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.👍

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.

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 🤔

Hold onto them! The earlier ones with the original artwork have a numismatic value to them now.

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.

No. Just buy 1oz silver coins.

Gold need to go up at least 2x for you to just break even.

That's nice to know! 🙏

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 live in Nevada...GO WOLFPACK!!! Goldbacks rock!!!

I watched a video right here on KZfaq 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

Let's go

I know right?!

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.

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.

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.

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.

They will!

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.

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.

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.

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

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.

Interesting way to use Goldbacks..

what are the kids going to do with a goldback?

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

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

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.

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

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 your style.

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.

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.

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?

Then you return it for a non-yellow goldback. Or does that make it more golden? Hehehe.

Great question, I'll pass it along to the team

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

So would we!

love of money is the root of all evil. but you can repent by giving your goldbacks to jim bakker

what is a prescious metal. did you mean precocious metal

try selling one to find out

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 KZfaq that go into more detail about the security features of the GB.

Sree tips did a recovery vid.

I think it is

"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 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