Silver does the same thing and it's way cheaper to buy. It's also "fractional". If goldbacks get closer to the actual price of gold with a more modest and realistic premium then yes it would be the way to go at least as a currency.

@afvro75 I'd love to agree with you, but I can't. I've carried and have tried to spend silver for 20+ years. People don't get it. I've moved thousands of goldbacks in the past 13/m. IMO, people don't understand the Goldback at all, especially anyone who worries about premiums.

You're out of your mind. Crypto currency is the future of money. Gold will soon enough be a part of crypto

​@@danielbbq I don't claim to be an expert on goldbucks although I bought 100 of them out curiosity more than anything else which cost me close to $500 btw and they look pretty cool I must say. However, the problem I see is even thought they have a "suggested" exhange rate, the few businesses that take them (for what I've seen so far) take them at basically the price that they feel comfortable with (which is usually way less than the suggested exchange rate). In other words, they don't follow the exchange rate necessarily so there's no consistency in the price. I'd be ok with a (bid and ask) price with minimum spread as in with precious metals or just follow the exchange rate to the tee. Also, getting back to the premiums for example I don't care about high premiums if you can sell them for almost or at as much high premiums consistently as you bought them but like I said, that's no the case. Since you claim to have dealt with thousands of goldbacks in the past few months maybe you can enlighten us on what I've just have said and more if you like.

Absolutely 💯 💯 people don't see it though

Exactly what I've been saying. But you're way better at it than I am. You've said in one paragraph what takes me ten.

Why? You need 50lbs just to have anything. Who wants to store all of that? You obviously. Buy gold. Or platinum if you cant afford gold. I refuse to haul around hundreds of pounds of silver. just to make a few dollars.

@@HappyHermitt Agreed. Trying to convince that vendor that your 1963 silver dime is real silver and worth $2 rather than ten cents might be a challenge...

Theyre double the price of their own weight in hold. That's not difficult. Gold buyers watch premiums. They want tge most gold for their money. GBs don't give you that. I own 2 sets just because they're cool. Theyre not smart investments for the investor is all.

@@HappyHermitt for the purpose of amassing the largest quantity of four-nines-fine gold as possible and then sitting on it for wealth preservation, buying bullion for as close to spot as possible is the way to go. Just be careful your stash is not infested with counterfeits and that it's location is secret and well secured. You will then have almost twice as much in physical quantity of gold as you would have had if you'd instead bought goldbacks. If the dollar remains somewhat useful (ie: has not been rendered useless by complete economic collapse) you could then later on decide to exchange some of that gold for dollars if needed for immediate purchases. But if hyperinflation has rendered the dollar useful only as burn-barrel fuel you could use your bullion to buy goldbacks (which, along with your bullion hyper-inflated right alongside all other tangible goods) to take advantage of the utility, fungibility and small-purchase power of those goldbacks - benefits that bullion does not offer on anywhere near the same scale of convenience. Bullion is for stacking. Goldbacks are for spending. Are goldbacks good for investment? Certainly - when you consider that (as long as you buy them from the lower-priced sources like Alpine Gold, Defy the Grid and others) they have actually outpaced gold bullion in increased exchange value since 2019. It's just that in order to retain the value of your goldbacks you must resist the urge to melt them down for the gold contained therein. Such a move would kill almost 50% of their value and steal all of their utility.

@@HappyHermitt I think the premium is actually normal for such a tiny fraction of gold. 1/1000th premium is way more than the premium of making a 1/10th coin or a 1/20th even, check the premium on one of those.

Found the goldback CEO

@@HappyHermitt Both stacking gold bullion and stocking up on goldbacks have their pros and cons. Is your goal to preserve a vast quantity of wealth that can someday be converted to the currency of the day? In that case bullion -particularly in the form of large bars - will give you the largest quantity of gold per dollar spent. It's not fungible in the strict sense, and you can't really use it for small purchases. But it WILL preserve large quantities of wealth. But do you want to have an every-day currency that cannot be counterfeited, is easily carried, privately spent, is completely fungible, can be used to buy small purchases like a sandwich, coffee or ammo and that's also inflation-proof? This is where goldbacks shine. Best of all? that enormous premium (almost 100% if buying from the lowest-priced suppliers like Alpine Gold or Defy The Grid) you pay to buy goldbacks vs. billion is immediately recoverable (and then some, since the daily exchange rate can be 3 to 5% more than what you paid for them) when spent. That relatively high premium not only covers the cost to manufacture while still providing a profit margin for goldback retailers, it also gives you the buyer the utility of being able to spend it like cash while getting your premium back. Hard to do that with bullion - even if you carry around a small file and a gram scale, and can convince vendors who might somehow be willing to play ball that it's real 24K gold.

The point is to make commodity $ more widespread and usable for general transactions. The elimination of gold has made the value of labor superfluous and essentially in a SHTF scenario worthless. Read Marx, fiat isn’t $ as defined for the previous like 5000 years of human history. Yeah, sure it has been real for us for like 50-80 years now, but they are laundering their own credit and creating value out of thin air. Value has to be produced and be backed by something more than debt. Yeah, put your investments into bullion, but divest a portion of your disposable cash into goldbacks as it becomes popular. Bitcoin, which is actually fictitious currency, had the same critiques 10-15 years ago, it’s worth $63k right now. Which it acts like digital gold today and will continue to appreciate in value unless the dollar becomes deflationary (not happening with the current uniparty dictating policy in the USA) I’m not saying Goldbacks are the future, but I find it extremely hard to think in today’s day with so much uncertainty that this won’t catch on like wildfire and spread to at least 30 other states in the next 5-8 years. No way it won’t unless we magically get our shit together as a nation (again, highly unlikely without serious intervention on monetary policy)

How are they illegal ?

@@derrickjohnson4952 read the constitution

I swear. Some people have no brains.

​@@derrickjohnson4952Ignore the delusional. They are why this society is falling apart.

Well it's obvious, that the state supreme courts of Utah,Nevada,Wyoming, South Dakota, and New Hampshire, found a way that it was constitutional, Jackwad!!! Gold and silver monetization by means of recognizing precious metal coin constitutes a Constitutionally reserved state power. The Utah Supreme Court has similarly observed: “The clause 8 [U.S. Const. Art. I Sec. 10] is not a directive to the states to deal only in gold or silver coin; rather, it is simply a restriction on states establishing any legal tender other than gold or silver coins.” 9 Acting within the boundaries of their reserved powers, the states have broad discretion. Exercising its constitutionally reserved powers is exactly what is accomplished by the Specie Legal Tender Act, which reads in pertinent part as follows: Subject to Subsection 59-1-1502(3), as used in this part, “specie legal tender” means gold or silver coin that is issued by the United States. 10 (3) Gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is considered to be specie legal tender and is legal tender in the state if: (a) a court of competent jurisdiction issues a final, unappealable judgment or order determining that the state may recognize the gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, as legal tender in the state; 11 Or, in its simplest form: “Gold...coin or bullion...is legal tender in the state if...a court of competent jurisdiction issues a final, unappealable judgment or order determining that the state may recognize the gold or silver coin or bullion...as legal tender in the state.” (Ibid.) In adopting this language, the legislature essentially agreed to recognize as legal tender whatever the Utah Courts may deem proper. Fortunately, as of the adoption of the SLTA, the Utah Supreme Court had already spoken on this subject.

Whos marked?

Nightmare tales for sheep

Take a look at the featured businesses on the Goldback site. Lots of businesses accept them, especially in Utah where they have been in circulation the longest. I stack, lease, and vault my Goldbacks and I wish I could buy more than I already do.

I accept them in my business and I'm in Hawaii.

​@@kivie13he's just a unknowing slave working & trading for nothing but a piece of paper that is loan to him. ! Have traded more in silver in 2 out of the last 3 years in silver then ¡ have in US treasury notes! because ¡ don't use Federal Reserve notes anymore, it enslaves everyone that uses them, title 12 USC 411 make your demand for a love for money and it throws the debt, taking it out of the hands of the Federal Reserve Bank and putting in hands of the United States Treasury!

​ purchase more things in the last 3 years with silver, then I have with United States Treasury notes and don't use Federer banknotes. Pursuant Title 12 USC 411 make your demand for lawful money

​@@charlieabel1533 We just went to Hawaii. I wish I would have known