the UPMA, United Precious Metals Association, you can purchase goldbacks below the daily price ( bit.ly/get-goldbacks ) so the premium is fluid from transaction to transaction, you pass it on.
Since inception, 2019 the goldback has risen in value, $2.11 to today $4.04 mostly driven by demand but the value is reflected on the daily price of gold. So the goldback would rise and potentially fall as gold goes. But during covid when they couldn’t produce goldbacks they were selling for $50 ea on eBay all day long.
Goldbacks are tied to the market price of gold plus the premium. Yes the premium stays with the GB as part of its utility value. If a retailer is trying to accept them at only spot price they are scamming you and either go somewhere else or use paper money.
Goldback Inc posts the average market exchange price every day and it fluctuates with the gold market. A retailer should be using that as a guide as to what to accept them at in accordance with fiat. What it truly comes down to is what you both agree to or in other words, the market value between yourselves.
If gold increases or decreases dramatically then the GB should reflect that as well. My leased and vaulted GB's have only increased in value over time since I opened up my UPMA account. It does flux from day to day but overall I am up. I have also earned 2 percent APR paid to me monthly in GBs on my GB lease. I lease them with the UPMA. The Alpine Gold website can explain it better than me. Alpine Gold = UPMA (United Precious Metals Association).
Edit: Sorry I missed your first question. If I am reading it right then the answer is that Goldbacks are fungible meaning that 5 ones equal one 5. They are all divisible within each other. 50 one GB notes are worth one 50 GB note just like your fiat. If you buy something with GB's and get fiat in change there is a calculator on the GB website that will give you the exact amount that the retailer would give you back. The calculator can be edited so the retailer can change the exchange rate if they so choose. So... if you do use GB's make sure you know what exchange rate they are using and that you are good with it before you use them to purchase something. I hope that helps.
The Goldback is awesome. I hope Kentucky does a Goldback someday
They will!
This is what our national currency should be. Maybe they could make them more densely coated, but in smaller sizes like French WW2 era Francs where they were little squares. They could fit into a wallet that way without being folded.
I think Gold can be used as a saving & big stuff purchasing and a Silver coin used for small purchasing, if you feel the silver is high enough for purchase something, Copper coin can solved the problem.
ive been handing them out as random tips and gifts, JUST TO GET THE WORD OUT! they make for excellent holiday card gifts for the family 🤑 not to mention the convo it starts is priceless.
Dumb question, but what if you washed your clothing with a goldback in the pocket. The linen in “paper currency” protects the money, so it can still be used. What would happen to a goldback?
Its been tested for durability and Goldback Inc. will replace notes with durability issues. Give Alpine Gold a call and they can explain it to you.
Goldbacks are susceptible to creasing if you particularly don't give a crap about your money and like doing such things to things however don't be surprised if a retailer might refrain from taking money from you that you clearly liked abusing for some weird reason.
For those who have these, how do you store them?
very interested!
Great idea but DOA with huge premiums per note, around 100% over spot. Also, odd values per note: 1/20 of OzT AU is 1.55 grams. Would work better if demominated in grams. I would consider paying 31.1 OzT AU if receiving 30 OzT in goldback notes. That woukd be a reasonable convenience fee, around $70 USD per ounce of gold at $2000 USD
Sorry to inform you but your assumptions are not correct. The free market is determining the value. On top of that when you buy your Goldbacks at wholesale and sell them at retail there is no premium to speak of.
During COVID Goldbacks were selling for $50 ea. Did anyone care about the premiums then? I hope you have a large stack for the next SHTF event. I sure will.
Hey... I tell you what. How bout you sell me your car or truck for its melt value? Sound like a good deal to you?
Repeat after me until it sticks in that galaxy brain of yours:
The premium of the Goldback is part of its utility and that premium stays with the Goldback.
Ez Pz
Might be a little hard to get them across the border, because, we use metric instead.
But overall I'm supporting the Goldback, but I would prefer an alternate uses fractions of grams rather than of troy ounces.
i am in Texas what can i do with gold notes? do dealers buying it in my state?
I'm jk, but really....THIS should be the future in America.
Incredible product. Hopefully the adoption will only grow. Also, when platinumbacks ? :)
Americans have had stable currency for so long that they don't really understand the power of the Goldback. But show someone from a third world country the Goldback and they'll be all over it. They are being sold all over the world, in fact, Goldback inc is limiting sales outside of the state to help the US have exposure to the Goldback.
Adoption is happening on the state leadership level. With over $60mm sold so far expect them to grow in awareness.
To help, carry some and show them off. Ask, will you take gold for that?
@@danielbbq - Interesting comment... so who (or which agency) is responsible for issung replacements when the originals become worn and/or damaged from daily use???
@@__WJK__ Goldback Inc. will replace your worn GB's. GB's have been in use for several years now and for some odd reason I keep seeing people scream about durability yet I have yet to see anything about actual durability problems from people that use them. Interesting, no?
I have had GB's in my stack for several years now and although they don't get messed with much I do enjoy taking them out from time to time to admire them or show them off and I have had no problems whatsoever. Maybe you should get a few and see for yourself? They are really cool to have and give as gifts if you feel like parting with them. I only gave one away as a tip to a notary that worked at a bank and after showing mine to her and explaining them I gave her a 1 Utah note and she grabbed it out of my hand like she meant business ha ha. They are really cool to have.
To GB's credit they said they had a few rare cases of I believe the 50 having some separation and said they are glad to replace them. Now if you let your 50's separate completely and wear off all the gold I would expect them to tell you to get bent and I would agree but it there are some corners starting to separate they should replace them. They would just end up Assaying them to recover the gold and reuse it. They Assay them all the time as quality control so it would be no big deal to them.
Feel free to give Alpine Gold/UPMA a call and they can explain everything to you.
@@__WJK__Alpine Gold
Hmmm
This is honestly eye opening to say. I don't exactly know why but given how currency are used (and not used - yes savings) it is honestly surprising to me legislatures are even discussing this on the Hill.
Question to whom ever by chance reads this comment here, are their any links that can shared to explore into this? Thanks if so. take care.
Time to start making those special wallets. Are silver backs or copper backs on the way? If half of small businesses are willing to accept these, how many banks or credit unions or utility companies will take them? I have more questions. I'm glad to see an alternative to the dollar like this. 👍💪🙏
Great questions
They made some Silverbacks a while back just as a collector thing. They only had a couple of cents worth of silver in them so they aren't viable at this time. If the price of silver goes up they are ready to go and make them as they have the trademark to the name Silverback.
It's actually real gold and a gold certificate because you can exchange it at the private firm that made it "branch" vault locations for bullion
This looks AWESOME.
An Alterative to the fiat printing machine which is completely out of control
Already added them. They are beautiful and they are gold.
I like your style.
They are gorgeous
I want to buy them but the websites are sketchy as hell. Grammatical errors and misspellings everywhere.
I would love for this to be adopted in all states!
So would we!
love of money is the root of all evil. but you can repent by giving your goldbacks to jim bakker
They are huge in size! How are they folded and does the price change every second like gold does? Aren't most of the buying public using Credit cards while banks are online and the average person never has to enter a bank branch. Same with stock transactions, all online. I even have bought my cars online from a dealer about 110 miles away, wired the money and they drove it to my home.....about 7 cars/trucks. Curious minds are open and listening! Thanks.
They make a special Goldback wallet designed to hold them so you don't have to fold them and they hold other things like your credit cards and such.
As far as your other question you can get a UPMA account and it acts pretty much like a bank account except you are holding gold, silver, and goldbacks. You can always have them send you a check if you need money or you can also have a visa debit linked to your UPMA account. I believe they will also wire to your bank if you so choose. UPMA is a vaulting service.
You can vault your Goldbacks and spend them with a visa debit card or transfer them like Venmo.
I like the idea. Depends upon the premium to Buy a Goldback.
Right now, I can cash a $1,000.00 check at a bank and get 10, $100.00 FR notes at 0 cost. If I have to pay $1,150.00 for 10 Goldbacks valued at $1,000.00 I'm losing money.
Can I get my Premium back when I use a Goldback to make a purchase?
We probably should have covered this in this video, given all the comments and questions about premiums, but yes you do get your premium back to some extent. When you go to use a goldback there's a goldback exchange rate. The average right now is $4.03, but it changes over time. In 2019, it was $2.25. At 1/1000 of an ounce that would put 1 goldback at $4,030 per oz, which means you're getting some premium back in that.
The premium of the GB is part of its utility and the premium of the GB stays with the GB because of its utility. Make sense? Kinda like your perfectly good running car is worth more that its melt or scrap value because it is a good running car. It has utility which makes it worth more than scrap. Yes the car depreciates over time because it will eventually wear out. Goldbacks don't have that problem because if you have issues with your GB's durability you send them to GB and they will replace them for you.
Ordered some last week. When will APMEX handle a wallet for these?
Great question, I'll pass it along to the team
The problem with things like this is only a handful of states recognize them as legal tender. Want me to sing really unless at least the majority of US states recognize gold silver and precious stones as well as other precious metals as legal tender.
Even in the states that don't recognize them, you can still barter with them. I have found many merchants willing to accept them in non-goldback states (I occasionally ask around). They seem to like the idea of something backed by more than "full faith and credit" when we're $34 trillion in debt. And I think the beautiful artwork has something to do with it.
I love the gold backs! These are great to give to your children for chores, helping out, etc.
Interesting way to use Goldbacks..
what are the kids going to do with a goldback?
Goldbacks!
If only premiums on goldbacks weren't that outrageous.
You’re looking at the goldback incorrectly. It’s value isn’t strictly the gold within. The market determines the value and has determined it to be more valuable that melt value. During COVID goldbacks were selling for $50 ea. Why didn’t I sell them during covid? I could have had 1.5ish oz of gold ($3,400) for the $850 in goldback I had. Premiums schemeiums.
@@danielbbq genuinely curious where did you see goldback prices $50 during COVID?
@@usptacton eBay
I'd really like them to be more accessible in the UK
Got me a few of those. Got them as a "novelty" kind of thing when they first became available.
Little did i know the world was gonna go full retard again.
So, yeah, i been gettin a few here and there to have around just in case.
Gold dust powder is significantly cheaper than gold bullion
Gold Dust Powder Price
The value of dust powder is $ 934.89 per ounce for 22 karats as per the costs of the international gold market
More than 300% markup
Gold backs look very promising. There should be more towns that want to test these as a local currency. Why can’t we have plastic covers for them like Pokemon cards and our favorite bookmarks? $3.77 is the lowest denomination so you can use this for every day items.
I wish they were more federal looking, like the dollars symbolism of liberty etc
What happens when the plastic protection turns yellow over time?
Then you return it for a non-yellow goldback. Or does that make it more golden? Hehehe.
I love the idea but you'd need a way to encase them in a tamper proof case so no one who used the new money would lose any of it by it flopping around in their wallet losing gold foil through their day. One year in there'd be corners missing and like a ripped 20, stores will be expected to take it. I see this going swell already
Exactly. In their current iteration, these aren't going to replace traditional paper currency anytime soon, aside from "maybe" appealing to collectors in 10-20+ years(?)
If you have damaged GB's they can be exchanged to new ones just like the Fed. They also make these nifty leather wallets specifically designed to hold Goldbacks and protect them without them getting bent. The gold in GB's is encased in an outer layer of polymer that is very strong and has been tested. There have been rare cases that the 50 GB has had some separation occur and Goldback has said they will be happy to replace them.
If you intentionally abuse your Goldbacks just to try to make a point that doesn't make you smart, that makes you a dumb dumb.
I got some at the famous PAWN STARS.. they truly should be the standard. The killer is the premium they have
I love the concept and the bills are pretty. However, they will not catch on as a valid currency.
Love mine 👍🏽
How do you test a Goldback for authenticity?
Use an XRM machine. That being said these things would be so hard and expensive to counterfeit its not worth the baddies time and effort when they can just stamp out fake coins and bars. There are many videos on CZcams that go into more detail about the security features of the GB.
Sree tips did a recovery vid.
Would say that they are more numismatics than actual currency in daily trading
Why not coins made of minute amount in a plastic serialized chip including rfd? Casino chips with prescious metal?
what is a prescious metal. did you mean precocious metal
I have been buying goldbacks for a couple months now. I have some goldbacks that arent made anymore. I hear they are worth a lot more than what i paid.
try selling one to find out
I am investing in these. I have silver bullion and since i bought high, im currently stuck with it.
If I use Goldbacks to buy something in a retail store, what will I receive back in change ?
I wish the creator of the goldback could also create a cryptocurrency based on the value of the gold back. People could send their soon to be worthless dollars in to goldback bank and have a crypto store of value based on the gold standard. That would also be easy for everyday transaction and eliminate the fragility problem of tuw bill. The customer should be able to cash out their crypto account for physical goldbacks at any time.
Don't you find it the least bit odd that the creators of goldback, and all forms of crypto are ever so eager to accept all these soon to be worthless dollars? Like incredibly eager?
I have a couple as a novelty. They are pretty and gold.... but they are aren't going to turn into the newest BTC or anything
Silver coins make a lot more sense for daily transactions. A dime buys a loaf of bread. A quarter buys a gallon of gas. Simple. Gold is only for major purchases.
Tell me where I can take a quarter and buy a gallon of gas. Tell me where I can buy a loaf of bread for a dime. I would imagine you are talking about those dime and quarters that they quit making 50 years ago and have worn down and lost value because they don't make anything like that anymore.
Goldbacks solve the problem of having to use gold for major purchases only. That's kinda one of the main points of them.
And they are BEAUTIFUL
Tangibility eh? I can get down with it.
So many "IF" type questions.
They way this gets trashed out, will be over time (and I think it will not take long).
What I mean is that with CBDC bullshit, if you want to buy something like ammunition, the bank can decline your purchase . . . WTF ?
Yeah, it's true.
So you have an electrical issue or plumbing issue and the craftsman really doesn't want CBDC because he doesn't want to pay taxes.
You wanna tip a waitress ?
You want to be benevolent and give to the homeless
All of that is now prohibited.
Those "Goldbacks" should be good.
**** The issue that I see is the premium that is charged.
I'm sure it'll get worked out
Unless they trade at spot price, its just a novelty item, making profit to the manufacturer only
👍👍👍
❤
Why don’t you guys invest in dividend stocks that pay you income instead of metals that do nothing but sit in your vault? I have some metals but think I’m going to focus more on stocks
Because the numbers on your screen are made up. Greedy traders playing around with your money. Haven’t you ever seen wolf of Wall Street ???? Bernie madoff??? At least you can hold it in your hand and it’s not a virtual representation of wealth.
Next up will be the SILVER BACKS!!! 👍👍
The Philosopher's Stone. In 1980, gold was successfully made by a team of scientists at the Lawrence Berkeley National Laboratory in Berkeley, California.
Nuclear chemists Glenn T. Seaborg, David J.
Morrissey and Walter D. Loveland used a high energy nuclear particle accelerator known as the Bevalac which transformed the metal bismuth into gold. The process is known as
"Chrysopoeia".
in a SHTF scenario, both goldbacks and fractional silver will be worth only the metallic content within. However, goldbacks have such a higher premium over fractional silver, its a waste of money. I would rather have fractional silver. In an anti-CBDC scenario, gold coins will be larger purchases and fractional silver for smaller. paying such high premiums fog GBs now may not be a good investment for either scenario.
We use dollars because they have a utility value. There is a true utility premium in anything that can be used as money. When all of that utility demand leaves the dollar then where do you think it would actually go? No other forms of gold are anywhere near as nice for transacting as Goldbacks. In a dollar collapse scenario, there won't be a better form of gold to own.
How much value has the dollar lost in the last 4 years? 1/3? Half? The goldback has nearly doubled in value since 2019. I’d have some goldbacks.
During the initial covid scare GB's skyrocketed to 50 dollars for a one GB note on eBay. The market determines the value due to the circumstances.
I mean if you want to use gold flakes for purchases when you need a loaf of bread feel free to move to Venezuela cause that's what they are doing.
I can sell my Goldbacks at current market value if I vault or if I so choose I can sell my physical that I stack in my safe and only lose 5 percent off of current market which means those that I have held onto have made up that 5 percent.
The premium of the Goldback is part of its utility and that premium stays with that Goldback because of the fact it has utility. Not understanding why you guys can't understand that. By your logic you must sell me your car or truck for its melt value.
your right , premiums to high , i dont wast my money on premiums
I think if you put the gold between two layers, it would be better .
I think it is
I love the idea of the goldbacks but... the premium on them is to high
The premium is part of the utility of the Goldback and that premium stays with the Goldback when you spend it.
If that concept is a little advanced for you to comprehend that I tell you what. I will buy your car or truck from you and the amount I will pay you is its melt scrap value and you will be happy to take that amount because of the way you think of the value of things.
@@kivie13exactly. ä
Don't believe me try to melt one 😂😂😅.
Goldbacks are way more durable than dollars because they are made out of plastic instead of paper. Otherwise great video!
give me some first!
I could get into gold backs
Love the idea.... but unfortunately the current premiums on Goldbacks makes their use as a "currency" unlikely. The durability is another issue. Coins dont have that problem.
Hopefully they come in line with the value of gold and work this out.
Sigh........... always "but muh premiums"
When you go buy a car do you demand to pay only the melt value?
When you go buy groceries to you demand to pay what the seeds cost for those apples and the meat should be free because it really doesn't cost anything when animals breed?
No you don't because you are an intelligent human being and realize it costs money to make those things possible to sell which is a premium you gladly pay for those items because those items have a use or I daresay a UTILITY (GASP!!!! OH THE HORROR>>>>>> a UTILITY THAT MAKES IT WORTH SOMETHING OVER JUST MELTING IT AND HAVING NOTHING BUT A TINY NUGGET OF GOLD THAT YOU'LL LOSE)
So since you are an intelligent human being with a BIG galaxy brain I would imagine you can understand this (don't worry I'll say it slow and repeat several times so your Einstein intelligence can get it):
Say it with me...... The premium is part of the utility of the Goldback and stays with that Goldback and the Goldback is worth the current market value or..... what you and the business owner deem them to be worth to both of your satisfaction.
Again: The premium is part of the utility of the Goldback and stays with that Goldback
Again: The premium is part of the utility of the Goldback and stays with that Goldback
And again for good measure:
The premium is part of the utility of the Goldback and stays with that Goldback
Get it?
As far as your durability concerns there aren't any. Goldback Inc. is happy to replace your Goldbacks if there are any durability issues you may happen upon. They also make this nifty wallet that is designed to keep your Goldbacks all nice and purty and you don't have to fold them up in your wallet. Genius thinking, right? I mean who could have ever thought to make a nice wallet that is designed to hold your Goldbacks all nice and safe and not only that but you can put your fiat currency AND your credit cards and drivers license in it as well. Rocket science I tells ya. Rocket science.
And we ask what is the premium on a piece of paper currency? I rest my case…enjoy.
They're pretty durable and they are excellent for fractional spending. They are also worth $4.04 as of today's rate, so the premium isn't as bad as you think
They are very durable. Far superior to the dollar. Idk where people getting this idea they aren't durable
Bring back silver coins (dollars, halves, quarters and dimes) and they will beat those fragile gold notes hands down. And to make that move works better the federal government should make the face value of the old one dollar silver coin a $25 coin and the old half silver dollar could be a $10 coin. The new quarter could be a $5 coin and the dime a $1 coin. That would be better and more practical and widely accepted alternative than a brand new currency notes even if they were golden😊
The practicality of these is markedly inferior to loose silver coins in your hand. And gold in all forms is inferior to silver, as silver is far more price suppressed.
If we get to the point where PMs are being used as currency then I'll bet gold coins and bars will be just as fungible.
Where can i get goldbacks. Ill hold it till needed when hyperinflation hits. And its coming.
I want them to make a New Mexico gold back
Gold Backs are a great way to take back the dollar value control from the federal reserve!
"Hard money lets the people rise, but it clips the wings of governments. To the extent government makes the rules, they will therefore fight it with everything they've got,"* unless we make the move to hard money (Goldbacks) without their permission!
* Peter St. Onge
The Dollar is dying. The Goldbacks are the future of sound money.
6 STATES ARE USING THEM