@@user-yf4gx4rf8hI woulda done great if I started the same back in 2005! 😂🎉❤ man was it cheap 😢 see a lot of 40+yo men wearing gold chains that today prob are about 10k$ now that likely were 2-3k those days especially when money was flying around in the economy.
@Mr10Residentevilfan I got a few of each but if I’m stacking for weight I tend to go with 1 ducats. they are my favorite I put them in A23 airtight capsules and 9 of them fit in a half dollar tube. Filling a tube is satisfying
@Mr10Residentevilfan have you tried Hero Bullion? They have the cheapest ones I can find. About 3.50$ vs 5+ at other places. Not an endorsement lol just where I get mine.
@Mr10Residentevilfan yeah for sure, glad to help! They're smaller and new, so premiums aren't as high. I've gotten three orders from them already. Best of luck!
@@ryanleclaire3948if I understand it well enough you’re paying that higher premium for the value of the work done to turn that gold into the usable money that it now is!
I think the main challenge is educating and informing the general public about why this idea is sound and better than the global fiat money system...mitigates construed inflation...prevents hyperinflation...stabilizes the money/currency...etc...the general public is so conditioned into funny money and it's use as tools for transaction that I think is your main hurdle...
Do you have access to micro colored gems, gemstone artists , intaglio designers, etc? Why not merge money, tool of exchange , and a work of fine art together as one and one that can appreciate in value and be an attractive option for high value exchange ?
As a business owner, I am accepting Goldbacks, but not crypto. I own a tech company. I am not a fan of crypto, however, this avenue is much better than the fiat currency. We, The People have options. Thank you for this.
As long the seller(general) believes that the value of the goldback is what it is on their official website the actual premium is more like ~4% depending on the website/seller(precious metals) you are buying from.
@@leviashby6888Here in Toronto Canada there’s a shop selling a set of Nevada gold backs for the exact exchange rate as what’s listed on the goldback website.
@@leviashby6888 where/how are you getting that... just look at a site selling Goldbacks... 1/1000 troy ounce goldback is $5.03. That prices a troy ounce of gold at $5,030 (1000x5.03). Save with the 1/200th troy ounce goldback which is $25.14, which comes out to $5,028 (200X25.14) per troy ounce. So you are paying over 100% premium.
I think both could become popular instruments of payment again, and agree that getting at least a few Goldbacks for the artwork is a fun reason to collect them.
The prototype Silverbacks are beautiful. I hope they make them in larger fractions of an ounce to make them more valuable though, because as you say, 1/1000 ounce of silver is currently worth only about $0.02.
@@GoldbackInc I’m from Florida and I’m buying I’m teaching the people around me what they are and my friend takes them at his food truck. Hope they come out with a Florida Goldback soon
Fantastic! Very nice to see and hear how the production process works and verifies that the bills actually contain the stated amount of gold. They look amazing as well.
Coins and bars are heavier to carry around and the sound they make clinking together could alert dishonest people to the fact that you are carrying around a fairly large amount of "cash".
Yeah but who wants to carry around valuable coins everywhere?? For me, I absolutely HATE having heavy coins clinking around in my pockets... I've literally just left regular change behind sometimes just so I can avoid the hassle... and that's just the cheap non-gold/silver ones, imagine having to worry about carrying around valuable silver coins everywhere. I'd much rather have a few of these thin, light goldback bills in my pocket
Hello. In 2020, I handed Goldbacks out to kids and their family on Halloween. I handed out over $2000 worth. People loved it. It was in Pottsville PA. It was the first time I did it. I plan on doing it again this year in Atlas PA, I’m going to try to do at least $1,776 worth. These things are so beautiful and gorgeous, they are worth every penny. I want all of these. And this is what our currency should look like and I want everyone to have them too. Semper Fidelis
As a person living very quietly in seclusion, I feel like I have an edge over others and absolutely no one has a clue that I own such finery. I was taught that only the wealthy can own Precious metals. , WRONG
My problem with Goldbacks is the price; I ordered 20, 1/1000 of an ounce notes which means by the spot price of gold today, they are actually worth about $1.83, each. I paid $93.19 for the twenty and shipping, which comes out to about $4.65 per note. I could make up that loss if gold goes up to $5,000.00/ounce, right?
Check the value of gold back on the goldback website. Apparently the manufacturing cost also determines how much a gold back is worth along with how much gold is inside of the gold back. So 1.83 would be the weight + the manufacturing cost would be the total of one goldback.
@@undeadaeon9992 Exactly! There is added value in making these into bills in usable denominations that are also very difficult to counterfeit. The spot price of gold does influence the value of them, but the added value from production is a more stable variable.
@@undeadaeon9992my thoughts exactly, you would have to be out of your mind to buy any but spending them as actual currency would even bend you over farther.
Silver Dragons is a great metals channel for those unfamiliar with this RUclipsr. I’m surprised GB didn’t link him in the description. At any rate, great product! I have a few. I just wish I lived in a state where I could spend them.
Ummmmmm am i the only one who thinks this guys sound exactly like silverdragons 🤔🤔🤔 i have watched almsot all of his vids an oddly enough i watched silverdragons goldbacks vid today an this popped up lol
@@evanstowers8529 Quite possibly. Either way, it’s cool they picked someone from the community to help promote their product. I think I’ve seen a couple other RUclipsrs recently talking about them as well.
Well, i studied hard amd bought 225 gold backs the other day. I have mostbof them by shopping wisely for the best rates. Im very happy with my goldbacks.
This is going to be better than Bitcoin . This really is sound money, it's gold. It's much more stable than bitcoin and it's really worth its weight in gold. What a great idea 💡
There's only 1 problem with goldbacks. And that is the %100 premium. Two things have to happen to make these useful. 1- They have to be out there, people need to buy them. 2- a major event has to happen that puts these in circulation. At that point the price of gold will surpass the premium and make sense to use them as day to day currency. The major hoarders of these will be the bank now (not the current banks), the employers, and business partners.
I like them Obviously the gold value won't be diluted but what happens when competitors hit the market and premiums go down Could be devastating to the investment
If I was looking for an investment, I would get coins or bars of gold or silver. I'm getting goldbacks to spend at companies that accept them. The way it is right now, you can purchase goldbacks at a little bit of a discount to what they are valued at (currently $3.94). When I last checked, one of the companies selling goldbacks is selling them at $3.63 which is about an 8% discount on the trading price of the goldbacks. I know that there are a few local businesses that take goldbacks, so I will take my goldbacks purchased at that 8% discount and spend them at these businesses, maybe take my wife out for dinner at one of the restaurants or something. This helps expose more people to it and gets it circulating. And I get an 8% discount on anything I buy with them in the here and now. I'll still keep some aside the same I would cash or savings, but these are meant to be used and traded. We accept them at our office (I work with a chiropractor) and I hope more businesses will start accepting them as well.
I Love your product. How do I covert a 1oz Gold Coin and in return get 1oz of Goldback? You can't. So technology has too catch up IMO. also the premiums continue even after multiple hand change. Unlike Gold & Silver coins in PRE 1930's USA. The premium was part of the manufacturing process and when in circulation the coins were traded at face value . Hey I still Love this product. It will get better and better
It costs money to split an ounce of gold into a thousand separate pieces. It isn't reasonable to expect the process to cost the same as minting a single gold coin. Going as small a 1/1,000th used to carry an 800% premium and we can do it for around 100%. No one is getting ripped off here unless you are planning on melting them down, then by all means, buy bars. If you own gold for barter though then Goldbacks are king.
@@GoldbackInc No one is getting ripped off I AGREE! I simply am stating that as time goes on and technology increases the Goldback will be made with even lower premiums. I simply stated that before the FED the USA used Silver and Gold coins and it was very economical. IMO a good government would work with your company and Make Goldbacks part of their sovereign currency. IMO Gold & Silver in the hands of We The People is better than in the hands of a few who call themselves a Treasury. We The People should be "The Treasury". Goldbacks are a way to accomplish that goal. So sorry you though I was being critical. I am not Jesus said The worker is worthy of his wage. If you want Gold& Silver cheaper than spot then go to the mountains and get it yourself , IMO.
The Philosopher's Stone. In 1980, gold was successfully made by a team of scientists at the Lawrence Berkeley National Laboratory in Berkeley, California. Nuclear chemists Glenn T. Seaborg, David J. Morrissey and Walter D. Loveland used a high energy nuclear particle accelerator known as the Bevalac which transformed the metal bismuth into gold. The process is known as "Chrysopoeia".
Yes. This is the most useful kind of gold for saving and stacking IMHO. This is because it has an exchange rate value instead of a buy-sell spread or "premium". Because Goldbacks are money in a way that gold bullion isn't, you are more likely to retain your full value when you stack Goldbacks.
No!!! These are not for stacking... The premiums that you would accrue to get one single ounce would be almost double the price of just buying an ounce outright...When these can't even be exchanged without going to a coin shop just like silver or gold.... Silver does the same as this without the INCREDIBLY high premiums.. these are great for gifts or something like that. They are cool and a great idea but the idea isn't capable of doing what it wants to do at the moment. If you want that fractional gold to be in smaller denominations, then go get 1 gram or half gram bars etc .. these are too expensive
And TEXAS …..I guess we have to pass a law for that first here in TEXAS: is that right? I recently bought some after hearing about them from Jim Rickards. They came in 8 days in great packaging from Alpine Gold. No preference but I just started there . We need these in all STATES..
You could turn around and buy some whenever you got paid and pretend it came from your boss. lol. Probably don't do that with your whole paycheck until more businesses start accepting goldbacks though. I'm planning on getting some and using them at local restaurants that I know already accept them.
If you hold a small-denomination GB up to a strong light, like direct sunlight, it will shine through with a peculiar blue-green color. The spectrum of that light is diagnostic for gold.
They’re going to have to circulate more before premiums on them come down. Right now you’d pay double or more than the actual price of gold, so gold would have to double to break even on your purchase. I understand that the producer of them have to make money, but I’m wondering if it’s possible to purchase straight from the producer in any amount, as it would lower the premium significantly and increase the volume of circulation and use.
Currently - if buying from Alpine Gold or from Defy The Grid - you'll pay around $3.70 US for one goldback. This btw represents a loss for the goldback manufacturer on the one goldback note because it costs more to produce than the processing and the gold contained therein, but a gain for the manufacturer on larger denominations. At current spot price for gold that goldback contains about $2 worth of 24K gold. Other precious metal dealers (or worse, independent speculators on Ebay with dollars signs in their eyes) charge more. Sometimes MUCH more. Avoid buying from them. But here's the kicker: When you spend that goldback it's valued at around $4, give or take a few cents. (yes, you can actually come out AHEAD when spending goldbacks. Try that with fiat currency, which has no built-in hedge against inflation). Further (via a UPMA account in your name) you have the option of trading your goldbacks for other forms (coins, rounds, bars, etc.) that are bought at a lower percentage above spot price than goldbacks are. You essentially are then trading small-denomination-spendability for over-all value. This would be more suitable for large-value purchases over $2000. As you mentioned, gold will have to (almost) double in value to get your initial investment back - if you're stacking goldbacks rather than coins or bars. But in a faltering or slow economy the values of precious metals increases. And in a collapsed economy - where hyper-inflation is the going trend - guess what hyper-inflates right along with it? That's right: Gold. Meanwhile fiat currency's value is reduced to that of placing it into a burn barrel and setting it in fire - where it's useful for warming your hands for almost seven seconds. Incidentally, if you lose your goldbacks in a fire they're no longer worth $4 each. They're only worth half that amount at current spot. In this scenario you have lost money on goldbacks because you're left with only their melt value. But if you do this with fiat currency you have nothing left - except maybe a pair of warm hands. Finally, goldbacks can work as a near-perfect black market currency for the "canceled". Why? Because gold is gold - regardless of which state or jurisdiction is printed on its face.
Why is that? You only need to look up the current exchange value of Goldbacks to dollars to calculate the equivalent price of a good or service in Golbacks. The $1 Golback notes are worth more like $5 U.S. Federal Reserve Note, so just divide the price of something priced in U.S. dollars by five to determine the approximate price in Goldback "dollars".
@@brushstroke3733 That's fine & dandy if you intend to use now but if you are stacking for SHTF then the premium would be lost when you actually needed to use them.
@@commoguru Sure, but if SHTF, and people are willing to exchange their precious food, water, and other rescources for pieces of metal, I'm sure I won't care much about the premiums I paid for it in what by then would be a defunct currency. And I'd be glad to have small denominations to trade as not every purchase would be worth an ounce of silver or more. But you go ahead and do you, guru.
@@brushstroke3733 True but having to pay 2x what it's worth to get it in that form makes it not worth it, better off using silver coins for small purchases at that point. $3500+/- is a bit more than I can afford to pay for an ounce of gold when I can get a 1oz coin for $2000+/-. Convenience isn't worth $1500
@@commoguru Good arguments, all valid. Still, when you start buying silver coins in fractions of an ounce to use as small denominations, the ratio of premium to spot price also rises considerably to the point where they become comparable to Goldbacks. (Most 1/2 ounce silver coins go for about 2x spot price, about the same as Goldbacks.) Constitutional (junk) silver might be another case, and would likely be the best option for someone stacking for SHTF scenarios wanting small denominations. Besides, my initial comment that you commented on said nothing about stacking Goldbacks for SHTF scenarios. My initial comment indicated how they can be used now by those who wish to subvert the supremacy of the central banks and their so-called reserve notes. They're also beautiful works of art for paper currency collectors. So why exactly are you barking up my tree?
Great idea but with the premium and the inability to be liquid without going to a coin shop or something similar it's pointless. What can these do that silver can't? Without the extreme high premiums
Goldbacks are liquid anywhere Gold is accepted as payment which is about half of small businesses when talking to the owner. The point with Goldbacks, unlike coins, isn't to turn them back into fiat. You should see our video comparing Goldbacks to Mercury dimes, you may really enjoy it. m.ruclips.net/video/qoccUalZXQE/видео.html Regarding the premiums on Goldbacks, no one has ever been able to split an ounce of gold into a thousand virtually uncounterfeitable pieces for anywhere near the cost that we can. We are very proud of how low our premiums are.
@@GoldbackInc I get your point. But it's just not there yet to make it worth the extra extra premiums right now... Your losing money when the whole point to to preserve money right?
@@YourMajesty100 Do you believe that products can't be worth more than their raw materials despite how much labor is added? For example, do you buy cars for their melt value? Do you check the price of steel per ton when you purchase a knife? If you ignore the economic law of material having a higher value as labor is added then sure, don't purchase Goldbacks.
@@GoldbackInc do I buy a currency that is worth less then the currency I spent to buy said currency? Lol no! I spend around 6$ to only get around 3 to 4 bucks of spending power? Nah man I'm good. That defeats the entire purpose of buying gold... Silver can do much more then these bills can sorry but ya.. it's true.. the premium is too high to make these work effectively
@@YourMajesty100 You are absolutely right. If you are paying $6 per Goldback and they are worth $4 then you are paying too much and that defeats the point. We recommend shopping around so you don't overpay.
I have seen a few different videos of people melting these down and refining them and they have shown that the amount of gold stated is in fact contained in each of these goldbacks. I would accept them as gold for barter without hesitation
I was researching information on Utah and the gold currency that legislature has approved of for buying and selling. And this video just prove it since Utah is the name of the state of this gold back. 😂
FYI, there are videos on youtube that show it is ridiculously difficult to extract the gold from Goldbacks. This is better that bitcoin, but not by much.
Heyo! This is a nice vid, but I'd have appreciated some more hands-on testing of the goldbacks (e.g. melting them down, x-ray spectroscopy, some electron microscope images of the crystaline structure, and so on) to make for a video more entertaining than a sales pitch from an exec of the company. Yknow, taking a lesson from that body armor corp that filmed their CEO being shot, and put your product through a merciless test.
LOVE IT , LOVE IT , forget paper banking control trash money , we should not ever get into having bank accounts, credit cards , checks and all that garbage again
You can just cut tiny bits of the sides and end up with free gold right? This is what happened before with gold coins before they made the ribbed corners.
I like the idea, but people that are stacking these are making a huge mistake. The premiums are crazy. What's the total price for the 1 oz of goldbacks?
The Goldback® is the world’s smallest mass produced bullion product we know of, with each unit being one thousandth of an ounce of gold. Naturally, splitting a single ounce of gold into a thousand separate, uniquely serialized pieces, costs money in terms of production, labor, and distribution. An ounce of gold in Goldback form has significantly greater utility than a single one-ounce gold coin, which you can’t spend a thousand times, like the same amount of Goldback gold. So what is a fair premium for such a level of added utility? According to our research, up until 2019, the market would have put about a ~200% - 800% premium on a near one thousandth of an ounce gold product. The Goldback regularly trades at around 100% above spot which is an unprecedented value in the fractional gold space. We are very proud to offer gold currency at such a competitive exchange rate!
Pro's Con"s: Con's: much higher premium above spot. Pro's: if the dollar keeps diving, buying now will cancel out the current premium. They are inexpensive to buy in terms of buying a few. How much did you spend on food and booze this past weekend or on a sporting event? If the dollar collapses, you will be glad you bought some. Why are Utah, Nevada and NH authorizing these? They are not fiat.
That stack of Goldbacks has me drooling. Well done.
Right?
oppose the digital dollar!
@@filmaker256 yes sir!
yooooo i was salivating like…. i needs them! il del enough silver to grab some if ive got too…
Right! And I purchased my first today and it’s so pretty
I accept the Goldback at my website design and marketing business that I started 20 years ago. It has been a great business decision.
Good to know!.. company name?
I feel like you would have done as good or better if you accepted .9999 gold in general.
Bullshit!
@@user-yf4gx4rf8hI woulda done great if I started the same back in 2005! 😂🎉❤ man was it cheap 😢 see a lot of 40+yo men wearing gold chains that today prob are about 10k$ now that likely were 2-3k those days especially when money was flying around in the economy.
Wait holdbacks have only been around for like 10 years if that
I would love to see these as everyday currency.
@Mr10Residentevilfan I got a few of each but if I’m stacking for weight I tend to go with 1 ducats. they are my favorite I put them in A23 airtight capsules and 9 of them fit in a half dollar tube. Filling a tube is satisfying
@Mr10Residentevilfan affordable but their premiums are high.
@Mr10Residentevilfan have you tried Hero Bullion? They have the cheapest ones I can find. About 3.50$ vs 5+ at other places. Not an endorsement lol just where I get mine.
@Mr10Residentevilfan yeah for sure, glad to help! They're smaller and new, so premiums aren't as high. I've gotten three orders from them already. Best of luck!
@@ryanleclaire3948if I understand it well enough you’re paying that higher premium for the value of the work done to turn that gold into the usable money that it now is!
Thank you Goldback! I hope your business is doing better and better and more states follow suit. We need products like this to get popular!
I'm amazed at how many gold and silver coin shops I go to and they never even heard of Gold backs.
I think the main challenge is educating and informing the general public about why this idea is sound and better than the global fiat money system...mitigates construed inflation...prevents hyperinflation...stabilizes the money/currency...etc...the general public is so conditioned into funny money and it's use as tools for transaction that I think is your main hurdle...
You are probably right.
@@GoldbackInc how about a work of fine art bill with precious stones and metals?
A work of fine art bill that can appreciate in value and can be used as a tool for transaction?
Merging money , a tool of exchange, and fine art?
Do you have access to micro colored gems, gemstone artists , intaglio designers, etc? Why not merge money, tool of exchange , and a work of fine art together as one and one that can appreciate in value and be an attractive option for high value exchange ?
As a business owner, I am accepting Goldbacks, but not crypto. I own a tech company.
I am not a fan of crypto, however, this avenue is much better than the fiat currency. We, The People have options.
Thank you for this.
Good thinking there!
The huge premium stops goldbacks from being anything more than a novelty item.
Wait until we have a complete economic collapse.
As long the seller(general) believes that the value of the goldback is what it is on their official website the actual premium is more like ~4% depending on the website/seller(precious metals) you are buying from.
@@leviashby6888Here in Toronto Canada there’s a shop selling a set of Nevada gold backs for the exact exchange rate as what’s listed on the goldback website.
@@leviashby6888 where/how are you getting that... just look at a site selling Goldbacks... 1/1000 troy ounce goldback is $5.03. That prices a troy ounce of gold at $5,030 (1000x5.03). Save with the 1/200th troy ounce goldback which is $25.14, which comes out to $5,028 (200X25.14) per troy ounce. So you are paying over 100% premium.
They are very pretty to look at. That said for smaller bartering I will use silver. I think I would still get some gold backs for the art 🎨
People would prefer this over silver coins
I think both could become popular instruments of payment again, and agree that getting at least a few Goldbacks for the artwork is a fun reason to collect them.
Just bought my first nevada goldbacks from the atm at Mr Bill's pipe and tobacco in Las Vegas on Flamingo and Arville. Seamless!
I just bought me some goldback, can't wait to get them in the mail!
Just ordered myself a few & I'm pretty excited about it. Super cool idea
We need to use this massively
We need to put you in prison.
This is awesome. Just ordered a bunch. Love this idea. 👌🏻👌🏻
Would love to see Texas, Pennsylvania, and Florida goldbacks. Even Silverbacks are worth a shot too I think... ;-)
Silver ones would be sweet, but the premium would be outrageous. Not saying that would stop me buying a few.
The prototype Silverbacks are beautiful. I hope they make them in larger fractions of an ounce to make them more valuable though, because as you say, 1/1000 ounce of silver is currently worth only about $0.02.
With El Salvador going all in on Bitcoin, it would be awesome if Honduras or Guatemala went all in on Goldbacks ;)
now thats an idea...
Americans doing something good for El Salvador instead of screwing them.
Fantastic stuff. I really hope these catch on. Cheers y'all
Thanks so much for the support!
@@GoldbackInc @ Silver dragons 🐉 my guy you are a lucky man to have 1 oz worth of gold backs
@@GoldbackInc I’m from Florida and I’m buying I’m teaching the people around me what they are and my friend takes them at his food truck. Hope they come out with a Florida Goldback soon
Love buying these. I buy at least one every time I place a order for silver and gold
Honestly good idea, I need to start doing that
Same.
Fantastic! Very nice to see and hear how the production process works and verifies that the bills actually contain the stated amount of gold. They look amazing as well.
I hope Arizona passes similar laws.
For smaller denominations just use silver coins instead of goldbacks
something tells me people would prefer goldbacks instead of silver coins that looks just like everyday coins. no sexy appeal there.
100% these do nothing that silver can't do and with a REALLY REALLY HIGH premium
@@epianguiano7880 to tell the difference, clink the silver together, the noise is very different if theyre 100% silver
Coins and bars are heavier to carry around and the sound they make clinking together could alert dishonest people to the fact that you are carrying around a fairly large amount of "cash".
Yeah but who wants to carry around valuable coins everywhere?? For me, I absolutely HATE having heavy coins clinking around in my pockets... I've literally just left regular change behind sometimes just so I can avoid the hassle... and that's just the cheap non-gold/silver ones, imagine having to worry about carrying around valuable silver coins everywhere. I'd much rather have a few of these thin, light goldback bills in my pocket
Alaska needs a Gold Back issue ... I need to start finding some fellow investors ....
Hello. In 2020, I handed Goldbacks out to kids and their family on Halloween. I handed out over $2000 worth. People loved it. It was in Pottsville PA. It was the first time I did it. I plan on doing it again this year in Atlas PA, I’m going to try to do at least $1,776 worth. These things are so beautiful and gorgeous, they are worth every penny. I want all of these. And this is what our currency should look like and I want everyone to have them too. Semper Fidelis
Love to hear the support. Thank you
Waited all year. Will be handing out gold backs this month !
Awesome, so what's your address? Lol
@@harleydad1975 I don’t keep them there son. Did I mention I’m a Marine sharpshooter ☺cheers
@@sethclayton-gf5fi I wasn't trying to rob you. I was just going to dress up in multiple costumes and keep knocking at your door. 😆 Have a great day!
💙 I recognized Silver Dragons instantly and thought I was on his channel for a second. 🤔
This was a very informative video🤓 and very well executed. 👍
You should really post a video showing the entire fire assay process. I think that would seal the deal for any doubters.
Excellent report 👍👍👍👍👍👍
Our small town in Arizona will be trading in goldbacks.
Awesome informational video!!!!
Thank you!
As a person living very quietly in seclusion, I feel like I have an edge over others and absolutely no one has a clue that I own such finery. I was taught that only the wealthy can own Precious metals. , WRONG
Hell yeah I would love to use this if places would accept it.
My problem with Goldbacks is the price; I ordered 20, 1/1000 of an ounce notes which means by the spot price of gold today, they are actually worth about $1.83, each. I paid $93.19 for the twenty and shipping, which comes out to about $4.65 per note. I could make up that loss if gold goes up to $5,000.00/ounce, right?
Check the value of gold back on the goldback website. Apparently the manufacturing cost also determines how much a gold back is worth along with how much gold is inside of the gold back. So 1.83 would be the weight + the manufacturing cost would be the total of one goldback.
@@undeadaeon9992 Exactly! There is added value in making these into bills in usable denominations that are also very difficult to counterfeit. The spot price of gold does influence the value of them, but the added value from production is a more stable variable.
@@brushstroke3733 this doesn’t seem feasible. Cool concept though.
@@InappropriateShorts What doesn't seem feasible? The bills are being made and used already.
@@undeadaeon9992my thoughts exactly, you would have to be out of your mind to buy any but spending them as actual currency would even bend you over farther.
Sreetips did a vid where he refined some goldbacks, and they came out right to what they were supposed to.
Silver Dragons is a great metals channel for those unfamiliar with this RUclipsr. I’m surprised GB didn’t link him in the description. At any rate, great product! I have a few. I just wish I lived in a state where I could spend them.
Ummmmmm am i the only one who thinks this guys sound exactly like silverdragons 🤔🤔🤔 i have watched almsot all of his vids an oddly enough i watched silverdragons goldbacks vid today an this popped up lol
@@azstacker1709 Yeah, it’s him.
Maybe they gave him some of those goldbacks! That's quite a few there!
@@evanstowers8529 Quite possibly. Either way, it’s cool they picked someone from the community to help promote their product. I think I’ve seen a couple other RUclipsrs recently talking about them as well.
2 is 1 was talking about them, I think SalivateMetals mentioned mentioned once or twice ass well.
Well, i studied hard amd bought 225 gold backs the other day. I have mostbof them by shopping wisely for the best rates.
Im very happy with my goldbacks.
This is going to be better than Bitcoin . This really is sound money, it's gold. It's much more stable than bitcoin and it's really worth its weight in gold. What a great idea 💡
They are beautiful! Very intelligent design.
Just got my first Goldbacks
Thank you!!!!!!!
I'm investing in gold backs before the dollar explodes!!!!
There's only 1 problem with goldbacks. And that is the %100 premium. Two things have to happen to make these useful. 1- They have to be out there, people need to buy them. 2- a major event has to happen that puts these in circulation. At that point the price of gold will surpass the premium and make sense to use them as day to day currency. The major hoarders of these will be the bank now (not the current banks), the employers, and business partners.
Just started my little gold back stack 😉
Great video
Thanks for watching!
Silver Dragons?
I'm so glad I'm not the only one who thought that this is SILVER DRAGONS
Is it Silver Dragons. He is running our RUclips channel for us.
I like them
Obviously the gold value won't be diluted
but what happens when competitors hit the market and premiums go down
Could be devastating to the investment
premiums may go down but inflation will never go down. its a wash.
If I was looking for an investment, I would get coins or bars of gold or silver. I'm getting goldbacks to spend at companies that accept them. The way it is right now, you can purchase goldbacks at a little bit of a discount to what they are valued at (currently $3.94). When I last checked, one of the companies selling goldbacks is selling them at $3.63 which is about an 8% discount on the trading price of the goldbacks. I know that there are a few local businesses that take goldbacks, so I will take my goldbacks purchased at that 8% discount and spend them at these businesses, maybe take my wife out for dinner at one of the restaurants or something. This helps expose more people to it and gets it circulating. And I get an 8% discount on anything I buy with them in the here and now. I'll still keep some aside the same I would cash or savings, but these are meant to be used and traded. We accept them at our office (I work with a chiropractor) and I hope more businesses will start accepting them as well.
Awesome video, I love the Goldbacks
Told you I would check it out SD. I also have Goldbacks in my stack.
Cool idea but mark up is to high. Once you figure out the cost it could be a game changer.
I'm sure Silver Dragons loved hearing his voice being used. He's pretty popular!
We are thrilled to have Silver Dragons running our RUclips channel for us.
Planning on buying some very soon
I never doubted them.
Silver Dragons! I like your videos. Glad to see you in a Goldback video
We accept goldbacks for firearm purchases. :-)
Dont broadcast your plans to "them"
Wouw..future of money
I Love your product. How do I covert a 1oz Gold Coin and in return get 1oz of Goldback? You can't. So technology has too catch up IMO. also the premiums continue even after multiple hand change. Unlike Gold & Silver coins in PRE 1930's USA. The premium was part of the manufacturing process and when in circulation the coins were traded at face value .
Hey I still Love this product. It will get better and better
It costs money to split an ounce of gold into a thousand separate pieces. It isn't reasonable to expect the process to cost the same as minting a single gold coin. Going as small a 1/1,000th used to carry an 800% premium and we can do it for around 100%. No one is getting ripped off here unless you are planning on melting them down, then by all means, buy bars. If you own gold for barter though then Goldbacks are king.
@@GoldbackInc No one is getting ripped off I AGREE! I simply am stating that as time goes on and technology increases the Goldback will be made with even lower premiums. I simply stated that before the FED the USA used Silver and Gold coins and it was very economical. IMO a good government would work with your company and Make Goldbacks part of their sovereign currency. IMO Gold & Silver in the hands of We The People is better than in the hands of a few who call themselves a Treasury. We The People should be "The Treasury". Goldbacks are a way to accomplish that goal.
So sorry you though I was being critical.
I am not
Jesus said The worker is worthy of his wage.
If you want Gold& Silver cheaper than spot then go to the mountains and get it yourself , IMO.
@@GoldbackInc exactly.
There legit....Accelerate it !
The Philosopher's Stone. In 1980, gold was successfully made by a team of scientists at the Lawrence Berkeley National Laboratory in Berkeley, California.
Nuclear chemists Glenn T. Seaborg, David J.
Morrissey and Walter D. Loveland used a high energy nuclear particle accelerator known as the Bevalac which transformed the metal bismuth into gold. The process is known as
"Chrysopoeia".
Very cool video, interesting as heck. LOVE THE IDEA!!
I just opened my UPMA account.
Awesome!
What’s UPMA?
I've been collecting Goldbacks for a while.
As a stacker should I really include gold backs?
Yes. This is the most useful kind of gold for saving and stacking IMHO. This is because it has an exchange rate value instead of a buy-sell spread or "premium". Because Goldbacks are money in a way that gold bullion isn't, you are more likely to retain your full value when you stack Goldbacks.
No!!! These are not for stacking... The premiums that you would accrue to get one single ounce would be almost double the price of just buying an ounce outright...When these can't even be exchanged without going to a coin shop just like silver or gold.... Silver does the same as this without the INCREDIBLY high premiums.. these are great for gifts or something like that. They are cool and a great idea but the idea isn't capable of doing what it wants to do at the moment. If you want that fractional gold to be in smaller denominations, then go get 1 gram or half gram bars etc
.. these are too expensive
@@YourMajesty100 Ya, didn't care for them from the start.
@@YourMajesty100 Yes, currently these are only good as gifts or souvenirs.
Will an idea like this if popularized and used stabilize money and mitigate inflation...
I'm very interested to hear how Silver Dragons is connected to Goldback Inc.
Kickbacks.
@busterbiloxi3833 I bet he made a couple bucks. But that's pretty easy to just say.
Hey SD, I live in Canada. What is the best company to buy from that will ship internationally? Thanks in advance.
These things are gorgeous!
What about CALIFORNIA? PLEASE!!
Im get some of those!!!
This is amazing!!!
And TEXAS …..I guess we have to pass a law for that first here in TEXAS: is that right? I recently bought some after hearing about them from Jim Rickards. They came in 8 days in great packaging from Alpine Gold. No preference but I just started there . We need these in all STATES..
This is cool ❤️
Genius! And gorgeous designs ❤
I wish we got paid in gold backs
You could turn around and buy some whenever you got paid and pretend it came from your boss. lol. Probably don't do that with your whole paycheck until more businesses start accepting goldbacks though. I'm planning on getting some and using them at local restaurants that I know already accept them.
Sreetips just took 10 of the $50 1/20th ounce bills and turned them into a half ounce pure gold bar. So yeah, the 1/20th claim is accurate.
We saw! Amazing video!
@@GoldbackInc 👍
If you hold a small-denomination GB up to a strong light, like direct sunlight, it will shine through with a peculiar blue-green color. The spectrum of that light is diagnostic for gold.
Love Gold backs
They’re going to have to circulate more before premiums on them come down. Right now you’d pay double or more than the actual price of gold, so gold would have to double to break even on your purchase. I understand that the producer of them have to make money, but I’m wondering if it’s possible to purchase straight from the producer in any amount, as it would lower the premium significantly and increase the volume of circulation and use.
Currently - if buying from Alpine Gold or from Defy The Grid - you'll pay around $3.70 US for one goldback. This btw represents a loss for the goldback manufacturer on the one goldback note because it costs more to produce than the processing and the gold contained therein, but a gain for the manufacturer on larger denominations.
At current spot price for gold that goldback contains about $2 worth of 24K gold. Other precious metal dealers (or worse, independent speculators on Ebay with dollars signs in their eyes) charge more. Sometimes MUCH more. Avoid buying from them.
But here's the kicker: When you spend that goldback it's valued at around $4, give or take a few cents. (yes, you can actually come out AHEAD when spending goldbacks. Try that with fiat currency, which has no built-in hedge against inflation).
Further (via a UPMA account in your name) you have the option of trading your goldbacks for other forms (coins, rounds, bars, etc.) that are bought at a lower percentage above spot price than goldbacks are. You essentially are then trading small-denomination-spendability for over-all value. This would be more suitable for large-value purchases over $2000.
As you mentioned, gold will have to (almost) double in value to get your initial investment back - if you're stacking goldbacks rather than coins or bars. But in a faltering or slow economy the values of precious metals increases. And in a collapsed economy - where hyper-inflation is the going trend - guess what hyper-inflates right along with it? That's right: Gold. Meanwhile fiat currency's value is reduced to that of placing it into a burn barrel and setting it in fire - where it's useful for warming your hands for almost seven seconds.
Incidentally, if you lose your goldbacks in a fire they're no longer worth $4 each. They're only worth half that amount at current spot. In this scenario you have lost money on goldbacks because you're left with only their melt value. But if you do this with fiat currency you have nothing left - except maybe a pair of warm hands.
Finally, goldbacks can work as a near-perfect black market currency for the "canceled". Why? Because gold is gold - regardless of which state or jurisdiction is printed on its face.
Silver Dragon rocking the goldbacks
When are you guys going to make Some silver for the little guys and some palladium and platinum for the big boys
I hope there will be an ATM for this in Massachusetts
Awesome idea....problem solved
Pennsylvania needs Gold Backs! Attempt to lobby or reach out to state senator Doug Mastriano.
Not enough people know about these.
They sure look cool!
The markup on the goldbacks makes it impossible to use as a currency unless the buyer is willing to lose money.
Why is that? You only need to look up the current exchange value of Goldbacks to dollars to calculate the equivalent price of a good or service in Golbacks. The $1 Golback notes are worth more like $5 U.S. Federal Reserve Note, so just divide the price of something priced in U.S. dollars by five to determine the approximate price in Goldback "dollars".
@@brushstroke3733 That's fine & dandy if you intend to use now but if you are stacking for SHTF then the premium would be lost when you actually needed to use them.
@@commoguru Sure, but if SHTF, and people are willing to exchange their precious food, water, and other rescources for pieces of metal, I'm sure I won't care much about the premiums I paid for it in what by then would be a defunct currency. And I'd be glad to have small denominations to trade as not every purchase would be worth an ounce of silver or more. But you go ahead and do you, guru.
@@brushstroke3733 True but having to pay 2x what it's worth to get it in that form makes it not worth it, better off using silver coins for small purchases at that point. $3500+/- is a bit more than I can afford to pay for an ounce of gold when I can get a 1oz coin for $2000+/-. Convenience isn't worth $1500
@@commoguru Good arguments, all valid. Still, when you start buying silver coins in fractions of an ounce to use as small denominations, the ratio of premium to spot price also rises considerably to the point where they become comparable to Goldbacks. (Most 1/2 ounce silver coins go for about 2x spot price, about the same as Goldbacks.) Constitutional (junk) silver might be another case, and would likely be the best option for someone stacking for SHTF scenarios wanting small denominations.
Besides, my initial comment that you commented on said nothing about stacking Goldbacks for SHTF scenarios. My initial comment indicated how they can be used now by those who wish to subvert the supremacy of the central banks and their so-called reserve notes. They're also beautiful works of art for paper currency collectors. So why exactly are you barking up my tree?
Everything can be counterfeited. What can a buyer use to prove its not a fake??
They can read a serial number through the Goldback on the reverse side to check authenticity.
Great idea but with the premium and the inability to be liquid without going to a coin shop or something similar it's pointless. What can these do that silver can't? Without the extreme high premiums
Goldbacks are liquid anywhere Gold is accepted as payment which is about half of small businesses when talking to the owner. The point with Goldbacks, unlike coins, isn't to turn them back into fiat.
You should see our video comparing Goldbacks to Mercury dimes, you may really enjoy it.
m.ruclips.net/video/qoccUalZXQE/видео.html
Regarding the premiums on Goldbacks, no one has ever been able to split an ounce of gold into a thousand virtually uncounterfeitable pieces for anywhere near the cost that we can. We are very proud of how low our premiums are.
@@GoldbackInc I get your point. But it's just not there yet to make it worth the extra extra premiums right now... Your losing money when the whole point to to preserve money right?
@@YourMajesty100 Do you believe that products can't be worth more than their raw materials despite how much labor is added? For example, do you buy cars for their melt value? Do you check the price of steel per ton when you purchase a knife?
If you ignore the economic law of material having a higher value as labor is added then sure, don't purchase Goldbacks.
@@GoldbackInc do I buy a currency that is worth less then the currency I spent to buy said currency? Lol no! I spend around 6$ to only get around 3 to 4 bucks of spending power? Nah man I'm good. That defeats the entire purpose of buying gold... Silver can do much more then these bills can sorry but ya.. it's true.. the premium is too high to make these work effectively
@@YourMajesty100 You are absolutely right. If you are paying $6 per Goldback and they are worth $4 then you are paying too much and that defeats the point. We recommend shopping around so you don't overpay.
Is Alabama considering issuing Goldbacks. If not, what can I do to help get this going?
I have seen a few different videos of people melting these down and refining them and they have shown that the amount of gold stated is in fact contained in each of these goldbacks. I would accept them as gold for barter without hesitation
I was researching information on Utah and the gold currency that legislature has approved of for buying and selling. And this video just prove it since Utah is the name of the state of this gold back. 😂
FYI, there are videos on youtube that show it is ridiculously difficult to extract the gold from Goldbacks. This is better that bitcoin, but not by much.
Heyo!
This is a nice vid, but I'd have appreciated some more hands-on testing of the goldbacks (e.g. melting them down, x-ray spectroscopy, some electron microscope images of the crystaline structure, and so on) to make for a video more entertaining than a sales pitch from an exec of the company. Yknow, taking a lesson from that body armor corp that filmed their CEO being shot, and put your product through a merciless test.
LOVE IT , LOVE IT , forget paper banking control trash money , we should not ever get into having bank accounts, credit cards , checks and all that garbage again
China started making gold “beans” for people to purchase. I love the gold back Idea. I can slowly buy one or more if I have the extra cash.
Yes
so you want to use precious metals as currency?
the traditional copper-silver-gold has you covered.
Thank you Silver Dragon.
Big fan of Goldbacks. $100 to $200 every month.
Just wait...
You can just cut tiny bits of the sides and end up with free gold right? This is what happened before with gold coins before they made the ribbed corners.
I like the idea, but people that are stacking these are making a huge mistake. The premiums are crazy. What's the total price for the 1 oz of goldbacks?
The Goldback® is the world’s smallest mass produced bullion product we know of, with each unit being one thousandth of an ounce of gold. Naturally, splitting a single ounce of gold into a thousand separate, uniquely serialized pieces, costs money in terms of production, labor, and distribution.
An ounce of gold in Goldback form has significantly greater utility than a single one-ounce gold coin, which you can’t spend a thousand times, like the same amount of Goldback gold. So what is a fair premium for such a level of added utility? According to our research, up until 2019, the market would have put about a ~200% - 800% premium on a near one thousandth of an ounce gold product. The Goldback regularly trades at around 100% above spot which is an unprecedented value in the fractional gold space. We are very proud to offer gold currency at such a competitive exchange rate!
m.ruclips.net/video/OVMeLfoch1M/видео.html
Great idea , I'll buy some
Pro's Con"s: Con's: much higher premium above spot. Pro's: if the dollar keeps diving, buying now will cancel out the current premium. They are inexpensive to buy in terms of buying a few. How much did you spend on food and booze this past weekend or on a sporting event? If the dollar collapses, you will be glad you bought some. Why are Utah, Nevada and NH authorizing these? They are not fiat.
What tools do consumers use to confirm authenticity? Exchanging for products or services, how do I quickly confirm authenticity?