What are Goldbacks?
Goldbacks are the newest and most innovative way to acquire real, physical gold in a form that’s convenient for everyday use.
Here’s a quick introduction:
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At the heart of every Goldback note is a layer of precisely-measured 0.999 pure gold. Using advanced technologies pioneered by Valaurum, 24 karat gold is deposited between two layers of tough, durable polymer. The result is a totally new form of gold bullion that’s flexible, durable, easy to store and use. Every Goldback note is individually serialized and has multiple anti-counterfeiting technologies embedded in its design. Valaurum says their work has never been counterfeited!
Goldbacks are produced in a number of weights and denominated in 1/1000th oz of gold. So a 5 Goldback contains 5/1000th troy oz (same as 1/200th troy oz) and a 50 Goldback contains 50/1000th troy oz (or 1/20th troy oz) of pure gold.
Wait, did we just say “easy to use”? That’s right — small businesses that accept cash payments are very often more than happy to accept payment in Goldbacks, too. (See below for lists of businesses who’ve confirmed they accept payment in Goldbacks.)
Thanks in part to their small fractional weights, these Goldback gold notes make buying physical gold affordable enough that anyone can do it. Heck, you can buy a Goldback for less than you’d pay for lunch at a drive-through window! Maybe you thought you could only afford silver? Take another look, because Goldbacks are priced to allow anyone to buy gold bullion. Stocking up on real, physical gold isn’t just for billionaires anymore… Goldbacks are the everyday American’s way to buy gold at an affordable price.
Where are Goldbacks accepted?
Want to pay with Goldbacks? Look for this sticker beside the ones that credit card companies hand out:
Don’t see the sticker? Don’t give up! Based on research done by the Goldback team, acceptance could be as high as 50% among small business owners. “Small business” here means the opposite of franchises. Think carpenters, gunsmiths, lawncare and landscaping companies, mechanics and body shops, plumbers…
Goldback Inc. maintains a list of companies who’re eager to accept this self-backing, real-money method of payment. If you’re in one of the states below, you can spend your goldbacks at these locations.
- New Hampshire businesses where you can spend Goldback currency
- Utah businesses accepting Goldbacks
- Wyoming loves when you pay with Goldbacks
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Here’s how it works…
The fine folks at Valaurum figured out a way to apply a microscopic, like atomic quantity of gold evenly and reliably onto transparent polymer. By “reliably,” I mean Valaurum can measure as little as $3 worth of gold (at today’s prices, that’s 0.001620 troy oz or 0.05 grams of gold – like I said, almost atomic). They use thin-film technologies similar to those used in semiconductor manufacture. In some of their projects, they actually apply gold atom-by-atom as a three-dimensional structure. Wow.
This incredibly fine gold film is applied to a thin, transparent and tough polymer, then layered over with another sheet of polymer. Goldbacks have decorated obverse/front sides, while their backs show a sort of photo-negative of the design on the front. The result is a surprisingly tough and durable note, almost paper-thin, containing a precisely-measured quantity of physical, 0.9999 fine gold. Not only is this physical gold, it’s recoverable as well, meaning you can melt down your goldbacks
Goldbacks are denominated in 1/1000th troy oz of gold (so this 1 Goldback has one milli-ounce, or 1/1000th troy oz, of physical gold at its core – and the largest notes, the 50s, contain 50/1000th troy oz each). They’re currently produced in five denominations: 1, 5, 10, 25 and 50. It’s easy to tell them apart – the bigger-denomination notes are, well, bigger. Like so:
Goldbacks are the first-ever actually usable gold money we know of. The developers did a study in Utah and found that over 50% of small businesses were delighted to be paid in goldbacks rather than an equivalent amount of vastly less-awesome paper money.
So, what are goldbacks?
- Sound money backed by their intrinsic value of gold
- Small enough to use for everyday transactions
- Convenient to carry, barter and actually use
- Not burdened with an absurdly-low “face value”
Friends, if sound money has a future, this could very well be it.
Goldbacks for sale
Since their launch, it’s been tough to find goldbacks for sale. Even though they aren’t considered legal tender at the federal level, they’re legal to own everywhere. At the moment, we have a limited quantity of goldbacks for sale – if you see one you like, I strongly encourage you to buy ‘em now. They won’t last long!
Utah goldback notes
Utah was the first state to get its very own goldback notes. Interestingly, goldbacks are technically considered to be “specie legal tender” in Utah. In other words, they’re a legit and legal form of money in Utah.
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Utah was where the goldback was born. As the goldback team tells us:
The State of Utah was done first in the second half of 2019, Utah was chosen in large part due to the passage of the Utah Legal Tender Act in 2011 but also because Utah is Goldback’s home state.
Utah goldback notes have the following designs (see image above):
- 1 – Prudentiae (Prudence)
- 5 – Veritas (Truth)
- 10 – Justitia (Justice)
- 25 – Victoria (Victory)
- 50 – Libertas (Liberty)
Nevada goldback notes
Nevada goldback notes were the second series produced. According to the team:
One of the early investors in Goldback was Mark Voelker. He advocated strongly for Nevada to be the second series and he staked some of his own money on the project. The people of Nevada can thank him for getting this series going.
Nevada goldback notes have the following designs:
- 1 – Caritas (Charity)
- 5 – Sophia (Wisdom)
- 10 – Justitia (Justice)
- 25 – Fortitudine (Fortitude)
- 50 – Libertas (Liberty)
New Hampshire goldback currency
Here’s what the goldback team has to say about the New Hampshire series:
It may be a wonder to some that New Hampshire wasn’t the first State with their own Goldback. A group of Liberterians that has decided to stay anonymous with the Free State Project helped kickstart this series. This series has a Revolutionary War theme that we are particularly proud of. New Hampshire was released in 2021 but it was being produced in 2020 so there are Goldbacks in this series with the 2020 date.
The American Revolutionary-era inspired artwork is as follows:
- 1 – Gratia (Grace)
- 5 – Veritas (Truth)
- 10 – Prospicientia (Foresight)
- 25 – Fortitudine (Fortitude)
- 50 – Libertas (Liberty)
Source: https://t-tees.com
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