A lot of us complain on the markup of the goldback, which is dependent on where you buy it. I'd rather support a system that's a little bit pricey then a system that is failing this country and by nature putting chains around my neck
Good point but without that system no other system in the world would even exist and we would all resort to barter. I love the glldbacks, but it's funny how stackers always make this argument whereas the exchange rate of gold itself is denoted in USD.. Faith based economies is what truly brought prosperity with them. Goldback understands this hence they are trying to get these things fungible.
@@deeptoot1453 And now normal people are buying gold bars at costco in the hundreds of millions. Can you say hyperinflation soon. Everybody knows the game is up, america is decaying and collapsing. The border is just the beginning
Goldbacks are the only way to stay independent. Study on what the government's are doing woth cbdc. Whatever states that have passed the law that allows gold and silver has currency. Bc the state doesnt have goldback yet doesnt mean they want. This is the true future think inventive been a visionary where the future is heading. I dont like none of this stuff either but im doing ehat it takes by the best morale standard to protect my butt!
They will take off because they already have, in niche communities. People will be surprised when a second country starts issuing them. IMO it's better to get them now rather than later. Time will tell.
the reason i think theyre cool is because ANYBODY can own atleast a bit of gold even if they are poor. Third world countries can never afford 1g of gold today but atleast with these they could own a little and thats why i like them.
My sentiments exactly. I missed out on bitcoin back in the day. I’d be crazy to miss out on goldbacks 😅. I’m late to the party but right on time! I just got my first set and will keep investing in them also. I can’t wait to see what happens in the next 10-20 years with goldbacks 🤑
I've thought the same thing. Because the dollar is so big and it's so well spread out it's going to have to be replaced eventually with something. I've often wondered if our government will steal this idea. Maybe BRICS will use something like this? At any rate the technology needs to be a little bit perfected because I hear the larger notes fray because of the large metal content in them and you can't bend them.
No state has ever adopted Goldbacks. Making this very flawed logic. They're entirely privately minited, taking advantage of vague state laws thar broadly declare gold and silver to be legal tender. Not one state has officially through legislation, administrative rules or executive order.
Exactly my thinking. I own a couple hundred of them just in case for barter because I truly believe in goldbacks. I want them to be the new system to replace the USD and I want to travel down to South Dakota, Wyoming or Utah from my state to spend them at real businesses. The premiums are too high for me to justify the cost to buy a full troy oz worth of them. I'd buy them in the thousands if they were $3 because I don't mind paying $3000/oz of gold. That extra $1.77 kills the stackability.
I think Goldbacks are a brilliant idea! Not only do they stay valuable, and now can make interest but there is no exchange rate between countries. The Nay sayers seem to think the process of melting Gold down is important but WHY would you need to do that?? These Goldbacks are perfect for stacking, easy to carry, just like paper currency.
The so called "premium" is a utility markup. If it's outrageous to you then feel free to create your own fractional gold with the same features and put them out of business
There are significant security features and the technology to make them is ridiculously expensive and near impossible to imitate. For that reason I’ll buy them at 3.79 ea all day long and exchange at 4.25 using the calculator 😊
I love the art on them and am getting 1 of each just for that. Also, it offers a bit of a diverse way to be exposed to gold. I am not dumping huge value into it, but figure a bit in it isn't bad.
Love them! As of a couple years ago, you can use them in certain stores in the southwest. They had a label on the door of the business letting you know if they accepted them. You can even sell them back to the company you buy them from.
I just bought my first goldbacks today, I bought 2 5's that cost me around 50 or 60 bucks, that includes shipping and taxes along with insurance from APMEX. I can't wait to receive them in the mail. I love watching your content, it teaches me a decent amount about precious metals. Keep up the good work👍
Me and my wife love them! I know they’re a little pricey but I think in a SHTF scenario they can be very useful. Also they’re very beautiful and if they don’t take off and they stop making them, the ones in circulation would be very valuable.
And shit can hit the fan at any moment. Internet/power goes out? You can't always use a card or any digital form of payment. Inflation gets out of control? You can't always rely on the stability of your nation's currency. I highly doubt a full-blown apocalypse will happen anytime soon, but natural disasters, pandemics, power outages, and other things happen all the time. I personally would rather be prepared in as many ways possible and have something I might not need, than need something I don't have. I like goldbacks and precious metals in general. Fun to collect different gold and silver coins, different pieces with cool designs ,and other things too. Goldbacks are the only way I've been able to afford gold in any meaningful way so far.
Yeah. I stack them. Better than a savings account. On average, as of today, I am up over 25% at a 2 year period of buying GBs. Would not be surprised to see $5 fiat per GB.
I’m actually in profit by buying these, currently they cost me 3.79 each. Using the current exchange rate of 4.25, I’m in profit for every single goldback purchased
The problem isn't that goldbacks aren't pretty. They're seriously pretty. The problem is that the premiums are outrageous. Look, if I'm getting ready for an economic apocalypse, I'm not going to buy pretties at outrageous prices. I'll buy gold Maple Leafs and silver. I don't have enough money for pretties.
I think the price of a new car at $40,000 is absolutely outrageous - especially considering that the spot value of all of that metal, plastic and rubber is only around $20,000. Screw the car manufacturers - I'm just gonna buy the raw materials instead and save myself twenty grand....
The spending power of 1 oz of Goldbacks is $4,280 today. I just traded 1028 Goldbacks for 2 - 1 oz Krugerrands. What most people don't know or understand about the Goldback is a lot!
@@Joutube_is_trash LOL collectible trading cards - kinda like referring to a business jet as "such a cute little flying machine". Nice try though. As for the point I believe you're trying to make, I guess that would depend on which function you wish your gold to serve. Wealth preservation on a massive scale, say, upwards of seven figures? Gold bars weighing several ounces (or even pounds) will certainly provide the best bang-for-buck and closest-to-spot pricing. But if you want to use your gold to spend on every-day goods and services you'll need utility, fungibility and anti-counterfeiting measures. Gold bars and coins don't meet any of the above three attributes very well, and some of the smallest gold bars (hello, karat-bars!) have higher premiums than the goldbacks but without the more-desirable exchange rates.
I recall that prior to WWII & Hitler assuming power, the German people would go to the banks & by pure gold leafs in stead of putting there small savings into failing banks, susceptible to gov confiscation or closure. So to me this could be more sustainable than buy bit coin which as we've seen is very susceptible to manipulation or outright theft. Sam the Bankman Fried
Goldbacks are good for divesting cash into denominations of gold that are manageable for transactions/daily use. Anyone complaining about premiums is an idiot. Yeah if you want to put $10k into gold, go buy bars or coins. If you want to turn $1000 of disposable cash that you don’t need right now, put it into gold backs. I think a good rule of thumb is, for every $1000 you would invest into gold, put $100 into goldbacks. That way you can actually buy groceries or pay for services if SHTF or if the government defaults on its debts.
I live on the border of NH and bought a stack of 100 of these to see if I can really spend them. So far, I'm one for one in being able to. Betting I will find lots of ways. My handyman already said he'd take partial payment in them.
The "price" & "premium" on metals in general has only one way to go and that's up. You might as well grab some goldbacks now while their relatively cheap.
No matter what kind of gold I've bought, I always felt like a fool...... for a while. I felt like a fool when I missed it at $400 an ounce, & later paid $800. I felt like a fool when I bought it at $1200. I especially felt like a fool when I bought it at $1400 an ounce, & then it dipped back to $1200 & sat there for what seemed like years! When I was really broke, I bought pay dirt, & everyone laughed & said you can't profit from THAT!!😂 Now I yearn for those old prices to buy more at!!
Just found your video. I like goldbacks I think they are super cool. Not necessarily as an alternative to gold and silver stacking but a nice addition to the precious metals space
What these goldbacks have over crypto imo, is you're not charged a fee to use your own money. The downside is you can't carry as much. However, the avoidance of being dependent on electricity and privacy keys gives it an edge at least to myself. Plus learning curve is next to nothing. Thus easier to adopt.
Didnt you call up stores that were supposed to accept them and the workers had no idea what you were talking about at half of them. Gold backs are stupid. Gold is not meant for small purchases that's what you use silver for.
Definitely keep your eyes on the Goldback. I've made several Goldbacks for silver deals and just did my first Goldbacks for ozs deal. Respectfully, What you think you know about the Goldback isn't 100% accurate. They are more powerful than you think.
well i am torn [1] the stack math is terrible - if they where closer to $2-3 be better but supply and demand is kicking in [2] acceptability - yes its plain as day but not every one knows about it or understands it despite videos like yours [3] the art is great and they are collectable year /marks/ condition [4] security - yeah its top notch security witch i love i can look at it and in like 5 secs be like yeah its real [5] fudgeable - yeah its a great feature and like you said sometimes the market dose not pan out to a great deal
Local coin shop has those 20oz 10oz and 5oz Scotsdale bars. Was going to grab a 20ozer until they told me the premium for “a bar” of silver about $6. Why? I bought a kilo bar for .70 over spot instead. “Sorry Charlie, adding weight not paying their bills”. Like the GBs ! Depends where you buy to get lower rates.
Nice collectible because of the artwork but useless as a replacement for money. 99.9% of businesses will never trust them and never accept them. To be fair, it's not just Goldbacks, businesses will never take any form of physical precious metals. They don't want the hassle of verifying the weight/purity and they don't want the hassles of storage/protection/insurance for metals at the local prem. Never mind the internal issues of employee theft. They don't even want to deal with cash never mind precious metals. Might be good for some backwater bartering but society in general has moved on to digital.
@@soundmoneyguy5949 I live in NH and goldbacks are a joke as money. A cool collectible, sure, but that's about it. The vast majority of transactions are electronic through either cc, debit, or digital wallet. Even cash is on the outs. Self checkouts are taking over and they are all electronic payment only. This will setup an easy slipnslide right into CBDC's.
It's so irrelevant to me. Silver already does everything this claims to do. It's a waist of gold and plastics, and a robbery with the premiums. Dumber things have taken off though
@zeus014 Considering my personal experience, I would be more skeptical of the backs. In general, I still think people would be more skeptical of the backs. Whatever works, works. I'm just saying silver already works in all the ways backs are claiming except, I never thought I'd type this, the premiums are lower
I am very much for ANY competing currencies being introduced into the marketplace. Although these should be legal tender produced by the Treasury at cost as a United States Note, per the Constitution. A couple things to make them more attractive would be figuring how to make them more robust to bending and flexing. Also they need a phone App conversion calculator.
Bro is really over here blindly promoting giving your gold to these people to gain "interest." Not realizing that's how we got in the messed up situation we're in today with trusting central banks with our gold... people never learn....
@SmartSilverStacker they're a centralized entity, and do you not believe they could eventually do the same things these central banks do? I am the type of person to trust ME and ONLY ME with MY WEALTH.
Hate is a very strong word. Why do you hate them? Me I won't buy them. I prefer to buy silver because I believe in the future it will be realized as far more valuable than gold. Buuuuuut the rich own the gold and will try really hard to keep its value higher. But we don't really nèed much gold for today's society. We NEED silver for it.
@@Jeffrey-p6l I like both because they are both scarce. No matter what anyone says digital gold is a fairy tale. I really like silver for it's utility and gold because it's gold.
seems like something you buy a few of for a currency collection, but it suffers from the problem that it is only traded in the USA and is still dependent on the dollar where gold bullion is a global traded commodity.
@@SmartSilverStacker let's say you fly to Europe with a pocket full of goldbacks you're not getting much if any euros also very little gold in each one, a pocket full of gold bullion doesn't matter where you are your able to exchange for local currency. I believe that is the definition of dollar dependent.
I think the leasing has potential to be extremely profitable. Earning and reinvesting goldbacks that could appreciate in value is like compounding on steroids.
I just hope competition from coins bars & hopefully other gold dollars bring the prices down a bit. From the last time I checked the ability to make something like goldbacks is copyrighted so less companies can do it.
I just found these yesterday but your video seems to push gold as an investment instead of a store of wealth. Big difference. Holding gold in your hand and not in a bank so you really own it is an advantage of gold. Gold going up in dollars is inflation protection against the fed stealing your wealth. Gold having value everywhere in the world for 2000 years is proof gold has solid value. These notes are a great gift and hopefully a good store of wealth for the future and maybe some value like a baseball card in the future. They are not proven money especially if there is not a consistent exchange rate. I appreciate your vid but in my opinion gets off track if you are pushing these as an alturnative to buy physical gold. That said, i just purchase 50 bucks worth as christmas gifts! :)
I'm a stacker. I understand goldbacks. I wont buy one. But I'm fine if people want to buy them and hope we use them in the future. But hey I got piles of junk dimes and quarters I'd be fine using as well.
I'd love to agree with you but in 20+ years of trying to spend silver I've had little success. I've sold more Goldbacks for silver in '23 that I've ever been able to spend silver in 20 years of trying. People get Goldbacks as money. Silver not as much, for now.
Some products come along and at first are seen as innovative. Like when Taurus introduced the judge. Then as time goes by people realize the performance and practicality is lacking and is only useful in a small number of circumstances. The judge, again as an example makes an excellent paperweight. Soon after the latest greatest innovation becomes a novelty or niche product. Why buy a judge when you can buy a kimber.
Sounds like you just described something that sounds like bitcoin a slow outdated innovation. Yet it keeps becoming more valuable because it's worth what people are willing to pay for it. I also like Kimber but prefer Sig.
Cost to buy a 24K one-ounce gold Buffalo coin: about $2150, or around $100 above spot price. Spending value of that one-oz coin: Spot price of gold, or around $2050. Good luck using it to buy gas or groceries though, and even more lucky if they can provide change. Cost to buy one ounce of 24K gold in the form of goldbacks, ie: 1000 goldbacks: $3960 if buying from Alpine Gold or Defy The Grid. (that's over 90% over spot! OMG!). Spending value of those 1000 goldbacks: $4280 at today's rate. That's a $320 profit that drops directly to my bottom line. And I can use them to buy a $4.28 latte. Or sandwich. Or use 15 of them to fill my car's gas tank. So tell me again why I should be concerned about the premiums.
The spending power of 1 oz of Goldbacks is $4,280 today. I just traded 1028 Goldbacks for 2 - 1 oz Krugerrands. What most people don't know or understand about the Goldback is a lot!
I like them as a concept, but feel like silver backs would function better but I refuse to ever buy the silver dragons silver backs because I cannot stand that guy or commie dragons 😂 im also generally not a fan of the gold backs old world style designs.
GoldBacks would be extremely difficult to counterfeit. The machines that are used to produce them cost millions of dollars, and to this day I've never seen a counterfeit Goldback, convincing or otherwise. Coins, bars, rounds are all relatively easy to copy, but it's much less of a concern with GoldBacks.
@SmartSilverStacker OK, but China has millions of dollars & is Counterfeiting gold as we text. They are not going to stop & I don't know of any way to stop they from trying. At least you can test the others.
They’re way too expensive! Most of them are more then twice the spot price of gold. They should be no more then 10 to 15% over spot ; that’s robbery! I wish, someone honest would produce those, also in silver!
It's petty obvious Goldback has a*small* vested interest in how they're valued. I wouldn't call their exchange rate table very credible. It's like making up your own numbers
Ridiculous way over the top cost & premiums vs pure bullion for the same product .. no way ... just figure out how many goldbacks it would take to equal 1oz bullion and see the price difference .. not even close ..
I agree with you 100% I dont normally comment but this was eatting at me. sure they look cool, and people with little money can get there hands on fractional gold.... but 97% upcharged premiums. You will never make that back. 1/10 oz gold coin only has on average 2-35% premiums a most and I thought that was steep but duable to at least get my hands on gold every week.
lol, goldbacks wont work out in the long term As Savings, they are horrible for stacking because of the high exchange rate (This is not the purpose of gold backs, but worth mentioning) As Currency, it is terrible. High exchange rate to obtain this. These are not very durable. Only will see widespread adoption or works during SHTF moments. I would rather spend money that is getting weaker and save the rest in sound money. You lose too much in premium to justify the goldback usage in normal everyday life.
? You don’t lose anything on the premium, unless u melt them, In which case you’re doing it wrong. You buy them and then spend them at the GB exchange rate. Not melt price
@@apt707nola oh name dropping, soo much respect, well whatever you learnt, it obviously failed to cover basic FX principles. The jones town reference is trite. Exactly how many GB = poison?
A lot of us complain on the markup of the goldback, which is dependent on where you buy it. I'd rather support a system that's a little bit pricey then a system that is failing this country and by nature putting chains around my neck
Good point but without that system no other system in the world would even exist and we would all resort to barter. I love the glldbacks, but it's funny how stackers always make this argument whereas the exchange rate of gold itself is denoted in USD..
Faith based economies is what truly brought prosperity with them. Goldback understands this hence they are trying to get these things fungible.
@@deeptoot1453 And now normal people are buying gold bars at costco in the hundreds of millions. Can you say hyperinflation soon. Everybody knows the game is up, america is decaying and collapsing. The border is just the beginning
It's the train everyone should be on, but they're going to be late for.
Goldbacks are the only way to stay independent. Study on what the government's are doing woth cbdc. Whatever states that have passed the law that allows gold and silver has currency. Bc the state doesnt have goldback yet doesnt mean they want. This is the true future think inventive been a visionary where the future is heading. I dont like none of this stuff either but im doing ehat it takes by the best morale standard to protect my butt!
Goldbacks are by far the most innovative Gold product in fifty years. I hope that they keep taking off!
They will take off because they already have, in niche communities. People will be surprised when a second country starts issuing them. IMO it's better to get them now rather than later. Time will tell.
I recognized the value of the goldback immediately and am buying as many as I can and there's no controversy here
smart!
the reason i think theyre cool is because ANYBODY can own atleast a bit of gold even if they are poor. Third world countries can never afford 1g of gold today but atleast with these they could own a little and thats why i like them.
Goldbacks are a gateway to gold. Get them started with $5 worth pretty soon they'll figure out how to get Ozs.
The goldback bands make me want more goldbacks.😁
Yep, I need more too.
@@SilverSteeler72 Ditto!
Goldbacks are the future of money security
I invest in them because people hate them. I wanted to invest in Bitcoin when everyone hated it and we all see how that has gone.
My sentiments exactly. I missed out on bitcoin back in the day. I’d be crazy to miss out on goldbacks 😅. I’m late to the party but right on time! I just got my first set and will keep investing in them also. I can’t wait to see what happens in the next 10-20 years with goldbacks 🤑
The Dollar is dying. The Goldback is the future of money.
Defythe Grid is a good place to get them
I think goldbacks are introducing us to the new actually backed by gold currency for the near future. IMO.
I've thought the same thing. Because the dollar is so big and it's so well spread out it's going to have to be replaced eventually with something. I've often wondered if our government will steal this idea. Maybe BRICS will use something like this? At any rate the technology needs to be a little bit perfected because I hear the larger notes fray because of the large metal content in them and you can't bend them.
@@amr8457 It might be better to find a way to make a durable fabric from gold wires instead of using foils.
If my state ever adopts goldbacks I'll adopt goldbacks. For now I'll stick to coins and bars.
No state has ever adopted Goldbacks. Making this very flawed logic. They're entirely privately minited, taking advantage of vague state laws thar broadly declare gold and silver to be legal tender. Not one state has officially through legislation, administrative rules or executive order.
Exactly my thinking. I own a couple hundred of them just in case for barter because I truly believe in goldbacks. I want them to be the new system to replace the USD and I want to travel down to South Dakota, Wyoming or Utah from my state to spend them at real businesses. The premiums are too high for me to justify the cost to buy a full troy oz worth of them.
I'd buy them in the thousands if they were $3 because I don't mind paying $3000/oz of gold. That extra $1.77 kills the stackability.
@@holyfenrir6336They are a currency worth their value in gold. Let that sink in. If you burn fiat, you get 🗣ash, and for gold backs, you get Au
I stack them. Ya never know.
I think Goldbacks are a brilliant idea! Not only do they stay valuable, and now can make interest but there is no exchange rate between countries. The Nay sayers seem to think the process of melting Gold down is important but WHY would you need to do that?? These Goldbacks are perfect for stacking, easy to carry, just like paper currency.
The so called "premium" is a utility markup. If it's outrageous to you then feel free to create your own fractional gold with the same features and put them out of business
Isn't the markup of copper pipe over spot price just absurd? Wait, nobody ever says that because it's dumb.
There are significant security features and the technology to make them is ridiculously expensive and near impossible to imitate. For that reason I’ll buy them at 3.79 ea all day long and exchange at 4.25 using the calculator 😊
@@jaykrizzle Why do people pay 3,000% premium on a beer or a coke? They are crazier than us Goldbackers!
I love the art on them and am getting 1 of each just for that. Also, it offers a bit of a diverse way to be exposed to gold. I am not dumping huge value into it, but figure a bit in it isn't bad.
Love them! As of a couple years ago, you can use them in certain stores in the southwest. They had a label on the door of the business letting you know if they accepted them. You can even sell them back to the company you buy them from.
I just bought my first goldbacks today, I bought 2 5's that cost me around 50 or 60 bucks, that includes shipping and taxes along with insurance from APMEX. I can't wait to receive them in the mail. I love watching your content, it teaches me a decent amount about precious metals. Keep up the good work👍
Nice work!
They are a piece of art love them
Me and my wife love them! I know they’re a little pricey but I think in a SHTF scenario they can be very useful. Also they’re very beautiful and if they don’t take off and they stop making them, the ones in circulation would be very valuable.
And shit can hit the fan at any moment.
Internet/power goes out? You can't always use a card or any digital form of payment.
Inflation gets out of control? You can't always rely on the stability of your nation's currency.
I highly doubt a full-blown apocalypse will happen anytime soon, but natural disasters, pandemics, power outages, and other things happen all the time.
I personally would rather be prepared in as many ways possible and have something I might not need, than need something I don't have.
I like goldbacks and precious metals in general. Fun to collect different gold and silver coins, different pieces with cool designs ,and other things too. Goldbacks are the only way I've been able to afford gold in any meaningful way so far.
I stack them also. I almost have 200 of them. I don't mind the premiums at all. You don't stack them now, you will regret it. Happy stacking.
Store Goldbacks? If you don't hold it you don't own it.
I like Goldbacks, can't wait for more states to adopt.
Yeah. I stack them. Better than a savings account. On average, as of today, I am up over 25% at a 2 year period of buying GBs. Would not be surprised to see $5 fiat per GB.
It melts down into gold , worst case melt it down into nuggets/coins and trade for fiat currency
I have goldbacks can't go wrong with them. The goldbacks will come in use I'm sure one day. REAL GOLD !
I appreciate your view on this. You have opened my eyes.
I buy junk silver instead, but to each his own!
I’m actually in profit by buying these, currently they cost me 3.79 each. Using the current exchange rate of 4.25, I’m in profit for every single goldback purchased
When you get them for 3.79???
@@SilverSteeler72 defy the grid
@@SilverSteeler72right
He lies
I bought them back in 2021, so definitely not a great return. But they do gain value. I’ve been watching closely.
Love goldbacks!! They make great book marks, and gifts to family and friends.
🎉🎉🎉🎉🎉great video!!!!
Sharing it to several folks!!!
Actually had this exact conversation at dinner tonight with family.❤
Definitely a good way to small bite your way into gold
The problem isn't that goldbacks aren't pretty. They're seriously pretty.
The problem is that the premiums are outrageous. Look, if I'm getting ready for an economic apocalypse, I'm not going to buy pretties at outrageous prices. I'll buy gold Maple Leafs and silver. I don't have enough money for pretties.
I think the price of a new car at $40,000 is absolutely outrageous - especially considering that the spot value of all of that metal, plastic and rubber is only around $20,000. Screw the car manufacturers - I'm just gonna buy the raw materials instead and save myself twenty grand....
The spending power of 1 oz of Goldbacks is $4,280 today. I just traded 1028 Goldbacks for 2 - 1 oz Krugerrands. What most people don't know or understand about the Goldback is a lot!
@@zeus014The issue is you don't need gold manufactured into a collectible trading card for it to serve its function.
@@Joutube_is_trash LOL collectible trading cards - kinda like referring to a business jet as "such a cute little flying machine". Nice try though.
As for the point I believe you're trying to make, I guess that would depend on which function you wish your gold to serve. Wealth preservation on a massive scale, say, upwards of seven figures? Gold bars weighing several ounces (or even pounds) will certainly provide the best bang-for-buck and closest-to-spot pricing.
But if you want to use your gold to spend on every-day goods and services you'll need utility, fungibility and anti-counterfeiting measures.
Gold bars and coins don't meet any of the above three attributes very well, and some of the smallest gold bars (hello, karat-bars!) have higher premiums than the goldbacks but without the more-desirable exchange rates.
Stack bars...collect this if you must but it's a strong No! For me
I recall that prior to WWII & Hitler assuming power, the German people would go to the banks & by pure gold leafs in stead of putting there small savings into failing banks, susceptible to gov confiscation or closure. So to me this could be more sustainable than buy bit coin which as we've seen is very susceptible to manipulation or outright theft. Sam the Bankman Fried
I think Goldbacks are great since so many people are addicted to cash. Might as well have the next best thing.
People complain about the premiums. 😅 Just buy them. Im going after a couple 25 's next week.
People complain about the premiums and cannot ignore them because they.........gotta pay rent and bills and don't have enough money.
People complain rather than research. They are misinformed as to what a Goldback can do.
@@Jeffrey-p6l true. I really can't afford the 25's. Just a little buster. I have to rent and bills too. Thanks to JB, no one can afford to live.
@@danielbbqA good investment. 👍
Goldbacks are good for divesting cash into denominations of gold that are manageable for transactions/daily use. Anyone complaining about premiums is an idiot. Yeah if you want to put $10k into gold, go buy bars or coins. If you want to turn $1000 of disposable cash that you don’t need right now, put it into gold backs.
I think a good rule of thumb is, for every $1000 you would invest into gold, put $100 into goldbacks. That way you can actually buy groceries or pay for services if SHTF or if the government defaults on its debts.
I live on the border of NH and bought a stack of 100 of these to see if I can really spend them. So far, I'm one for one in being able to. Betting I will find lots of ways. My handyman already said he'd take partial payment in them.
I have some they're good for exposure to gold when you're on a budget.
Great job trying to show how versatile the Goldback is. When a second country starts issuing a version won't we be surprised? Not.
I don't have a lot of them but why not? It's cheap gold. Gets people into stacking if nothing else. Not to mention this reason 1:17
When the premiums come down then we’ll talk about goldbacks. Still a cool gold product
It doesn't work that way. Get out of your old fashion way of thinking.
The "price" & "premium" on metals in general has only one way to go and that's up. You might as well grab some goldbacks now while their relatively cheap.
No matter what kind of gold I've bought, I always felt like a fool...... for a while. I felt like a fool when I missed it at $400 an ounce, & later paid $800. I felt like a fool when I bought it at $1200. I especially felt like a fool when I bought it at $1400 an ounce, & then it dipped back to $1200 & sat there for what seemed like years! When I was really broke, I bought pay dirt, & everyone laughed & said you can't profit from THAT!!😂 Now I yearn for those old prices to buy more at!!
This is these future of money
Love the idea, but 200% premium is not for me.
Just found your video. I like goldbacks I think they are super cool. Not necessarily as an alternative to gold and silver stacking but a nice addition to the precious metals space
What these goldbacks have over crypto imo, is you're not charged a fee to use your own money. The downside is you can't carry as much. However, the avoidance of being dependent on electricity and privacy keys gives it an edge at least to myself. Plus learning curve is next to nothing. Thus easier to adopt.
Thumb 👍👍👍👍👍👍👍👍👍👍👍 love them 😍😍😊🎉❤
Hero has the best price on gold backs
It's definitely a good foot in the door to get metals pathway paved a little bit state by state if they continue to be recognized as real money.
Didnt you call up stores that were supposed to accept them and the workers had no idea what you were talking about at half of them. Gold backs are stupid. Gold is not meant for small purchases that's what you use silver for.
where? do you purchase things with silver?
@@dustyc324 you clearly didn't understand my original comment.
I’m on a budget, I definitely can’t afford a ounce that way no thanks
Definitely keep your eyes on the Goldback. I've made several Goldbacks for silver deals and just did my first Goldbacks for ozs deal. Respectfully, What you think you know about the Goldback isn't 100% accurate. They are more powerful than you think.
Not a fan
love em
well i am torn [1] the stack math is terrible - if they where closer to $2-3 be better but supply and demand is kicking in [2] acceptability - yes its plain as day but not every one knows about it or understands it despite videos like yours [3] the art is great and they are collectable year /marks/ condition [4] security - yeah its top notch security witch i love i can look at it and in like 5 secs be like yeah its real [5] fudgeable - yeah its a great feature and like you said sometimes the market dose not pan out to a great deal
Local coin shop has those 20oz 10oz and 5oz Scotsdale bars. Was going to grab a 20ozer until they told me the premium for “a bar” of silver about $6. Why? I bought a kilo bar for .70 over spot instead. “Sorry Charlie, adding weight not paying their bills”. Like the GBs ! Depends where you buy to get lower rates.
Never seen these before I am new to stacking something else to buy
Are there silverbacks?
Yes. Collector piece as of now.
Nice collectible because of the artwork but useless as a replacement for money. 99.9% of businesses will never trust them and never accept them. To be fair, it's not just Goldbacks, businesses will never take any form of physical precious metals. They don't want the hassle of verifying the weight/purity and they don't want the hassles of storage/protection/insurance for metals at the local prem. Never mind the internal issues of employee theft. They don't even want to deal with cash never mind precious metals. Might be good for some backwater bartering but society in general has moved on to digital.
@scottsehm1661 The vast majority of transactions are already digital. Fedcoin is already in place. An easy road to CBDC's has been pre-paved.
I hate to break it to you but Goldbacks are 8x as popular as crypto in the States that Goldbacks are in. Business owners are accepting Goldbacks.
@@soundmoneyguy5949 I live in NH and goldbacks are a joke as money. A cool collectible, sure, but that's about it. The vast majority of transactions are electronic through either cc, debit, or digital wallet. Even cash is on the outs. Self checkouts are taking over and they are all electronic payment only. This will setup an easy slipnslide right into CBDC's.
I've moved 100s of Goldbacks and very few from accepting businesses. People get them as money IMO
It's so irrelevant to me. Silver already does everything this claims to do. It's a waist of gold and plastics, and a robbery with the premiums. Dumber things have taken off though
Not a waste of plastics! Oh hell no!
@@jaykrizzle We're heading into a hell because of waisted plastics. Little things make big differences
I'm gonna use my silver rounds to buy a few of your widgets. But are you absolutely CERTAIN these silvers I'm handing you are not counterfeit?
@zeus014 Considering my personal experience, I would be more skeptical of the backs. In general, I still think people would be more skeptical of the backs. Whatever works, works. I'm just saying silver already works in all the ways backs are claiming except, I never thought I'd type this, the premiums are lower
@@zeus014 I've done several Goldbacks for silver trades from reputable people and LCS
Where did you get the black ribbons?
It think they are cool, not my cup of tea but people don’t have to buy them & those who do can stack
I am very much for ANY competing currencies being introduced into the marketplace. Although these should be legal tender produced by the Treasury at cost as a United States Note, per the Constitution. A couple things to make them more attractive
would be figuring how to make them more robust to bending and flexing. Also they need a phone App conversion calculator.
Heck no to gold backs 90% is ten times better!
Bro is really over here blindly promoting giving your gold to these people to gain "interest." Not realizing that's how we got in the messed up situation we're in today with trusting central banks with our gold... people never learn....
There's nothing wrong with interest, in fact it's critical to a free market economy. The problem is when the central bank is setting the rate.
@SmartSilverStacker they're a centralized entity, and do you not believe they could eventually do the same things these central banks do? I am the type of person to trust ME and ONLY ME with MY WEALTH.
I HATE THEM & I'VE BEEN STACKIN SINCE 1986 !!!!!
Hate is a very strong word. Why do you hate them? Me I won't buy them. I prefer to buy silver because I believe in the future it will be realized as far more valuable than gold. Buuuuuut the rich own the gold and will try really hard to keep its value higher. But we don't really nèed much gold for today's society. We NEED silver for it.
@@Jeffrey-p6l I like both because they are both scarce. No matter what anyone says digital gold is a fairy tale. I really like silver for it's utility and gold because it's gold.
How will people know. If they have gold in thm
I have only 3 of them $1:00 just for fun m
Shiny 😇
seems like something you buy a few of for a currency collection, but it suffers from the problem that it is only traded in the USA and is still dependent on the dollar where gold bullion is a global traded commodity.
how is it dependent on the dollar? gold bullion also has a dollar denominated spot price
@@SmartSilverStacker let's say you fly to Europe with a pocket full of goldbacks you're not getting much if any euros also very little gold in each one, a pocket full of gold bullion doesn't matter where you are your able to exchange for local currency. I believe that is the definition of dollar dependent.
You can't say that Gold doesn't yield any return I have stackt Gold for 20 years my gold has grown by 42 % in value
I think the leasing has potential to be extremely profitable. Earning and reinvesting goldbacks that could appreciate in value is like compounding on steroids.
I listened to a billionaire. Invest into things people dont like.
I bought a few because they are good looking but not for investing.
I just hope competition from coins bars & hopefully other gold dollars bring the prices down a bit. From the last time I checked the ability to make something like goldbacks is copyrighted so less companies can do it.
I would just buy gold as you can just buy 2x the gold. Other then that they are fine.
I just found these yesterday but your video seems to push gold as an investment instead of a store of wealth. Big difference. Holding gold in your hand and not in a bank so you really own it is an advantage of gold. Gold going up in dollars is inflation protection against the fed stealing your wealth. Gold having value everywhere in the world for 2000 years is proof gold has solid value. These notes are a great gift and hopefully a good store of wealth for the future and maybe some value like a baseball card in the future. They are not proven money especially if there is not a consistent exchange rate. I appreciate your vid but in my opinion gets off track if you are pushing these as an alturnative to buy physical gold. That said, i just purchase 50 bucks worth as christmas gifts! :)
I'm a stacker. I understand goldbacks. I wont buy one. But I'm fine if people want to buy them and hope we use them in the future. But hey I got piles of junk dimes and quarters I'd be fine using as well.
I'd love to agree with you but in 20+ years of trying to spend silver I've had little success.
I've sold more Goldbacks for silver in '23 that I've ever been able to spend silver in 20 years of trying. People get Goldbacks as money. Silver not as much, for now.
Some products come along and at first are seen as innovative. Like when Taurus introduced the judge. Then as time goes by people realize the performance and practicality is lacking and is only useful in a small number of circumstances. The judge, again as an example makes an excellent paperweight. Soon after the latest greatest innovation becomes a novelty or niche product. Why buy a judge when you can buy a kimber.
Sounds like you just described something that sounds like bitcoin a slow outdated innovation. Yet it keeps becoming more valuable because it's worth what people are willing to pay for it. I also like Kimber but prefer Sig.
Production numbers do not necessarily equal sales numbers
Must be nice as a company to set your own exchange rate that don't make sense
They are market makers, not as easy as you might think. Investors also pay the price, so it's not just an ask
Premiums are insane!!
Premiums mean nothing. I buy them all the time.
Cost to buy a 24K one-ounce gold Buffalo coin: about $2150, or around $100 above spot price. Spending value of that one-oz coin: Spot price of gold, or around $2050. Good luck using it to buy gas or groceries though, and even more lucky if they can provide change.
Cost to buy one ounce of 24K gold in the form of goldbacks, ie: 1000 goldbacks: $3960 if buying from Alpine Gold or Defy The Grid. (that's over 90% over spot! OMG!). Spending value of those 1000 goldbacks: $4280 at today's rate. That's a $320 profit that drops directly to my bottom line. And I can use them to buy a $4.28 latte. Or sandwich. Or use 15 of them to fill my car's gas tank. So tell me again why I should be concerned about the premiums.
The spending power of 1 oz of Goldbacks is $4,280 today. I just traded 1028 Goldbacks for 2 - 1 oz Krugerrands. What most people don't know or understand about the Goldback is a lot!
I like them as a concept, but feel like silver backs would function better but I refuse to ever buy the silver dragons silver backs because I cannot stand that guy or commie dragons 😂 im also generally not a fan of the gold backs old world style designs.
"Free storage of your gold" - sounds like a jooooo
🗨🗨 How do people check for fake gold bills from China ⁉️ 🗨🗨
GoldBacks would be extremely difficult to counterfeit. The machines that are used to produce them cost millions of dollars, and to this day I've never seen a counterfeit Goldback, convincing or otherwise. Coins, bars, rounds are all relatively easy to copy, but it's much less of a concern with GoldBacks.
@SmartSilverStacker OK, but China has millions of dollars & is Counterfeiting gold as we text. They are not going to stop & I don't know of any way to stop they from trying. At least you can test the others.
@SmartSilverStacker 🗨🗨 China has millions of dollars to counterfeit with & are not friends with the US. 🗨🗨 Maybe this sounds better.
They’re way too expensive! Most of them are more then twice the spot price of gold. They should be no more then 10 to 15% over spot ; that’s robbery! I wish, someone honest would produce those, also in silver!
It's petty obvious Goldback has a*small* vested interest in how they're valued. I wouldn't call their exchange rate table very credible. It's like making up your own numbers
👎👎👎👎👎
Ridiculous way over the top cost & premiums vs pure bullion for the same product .. no way ... just figure out how many goldbacks it would take to equal 1oz bullion and see the price difference .. not even close ..
I agree with you 100% I dont normally comment but this was eatting at me. sure they look cool, and people with little money can get there hands on fractional gold.... but 97% upcharged premiums. You will never make that back. 1/10 oz gold coin only has on average 2-35% premiums a most and I thought that was steep but duable to at least get my hands on gold every week.
Premiums are calculated because bullion is sold at melt price.
GB premiums are not lost as they trade at exchange price.
Cool novelty but waste of fiat. Stick to 90% or bullion
lol, goldbacks wont work out in the long term
As Savings, they are horrible for stacking because of the high exchange rate (This is not the purpose of gold backs, but worth mentioning)
As Currency, it is terrible. High exchange rate to obtain this. These are not very durable. Only will see widespread adoption or works during SHTF moments. I would rather spend money that is getting weaker and save the rest in sound money. You lose too much in premium to justify the goldback usage in normal everyday life.
you don't lose anything on goldback premiums, if you do your research you'll find that they can be traded with zero spread
? You don’t lose anything on the premium, unless u melt them, In which case you’re doing it wrong. You buy them and then spend them at the GB exchange rate. Not melt price
Im not paying double just to have ultra fractionals. We already have fractionals, its called silver.
NO! They are not if you cannot sell them to a gold dealer!
They are not what? Great secondary market for goldbacks. UPMA.org even has 0% bid ask spread. They buy them back for the same price they sell them.
Don't get stuck holding gold backs who wants them cannot buy nothing with them
C'mon, man Tou lose all credibility shilling fir these guys.
You have PHENOMINAL contact othere than this infomercial
Go ahead and pay that 110% premium for your gold back.
Difference is you lose your premiums. GB buyers never lose their premium, they spend them at exchange.
@@BlueBirds-fs1id That makes even less sense. They pay six dollars for something that has a face value-i.e. exchange value-of one dollar.
@@apt707nola lol 😂. Learn, educate yourself, then comment . In that order
@@BlueBirds-fs1id keep drinking the coolaid. I guess I didn't learn much at Wharton.
@@apt707nola oh name dropping, soo much respect, well whatever you learnt, it obviously failed to cover basic FX principles. The jones town reference is trite. Exactly how many GB = poison?
This is utter junk. If you can't afford gold, buy silver. Maybe even a copper coin.
He's miss informed
I think they're freakin awesome !!! 👍 cant afford them but if i could i would definitely have some in my stack 🪙💰💸
They're $3.93 ea at today's rate.