You really put that note through its paces. Well done. Awesome discussion on Goldbacks! I like what you said about a using PMs as collateral on loans. I'm a goldback fan as well.
Wonder if they would be more popular if they made them Credit Card size, but still thin. Could fit in a normal size wallet without having to folding them. Though the Artwork would suffer not having as large a canvas.
Part of the size was to keep the Goldbacks flexible like a note. When Jeremy was asked about different interviews, why there was no 100 gb, he gave two answers. 1) that they become so thick and large that they stop behaving as notes & 2) the fiat equivalent at the time would be ~$400, being unpractible for most day to day transactions.
I bought a lot of goldbacks in the last couple of months, with the plan that they would join my bartering 80% and 90% constitutional silver. I got a free one way back when and I also have about 3 grams of Valarum bills as well. To me they are an excellent addition to the stack.
I've had a goldback in my pocket ad a pocket piece for about a year myself, it's not in a goldback wallet or anything but it is contained in a folded wallet, not in as quite bad condition. I am appreciating your experiment - awesome to see how it's held up
Yours is the best real look at a used Goldback. I’m a fan of them now after doing my own searching and talking to some lcs’s out here. I think in the future they will become higher in Value especially by the edition like you said. I get the negative views on them but I’m in on them. Great video update 😎🤘✨
Well done and it held up well. I did try tearing one of my goldbacks. It just deformed a bit but did not tear and I was definitely using more force than I would on a dollar bill. Just as an fyi since you were talking about it, Jeremy mentioned it on one interview about the $100 bill costing 8 cents to make. That's a hell of a premium for something that suffers from inflation.
@@rhonascott3421 I'm not sure who delivers them to the UK. You might try asking on a couple channels there. 365 Days Of Silver or The Stack Collector should know. Maybe I should bring some over to London when I go
Who ever says they are not ment for stacking are forgetting. ITS GOLD. It still has its value in gold. They ate interchangeable. If you have 50,1 gold backs and exchange it for 1,50 gold back it is worth $253.00 right now. The cost of gold especially with these things being mass produced is going to make the value of gold increase due to supply and demand. That $253.00 could potentially increase to $280.00 it's almost a reverse inflation. The dollar is going to cost the same 1 dollar .the increase value of everything will still increase. This is due to landlords, gas prices, food prices. It's a vicious cycle. Once one goes up the rest goes up and it's constant back and forth it's not going to stop because humans are greedy. So once the world starts seeing the real value of these goldbacks. There's only a limited ammount of gold in the world. When these have to stop being produced due to consumer consumption they are gonna have to increase the gold backs cost in general to speed production and hire more employees to create more. So to who ever has some stacking is looking at $300.00 for 1,50 they are a constant value increase because yet again IT IS GOLD. Might not have it's melting value but it has its currency value for trade.
No there not meant for stacking ..its gold value is half the cost of the GB the other half is the premium of manufacturing marketing and profit margins ..
Correct! I wanted to replicate real world use like if you were a kid just cramming it in your pocket. I've been intentionally abusing it just to see how well it holds up.
The premium on a Goldback as compared to a gold coin is like buying a Porsche over a Datsun. One costs more, sure, but its style, speed, luxury, are all the things you can do with it above the simple ownership of the other. Can gold be spent? Can gold be leveled? Can gold be transferred digitally? Can gold be leased? Can gold be borrowed against? Can gold be collateral? Can gold be invested? Can gold be fungible? Can gold be expanded? Can gold be affordable? Can gold be tippable? Can gold be giftable? A Goldback can be.
Huh? what a bunch of nonsense gold and gold coins have been in use for 5thousand yrs ..the GB barely 5yrs style? completely subjective and furthermore ZERO to do with utility ...speed of what ? (can't wait to hear this..) luxury LOL more nonsense wording like a bad car commercial .. after that Word Salad you defiantly need to define spent?
@preciousmetals7114 To me, "spent" means that I can get out of the dying fiat as soon as I can and use in commerce, thus avoiding inflation and using dollars that I don't really own. I choose to deal in sound money everywhere I can. The Goldback allows me to do that. Of course, there is the Glint card or the Kinesis card that is similar.
Interesting video.They are a novelty item. They will remain so unless they were to become very widely/universally accepted in commerce in the U.S.. I am not driving to Montana, Wyoming, or Utah ,to one of the few establishments that accept them there, to buy a loaf of bread, a can of beans and a beer with my 'Goldbacks'. The fact that they vary widely in value depending upon which picture is on them and whether they were part of the first series or a later one, tells me they are more like a niche collectible poker chip, token, or sports card. These are for people looking for another hobby, and can afford to be frivolous with their discretionary income. By what process can the absolutely minute amount (couple of thousandths of an inch, if that?)of gold be recovered from the plastic film encasement? Can an average person hope to collect it/recover it? It's a rhetorical question, I'm pretty sure the answer is probably not. What chemicals or processes would be needed? Yep, definitely holds next to no appeal for me, mainly because I don't need another 'net zero monetary return' hobby to distract me from some more productive use of my time. So ,beyond maybe making a sturdy and attractive bookmark, I don't see these as particularly useful or desirable.
Sure at the cost of mailing it back and forth to the company and waiting for the shipping time both ways .. try selling them to any coin dealer all scratched up see why the utility is then .. unless you happen to live close to a distributer ..
In 1964 we had silver quarters and dimes! A quarter would buy a gallon of gas, a dime would buy a candy bar! Today, a silver quarter is worth $5 (a gallon of gas) And a silver dime is worth $2 (a candy bar)
@@WorldMoneyWins .25 X 20 = 5.00 So that means the dollar decreased by 20% right? Because silver weight of a quarter and the volume of a gallon didn't change! The dollar went down!
All processed gold costs way more than the value of the spot price. These arent for stacking, they are for day-to-day purchases. Its slow to adopt, but more and more places are taking them. Even businesses outside the member states aer starting to accept them. I like to be on the front end of trends, instead of following with the herd.
@@WorldMoneyWins, try spending one anywhere in Missouri. 1 goldback is 1/1000 ozt = $2.13. At Apmex that goldback costs $6.12. That’s not a premium. That’s an extremely expensive cost of production overhead. Premium to produce $2.13 of gold works out to about a nickel. There’s nothing about this that represents a good idea.
💯 w.m.w ! The one thing i have a hard ti.e getting around is making a sizeable amount of cash so i can buy a build to be the bank. I feel that is the trouble for most people who try and still co.e back to that hurdle. I need to perhaps find a self development class or something along them lines. Cause i want to be the bank and not have my kids go through the same as myself . For the most part they have been raised better than I was so that is worth a small fortune in itself. Thank you for the experiment viedo and the knowledge to think about how .
What people don't get is that the premium of the GB is part of its utility value and that value stays with the GB. Just like your perfectly good running vehicle is worth more than its junk or melt value because it still has utility. As far as stacking, I stack and vault GBs and they have kept up with inflation just fine. The key is having a UPMA account. With the UPMA I also lease my GBs and get a 2 percent APR paid in GBs.
Your email offered here wont go through, so, where do you store your gold with your credit card connected Iam looking for a place near Puget sound Wa. or what ever works with out the Gov confiscation
Do you know if, say, the places in Utah that accept the Utah goldbacks will accept the New Hampshire ones? (Because I assume they’re all standardized?)
@@WorldMoneyWins RUclips is useless. Keeps the comments open from when i was watching your video to the next video i was watching. Sorry, but somehow i'm not surprised. Probably their best efforts to thwart my posts. It was meant for another video.
@@urayys Ya, after I posted, I noticed there was a glitch on YT today. Never seen that happen before. Lots of people's comments were posted in the wrong videos! 😱
When you purchase Goldbacks you are purchasing them with greenbacks and all the inflation accrued up until the point of purchase .. half the cost of the goldback is the the actual Gold itself the other half is the manufacturing marketing and profit margins ... as the spot price or manufacturing marketing and profit margins change so does the price "utility" or premiums of the GB... if you were to get "melt value " you would only get roughly half the purchase amount in actual physical Gold and probably less then that due to purifying out of the polyester in the assay unlike 24k gold bullion which is pure ..
@@WorldMoneyWins Thats the issue when you can't treat it like a Goldback.. you either have to hold for weeks or months until the spot price rises back up to your purchasing price. its acting like bullion on its own .. their made for daily spending .. for those that purchased goldbacks when spot was at 2400+ and then the market fell by nearly a $100 a few days later .. you either a. spend it and lose money or B. hold it and wait which defeats the whole purpose of having them ..
gold backs? lol that's hilarious.....do you really think people are going to use this? Did you actually pay good money for it? It should say for fools only on it.
You really put that note through its paces. Well done. Awesome discussion on Goldbacks! I like what you said about a using PMs as collateral on loans. I'm a goldback fan as well.
Thanks man. I just try and pay as little taxes as legally possible. 🤣
I've had a goldback in my wallet for over a year and the gold has started to flack around the edges. Good thing is the company will replace them.
They are way more durable than paper money also.
I disagree the goldback looks like shit at this point, and again the gold has started to flake away around the edges....not good.
@kirbyvacuummadman1814 maybe they have improved since you bought that one.
It's been great watching these videos over the year. I can't believe it's been that long already. They really are more sturdy than I thought 👌
I think they would actually work better than our paper money. At least your Pound notes are more durable. Ours is like toilet paper LOL
Wonder if they would be more popular if they made them Credit Card size, but still thin. Could fit in a normal size wallet without having to folding them.
Though the Artwork would suffer not having as large a canvas.
Thats a good idea. I think a regular wallet would be much nicer on them.
Part of the size was to keep the Goldbacks flexible like a note. When Jeremy was asked about different interviews, why there was no 100 gb, he gave two answers. 1) that they become so thick and large that they stop behaving as notes & 2) the fiat equivalent at the time would be ~$400, being unpractible for most day to day transactions.
I bought a lot of goldbacks in the last couple of months, with the plan that they would join my bartering 80% and 90% constitutional silver. I got a free one way back when and I also have about 3 grams of Valarum bills as well. To me they are an excellent addition to the stack.
And they sure are beautiful too.
I've had a goldback in my pocket ad a pocket piece for about a year myself, it's not in a goldback wallet or anything but it is contained in a folded wallet, not in as quite bad condition. I am appreciating your experiment - awesome to see how it's held up
Thanks. I wanted to simulate "crackhead use"🤣
Yours is the best real look at a used Goldback. I’m a fan of them now after doing my own searching and talking to some lcs’s out here. I think in the future they will become higher in Value especially by the edition like you said. I get the negative views on them but I’m in on them. Great video update 😎🤘✨
Thanks man! I liked them as soon as I saw them. :-)
Thanks for the video! It held up better than I thought it would. 👍
Thanks!
Well done and it held up well. I did try tearing one of my goldbacks. It just deformed a bit but did not tear and I was definitely using more force than I would on a dollar bill.
Just as an fyi since you were talking about it, Jeremy mentioned it on one interview about the $100 bill costing 8 cents to make. That's a hell of a premium for something that suffers from inflation.
Thanks! I never knew the cost to make a sheet of cotton paper. MUCH higher premium
Wow that's cool! Very different. I like these little experiments. Thanks for sharing
Thank you! Cheers!
Where can I get these, I'm from uk
@@rhonascott3421 I'm not sure who delivers them to the UK. You might try asking on a couple channels there. 365 Days Of Silver or The Stack Collector should know.
Maybe I should bring some over to London when I go
@@WorldMoneyWins that would be great
Who ever says they are not ment for stacking are forgetting. ITS GOLD. It still has its value in gold. They ate interchangeable. If you have 50,1 gold backs and exchange it for 1,50 gold back it is worth $253.00 right now. The cost of gold especially with these things being mass produced is going to make the value of gold increase due to supply and demand. That $253.00 could potentially increase to $280.00 it's almost a reverse inflation. The dollar is going to cost the same 1 dollar .the increase value of everything will still increase. This is due to landlords, gas prices, food prices. It's a vicious cycle. Once one goes up the rest goes up and it's constant back and forth it's not going to stop because humans are greedy. So once the world starts seeing the real value of these goldbacks. There's only a limited ammount of gold in the world. When these have to stop being produced due to consumer consumption they are gonna have to increase the gold backs cost in general to speed production and hire more employees to create more. So to who ever has some stacking is looking at $300.00 for 1,50 they are a constant value increase because yet again IT IS GOLD. Might not have it's melting value but it has its currency value for trade.
Very good points!!
No there not meant for stacking ..its gold value is half the cost of the GB the other half is the premium of manufacturing marketing and profit margins ..
Great video! I've not seen one like this before. So, I don't HAVE to buy a GB Wallet?
Correct! I wanted to replicate real world use like if you were a kid just cramming it in your pocket. I've been intentionally abusing it just to see how well it holds up.
Thank you. I wanted to see how durable they are.
You're welcome! Many people think they are very fragile, but they are stronger than our paper dollars by far!
The premium on a Goldback as compared to a gold coin is like buying a Porsche over a Datsun. One costs more, sure, but its style, speed, luxury, are all the things you can do with it above the simple ownership of the other.
Can gold be spent?
Can gold be leveled?
Can gold be transferred digitally?
Can gold be leased?
Can gold be borrowed against?
Can gold be collateral?
Can gold be invested?
Can gold be fungible?
Can gold be expanded?
Can gold be affordable?
Can gold be tippable?
Can gold be giftable?
A Goldback can be.
Huh? what a bunch of nonsense gold and gold coins have been in use for 5thousand yrs ..the GB barely 5yrs style? completely subjective and furthermore ZERO to do with utility ...speed of what ? (can't wait to hear this..) luxury LOL more nonsense wording like a bad car commercial .. after that Word Salad you defiantly need to define spent?
@preciousmetals7114 To me, "spent" means that I can get out of the dying fiat as soon as I can and use in commerce, thus avoiding inflation and using dollars that I don't really own. I choose to deal in sound money everywhere I can. The Goldback allows me to do that.
Of course, there is the Glint card or the Kinesis card that is similar.
You have put that one to the test! 😮
May it Live Long and Prosper. (Or at least keep going up in value)LOL
Fingers crossed!
Your comment about the premium or señorage of the dollar was too good lmao 🤣
The paper dollar have the the WORST premium LOL
@@WorldMoneyWins Ironically you purchase Goldbacks with all that inflation and premium ..
Interesting video.They are a novelty item. They will remain so unless they were to become very widely/universally accepted in commerce in the U.S.. I am not driving to Montana, Wyoming, or Utah ,to one of the few establishments that accept them there, to buy a loaf of bread, a can of beans and a beer with my 'Goldbacks'. The fact that they vary widely in value depending upon which picture is on them and whether they were part of the first series or a later one, tells me they are more like a niche collectible poker chip, token, or sports card. These are for people looking for another hobby, and can afford to be frivolous with their discretionary income. By what process can the absolutely minute amount (couple of thousandths of an inch, if that?)of gold be recovered from the plastic film encasement? Can an average person hope to collect it/recover it? It's a rhetorical question, I'm pretty sure the answer is probably not. What chemicals or processes would be needed? Yep, definitely holds next to no appeal for me, mainly because I don't need another 'net zero monetary return' hobby to distract me from some more productive use of my time. So ,beyond maybe making a sturdy and attractive bookmark, I don't see these as particularly useful or desirable.
FYI: Goldback will replace any delaminated or damaged Goldback for a brand new one! Looks like you really beat this one up good! Haha
Its WAAAAY more durable than people think. :-)
I'll probably carry it forever.
Sure at the cost of mailing it back and forth to the company and waiting for the shipping time both ways .. try selling them to any coin dealer all scratched up see why the utility is then .. unless you happen to live close to a distributer ..
As a business owner I will 100% accept these!!
Same here.🙂
how about.. cash.. silver.. silver coin.. Gold coin or gold bullion ?
@@preciousmetals7114 Yes to all of them.😎
@@preciousmetals7114 yea I wouldn't turn down any of those.
In 1964 we had silver quarters and dimes!
A quarter would buy a gallon of gas, a dime would buy a candy bar!
Today, a silver quarter is worth $5 (a gallon of gas)
And a silver dime is worth $2
(a candy bar)
Absolutely! :-)
@@WorldMoneyWins the only thing that changed was the value of a dollar!
@@shanelewis617 You got that right. When you have a dollar that's backed by nothing, it eventually will revert to its true value...... Nothing
@@WorldMoneyWins
.25 X 20 = 5.00
So that means the dollar decreased by 20% right?
Because silver weight of a quarter and the volume of a gallon didn't change!
The dollar went down!
@@WorldMoneyWins the only thing that doesn't make sense to me is that gold went from $35 to $2,000
I can't explain that!
Thanks for the test.
My pleasure. I like to experiment and think about different things
The problem is that they cost way more than the value of the gold they contain and there are very few places where you can actually use them.
All processed gold costs way more than the value of the spot price. These arent for stacking, they are for day-to-day purchases. Its slow to adopt, but more and more places are taking them. Even businesses outside the member states aer starting to accept them. I like to be on the front end of trends, instead of following with the herd.
@@WorldMoneyWins, try spending one anywhere in Missouri. 1 goldback is 1/1000 ozt = $2.13. At Apmex that goldback costs $6.12. That’s not a premium. That’s an extremely expensive cost of production overhead. Premium to produce $2.13 of gold works out to about a nickel. There’s nothing about this that represents a good idea.
💯 w.m.w !
The one thing i have a hard ti.e getting around is making a sizeable amount of cash so i can buy a build to be the bank.
I feel that is the trouble for most people who try and still co.e back to that hurdle.
I need to perhaps find a self development class or something along them lines.
Cause i want to be the bank and not have my kids go through the same as myself .
For the most part they have been raised better than I was so that is worth a small fortune in itself.
Thank you for the experiment viedo and the knowledge to think about how .
What people don't get is that the premium of the GB is part of its utility value and that value stays with the GB. Just like your perfectly good running vehicle is worth more than its junk or melt value because it still has utility.
As far as stacking, I stack and vault GBs and they have kept up with inflation just fine. The key is having a UPMA account. With the UPMA I also lease my GBs and get a 2 percent APR paid in GBs.
Yeah, most people treat gold backs like bullion. They are currency. Not bullion.
I think if they shrunk it down to credit card size or similar, it would fit in wallets better and more people would be keen to try it.
Thats a good idea. :-)
It costs 8¢ to make a paper dollar, so that's a 1200% premium. But, just wait a couple decades, and the paper dollar will be worth 8¢ again.
Good point!
Would Florida accept these gold backs ????
There are some places that do, but since it isnt a member state, it is rare.... for now
Thank you for sacrificing a GB to show the durability. GBs have a purpose.
I think so too.
Your email offered here wont go through, so, where do you store your gold with your credit card connected Iam looking for a place near Puget sound Wa. or what ever works with out the Gov confiscation
I store mine in Switzerland. I dont know any good vaults in WA
Do you know if, say, the places in Utah that accept the Utah goldbacks will accept the New Hampshire ones? (Because I assume they’re all standardized?)
I'm assuming they do. There are businesses in Michigan that accept them even.
@@WorldMoneyWins excellent. Thanks
They are closer in concept to the state quarters. Use them anywhere they are accepted.
I did notice this but i think over time theyll fix this issue
Yeah, it's still early and it's development
did it get all bent and crappy?
I show it in the video.
Good going NDP - Matthew Green - Thinking that voting for the motion in French would obfuscate his decision to his voters. Why am I not surprised.
You lost me on that one.
@@WorldMoneyWins RUclips is useless. Keeps the comments open from when i was watching your video to the next video i was watching. Sorry, but somehow i'm not surprised. Probably their best efforts to thwart my posts. It was meant for another video.
@@urayys Ya, after I posted, I noticed there was a glitch on YT today. Never seen that happen before. Lots of people's comments were posted in the wrong videos! 😱
When you purchase Goldbacks you are purchasing them with greenbacks and all the inflation accrued up until the point of purchase .. half the cost of the goldback is the the actual Gold itself the other half is the manufacturing marketing and profit margins ... as the spot price or manufacturing marketing and profit margins change so does the price "utility" or premiums of the GB... if you were to get "melt value " you would only get roughly half the purchase amount in actual physical Gold and probably less then that due to purifying out of the polyester in the assay unlike 24k gold bullion which is pure ..
Yep. If you treat it like bullion, it's a horrible purchase.
@@WorldMoneyWins Thats the issue when you can't treat it like a Goldback.. you either have to hold for weeks or months until the spot price rises back up to your purchasing price. its acting like bullion on its own .. their made for daily spending .. for those that purchased goldbacks when spot was at 2400+ and then the market fell by nearly a $100 a few days later .. you either a. spend it and lose money or B. hold it and wait which defeats the whole purpose of having them ..
@@preciousmetals7114 I look at it the other way. The gold back value stays the same at all times. It's the value of the dollar that goes up and down.
@@WorldMoneyWins Umm ........... ok ...........I guess if your into losing money lol ... best of luck with that...
@@preciousmetals7114 No, just a different perception. I've been very successful throughout my life. Thanks for wishing me luck though. Same to you! 😁
Interesting experiment
Thank you! Cheers!
Buy phisical gold and silver, they will do more to you!!!
I do every week! :-)
no thx to goldbacks. you can keep them
I think I will. :-)
It was interesting to see how durable they are.
Are these edible?
Ya, there is chocolate inside.
gold backs? lol that's hilarious.....do you really think people are going to use this? Did you actually pay good money for it? It should say for fools only on it.
No, I paid BAD money for it. They should write that on the debt notes in your wallet.🤣
Are you joking. It’s gold. Much rather have a 1 goldback than a 1 dollar bill.
People Are using them.
FYI - I've done 100+ Goldback transactions with no loss to inflation, in fact they've increased in value 29% since I've started buying them.
As a business owner, I will accept goldbacks.