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Goldbacks, anyone?

Pedalpusher

Pedalpusher

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Curious if anyone has researched or has invested in.

IMG_0707.jpeg
 
Although this info, and exposure is essential to the economic path ahead, it's being censored wherever possible.
Wait for it...
 
Sorry, some gal with a big set and a pitch fork just does not inspire me to had over my hard earned cash.
One thing I have wondered ?? Say you have a bar of gold from some dealer.
Can you just stroll in any federal regulated bank and cash it in ?
If not how do you cash it in ???
 
1967coronet said:
Sorry, some gal with a big set and a pitch fork just does not inspire me to had over my hard earned cash.
One thing I have wondered ?? Say you have a bar of gold from some dealer.
Can you just stroll in any federal regulated bank and cash it in ?
If not how do you cash it in ???
Click to expand...
simple ........ you don't "cash it in"......... Especially At A Bank . They Are Mostly Regulated By The FED & As A Result Are Doing Business In That Realm.........When Was The Last Time You Did What YOU INFERRED? Yeah A Day After Never..........You Can Sell It At Current Market Price To A Second Hand Dealer / Pawn Shop For Cash IF you So Desire......... simple...........
AND
IF YOU Bought The Product From A Dealer Usually They Will Advise You Of Their BUYBACK Program............Again ........simple.........

Forrest Gump Nailed It Didn't He..................
 
1967coronet said:
Sorry, some gal with a big set and a pitch fork just does not inspire me to had over my hard earned cash.
One thing I have wondered ?? Say you have a bar of gold from some dealer.
Can you just stroll in any federal regulated bank and cash it in ?
If not how do you cash it in ???
Click to expand...
:cursin:
 
APMEX was giving one away with every order recently. I got 3 for free. They are 1/4000 of an ounce so worth about $1. APMEX was selling the recently for around $2. They come in a variety of weights.

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In recent years, a unique form of voluntary currency has emerged in the United States: Goldbacks. These thin, gold-infused notes, combine the intrinsic value of 24-karat gold with the practicality of paper money.

Designed for local use and backed by real gold, Goldbacks have gained traction in specific states, known as “Goldback states,” where they are either issued or increasingly accepted. This article explores the states with Goldback series, their history, legal status, and the growing appeal of this alternative currency, optimized for search engines with key insights and an authoritative resource.

What Are Goldbacks?​

Goldbacks are flexible notes made by embedding .999 fine gold between layers of durable polyester, produced using advanced vacuum deposition technology by Valaurum, a private mint. Each note contains a precise amount of gold, ranging from 1/1000th of an ounce (1 Goldback) to 1/20th of an ounce (50 Goldback). Available in denominations of 1, 5, 10, 25, and 50, Goldbacks are designed for small transactions, making gold a viable medium of exchange.

Unlike fiat currency, which relies on government backing, Goldbacks derive their value from their gold content, offering a hedge against inflation. They are not federally recognized legal tender but operate as voluntary currencies in states where businesses and individuals choose to accept them.

The Goldback States: Where Are They Issued?​

As of early 2025, six states have their own Goldback series, each with unique designs reflecting local culture and heritage. These “Goldback states” are:

  1. Utah: The pioneer of Goldbacks, Utah launched its series in 2019 following the state’s 2011 Legal Tender Act, which recognized gold and silver as legal tender. Utah Goldbacks feature virtues like Prudence and Liberty, with over 600 businesses accepting them by 2025.
  2. Nevada: Introduced in 2020, Nevada Goldbacks highlight the state’s mining history, with designs like Caritas (Charity) and Justitia (Justice). Their adoption aligns with Nevada’s gold-rich economy.
  3. New Hampshire: Launched in 2021, New Hampshire Goldbacks resonate with the libertarian Free State Project, featuring Fortitude and Liberty. They’ve seen widespread use in local trade.
  4. Wyoming: Debuting in 2022, Wyoming Goldbacks celebrate the state’s pioneer and Native American heritage, with figures like Reverentia (Reverence) and Audentia (Boldness). Nearly 40 businesses accept them.
  5. South Dakota: Introduced in 2023, South Dakota Goldbacks showcase historical landmarks and values, gaining traction among local merchants.
  6. Florida: The newest addition, announced in October 2024 and released on January 15, 2025, Florida Goldbacks introduce new denominations (1/2, 2, and 100) and reflect the state’s diverse natural and cultural heritage.
These states represent the current lineup of Goldback series, with more potentially on the horizon as interest grows.

Why These States?​

Goldback states share common traits that make them ideal for this currency experiment:

  • Legislative Support: States like Utah, Wyoming, and Arizona (a potential future candidate) have laws favoring precious metals as legal tender or exempting them from sales tax.
  • Cultural Alignment: Many Goldback states have communities interested in sound money principles, economic independence, or libertarian ideals, such as New Hampshire’s Free State Project.
  • Proximity: Several Goldback states (Utah, Nevada, Wyoming) are geographically close, facilitating regional adoption.
Posts on X highlight growing interest, with users speculating about future states like Idaho, Indiana, or Texas based on legislative trends and precious metal enthusiasm.

Legal Status in Goldback States​

Goldbacks are not legal tender under federal law but operate as voluntary currencies. In Utah, the 2011 Legal Tender Act and 2022 House Bill 268 bolster their use by recognizing gold as a medium of exchange and exempting Goldback sales from state taxes. Other Goldback states lack explicit Goldback-specific laws but benefit from broader precious metal-friendly policies. For example:

  • Nevada: No specific Goldback law, but its gold-producing status supports adoption.
  • Wyoming: Recognizes gold and silver as legal tender, aligning with Goldback use.
Businesses in these states voluntarily accept Goldbacks, treating them as barter items or gold products with intrinsic value.

The Value and Appeal of Goldbacks​

Goldbacks’ value is tied to gold’s spot price, fluctuating with market conditions. In early 2025, with gold at approximately $2,000 per ounce, a 1 Goldback (1/1000 oz) has a base value of $2, though retail prices often range from $4-$5 due to production and collectibility premiums.

Their appeal lies in:

  • Inflation Resistance: Unlike fiat currency, Goldbacks retain value through gold.
  • Portability and Divisibility: Easier to use than gold coins or bars for small purchases.
  • Collectibility: Artistic designs make them popular among numismatists.
In Goldback states, they’re used for everything from buying candy to paying landscapers, fostering local economies independent of federal monetary systems.

The Future of Goldback States​

With over 8 million Goldbacks produced and 450,000 users by 2025 (per Goldback, Inc.), the movement is expanding. Goldback, Inc. has hinted at plans to introduce series in additional states, potentially every U.S. state by 2030, if production and demand align. States like Idaho (delayed from 2024), Arizona (with recent gold-friendly legislation), and Indiana (considering legal tender bills) are frequently mentioned as candidates.

This growth reflects a broader “sound money” movement, challenging fiat currency dominance amid economic uncertainty. As more states adopt Goldbacks, they could reshape local commerce and investment landscapes.

Conclusion​

Goldback states—Utah, Nevada, New Hampshire, Wyoming, South Dakota, and Florida—represent a pioneering effort to reintroduce gold-backed currency into everyday life. Blending practicality, artistry, and economic resilience, Goldbacks offer a unique alternative for residents, collectors, and investors.
 
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Think about a gold based currency where the gold is actually in the money. Totally different than the face value of the currency being redeemable in gold. If the price of gold goes up then the price of goods go down, or visa versa. If you have a $1 goldback and it’s worth $1 in gold then it’s a 1 for 1 exchange for a good costing $1. But if your $1 goldback is now worth $2 because the price of gold went up then that same $1 good should now be worth $0.50. This would actually result in deflation. It would run the Khazarian money changers out of business.
 
dodgeboy440 said:
simple ........ you don't "cash it in"......... Especially At A Bank . They Are Mostly Regulated By The FED & As A Result Are Doing Business In That Realm.........When Was The Last Time You Did What YOU INFERRED? Yeah A Day After Never..........You Can Sell It At Current Market Price To A Second Hand Dealer / Pawn Shop For Cash IF you So Desire......... simple...........
AND
IF YOU Bought The Product From A Dealer Usually They Will Advise You Of Their BUYBACK Program............Again ........simple.........

Forrest Gump Nailed It Didn't He..................
Click to expand...
So you just take your hard earned invested savings you have put into gold to your local pawn shop ? Well that sounds legit.
Also , correct... I've never owned gold outside of my crowns or wedding band lol.
Yep I learn something new each day.
I do understand gold buying and selling is simular to stock trading, just was not sure were a guy that has a gold stash ect or those cute little bond looking deals with the pitch fork gal goes to cash in.
Did gold coins at one time not come from banks after they were minted ?
 
There are a number of websites you can buy and sell gold. Apmex, Kitco and others. There is a spread between what they sell for and what they buy for. That margin is their operating capitol. If you want to make money you have to wait til the increase exceeds that margin. If you chose to do business with a coin or pawn shop its the wild west. You can get instant cash or make instant purchases with no wait, shipping or insurance. Sometimes you can get a great deal if they need to free up cash or have a hot buyer for what you are selling. ALWAYS comparison shop.
 
cr8crshr - Bill said:
It's just Paper!!! No thanks, as I want the real stuff I can physically hold. Gold and Silver Bullion and not some paper certificate...Just me, I suppose...cr8crshr/Bill :usflag: :usflag: :usflag:
Click to expand...

Um no, it’s not just paper. It is real gold.

RR Fan Dan said:
Goldbacks are flexible notes made by embedding .999 fine gold between layers of durable polyester, produced using advanced vacuum deposition technology by Valaurum, a private mint. Each note contains a precise amount of gold, ranging from 1/1000th of an ounce (1 Goldback) to 1/20th of an ounce (50 Goldback). Available in denominations of 1, 5, 10, 25, and 50, Goldbacks are designed for small transactions, making gold a viable medium of exchange.
Click to expand...
 
So it's backed in gold....by the state?

You could theoretically take it to a state agency and receive the "one dollar" value in gold?

What does Goldbacks, INC get?
 
YY1 said:
So it's backed in gold....by the state?

You could theoretically take it to a state agency and receive the "one dollar" value in gold?

What does Goldbacks, INC get?
Click to expand...
It is gold. It’s not backed by gold. See post #8
 
Is it foil?
 
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