Goldback Pros & Cons and a SCAM WARNING
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- Опубликовано: 7 сен 2024
- In this video we discuss the pros and cons of Goldbacks. gold backs are beautiful but are they worth the money? We compare it grams to grams and give a warning to gold and silver stackers everywhere.
To hedge with gold and silver call Stacey (318)-564-5823 she is a broker for Miles Franklin. Check with Stacey before you buy. Miles Franklin has-extremely competitive prices.
Disclaimer: i’m not a financial advisor a counselor or have any kind of license for anything but to Weld . And they’re probably expired. Do your own research it’s not my fault have an awesome awesome day
If you would like to report anything you see around you. Email: ninjanationreport@gmail.com
Disclaimer: i’m not a financial advisor a counselor or have any kind of license for anything but to Weld . And they’re probably expired. Do your own research it’s not my fault have an awesome awesome day!
Goldbacks aren't locked in their respective States just like the dollar isn't locked in, in particular states. We, The People give power to things.
I have my own company and I've been accepting Goldbacks as payment and my company isn't located in any of the states with Goldbacks. This form of payment should be cross-statelines and needs to be acknowledged & utilized.
very interesting.. (this is Stacey) - so how do you calculate the worth/value? Spot price? Do you premium? We have thought about getting some...just the premiums have held us back...
@@FinancialPrepper Hi Stacey, right now, I base the value of gold spot price.
Customers who have paid me in Goldbacks are located in Ohio, Colorado and Oregon.
I'm located in Texas and I believe we are also getting our goldbacks. There are several thousands of us business owners here in Texas who have been pushing for goldbacks.
It needs to be utilized. We give power to things and with this CBD see that they're trying to push onto us, most of us doesn't like the control and will not comply.
I've spoken to a lot of average citizens and most does not know that they have options. It's up to us to show people, the average person out there that there are options. I've been giving goldbacks as gratuity in addition to fiat currency to start introducing the goldbacks out in the streets.
When I'm at restaurants, I catch many people's attention because it is a beautiful piece of art. That's when I show it off to the average person that this is an option for us and we don't need to comply.
LOVE IT!!
The technology that’s put into these gold-backs is bar none. The artwork is absolutely stunning. I think the premiums on gold-backs are well worth it.
Right? Gold rounds are simply too gigantic in value to be useful at all in transactions and this absolute marvel of a technological breakthrough solved that issue. Worth the premium!
@@caryphillips4885 that's why they make gram sized gold... also junk silver is where it's at for smaller amounts.
A year later and spot price went from $1,780 to over 2k. All while the dollar looses value.
Absolutely the Goldbacks are awesome. They’ve sold a Billion so far. More states coming. Don’t give up on the Goldbacks. Great video!!!!
Thank you so much for finally reviewing the Goldback I sent you. Yes, the upfront cost is higher, but you don't lose the premium when you spend it. I've only used it for tips so far since people here in Ga. really have no exposure to them. As of TODAY the exchange rate is $3.83 and if you buy one Goldback for $3.45 you can see how it's not TOO BAD. It's just another way to spend REAL MONEY !!! Take care guys 😀😀
I love this. I tip in silver, this is a great option for me! Cheaper than a 🍁
Thank you for sending the Goldback to us!!! I think Chris is going to frame this one! It is really beautiful!! I'm considering purchasing more - still on the fence! But I love at looking at other options... (this is Stacey)
@@FinancialPrepper You should go online and see the other states as well. They are ALL beautiful. I bought my first Goldbacks at Money Metals Exchange, but Defythegrid has great prices as well. Bought my complete Wyoming set from them. Glad you liked the Goldback. I know they are a little expensive, but "sound money" is better than fiat .... don't you think? Take care.
@He who must not be named Well you know opinions are like assholes....everyone has one.... do what you like.
@He who must not be named I tried really hard NOT to reply to your simple minded response, but I just couldn't. I still have the first silver (Engelhard) coin I ever purchased for $5.50. Can you use your SIMPLE MIND and figure out how many DECADES ago that was?? I'm debt free ARE YOU ?? I'm in the top 1% of precious metal holders GLOBALLY... where are you?? I think I have a good idea of what SPOT PRICE is. Goldbacks are an ALTERNATIVE to the fiat dollar you have in your wallet. Yeah it's over spot price, but it's WORTH SOMETHING!! The dollar ISN'T. so who's the F**&ing MORON NOW ?? Dipshit...
I also have started including a 1 GB as a tip at resturants, to get them out into the public. The response has always been positive.
As a Californian I can say thank GOD she is planning to step down
The price of Goldbacks change from website to website. Hero Bullion sells 1’s for 3.74 (Nov 2023) but Bullion Max sells the same ones for 5.34. So it pays to look around.
I like the Canadian Gold Maplegram: 25 x 1 gram Maple leaf coins, all mounted in a folded assay card with perforations between the coins. Would be very easy to tear off grams as needed. The Goldbacks are a nice micro-denomination. As gold goes up, the more feasible they will be.
I agree.
I would accept Goldbacks for payment. But Gold would have to be tested first, sorry a lot of scams today. A Goldback would be hard to counterfeit.
I've had 3 clients pay me in Goldbacks so far. As a spender i spend less and save more this way. When i get enough Goldbacks vaulted I'll Lease them back for interest.
A goldback would not be worth counterfeiting. The machine investment to make them is quite high.
Sorry I missed the live! I have bought a lot of these recently. I am buying the 1 denomination greenbacks for $4 each at my LCS. At that price I don’t mind having a bunch on hand. I really like them even as you said, for art. They are beautiful!!
I agree that the 1 gback note is the best bang for the buck. As the price of gold goes up, these become more feasible. Diversifying the stack is always a good thing.
That Goldback looks like something that would make a really cool Christmas gift. Yes, perhaps overpriced for it's value, but super cool and inexpensive enough to do for multiple people.
I agree 100%
I buy goldbacks to meet free shipping. I like them, they are elegant . Love you guys. Keep it true.
The goldback is very pretty and I am tempted to by a few for each one of my daughters for the bling factor but I definitely do not see it as a commodity. As always, thank you both for the information.
Chris I saw a video of someone spending the goldbacks in Utah. They factor in the premium. $300 item was like $80 goldbacks.
I don't really go for collectible gold and silver, however I did get one single and one five from each state as they've come out. I tack em on my order when I'm just under the free shipping amount on my smaller PM orders.
I can see that. I would probably do the same
How much is the free shipping amount?
PROs: Make some purchases in Utah, Wyoming and New Hampshire without carrying cash, debit or credit cards.
Even though the Goldback is more expensive it has many more benefits then that break apart gold card you have, first off it’s almost impossible to counterfeit that Goldback Gold bars or any type of gold coins can easily be counterfeited, The next thing is you can use a Goldback to purchase a very small item in a store like a loaf of bread, The machine that produces the Goldback, cost over $5 million, and Utah is also using them, I like them for their small fractional gold value and almost impossible to counterfeit
I would not buy them exclusively but they are really nice and easily bartered. I've been buying them for years every once in awhile.
If you knew the technology and cost of producing goldback, you would understand why the premium, it also depends on where you buy em
Not only that paper money ( the federal reserve note) is fake. It's not worth the paper it's printed on. So I think trading any amount of gold for worthless paper is still a good deal. Thank you for bringing that out. It's something to think about. But gold will always be going up no matter what.
How is trading gold for worthless paper still a good deal? That's illogical.
I love gold backs!! Yes they are high but so cool.
I've bought smaller gold coins. Half oz, quarter oz, etc
I'm not sure where the 5+ dollar number is coming from, bit these things are going for about $3.80 per 1/1000 unit right now.
Now I can find some ebay scammers trying to get 5 bucks a pop, but that's insane.
I just paid 20 bucks for 1 on APMEX
As of today the value is $4.98
I've had 3 clients pay me in Goldbacks so far. As a spender i spend less and save more this way. When i get enough Goldbacks vaulted I'll Lease them back for interest.
They're definitely not $5.26. The gold melt price each today is $1.75 I bought 30 of them a week ago for $3.48 each. The price you can sell them back to the dealer is $2.86. Hope this helps.
1000 Goldbacks equals 3046 not 5260, right?
@@rollthedice54 I don't understand your question but at $1,750 dollars an oz gold spot price, the melt value of 1 thousand 1 goldbacks would be a $1.75 each or $1,750 dollars for the whole 1 thousand but just like coins they're worth more than they're melt value because of Premium. It's been 5 days but like in my earlier comment the sell to dealer price was $2.86 and the dealer sell to you price was $3.48. That might have changed slightly I haven't looked recently.
@@rollthedice54 1000 Goldbacks would be about $3500 at current prices, but they retain that value when spending in the states using them as currency. Just fine for spending in those states, not so great for stacking.
If you sell the Goldback to UPMA (United Precious Metals Association) you can get it closer to what you pay for it. Dealers are only going to give you spot for the Goldback.
I have several Goldbacks in all denominations and have never paid a higher premium for the larger denominations. They are fungible across all denominations which make it easy to figure the equivalent value of fiat currency. You cannot look at these as an investment for stacking but rather an alternate form of currency which will fluctuate with the spot price of gold. They are kind of like a gift card without an “activation fee”. And as gold fluctuates so does it’s purchasing power. But if we stack gold as a preservation of wealth why wouldn’t Goldbacks make sense given that same mentality?
The dollar has lost 50% of its buying power in 3 years. ( what is the premium on that ? ) The Goldbacks will continue up in value helping to hedge against inflation.
I have been considering these high premiums on the Goldbacks.
The smaller the denomination, the higher the premium.
We cannot buy anything for spot. ( Has anybody tried )
The most beneficial point of Goldbacks would be for people that will be blocked from the CBDC and buying or selling, because they are not vaccinated.
These Goldbacks will give people some ability to trade when bartering isn’t available.
I think I am going to start buying some.
We just ordered our first sets of Goldbacks. We'll use them to transact for our freeze-dried foods, produce, honey, wine, tours, and more.
I think you guys will come around more to the goldback. The valcambi is cool but even 1gram is a pretty big "bill" to barter with. Plus you don't loose the premium on the goldback, there traded at a certain exchange rate you can find on the goldback website. Oftentimes you can buy them below the exchange rate.
I also think your missing the point on goldbacks. There not for traditional stacking, there's a really big hit for people who don't hold alot of faith in our fiat currency. If you take goldbacks to a country like Zimbabwe I bet you'll be able to spend them even if they never heard of it.
There are more than 20 different things you can do with Goldbacks. Here are a few. You can bank your Goldbacks. You can lease them back and earn interest. You can borrow against your deposited Goldbacks* and you can get a debit card and spend your Goldbacks if you want to.
*Be your own banker. Pay 2.4% interest rather than 14-28% from your bank or credit card.
Money, Please Forgive Me, You've Been Replaced!
- The Goldback
Current exchange rate on the website is now $4.67, and AlpineGold is selling them for $4.40. Did anything become more affordable in the year since this video was made? No, we suffered from inflation. $5.64 is the cheapest I can find them sold individually on eBay at the moment. Goldbacks, for the grief they get, did not lose value. They served their purpose. You need .95 more cents to buy a Goldback today than you did last year. That is 27.53% more USD than last year to buy the same Goldback.
Thanks Chris and Stacey.
I just heard you on economic ninja, sounds to me like your in the financial information downfall of our current economic system. I'm open to any and all education I can aquire.
NEW SUB.
Thanks.
P.S. by the way, the hats look great.
To understand them better. They are interchangeable so they are supposed to be the same price for each gold back so one Goldback interchanges into 50 Goldbacks you just need 50 of the 1 Goldbacks
Great Video 👍 I own a handful of these as well, the reason the premiums are so high and don't come down with the larger amounts is because they are costly to make, just like yall, I can't really justify stacking up a lot of these, but it's a great way to get new people interested in Gold and learning to hedge inflation and store wealth. Really enjoyed the video , yall are awesome. Liked and Subscribed 👍
Thanks bud! We are like minded
i don't see one thing wrong about goldbacks .i have mine and will keep getting them .
Fractional gold always comes with a premium attached to it. With regard to silver, have you looked at the premiums vs. spot price? I think that the gold backs are pretty amazing and that they are going to be the preferred method of transaction in the future, especially when the government gets around to resetting the gold price.
The alternative is paper? What's the scam on that? More than double I bet
Cryptocurrency requires a ton of expenditures in electricity, emissions, time to verify, and “gas fees”. Those are hidden costs. Goldbacks require less energy, emissions, and time to verify. Those costs are transparent. The premium over spot is more justifiable when you consider the inputs involved.
$173.88
50 NEVADA Goldback 1/20 oz (0.05 oz) of .999 fine Gold
You can actually get higher price that go up to like $50 + that are more weighted gold
Using precious metals with purchases at this time would be ill advised. Wait a little longer.
Although they are more expensive than gold/ounce, I pick up about 10 1x5, 5x1) per month just to put back some. They are easier to spend in a catastrophic event than real coin and easier to carry. It is also a little easier to put back monthly than trying to purchase a coin or two. Just my opinion
I think the Goldback bills is a great idea. The high premium is unfortunate but it seems like it is still new so perhaps with volume it will come down? The different denominations makes it more useable. I like the Valcambi bars are a good idea but I can't see people breaking off the small chunks and trading them. It doesn't seem that convenient.
Today these things are about 4.40 to over 5.00 for a one gold back. It has a one thousandth of an ounce of gold. At 4.40 that would cost over 4,000 for an equivalent of an ounce of gold. I'll take the coins.
They really are cool, but I won't go out of my way to own them.
Chris, not sure if you are aware but some RUclips influencers are caught up in the FTX debacle. i’ve heard some getting like $100k per month to push it!
You keep saying 1000 of these is over $5000. That's simply not the case. At $3.89 for 1 Goldback, 1000 of those would be $3890.
This is a HUGE premium but comparing Goldbacks with Gold Bullion bars is missing the point a bit.
Goldbacks are "spendable money" with real intrinsic value. Smaller items of Gold Bullion have a higher premium, that's just the way it is.
As an alternative currency it ticks all the boxes plus it's in use in several states across the USA.
I have lost my interest in buying Goldbacks because of bulk-stacking prices are way to much! ⚠️Gold foil is too fragile.
Precious metals are expensive for the average person. Even if you just try to buy a gram.
12 pack vs. 2 one dollar gold backs.
Or a pack of smokes.
At least you have something afterwards.
You both look really sharp in those hats!
Seems to me like the goldbacks are way more relevant when using them to trade for everyday small purchases. It would be a pain in the ass to barter for goods with only $80 gold chunks. I wish the gold backs were closer in value though, however I think they're more practical than the bars. A good mix of both would actually be a good idea.
Money, Please Forgive Me, You've Been Replaced!
- The Goldback
My biggest financial mistake was being only 12 years ago during the 2008 financial crisis and nowhere near prepared enough to scoop up some cheap stocks and real estate maybe
I understand that completely
We're pretty close to the same opportunity. Its almost like Democrats are crashing everything on purpose.
Yeah, but a gram is worth around $50 - $80, while the Goldback is valued between $2 - $4. Yes, they're both small amounts, but everything's relative.
Great show guys
Love the hats ! Thanks again you guys !! Much appreciated for the heads up .
Good video. I like the Goldbacks. Just another way to fight inflation IMHO. That combi bar is sweet though ! subscribed.
Hi guys. I've watched a couple of your videos and have decided to subscribe. I like what I'm seeing on your channel . Glad you didn't fall for the pre33 graded coin scam. They are ridiculous. I'm a light prepper with heavy emphasis on gold and silver stacking. I've seen many videos on the goldbacks and do own some. They are pretty indestructible. People have put the goldbacks thru the washing machine, have tried to extract the gold from the bill but to no avail. I look forward to viewing more of your videos and possible interactions in the future. I know trust must be earned but if you have any questions concerning stacking gold and silver please feel free to lmk. I hope to start my own channel next year. Thankyou and take care.
Thanks for the comment and the information about the goldbacks!! And thanks for subscribing and watching!!
That's really interesting that you tried to extract the gold. I don't think it's a good idea because these are effectively more than double the price of gold so that means that at least half of it's value is in and of itself. But it's a cool experiment and I'm glad you shared. Any thoughts on why you weren't able to extract it? Just didn't want to fully destroy it or what?
@@randydelgado2686 hi Randy. I didn't perform the experiments. I watched a Silver Seekers video in which he did tried various methods. I can't remember all the specifics but If you go to his channel and zip thru the videos you can find it. I believe he recorded it bout a year ago. Thankyou
@@randydelgado2686 hi again Randy. I found silver seekers video on testing the gold backs. It's dated 1/12/2022. Thankyou
@@silverstormienormie6146 Ah ok, thanks for following up I'll watch that when I get the time.. very interesting..
Hey neighbor, I just found your channel while I was looking into the Goldbacks. I agree it's a good way of exchange but the premium is way over the value.
Great talking with you!! (this is Stacey)
IMHO I would say the gold back while more costly is far more useable than the 1g bars for small purchases. The technology will get better and mass production will reduce the margins at some point. The cost to produce them has to be factored in to buy in price. Since it is gold it will appreciate regardless. This also makes it cost inefficient for counterfeiting as it would cost more to produce a fake than buying the real ones.
Hilarious! Great job
Great info guys!!! Love the hats !!
They seem to maintain there production costs, which those cambi bars do not, plus a 1 gram bar is easy to lose.
I have a ton of goldbacks I use it as real money you know gods money . I educate those who don’t know about it . If someone paid me in these instead of heavy manipulated fiat currencies I’d take the gold back . Mark these words these bills will become supreme .
Crazy idea. What if you buy goldbacks with a bank loan and wait for inflation and by the time you pay it off it ends up being cheaper
Or if gold shoots up 20X.
This is the way to do it. You buy Goldbacks. You vault them. You lease them back. You earn interest. The value increases over your lease. You get paid in gold/goldbacks. You still have your saved Goldbacks. You win!
Buying bars will always give you more Bang for the buck! Thanks guys for being real.👍
2 of each - front and back showing for each issue for a wall display.
crowd stopper
on my way
See the actual value online daily for the "spot" value .
I paid $3.71 to buy 1 Goldback - the value in the store was $4.10 worth of goods and services. No premium.
Do your due diligence?
Thank you for the warning!
Tell us it's a SCAM, BUT DON'T GIVE US THE COMPANY NAME? Don't waste our time!
As a serious gold collector… gold backs are cute as a novelty, other than that they serve no purpose.
I agree.
Great video! But I just can't swallow paying $5,000 an ounce for goldbacks.
we agree...
I bought several goldbucks for my FIL, plus some silver rounds back when they were cheaper for Christmas.
Also got 1 coin per child for Christmas
The problem I have with goldbacks are that I'm from Louisiana. Not long ago they were taxing bullion purchases, Louisiana is just a tax greedy state in general. They've shut down a constitutional carry vote twice, and openly stated it was because of tax revenue on permit licenses. The politicians in this state would never go for something like this. If I were from Utah, or Nevada, or New Hampshire, or Wyoming, I think those are all the states that use them, I have plenty of them and I'd use them from time to time. If I had a business in one of those states, I'd gladly accept them. I just support the concept. If a neighboring state used them, like Texas, I could see them going for something like this, I'd have a few, but being in Louisiana, there's just no point in me getting any.
Sorry for your state's issues. To help support may I suggest that you give goldbacks as a tip. Anything helps.
You can buy them for 3.85 each sept 2023. Doesn't matter if it's a single 1 3.85 or a 50@ 3.85 = 192.51 = Same price.
If the dollar value drops, let’s say it’s 100% worthless
Why would a person give up food or any other commodity for a chunk of metal no matter the shape form or value? Is there somewhere on you tube or something that can explain this?
Also 1/10th and 1/20th oz. gold coins are an available. You do pay a premium but if you need to use them for purchasing, they are a good option.
When you sell, trade, barter, etc. You don't lose the premium. It's passed on so the premium argument is void.
Unpacking a lot here: if you go direct to places that bank with goldbacks (alpine) you get exchange rates and they can exchange the denominations at parity. They have digital banking, cards, and the exchange rate was $3.83 today. They will never be an alt currency since they can only make 2-3 million a year at best.
In May, 2023 they produced $6mm. And they are ramping up for more production
The Goldback is far easier to spend, carry, use than the valcambi. It's denomination is more fractional and it's utility is far higher.
I don’t like these goldbacks. For small transactions, I would be using the pre-65 stuff. A 1/1000th oz goldback costs the same as a previous-65 dime according to the gold spot price (but the premium brings it to $4 (100% premium).
A dime (with its already high premium) purchases what $2 fiat currently buys. A quarter buys $5 and a half dollar buys $10. The Morgan dollars however are different. They seem to have more purchasing power. No way I would be getting involved in these. Too hard to carry because you’d be worrying about folding them.
I bought a few as art/gold. But for using and stacking doesn't make sense. Basically figured I throw it on top of a normal bullion purchase to save on shipping.
I don't know that the premium argument is valid here. It's not strictly bullion. It's closer to numismatics or semi-numismatic coins in that you want the premium to go up over time. Its standard would be how it evaluates against the dollar. If it continues to go up in dollar price, that means it is popular.
I thought of it is a premium. It might cost a little bit more. So do gold coins or bars have a premium. It depends how much gold you buy. For this I don't have alot of money to buy coins. And I don't know when the sh!t hits the fan. So buying a few at a time is good for me
Simple answer with Goldbacks: Do NOT buy them retail for investment.
They run about $6ish retail right now.
The exchange rate (5/2/23) is $3.73 right now.
Buy wholesale, or through a place like Alpine Gold that gives you the exchange rate.
Yeah $3,700 an oz is still nearly double a 1oz round, if the SHTF you're going to find your 1oz round less desirable and harder to exchange.
Don't get me wrong 1oz coins/bars are great for INVESTMENT.
But doomsday scenario, you definitely WANT fractional. Grams, half grams and shot have always been the go to. But with the price soaring, Goldbacks are definitely an attractive option.
All valid points. What about silver? I like silver for small denominations.
@@FinancialPrepper No problems with silver, I have crate loads of dimes and halves 😉
Much of my stack is silver, except for the Goldbacks and some quarter and 10th oz gold coins.
The only issue I could see is when trying to barter with some more "common" folks who don't understand the value of silver. They see nice, shiny gold and they know it's gold and "gold gud!"
These people don't "get" silver like we do. Hell, I can guarantee that there are people out there that have no ideal pre-64 coins are silver.
Truth be told, I'd rather a couple rolls of dimes over 2 grams of gold.
There's definitely a place for both. Just to me, silver is more for trade with "people in the know."
Love the hats...You guys look great 😃 Been wondering about these goldbacks.....thanks for reviewing......
It keeps the premium stays on the sell side also. One does not lose on the sale.
Gold is#1. However Gold bonds are for if we have to exchange at smaller value.
So it still has value more than Fiat dollar's. However people know it's more expensive to buy Gold Backs. In the end most people that are buying Gold know basic math. It's about hedging based on what we can afford also some of us can't afford an ounce. We still want a piece of the Gold pie before it's to late. The devaluing of the dollar is becoming evident. When fiat money becomes worthless.... We'll get out money/ value BACK!!!
It’s double the price & he’d give it away for free but not use it to trade actual goods
Good presentation. I own goldbacks and I do not mind the premiums on them. I buy them because they make certain types of transactions much easier for me. Its like buying soda at a convenience store. You will pay more than you would at Walmart but that is why they are called "Convenience" stores. For me it is much easier to use a goldback than mess around cutting a link off a gold chain.
In order to understand why the premium on Goldbacks doesn’t matter, you need to understand Austrian economics monetary theory. Basically Austrian monetary theory states that all value is subjective. Even the value of gold. Nothing has intrinsic value. Gold isn’t just valuable because it’s Gold. It’s valuable because it does a decent job of satisfying the criteria for what make something a good money. So to the extent that goldbacks improve on the shortcomings of gold as money, it should be more valuable than gold. So that means the gold inside the Goldbacks acts as a floor on their real, tangible value, not a ceiling. Remember, value is subjective. Goldbacks are worth whatever the market says they’re worth. The premium only exists in the context of looking at it like it’s a gold equivalent. But they’re actually better than gold. They’re something more.
Thanks for the video! Those hats were great! ❤
A good way to explain the mark up is to think how much money you could save buying a block of steel vs a box of nails. You could make many more nails yourself but the convenience of having them ready to use is worth the cost.
Thank you, cuties. 🐕
Great for transactions in states where precious metal transactions aren't taxed. Converting cash to GB's & using it to barter tax free is very appealing. Premium is WAY too high for stacking which is unfortunate considering that these would be perfect for SHTF barter, much harder to counterfeit than a gold coin or bar.
I've done 30+ transactions now with Goldbacks. I've sold several, tipped some, gifted some, bartered with them, donated some, transferred some, bought a pew pew with some, paid my lawn service with some, used at a farmers market, had 3 clients pay in Goldbacks and even banked several. Next, I'm going to lease some out. They are very useful, I'm finding.
Everyone should have The "preppers mini-stack." Place an amount of goldbacks where you might be when an emergency happens. Ie: 5-5s or 20-1s in an envelope in the jocky box, office desk, tackle box, range bag, in your briefcase, in your RV, etc. I made an emergency contact list on cardstock folded in half and hard laminated it. No one will ever know it is a mini-stack of goldbacks. Ready for your next emergency
That why small coins are so much more in cost, us 2 1/2 5, 10, 20 is the premium.
The Goldback is broken up 32 times more finely than the break apart gram bar you showed. There is value in having a small denomination. You pay more of a premium for a 10th oz coin than a full ounce.
I have sets of gold $ bills framed cuz their beautiful $1 $2 $5 $10 $20 $50 $100 bills got sets of 2 so i can display ea side in the picture frame they looks nice in my office, an their solid 24ct gold super thin but very pretty looking i also have separate 1s that have green on them but only the $2 an $100 bill has actually serial #s in green as well as other spots but the 2 sets i have framed are just solid gold an mainly just worth their weight in gold , i believe each bill is 1 gram if i remember right , ive had them for about 20 years now , an bought them more for looks than anything back in the day , i stack metals, but i bought these bills because their just beautiful looking !
Mine look like actually bills compared to the 1 showed an mine are thicker as well
$80 though is not a small denomination. It’s smaller, but not small.
Hey, great discussion/explanation on the cost of goldbacks and gold. Glad I found you (through the #EconomicNinja), I'm mostly a #silver stacker but like the goldbacks for the 'artsy' value.
Okay, great conversation 👍
Curious... For the serious stackers of gold, one ounce and larger quantities. These gold backed currencies at 1/1000 weight as discussed.
The gold stacker takes one ounce of gold... Any govt minted ounce... Conversational consistency... With intent to convert bullion into gold backed currencies...
The exchange rates will provide 1,000 goldbacks less the premium. Say approximately 6-700 goldbacks for the actual one ounce of gold. This converts a valuable one ounce coin into useable, identifiable, small incremental medium of transfer.
Does this equate to your thoughts on how this potentially may work? Seems reasonable for those who prepare?
Appreciate your content 👈😎🎯
Cheers ✌️
$5.26?? Not sure where the information in this video was acquired, but per the goldback website the exchange rate for one goldback has increased gradually since inception to $4.09 today. It's NEVER been over $5 yet (except maybe as a collector's item). Also the video mentions a $50 goldback costs more than 50 $1 goldbacks? This is not true, a 50 goldback is worth exactly the same as 50 ones, or 5 tens, etc etc...This feature is a huge benefit for practical use of goldbacks. A final thought, the little foil plate of gold shown as a better alternative because it's better priced and can be broken into smaller pieces may be difficult to exchange in hard times due to a high likelihood of doubt of being legitimate gold, not to mention hard to keep track of.
Even at 4.09 it's $4,090.00 an oz. Still a scam.
Late to this video. I really like the Gold Backs. Im 100% that we will see an economic melt down in the next 10 years. That said Gold will become so valuable that having 1 1000th of an ounce actually makes it viable. Even 1 gram of Gold could be the equivalent of 2000$ worth of buying power now. Having Gold Backs just makes sense.
Thanks for the scam alert. I have been stacking for 20+ years but I remember the when I first started I ran into these high pressure types quite a bit until I learned the ropes. It’s always a good thing to remember, caveat emptor (buyer beware). So many hustlers and unscrupulous people out there.