If you get a UPMA account, you can get Goldbacks for $3.65 per goldback. That ratio stays the same no matter what denomination you're buying. For example, one 25 would cost 25x3.65 for a total of $91.25. As for premiums, the more fractional you go in any precious metal bullion and coins, the greater and greater the premiums will be and not in a flat line either. It gets rapidly more dramatic the smaller you get - but not with the Goldback. The premium is WAY below that trendline. At $3.65 a Goldback, that means it will cost $3,650 to purchase one troy ounce of pure 24 karat gold. Compared to a gold buffalo - which I just found one for $2,060 - that means you're paying $1,590 more for the same melt value. Compared to the spot price which is $1,925 you're paying $1,725 extra which equates to a premium of 89.6%. Now you may very well ask, why pay such a high premium? Because, as we all know - the melt value of coinage is not why we stack coins. At least, not all of us. Those that desire the closest to spot are best getting gold shot or large bars. But for extremely fractional gold that is nearly impossible to counterfeit, serialized, fungible, durable, beautiful, and easily tradable in small transactions - I think the premium is worth it. And I haven't even mentioned the best part. The premium you pay covers the manufacturing costs, guarantees, and anticounterfeiting technology - but the premium is not lost like when you buy/sell from a coin shop. It is rather reclaimed upon using the Goldback in a transaction, because it's inherent utility gives it value equal to the premium. If I buy a Goldback for $3.65, I can spend it for the current accepted trading rate which as we speak is $4.00. That means in addition to maintaining the premium and reclaiming it, I've made a net value gain of 8.75% for simply converting my empty currency into gold. The last point won't remain the case forever.
@NayokeHenji NOTE to paragraph 3. You are correct that it would cost you $3,650 to purchase 1,000 One-Goldbacks or 1 Troy Oz gold. But If you want to convert it into gold here is how to do it. You contact the UPMA and convert your 1,000 Goldbacks into gold bullion, Gold Eagle. The UPMA purchases your Goldbacks at the daily price. $3.65 minus 5 basis points ($30.25) Which give you $3,650 to convert which equals 1.74 approximately in gold eagles through your UPMA account. So again much of the value in owning Goldbacks is in the utility. they are easily sold, traded, bartered, gifted even tipped. Use them and when you need to convert them. There is room for many uses when you hold Goldbacks. I hope that clears things up a bit.
I've done 50+ transactions now with Goldbacks. I've sold a ton, 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. Currently I’m in New Mexico on business, not a Goldback issued state and I’ve sold and traded all 27 of the One-Goldbacks I had. Wherever you are and someone is willing to trade you for your Goldback you are good to go.
@@danielbbq exactly. 24KGold is 24Kgold, even if the origin is Zimbabwe. It represents its own built-in hedge against inflation and is also a near-perfect black-market currency. This is even more true now that it's available in the most convenient and fractionalized - and least-counterfeitable - form that the Goldback represents. I'm in Canada, a country that, thanks to generations of political idiots and indoctrination, is now on the cusp of full-blown communism. Our dollar will soon be useless, cash will be replaced with digital currency that governments can access and seize without notice (as punishment and "cancellation" for speaking out against them) and millions will have no other choice but to barter amongst themselves to survive. This is an environment in which Goldbacks can play a very important role. With Goldbacks we will not have to break out a gram scale to shave off a few flakes of 24K from that one-ounce gold buffalo we'd been hoarding in order to pay for a dozen eggs as was necessary in Venezuela.
a game of musical chairs with extra steps. Once a small group of people start to realize the premium is outrageously high and doesn't honor the 'official exchange rate', the noteholders will begin to panic, the bomb would burst and this whole thing would seen as a ponzi.
@@vander9678 Step 1. Show my Goldbacks. Step 2. Trade Goldbacks for products or services. Step 3. Ponzi exposed. Does anyone else shake their head at these premium poo-pooers naivete? Everything has a premium on it. The retailer makes a minimum of 40% up to - 100%, the manufacturer looks for 100-200%. The premium on a soda is 3k - 8k% yet many still buy soda.
Did you know that you can lease back your Goldbacks? Did you know you can transfer your Goldbacks, like Venmo? Did you know that you can get a debit card and spend to the value of your vaulted Goldbacks? Did you know that you can be your own banker when you own Goldbacks? You can borrow against your vaulted Goldbacks at only 2.4% APR. No bank or credit card can match that. Did you know that the Goldback has doubled since 2019 and the dollar has lost nearly half its value? Did you know that the Goldback is the most important gold news in 6,000 years. Did you know that if you show your Goldbacks you can sell them for 35% more than you buy them for everyday of the week? That's utility for sure.
Why yes, yes I do know :) Except for borrowing against my GB's. I would definitely like to know more about that. I'm guessing the UPMA offers that? If so I'll have to give em a call. I love my GB lease. It's great getting free GB's every month.
@@kivie13 yes, call the UPMA they can walk you through it. You can 1. get a loan at 2.4% or 2. get a Visa card and spend like cash. This is a better way to keep your cash than in dollars.
@@tecknows The UPMA. I get 2 percent, which admittedly isn't a lot, but it's free GB's deposited in my account every month and since I have GB's vaulted with them I may as well lease them. I believe they only have a limited amount of leases available so give them a call and ask if you are interested.
Goldbacks are definitely the future. Why? Because they are made out of gold. Gold is hoarded. Not consumed & depleted. I'd take it over the dollar any day. Just store them.
I have 1200 goldbacks 300 of each state all in 1s . I have them incase shtf . I'm in AZ..Utah and Nevada are right next door. I like having them along with silver bars. You should have 100 goldbacks just for shtf.
new goal is 100 gold backs. different denomination. just because. even if the whole.thing folds. the collector value will have something. much more rare than typical mint stuff.
For those that get hung up on the premiums of the Goldback a little understanding is needed as you actually NEVER loose on the premium. This money is meant to be SPENT not SOLD. My last batch of GB's I bought for $3.66 the current exchange rate is about $4.00. This is hyper fractional gold that is meant to be spent. Goldbacks are a sound money and are meant to be circulated. There is a place for everything in a diversified portfolio. If we stay on the topic of premiums if you were to buy a 1oz. gold coin you pay a premium when you buy them and when you sell them. That said they have a place and should be part of everyones stacking goals.A lot of concern about CBDC's and Fiat currency and inflation but when shown an alternative they scoff. Just my .02. GB's are simply an alternative and the premiums are high but they are all recoverable. Spend them!
Excellent explanation ! ! , hope Scotsdale Stacker reads your comment over and over and over and then maybe he will see the light ! Thank you for your comment . I just pray that my beautifull state of Texas gets on board soon ! !
@@mergeads If you want spendable gold, then goldbacks bring divisibility that a troy ounce of gold cannot. How are you going to use gold to buy a pound of beef or a dozen of eggs? Cut off shavings of gold from a troy ounce gold coin? This is where the goldback really does well. Of course, the alternative would be to use silver coins but those will be a lot heavier to carry around than goldbacks.
At minimum get a set from each state, first year issued, they are selling on eBay for $3,000+. And at that profit you should get 100 sets, no 1,000 sets. And if you didn’t know, during COVID a one Goldback was selling for $50. So the next time SHTF you should have another 1,000 on hand. I sure will.
@@danielbbq 1,000 GB's is a lot. I just got started with 110. Maybe in the future, I might buy more. But at present, the prices have gone up. I remembered 3 days ago, the prices were much lower. If you buy large quantities, every penny increase in price is going to make a big difference. So it's just better to wait until prices have come down before buying more.
I love Goldbacks. I love to collect them all. I also tip with them. Where I live, we have many shops that will take them. I am not worried about those who wont take them I a excited to support those who will take them. There are great dealers that you can get them for great prices. Finest known is where I like to purchase them. I am not affiliated with them but I did a good amount of shopping and am happy with their services when it came to Goldbacks.
@@cryptkeeper4507 They should be using the current exchange rate which is posted on the GB website, or around that amount. When it comes down to it, the market decides what they are worth. If you want to pay in GB's but the business owner is trying to scam you by only accepting them at spot value don't pay in GB's or go somewhere else. Edit: Goldbacks have a utility value that for some reason stackers can't seem to wrap their head around and are stuck on spot price. The utility value includes the premium just like your car is worth more than its scrap value. Since I have a GB account at the UPMA I personally am good with whatever their current market value is which is always lower than the exchange rate, at least for now. I stack at home and vault with UPMA and don't live in a state that has them (yet) so I don't try to spend them. The reason I stack is because I can sell them at current market minus 5 percent to the UPMA or Defy the Grid which is a heck of a lot better than any other fractional and the stacker also can't seem to learn that fact no matter how much I tell them.
I dont think its stupid, these will always be getting closer to the value you paid for them year on year, they wont be losing value. Whereas people buy overpriced stuff that loses value all the time, like cars or wives for example.
@Ron4885 🤔 correct, a wife's value inviably decreases as she ages, a husband's value normally increases. At least men have the choice to improve. Women just devalue, and are more likely than men to become over inflated too. Estrogen gives them longevity though I guess 🤷
Curious then that the people selling them are ever so happy to accept mountains of that "worthless paper". Wake me when petroleum is priced in goldbacks...
It was really hard to hear them called "Goldbucks" the whole time. If your goal is to get gold at or near spot then Goldbacks aren't for you. If your goal is to use gold as money then there is nothing better out there.
you literally have premiums higher on gold in pawn brokers and gold sellers. gold coins are easily faked. the fact goldbacks are form of physical form of currency in fractional gold to use in transactions in private transactions is what makes it valuable. to be honest, when i hear gold stackers and silver stackers talk and complain about premiums i roll my eyes as a 3rd party looking in. Its called the sale value, the labor that makes the coin and the gold bars. its the same with the goldbacks. Its to also be designed as utility to purchase and trade. Also, its fractional gold which is easier for the affordability to stack over time. also why are you purchasing gold coins in the $2000 that you can lose? Average folks will use the gold backs to help with saving their wealth on the side. I cant understand the lack of logic on most of the gold collectors. of course your never gonna buy at spot price, theirs labor value that is put into the creation of it. Your investing in a fractional gold currency thats interchangeable and to create more into circulation backed on actual gold that's actual gold. Its literally gold that can fit in your wallet and can stack more gold into your safe due to its flatness. Seriously, the whole point is to treat gold as money. the dollar used to be a bank note backed on gold and or silver. back in the old days you could trade in your dollar for silver and or gold cause it was a note guaranteed to trade in for gold or silver. Now it fiat and changes chaotically. gold is gold and is the actual money. Treat gold like money. if you want the spot price then mine the gold and smelt it oneself. oh my, mining would increase the value of the Sale price. I swear they need to get rid of the term premium cause its like a fancied word to trick you all by pretending its not the sale price.
You make it sound as if the only thing to buy is 1 oz coins. Do you then tell people to ONLY buy 1oz coins and ignore the smaller coins because of the premium? This completely ignores there are larger and larger premiums the smaller the coin so they are not exempt from high premiums yet goldbacks are reamed for having them even though they are even smaller which logic would dictate the premium continues to go up. And how would you spend such denominations from 1/10th oz(currently $320) on up to 1 oz? Are you going to shave off flecks of gold? Are you going to get 15 haircuts at one time for 1/10th of an ounce? What about people that can't afford $2000? And yes, I know there is silver but your comparison is goldback vs 1oz premiums so we are sticking with gold. What if they don't have even $300? At least with goldbacks they can buy SMALL and USEABLE denominations, say $50/ month. At least this gets people of lower economic means into gold and don't we want that to spread? The concept of sound money. Why chase people away? This is even completely ignoring that for the most part that premium follows from transaction to transaction so you are losing nothing. It definitely does in the 5 states it is issued and with businesses that display the goldback signs. i.e. As of right now, in one of those states, 1GB will get you about $5 worth of goods or services. In other states, many(definitely not a majority yet) will accept the dollar value premium not just the melt value once you talk to them and show them the website and how GBs work. -What is the melt value of copper in your alternator? Do you tell the auto parts store that is a high premium for only a few dollars of copper or are you paying for the utility? -What is the melt value of the dollar? -A $100 dollar bill costs 8 cents to make yet no one complains about that premium and that value has been going down since 1913 and continues today while gold buys the same.
The earlier GBs have increased in numismatic value since the artwork has been upgraded. Go to Defy the Grid and look at how much they are selling their early GBs for compared to brand new ones. If you have early ones definitely hold on to them if you can and sell/spend the new ones if you want to use them.
20%? They will need to double before you even break even. My fiat has lost about half its value in 25 years. You lost half within the minute or so it took you to buy the goldback.
Please do some more research on the Goldback. You’re not fully understanding...Users value Goldbacks by utility not weight. The only way you suffer a premium loss is if you buy/sell to a retail shop. Buy wholesale $3.70, sell/trade/barter at $4.04 or at retail $5. Where is the loss?
@ScottsdaleStacker how is "money" (value? Fiat?) lost exactly? Are you seeing the free market value of goldbacks decline at a rate more than gold? Do you think the only value of a tool is the value of each individual raw commodity that makes it up? Do people who buy valuable gold jewelry usually take a loss when reselling years later because of the "premium" over melt value?
I rather shop at stores that take them as currency. It’s a great way to help small businesses and to fight back against the federal reserve that took gold out of the monetary system. I wonder if Russia would take these
I paid a huge premium on my car - I could have bought a chunk of metal and plastic at melt value - but I can't drive hunk of metal and plastic. Some people just don't understand what's unique about the Goldback and the importance of utility value. I can buy a loaf of bread with a goldback, but what are you going to buy with a gold Buffalo? I live in Hawaii, do any businesses accept Goldbacks here? Absolutely none, and that doesn't bother me because that's my job to offer the Goldback as payment because the Goldback is not for people that accept obstacles. Look at it this way: Suppose the Wright Brothers gave up on the airplane and cited the reason as there are no airports, or Henry Ford gave up on cars because there's no place to drive them? They didn't because they had a vision. Similarly, the Goldback is also for people with Vision, who want to do their part to introduce sound money to the world. I bought all my Goldbacks at an average price of about $3.80 from the vendors listed on the Goldback website, but the premium won't matter when the price of Gold doubles. The Goldback was selling for half of what it is today just a couple years ago. The Goldback is for people who are self starters with vision, not your ordinary stacker.
Great post! Most people in the precious metals space just don't understand about these things, and get totally hung up about the "premium." I've taken the double approach of having most of my funds in Alpine Gold and backed by GB's, while at the same time buying as many GBs to hold as I can afford on a regular basis.
Great post. All true. You’ve inspired me: A major hurdle for stackers is the “said premium” of the goldback. Yes, there is a premium and in pure melt value it is high but just like a 2014-W 1 oz Proof American Gold Eagle PR-70 PCGS that is selling for $3,759 doesn’t make it unreasonably excessive to the collector. So does the ease of use, the readiness to accept as money and the gold content, make the Goldback a viable solution to our money problems. Or at least it is the best thing yet. The open-minded, early-adopter or entrepreneurial stackers that purchased goldbacks at $2.25 in 2019 realized 2122.22% increase in value when the SHTF happened, during covid, when they were selling for $50 ea. With 20x more usability, the high demand for the goldback alone justifies the market price. $4.05. When SHTF happens again what will the value of the goldback be? Based on history, the goldback will sell for 733% higher than the retail value at the current highest retail price, $6 ea ($50 ea.). The savvy stacker can buy one goldback for 62% less than the retail price today ($3.70), realizing 1,251% increase during the next SHTF, unless it is worse…. When has gold ever demanded such a profit? Only when held for 50ish years. As for me and my stack, I’ll have a good wad of goldbacks in conjunction with my gold and silver stacks. BTW, first edition goldbacks are already collectables, demanding 362%+ at today’s market. Do I need to expound on the potential value of stacking every state’s first editions when they come out? I think not. Imagine what the value would be if Goldback, inc went out of business. These novelty, collector pieces would skyrocket in value. Just one more reason to have a stack. Let’s call it a “collectors stack!” Oscar Wilde must have envisioned the internet when he said, "And he goes through life, his mouth open, and his mind closed." I know you don’t need an open mind if you have all of the answers. We've been convinced that having an option is essential even if there is no evidence to form one on. It's classic confirmation bias. I look forward to the time when doubters acknowledge their doubts and allow others to form their own informed opinions. And if the Goldback never takes off I'll continue to sell, trade, and barter them for more than I paid for them and be happy at that.
Not sure why premiums are an issue here. You're not "losing money", youre buying the added utility value. In a hyperinflationary event, how would you buy milk and eggs with your gold eagles? Shave slivers off? Would anyone accept that? Its such a strange mentality that stackers buy gold as an inflation hedge, but only do so in an impractical, non-spendable way. The only way to spend your spot-price bars is to exchange them for fiat at some point and spend the fiat. Goldbacks are a spendable gold currency tool. Gold jewelry has a premium over melt value, copper pipe has a premium over melt value, because labor added value...econ 101
You're buying make believe value that would only be realized in a fantasy "SHTF" scenario. It's about as sensible as surrendering half the value of my fiat to buy a currency that's useful only on the Trappist system planets. It's a great value....if I ever acquire a starship or find a wormhole to catapault me 40 light years....
i guess my first question here would be.. do you stack fiat currency? and if so why? i mean its a depreciating asset at best... why do most people keep cash on hand? because it is an accepted exchange of value... as more and more people and businesses are made aware of the purchasing value of goldbacks and that it is an actual currency as opposed to numbers in a ledger that are worth less and less everyday ... it's not meant to be stacked.. it's meant to be exchanged like a regular government minted paper dollar for goods and services
I would absolutely love to have 1 of each state and size and make a custom frame for them but i definitely won't be stacking or getting them to use, especially since im not in a area that would accept them as payment.
@ScottsdaleStacker yea I have alwayse been told to buy one oz or more at a time to avoid as much premium as possible. I can't afford such luxury in my life. So I don't hold but a tiny bit of gold.
@@ScorpionMetalsGoldbacks are the perfect gold product for the beginner and people on a limited budget. Physical gold for about $5. "Say ¥€$ to Goldbacks." - sykrist
Hi Scottsdale Stacker! I haven't invested much in goldbacks, they are beautiful though! BTW... I've subscribed to your channel! 😎It's interesting your LCS is willing to trade them up! (5-1's for a 5)
I love the concept of Goldbacks. For a shtf situation, I think they make more sense than silver or gold coins which have been heavily counterfeited. What is the premium on a $100 bill? As it's worth about 3% of what it once was, is it 97%? Pretty steep. I have some of these and verified I could spend 'em in and around NH (by doing it). They've gone up in value (exchange rate), albeit slowly, are easily added to the safe, highly transportable. Intend to get more.
Goldbacks are a great way to stack and preserve your wealth. I can't go into detail because youtube keeps thinking I'm spamming and deleting my comments. Anyways a lot is conveyed here but a lot is missed. Alpine G O L D/UPMA has all the info you need.
i'm thinking dimensions and weight of the individual piece of currency ... also with a 50 being 1/20th of an ounce and gold being $2588 today (9/13/24) thats like carrying a minimum of $130 bucks worth of gold if you had to dump it at spot that actually has around $250 dollars of buying power
You could have then stored by Alpine exchange. No charge and, when you want to withdraw, you can get any denominations. In Utah, there are over 300 retailers who use Goldbacks. Oh, to get 1s cheaper, buy 50s and have them exchanged.
@@vander9678 this is a good dividend but that is for cash not held gold. Getting 3.5% for something that otherwise sits in a vault is much better than what the vault is paying. Apples and oranges.
You know what's even better than goldbacks?? Gold shot/grain or silver shot / grain.. That's what I started with so I have very small fractional gold and silver without the premium..
@@xessq1 They have electronic devices nowadays that is like an x-ray for metals tells the exact metal content.. I can't remember off top of my head but I think it's called XRF spectrometer.. same machine most pawn shops and jewelry shops use.. but there are many methods to test precious metals like specific gravity test, acid test, some precious metals coins are even made with specific security features that are almost impossible to counterfeit.. The Britannia are one of my favorite! Or Gold backs and silverbacks have serial numbers.? There are many solutions to past issues with verifying precious metal content.
a year late but you have to shop around. right now the exchange rate on GB is 5.42. you can find them right now for 5.21 theres actual a reverse premium right now. not sure what it was back then as ive just started buying them but they instantly have more value than what Im paying for them. and unlike the dollar whos value goes down every day the gb will only go up. or at least maintain its value. Im converting about 25% of my income into GB right now. and trying to get local merchants to accept the physical gold. apmex has them right now at 5.44 per gb which still is a premium of like 2 cents. I can live with that
I'm Australian and I see big potential in these, It's real money you just have to readjust your thought process regarding the premium and think long term.
I stopped buying goldbacks, when i realized that the gild is permanent in the bill. So i started buying Karat Pay, Karat Bar, Gold 1/10th Gram Bar Notes. These are the shape of a dollar bill, but the 1/10 gold bar is present,, and can be removed if necessary. They cost more but i feel like its better than the goldback. Just my 2 cents
UPMA Stands for: United Precious Metals Association. If you have an existing stack, you can deposit. And barrow against it. gain interest at 2% - 3.5 % plus or minus the market. It’s genius. As far as gold backs go here’s my plan: physically hold the ones I believe will be collectible. Trade in my existing gold stack too UPMA and start “Vaulting” in precious metals, instead of banking in cash.
I actually don't have any of these. However i want to start collecting them. They are beautiful this might be a good way to barter if the US dollar is worthless. Or if you don't want to be tracked taxes and whatnot.
That is total BS. A 25GB costs $146 on Money Metals. With shipping and tax it’s $161. Yet, the 1/40th of an oz You n it is only worth $65 today (11/16/24). It only buys $65 worth of goods. How is that sensible to spend $161 for an instrument of payment that can only buy $65 worth of goods or services??
@@ScottsdaleStacker Bullion shop in Show Low Accepts them and sells them. Farmers market on Saturday has vendors accepting them. However, that said I agree with you on not widely used in Az as Az is not yet an issue state. South Dakota comes on line this year and I think Texas in 2024. I think if it as just another fractional product that could be used for barter like constitutional silver. I just commented originally because it seemed the video was just about premium. It is important to know what it was intended for. As I can sell my early ones back for more then I paid for them that makes me happy. You also briefly at the beginning mentioned the Silverback that was intended as a collectors item and not for stacking or using. As long as I can spend GB's for more then I buy them for I am happy.
Here's what I've read from posters. Women in California pays rent and buys groceries. Man in Arizona pays contractors in Goldbacks. Man bought his daughter a car with Goldbacks. Women in Florida says she will accept them at her business. An ACE hardware in Michigan accepts them and 23+ stores in Texas accept them. I've paid my lawn service in Goldbacks as well. Wherever you are, ask, "Will you take gold for that?" If they say yes, you're trading Goldbacks! So, carry your Goldbacks and show them around!
@@redshiftsyou are correct. It is easier in those states but there are plenty of people that have never heard of them even though I heard 3 radio commercials for them yesterday in Utah. My/our job is to change that. Carry some and show them around is my Motto
They aren't comparable to stacking. But they're additions to the interesting collectibles side of my table. I don't justify my "losses" on that side, and don't consider them investments.
The premiums matter to those saying it doesn’t. Sorry but they do. Because the second people choose to stop giving you the premium, it’s useless. Also there is ZERO justification that each denomination is 2x the worth. If manufacturing the 1/1000 cost $4.50 (roughly) covers the gold, process, profit, AND profit of the companies they sell through, there’s ZERO way the labor is linear just based on the gold count. There’s no reason it’s only $2 mark up removing the gold worth (roughly) for a 1/1000 but is magically $110 markup for a 50/1000. There is ZERO justification, the labor cost is not $108 more per bill.
I acquire them when buying silver, as a means to spend enough for free shipping. So if I am short of the free shipping threshold I may buy a few 1… to 3 or so. One reason I am ok having them is that gold projections are sizable enough to justify having some. So for example if gold runs to say 10k 20k or who knows as long as it goes beyond the 3,500 in the video presentation. The other reason is if everything collapses as many expect then they will have some value for small transactions or bartering etc. Now back to the free shipping when acquiring gold & silver stacking, if shipping savings is say 10 or 20 dollars then 2 or three goldbacks are effectively free. Another no brained “investment” (on total collapse scenario prep) is NICKELS thats right nickels! Year 2014 & earlier have a melt value greater than the face value! So when going to do your banking grab a roll or two. Remember in a meltdown scenario like U.S dollar collapse people will barter with practically anything … toilet paper goldbacks nickels are good to have for bartering. I think our dollar is about to loose reserve currency status & will drop dramatically so silver & gold metal for wealth preservation and smaller like nickels goldbacks toilet paper etc suddenly become of value for day to day bartering. (Check back in history of countries where currency collapses occur like Argentina, you’ll see the value of the oddest things for bartering)
I have personally never lost any money buying gold backs it has done its job by keeping up with inflation I can understand what your saying about the price but you also need to look at the gold and silvers fundamental value that’s the key part.😉
Holdbacks are currency. You are not supposed to stack them. You supposed to use them to put them in circulation. You don’t buy other currencies to stack them you buy them to use them.
Whenever I feel dumb for buying tenth oz coins, I am going to come here and watch the guy who is throwing 1.4 tenth oz coins in the trash for every 100 Goldbacks he buys.
Hey dude! It's Gilbert. We have a big misunderstanding on these guys. We honor the exchange rate on Goldbacks when you are shopping with us. So it would take you 522 Goldbacks to purchase a Buffalo at $2,108 with an average exchange rate at $4.04 as of today. Was wondering why I hadn't seen you haha
What matters is the that people are accepting them at the average market price. If you buy them through Alpine Gold (UMPA) you can generally get them just below average. The premium is based off the cost of manufacturing them. Just as if i where to buy a steel rod, you'll pay more than the spot of iron. As the iron has to be manufactured and worked to it's current form. And if you need a rod a clump of iron is not acceptable alternative. As for people complaining about. To my knowledge Goldbacks are the only modern gold products to build any sort of business network.
I look at goldbacks as pieces of gold. And it's the only affordable way to get into gold at this point. When it costs only $4.00 to get one. Compared to $200 for one gold coin. The choice is clear. Plus I'm looking to use goldbacks as dollars. The fiat currency is as end in its life cycle. And at some point, it's gonna be no more useful. It makes sense to get something that's in the dollar form that's actually gold.
Perhaps we can step back, and really discuss WHY there is such a value for gold… As the great Ron Paul said, “gold isn’t $2000/oz., the dollar is 1/2000 an ounce of gold. Certified Gold in any form will always have value. That being said, if it’s fractional currency you’re looking for, 90% silver is much more logical. An old Washington quarter is $3.50 of silver. A mercury dime is $1.75. A half dollar is around $7, and silver dollars hold around $18.00 in value. I could carry a pocketful of old silver coins and have a powerful spending position at fractions.
In my opinion... these will never be a thing, convincing 330 million people a private companies currency is what they should use... not going to happen! Plus what if other private companies start making currency... sounds like a big mess!
@@ScottsdaleStacker The Goldbacks have continued to go up in value since it started. The dollar keeps dying a slow death. I will continue to stack and win. Inflation is killing people who stay in the Dollar. Goldbacks are the future of sound money.
There are 3 African countries, the Cook Islands, 4 states plus 10-12 more coming. Businesses in the UK and Asia that accept Goldbacks too. Hold your horses. Multiple billions will be using Goldbacks. Early adopters will be sitting pretty before long…
They pay for themselves big time if sit on them an let them go up in valve then buy stuff with them I live in Nebraska an I bought 176.06 /32 lbs of beef with 33 gb an I bought them when they were $3 value an now spent them when they were 5.43 so I saved money when I bought beef
You could buy a lot more gold for a lot less money than when you buy goldbacks. I think it's just a way to turn $2,000 of gold into $4,000. Yes you are an idiot for buying goldbacks.
Fungible where? Among the tiny community of stackers who own them. Nowhere else. If you try fobbing these off on any normal person, they're going to ask what steampunk Monopoly set you got them from. Silver coins are incredibly fungible and have successfully addressed the fractional precious metal problem for about 5,000 years.
@@kenofken9458 But silver coins are heavy to carry around compared to goldbacks. The difference in weight can mean life and death when you have so many other things to have to carry with you. You want money to be as light as possible while still maintaining that fungibility and divisbility. And believe me, once there's a dollar collapse, everyone will be bartering and goldbacks will just be as valuable as silver coins. There's no need to limit yourself to just one form of money when they are all considered spendable money.
People managed with silver coins for thousands of years. Goldbacks also have a reputation for delicacy - damage from folding, de-lamination from dampness etc. Even for centuries before fiat, when money was metal based, people figured out very viable ways to avoid the nightmare logistics of transporting and guarding vast quantities of gold and silver - bills of exchange, promisory notes, other negotiable instruments etc. Those would all emerge again, because they worked. Goldbacks and most of the extreme forms of prepping are based on a scenario which, realistically, will not happen. We've had people telling us that an apocalypse was imminent for thousands of years. It has not happened. In the meantime, we have lots of challenges that have and will happen - inflation, recessions, job losses and lots of other personal financial challenges. The thousands of dollars people will spend buying make believe money that only benefits from the 0.0000001% probability event could have been used to prepare them for the real contingency events.
@@kenofken9458 There is nothing make believe about goldbacks. They are just gold inside a polymer film, so it's real money. You may not like the high premiums but it's not cheap to make them either. They use high end technology which is vacuum deposition to deposit a precise amount of gold sandwiched between polymers. And the equipment used to make these goldbacks are million dollar investments, so don't expect to pay lower premiums for them. As for damage, you should keep them in a wallet. They sell one for $25. It's high quality leather that is made to protect your goldbacks. I bought one to stash as much goldbacks as I can. Of course, they advise you not to bend them, so that's why you keep it in a special wallet that they designed for goldbacks. Speaking of transporting large amounts of gold and silver, name one example of what the ancient cultures would use because I don't see a way out on this issue. This is one of the main reasons why I support goldbacks. The weight factor is a big issue because every ounce matters when you are the guy who has to carry it in a bugout scenario. You can have some silver, but not very much. Silver is quite heavy to carry and I would not want to carry it if I had to leave my home behind. But with goldbacks, I can carry a lot more of it for the same amount of weight in silver. And that's because there's very little gold in goldbacks yet its even more divisible than even a silver coin. Probably as divisible as junk silver or constitutional silver. But in a much lighter package. I say that goldbacks are the winner in terms of divisibility, fungibility and weight combined. It's the best form factor of money that can be precisely divisible, yet lighter to have around than silver.
Jewlery has 700x premium . Gb has zero premium it has exchange rate above spot associated to cost of production as is with any fractional . Bullion has premiums you loose when you sell
Me personally I will not buy anywhere near an ounce or ever buy any denomination of goldback higher than 1 because the premium is too much for right now. When they start producing millions more and it gets so low then I'll buy bulk goldbacks.
@@thinkforyourself9311 I don't see how I'm wrong. Let's say you want to buy something that is less than $30 in value, goldbacks makes that purchase much easier than gold coins or gold bars. Even silver coins are not as convenient to break in half or in quarters if you want to spend in lower denominations.
Hi Bullion Breakdown! Yes, I don't see the value in them, they do have beautiful designs though! They would probably do better as a collectible! BTW... I've subscribed to your channel! 😎
Money, Please Forgive Me, You've Been Replaced! - The Goldback There’s a new money out there. It is 24k gold that you can carry with you wherever you go. It’s stronger than the dollar, which has been losing value as fast as they are being printed. You know, look at the price of gas, eggs, even housing. The dollar is weakening daily. The Goldback, on the other hand, has increased in value as the demand continues to rise. The goldback is the most important thing to happen to money in 6,000 years. It seems incredible that you can own gold for as little as $4.04. But it’s true. Even better, if you join the UPMA, United Precious Metals Association, you can buy Goldbacks for a 9.1% discount. Combined with the deflating dollar and your money is now worth 25% more. The Goldback, gold you can hold. Gold you can spend. Gold you can give. Gold you can use. Can you see yourself asking, “Will you take gold for that?” We can. The Goldback. The truth will set you free.
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
If you get a UPMA account, you can get Goldbacks for $3.65 per goldback. That ratio stays the same no matter what denomination you're buying. For example, one 25 would cost 25x3.65 for a total of $91.25.
As for premiums, the more fractional you go in any precious metal bullion and coins, the greater and greater the premiums will be and not in a flat line either. It gets rapidly more dramatic the smaller you get - but not with the Goldback. The premium is WAY below that trendline.
At $3.65 a Goldback, that means it will cost $3,650 to purchase one troy ounce of pure 24 karat gold. Compared to a gold buffalo - which I just found one for $2,060 - that means you're paying $1,590 more for the same melt value. Compared to the spot price which is $1,925 you're paying $1,725 extra which equates to a premium of 89.6%.
Now you may very well ask, why pay such a high premium? Because, as we all know - the melt value of coinage is not why we stack coins. At least, not all of us. Those that desire the closest to spot are best getting gold shot or large bars. But for extremely fractional gold that is nearly impossible to counterfeit, serialized, fungible, durable, beautiful, and easily tradable in small transactions - I think the premium is worth it.
And I haven't even mentioned the best part. The premium you pay covers the manufacturing costs, guarantees, and anticounterfeiting technology - but the premium is not lost like when you buy/sell from a coin shop. It is rather reclaimed upon using the Goldback in a transaction, because it's inherent utility gives it value equal to the premium.
If I buy a Goldback for $3.65, I can spend it for the current accepted trading rate which as we speak is $4.00. That means in addition to maintaining the premium and reclaiming it, I've made a net value gain of 8.75% for simply converting my empty currency into gold.
The last point won't remain the case forever.
@NayokeHenji NOTE to paragraph 3. You are correct that it would cost you $3,650 to purchase 1,000 One-Goldbacks or 1 Troy Oz gold. But If you want to convert it into gold here is how to do it. You contact the UPMA and convert your 1,000 Goldbacks into gold bullion, Gold Eagle. The UPMA purchases your Goldbacks at the daily price. $3.65 minus 5 basis points ($30.25) Which give you $3,650 to convert which equals 1.74 approximately in gold eagles through your UPMA account. So again much of the value in owning Goldbacks is in the utility. they are easily sold, traded, bartered, gifted even tipped. Use them and when you need to convert them. There is room for many uses when you hold Goldbacks. I hope that clears things up a bit.
I've done 50+ transactions now with Goldbacks. I've sold a ton, 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.
Currently I’m in New Mexico on business, not a Goldback issued state and I’ve sold and traded all 27 of the One-Goldbacks I had. Wherever you are and someone is willing to trade you for your Goldback you are good to go.
@@danielbbq exactly. 24KGold is 24Kgold, even if the origin is Zimbabwe. It represents its own built-in hedge against inflation and is also a near-perfect black-market currency. This is even more true now that it's available in the most convenient and fractionalized - and least-counterfeitable - form that the Goldback represents.
I'm in Canada, a country that, thanks to generations of political idiots and indoctrination, is now on the cusp of full-blown communism. Our dollar will soon be useless, cash will be replaced with digital currency that governments can access and seize without notice (as punishment and "cancellation" for speaking out against them) and millions will have no other choice but to barter amongst themselves to survive.
This is an environment in which Goldbacks can play a very important role. With Goldbacks we will not have to break out a gram scale to shave off a few flakes of 24K from that one-ounce gold buffalo we'd been hoarding in order to pay for a dozen eggs as was necessary in Venezuela.
a game of musical chairs with extra steps. Once a small group of people start to realize the premium is outrageously high and doesn't honor the 'official exchange rate', the noteholders will begin to panic, the bomb would burst and this whole thing would seen as a ponzi.
@@vander9678
Step 1. Show my Goldbacks.
Step 2. Trade Goldbacks for products or services.
Step 3. Ponzi exposed.
Does anyone else shake their head at these premium poo-pooers naivete? Everything has a premium on it. The retailer makes a minimum of 40% up to - 100%, the manufacturer looks for 100-200%. The premium on a soda is 3k - 8k% yet many still buy soda.
Did you know that you can lease back your Goldbacks?
Did you know you can transfer your Goldbacks, like Venmo?
Did you know that you can get a debit card and spend to the value of your vaulted Goldbacks?
Did you know that you can be your own banker when you own Goldbacks? You can borrow against your vaulted Goldbacks at only 2.4% APR. No bank or credit card can match that.
Did you know that the Goldback has doubled since 2019 and the dollar has lost nearly half its value?
Did you know that the Goldback is the most important gold news in 6,000 years.
Did you know that if you show your Goldbacks you can sell them for 35% more than you buy them for everyday of the week?
That's utility for sure.
Why yes, yes I do know :)
Except for borrowing against my GB's. I would definitely like to know more about that. I'm guessing the UPMA offers that? If so I'll have to give em a call.
I love my GB lease. It's great getting free GB's every month.
@@kivie13 yes, call the UPMA they can walk you through it. You can 1. get a loan at 2.4% or 2. get a Visa card and spend like cash. This is a better way to keep your cash than in dollars.
@@kivie13 Who do you lease through? Goldback themselves or UPMA, or someone else?
@@tecknows The UPMA. I get 2 percent, which admittedly isn't a lot, but it's free GB's deposited in my account every month and since I have GB's vaulted with them I may as well lease them. I believe they only have a limited amount of leases available so give them a call and ask if you are interested.
@@kivie13 I appreciate the information!
Goldbacks are definitely the future. Why? Because they are made out of gold. Gold is hoarded. Not consumed & depleted. I'd take it over the dollar any day. Just store them.
It is definitely one of the better options for barter.
I have 1200 goldbacks 300 of each state all in 1s . I have them incase shtf . I'm in AZ..Utah and Nevada are right next door. I like having them along with silver bars. You should have 100 goldbacks just for shtf.
new goal is 100 gold backs. different denomination. just because. even if the whole.thing folds. the collector value will have something. much more rare than typical mint stuff.
For those that get hung up on the premiums of the Goldback a little understanding is needed as you actually NEVER loose on the premium. This money is meant to be SPENT not SOLD. My last batch of GB's I bought for $3.66 the current exchange rate is about $4.00. This is hyper fractional gold that is meant to be spent. Goldbacks are a sound money and are meant to be circulated. There is a place for everything in a diversified portfolio. If we stay on the topic of premiums if you were to buy a 1oz. gold coin you pay a premium when you buy them and when you sell them. That said they have a place and should be part of everyones stacking goals.A lot of concern about CBDC's and Fiat currency and inflation but when shown an alternative they scoff. Just my .02. GB's are simply an alternative and the premiums are high but they are all recoverable. Spend them!
Excellent explanation ! ! , hope Scotsdale Stacker reads your comment over and over and over and then maybe he will see the light !
Thank you for your comment . I just pray that my beautifull state of Texas gets on board soon ! !
@@armand8322 if I’m not mistaken Texas is the issue for 2024. South Dakota will release by the end of 2023 if they stay on schedule.
@@JG-od3xy Already ordered South Dakota GB's. Now waiting on Texas GB's which is my home state.
Sounds like cope for for paying an 80% premium instead of a 3% for an ounce of gold
@@mergeads If you want spendable gold, then goldbacks bring divisibility that a troy ounce of gold cannot. How are you going to use gold to buy a pound of beef or a dozen of eggs? Cut off shavings of gold from a troy ounce gold coin? This is where the goldback really does well. Of course, the alternative would be to use silver coins but those will be a lot heavier to carry around than goldbacks.
One day you'll wish you bought more. Mark my words.
You could be right!
@@ScottsdaleStacker Wow I read back my comment and I sound like a total jerk lol. I apologise I'm half asleep and didn't read my own tone well.
@@NayokeHenji I didn’t take it that way, you are all good my friend. 🙏
They said the same thing about cow farts.
@@SecureInMyHead you're right, there's absolutely no difference between gold and cow farts.. 🙄
It may not be worth it ar the moment but I'd still like to have one of each from every state.
That was my original thinking. Then just hold on to them for awhile.
At minimum get a set from each state, first year issued, they are selling on eBay for $3,000+. And at that profit you should get 100 sets, no 1,000 sets.
And if you didn’t know, during COVID a one Goldback was selling for $50. So the next time SHTF you should have another 1,000 on hand. I sure will.
@@danielbbq 1,000 GB's is a lot. I just got started with 110. Maybe in the future, I might buy more. But at present, the prices have gone up. I remembered 3 days ago, the prices were much lower. If you buy large quantities, every penny increase in price is going to make a big difference. So it's just better to wait until prices have come down before buying more.
@@BrilloHeadyou'll be waiting for eternity. Stupid people waite, smart people buy
@@David-rz7jj You do your own thing, okay? You just fail to understand how much cheaper they were just back in mid December of 2023.
I bought at $3.50 and immediately started spending them at $4.00. I’m in Utah, it’s a no brainer! 😁
What do you consider a premium on the Goldback? I feel you misunderstand how the Goldback really works.
I love Goldbacks. I love to collect them all. I also tip with them. Where I live, we have many shops that will take them. I am not worried about those who wont take them I a excited to support those who will take them. There are great dealers that you can get them for great prices. Finest known is where I like to purchase them. I am not affiliated with them but I did a good amount of shopping and am happy with their services when it came to Goldbacks.
How do the shops that take them put a value on them? Do they calculate the actual gold value that they can contain or pay out a premium?
If they took them here in restaurants and stores. I would use them as my main form of currency. That is forsure!
@@cryptkeeper4507 They should be using the current exchange rate which is posted on the GB website, or around that amount. When it comes down to it, the market decides what they are worth. If you want to pay in GB's but the business owner is trying to scam you by only accepting them at spot value don't pay in GB's or go somewhere else. Edit: Goldbacks have a utility value that for some reason stackers can't seem to wrap their head around and are stuck on spot price. The utility value includes the premium just like your car is worth more than its scrap value.
Since I have a GB account at the UPMA I personally am good with whatever their current market value is which is always lower than the exchange rate, at least for now. I stack at home and vault with UPMA and don't live in a state that has them (yet) so I don't try to spend them. The reason I stack is because I can sell them at current market minus 5 percent to the UPMA or Defy the Grid which is a heck of a lot better than any other fractional and the stacker also can't seem to learn that fact no matter how much I tell them.
You have utterly missed the point of goldbacks.
I dont think its stupid, these will always be getting closer to the value you paid for them year on year, they wont be losing value. Whereas people buy overpriced stuff that loses value all the time, like cars or wives for example.
😳 "wives" 🤣🤣🤣🤣👌
@Ron4885 🤔 correct, a wife's value inviably decreases as she ages, a husband's value normally increases. At least men have the choice to improve. Women just devalue, and are more likely than men to become over inflated too. Estrogen gives them longevity though I guess 🤷
I just bought. $5 goldback for $16.... not sure if I did alright?
APMEX is selling them for $18. The premium even at $16 for a 5 dollar goldback is high.
@ScottsdaleStacker Yeah you're right. At $3200 that is high, but I just wanted to have one in the stack.
I Love the Goldback. The future of sound money.
Anything is better than worthless paper!
Curious then that the people selling them are ever so happy to accept mountains of that "worthless paper".
Wake me when petroleum is priced in goldbacks...
It was really hard to hear them called "Goldbucks" the whole time. If your goal is to get gold at or near spot then Goldbacks aren't for you. If your goal is to use gold as money then there is nothing better out there.
bitcoin exists lol
@@vander9678 😂😂😂Guy brought up bitcoin
you literally have premiums higher on gold in pawn brokers and gold sellers. gold coins are easily faked. the fact goldbacks are form of physical form of currency in fractional gold to use in transactions in private transactions is what makes it valuable. to be honest, when i hear gold stackers and silver stackers talk and complain about premiums i roll my eyes as a 3rd party looking in. Its called the sale value, the labor that makes the coin and the gold bars. its the same with the goldbacks. Its to also be designed as utility to purchase and trade. Also, its fractional gold which is easier for the affordability to stack over time. also why are you purchasing gold coins in the $2000 that you can lose? Average folks will use the gold backs to help with saving their wealth on the side. I cant understand the lack of logic on most of the gold collectors. of course your never gonna buy at spot price, theirs labor value that is put into the creation of it. Your investing in a fractional gold currency thats interchangeable and to create more into circulation backed on actual gold that's actual gold. Its literally gold that can fit in your wallet and can stack more gold into your safe due to its flatness. Seriously, the whole point is to treat gold as money. the dollar used to be a bank note backed on gold and or silver. back in the old days you could trade in your dollar for silver and or gold cause it was a note guaranteed to trade in for gold or silver. Now it fiat and changes chaotically. gold is gold and is the actual money. Treat gold like money. if you want the spot price then mine the gold and smelt it oneself. oh my, mining would increase the value of the Sale price. I swear they need to get rid of the term premium cause its like a fancied word to trick you all by pretending its not the sale price.
Better to give the percentage premium over spot to give a better idea of where these notes sit on price of ownership really.
You make it sound as if the only thing to buy is 1 oz coins. Do you then tell people to ONLY buy 1oz coins and ignore the smaller coins because of the premium? This completely ignores there are larger and larger premiums the smaller the coin so they are not exempt from high premiums yet goldbacks are reamed for having them even though they are even smaller which logic would dictate the premium continues to go up. And how would you spend such denominations from 1/10th oz(currently $320) on up to 1 oz? Are you going to shave off flecks of gold? Are you going to get 15 haircuts at one time for 1/10th of an ounce? What about people that can't afford $2000? And yes, I know there is silver but your comparison is goldback vs 1oz premiums so we are sticking with gold. What if they don't have even $300? At least with goldbacks they can buy SMALL and USEABLE denominations, say $50/ month. At least this gets people of lower economic means into gold and don't we want that to spread? The concept of sound money. Why chase people away?
This is even completely ignoring that for the most part that premium follows from transaction to transaction so you are losing nothing. It definitely does in the 5 states it is issued and with businesses that display the goldback signs. i.e. As of right now, in one of those states, 1GB will get you about $5 worth of goods or services. In other states, many(definitely not a majority yet) will accept the dollar value premium not just the melt value once you talk to them and show them the website and how GBs work.
-What is the melt value of copper in your alternator? Do you tell the auto parts store that is a high premium for only a few dollars of copper or are you paying for the utility?
-What is the melt value of the dollar?
-A $100 dollar bill costs 8 cents to make yet no one complains about that premium and that value has been going down since 1913 and continues today while gold buys the same.
One other thing to consider is the artwork artists. What if they become more famous? Could the goldbacks also have a value in the art?
Possibly if it was original art. Mass produced printings are not worth as much as originals.
@@ScottsdaleStacker But the series is only 4 years old. I see signatures on all of them. Not sure who they are or are they famous.
The earlier GBs have increased in numismatic value since the artwork has been upgraded. Go to Defy the Grid and look at how much they are selling their early GBs for compared to brand new ones. If you have early ones definitely hold on to them if you can and sell/spend the new ones if you want to use them.
That why I like them for the artwork. And like with coins there is a collector value I think.
My GBs are up by average 20%. How is your fiat doing? GBs are for spending.
20%? They will need to double before you even break even.
My fiat has lost about half its value in 25 years. You lost half within the minute or so it took you to buy the goldback.
@@kenofken9458 I'm not looking for a profit. But if my purchase power goes up, bully for me.
I don't think so. It is a way to stack! I like em. I don't really buy them but they have a great purpose!
Good intentions aside, you end up loosing too much money.
Please do some more research on the Goldback. You’re not fully understanding...Users value Goldbacks by utility not weight. The only way you suffer a premium loss is if you buy/sell to a retail shop. Buy wholesale $3.70, sell/trade/barter at $4.04 or at retail $5. Where is the loss?
@ScottsdaleStacker how is "money" (value? Fiat?) lost exactly? Are you seeing the free market value of goldbacks decline at a rate more than gold? Do you think the only value of a tool is the value of each individual raw commodity that makes it up? Do people who buy valuable gold jewelry usually take a loss when reselling years later because of the "premium" over melt value?
I rather shop at stores that take them as currency. It’s a great way to help small businesses and to fight back against the federal reserve that took gold out of the monetary system. I wonder if Russia would take these
i wonder why you are wondering why you might spend money in russia
How do you authentic a gold back? Just a whole lot of trust
I paid a huge premium on my car - I could have bought a chunk of metal and plastic at melt value - but I can't drive hunk of metal and plastic. Some people just don't understand what's unique about the Goldback and the importance of utility value. I can buy a loaf of bread with a goldback, but what are you going to buy with a gold Buffalo? I live in Hawaii, do any businesses accept Goldbacks here? Absolutely none, and that doesn't bother me because that's my job to offer the Goldback as payment because the Goldback is not for people that accept obstacles. Look at it this way: Suppose the Wright Brothers gave up on the airplane and cited the reason as there are no airports, or Henry Ford gave up on cars because there's no place to drive them? They didn't because they had a vision. Similarly, the Goldback is also for people with Vision, who want to do their part to introduce sound money to the world. I bought all my Goldbacks at an average price of about $3.80 from the vendors listed on the Goldback website, but the premium won't matter when the price of Gold doubles. The Goldback was selling for half of what it is today just a couple years ago. The Goldback is for people who are self starters with vision, not your ordinary stacker.
Great post! Most people in the precious metals space just don't understand about these things, and get totally hung up about the "premium." I've taken the double approach of having most of my funds in Alpine Gold and backed by GB's, while at the same time buying as many GBs to hold as I can afford on a regular basis.
Great post. All true. You’ve inspired me:
A major hurdle for stackers is the “said premium” of the goldback. Yes, there is a premium and in pure melt value it is high but just like a 2014-W 1 oz Proof American Gold Eagle PR-70 PCGS that is selling for $3,759 doesn’t make it unreasonably excessive to the collector. So does the ease of use, the readiness to accept as money and the gold content, make the Goldback a viable solution to our money problems. Or at least it is the best thing yet.
The open-minded, early-adopter or entrepreneurial stackers that purchased goldbacks at $2.25 in 2019 realized 2122.22% increase in value when the SHTF happened, during covid, when they were selling for $50 ea.
With 20x more usability, the high demand for the goldback alone justifies the market price. $4.05. When SHTF happens again what will the value of the goldback be? Based on history, the goldback will sell for 733% higher than the retail value at the current highest retail price, $6 ea ($50 ea.). The savvy stacker can buy one goldback for 62% less than the retail price today ($3.70), realizing 1,251% increase during the next SHTF, unless it is worse…. When has gold ever demanded such a profit? Only when held for 50ish years. As for me and my stack, I’ll have a good wad of goldbacks in conjunction with my gold and silver stacks.
BTW, first edition goldbacks are already collectables, demanding 362%+ at today’s market. Do I need to expound on the potential value of stacking every state’s first editions when they come out? I think not.
Imagine what the value would be if Goldback, inc went out of business. These novelty, collector pieces would skyrocket in value. Just one more reason to have a stack. Let’s call it a “collectors stack!”
Oscar Wilde must have envisioned the internet when he said, "And he goes through life, his mouth open, and his mind closed."
I know you don’t need an open mind if you have all of the answers. We've been convinced that having an option is essential even if there is no evidence to form one on. It's classic confirmation bias.
I look forward to the time when doubters acknowledge their doubts and allow others to form their own informed opinions. And if the Goldback never takes off I'll continue to sell, trade, and barter them for more than I paid for them and be happy at that.
Not sure why premiums are an issue here. You're not "losing money", youre buying the added utility value. In a hyperinflationary event, how would you buy milk and eggs with your gold eagles? Shave slivers off? Would anyone accept that? Its such a strange mentality that stackers buy gold as an inflation hedge, but only do so in an impractical, non-spendable way. The only way to spend your spot-price bars is to exchange them for fiat at some point and spend the fiat. Goldbacks are a spendable gold currency tool. Gold jewelry has a premium over melt value, copper pipe has a premium over melt value, because labor added value...econ 101
You're buying make believe value that would only be realized in a fantasy "SHTF" scenario.
It's about as sensible as surrendering half the value of my fiat to buy a currency that's useful only on the Trappist system planets.
It's a great value....if I ever acquire a starship or find a wormhole to catapault me 40 light years....
Did you know you can transfer your Goldbacks, like Venmo? 😮😮
i guess my first question here would be.. do you stack fiat currency? and if so why? i mean its a depreciating asset at best... why do most people keep cash on hand? because it is an accepted exchange of value... as more and more people and businesses are made aware of the purchasing value of goldbacks and that it is an actual currency as opposed to numbers in a ledger that are worth less and less everyday ... it's not meant to be stacked.. it's meant to be exchanged like a regular government minted paper dollar for goods and services
I would absolutely love to have 1 of each state and size and make a custom frame for them but i definitely won't be stacking or getting them to use, especially since im not in a area that would accept them as payment.
I think they are kind of a cool idea but after a certain amount just start buying valcambi bars and fractional gold...
You could have then stored by Alpine exchange. No charge and, when you want to withdraw, you can get any denominations.
I hope they somehow take off but I'm not expecting them to. Having said that I'd like to own a full set of each because I think they're cool.
And there is alwayse a higher premium the smaller you buy in.
Even if you only buy largest $50 goldbacks you end up loosing almost $2k per Troy ounce.
@ScottsdaleStacker yea I have alwayse been told to buy one oz or more at a time to avoid as much premium as possible. I can't afford such luxury in my life. So I don't hold but a tiny bit of gold.
@@ScottsdaleStacker- You ain't got a clue
@@ScorpionMetalsGoldbacks are the perfect gold product for the beginner and people on a limited budget. Physical gold for about $5.
"Say ¥€$ to Goldbacks." - sykrist
Hi Scottsdale Stacker! I haven't invested much in goldbacks, they are beautiful though! BTW... I've subscribed to your channel! 😎It's interesting your LCS is willing to trade them up! (5-1's for a 5)
Goldbacks are completely fungible. 5 - 1-Goldbacks equals a 5-Goldback, 5 - 5-Goldbacks equals a 25-Goldback. 50 - 1-Goldbacks equals a 50-Goldback.
@@danielbbq Right, at first the math didn't look right! It makes more sense now. Thanks! 😎
I love the concept of Goldbacks. For a shtf situation, I think they make more sense than silver or gold coins which have been heavily counterfeited. What is the premium on a $100 bill? As it's worth about 3% of what it once was, is it 97%? Pretty steep. I have some of these and verified I could spend 'em in and around NH (by doing it). They've gone up in value (exchange rate), albeit slowly, are easily added to the safe, highly transportable. Intend to get more.
Goldbacks are a great way to stack and preserve your wealth. I can't go into detail because youtube keeps thinking I'm spamming and deleting my comments. Anyways a lot is conveyed here but a lot is missed. Alpine G O L D/UPMA has all the info you need.
Lost your credibility after “goldbacks are a great way to stack”.
@@slapdat.byteme Got anything to back that up?
@@slapdat.byteme Any why is that? Plz explain.
They stop at 50 why.
i'm thinking dimensions and weight of the individual piece of currency ... also with a 50 being 1/20th of an ounce and gold being $2588 today (9/13/24) thats like carrying a minimum of $130 bucks worth of gold if you had to dump it at spot that actually has around $250 dollars of buying power
You could have then stored by Alpine exchange. No charge and, when you want to withdraw, you can get any denominations. In Utah, there are over 300 retailers who use Goldbacks. Oh, to get 1s cheaper, buy 50s and have them exchanged.
Did you know that you can lease back your Goldbacks?
😮
Im gonna be real, 3.5% max is terrible. Do you know that $JEPI has a 10% annual dividend?
@@vander9678 this is a good dividend but that is for cash not held gold. Getting 3.5% for something that otherwise sits in a vault is much better than what the vault is paying. Apples and oranges.
You know what's even better than goldbacks?? Gold shot/grain or silver shot / grain.. That's what I started with so I have very small fractional gold and silver without the premium..
as a merchant like a restaurant how do i know that little ricegrain looking thing is real gold?
@@xessq1 They have electronic devices nowadays that is like an x-ray for metals tells the exact metal content.. I can't remember off top of my head but I think it's called XRF spectrometer.. same machine most pawn shops and jewelry shops use.. but there are many methods to test precious metals like specific gravity test, acid test, some precious metals coins are even made with specific security features that are almost impossible to counterfeit.. The Britannia are one of my favorite! Or Gold backs and silverbacks have serial numbers.? There are many solutions to past issues with verifying precious metal content.
@@xessq1 XRF spectrometer.
@@danielkurek7009Thermo Fisher Scientific..... We do not recommend using portable XRF analysis on gold-filled jewelry, gold bars, and bullions.
Did you know that you can get a debit card and spend to the value of your vaulted Goldbacks? 😮😮😮
a year late but you have to shop around. right now the exchange rate on GB is 5.42. you can find them right now for 5.21 theres actual a reverse premium right now. not sure what it was back then as ive just started buying them but they instantly have more value than what Im paying for them. and unlike the dollar whos value goes down every day the gb will only go up. or at least maintain its value. Im converting about 25% of my income into GB right now. and trying to get local merchants to accept the physical gold. apmex has them right now at 5.44 per gb which still is a premium of like 2 cents. I can live with that
I'm Australian and I see big potential in these, It's real money you just have to readjust your thought process regarding the premium and think long term.
Great name, I love Scottsdale mint. New sub , great video👍🏻👍🏻
I stopped buying goldbacks, when i realized that the gild is permanent in the bill. So i started buying Karat Pay, Karat Bar, Gold 1/10th Gram Bar Notes. These are the shape of a dollar bill, but the 1/10 gold bar is present,, and can be removed if necessary. They cost more but i feel like its better than the goldback. Just my 2 cents
Thanks for sharing, I'll just buy a few to have around, but how disappointing that the premium is to high
UPMA Stands for: United Precious Metals Association.
If you have an existing stack, you can deposit. And barrow against it. gain interest at 2% - 3.5 % plus or minus the market. It’s genius.
As far as gold backs go here’s my plan: physically hold the ones I believe will be collectible. Trade in my existing gold stack too UPMA and start “Vaulting” in precious metals, instead of banking in cash.
I actually don't have any of these. However i want to start collecting them. They are beautiful this might be a good way to barter if the US dollar is worthless. Or if you don't want to be tracked taxes and whatnot.
That is total BS. A 25GB costs $146 on Money Metals. With shipping and tax it’s $161. Yet, the 1/40th of an oz You n it is only worth $65 today (11/16/24). It only buys $65 worth of goods. How is that sensible to spend $161 for an instrument of payment that can only buy $65 worth of goods or services??
Again not for stacking but for spending
If all businesses took them, I’d understand. But here in Arizona. Not a single store takes them. And only one coin shop I found even carries them.
@@ScottsdaleStacker Bullion shop in Show Low Accepts them and sells them. Farmers market on Saturday has vendors accepting them. However, that said I agree with you on not widely used in Az as Az is not yet an issue state. South Dakota comes on line this year and I think Texas in 2024. I think if it as just another fractional product that could be used for barter like constitutional silver. I just commented originally because it seemed the video was just about premium. It is important to know what it was intended for. As I can sell my early ones back for more then I paid for them that makes me happy. You also briefly at the beginning mentioned the Silverback that was intended as a collectors item and not for stacking or using. As long as I can spend GB's for more then I buy them for I am happy.
Here's what I've read from posters. Women in California pays rent and buys groceries. Man in Arizona pays contractors in Goldbacks. Man bought his daughter a car with Goldbacks. Women in Florida says she will accept them at her business. An ACE hardware in Michigan accepts them and 23+ stores in Texas accept them. I've paid my lawn service in Goldbacks as well.
Wherever you are, ask, "Will you take gold for that?" If they say yes, you're trading Goldbacks! So, carry your Goldbacks and show them around!
@@danielbbq Of course living in what of the issue states would be best.
@@redshiftsyou are correct. It is easier in those states but there are plenty of people that have never heard of them even though I heard 3 radio commercials for them yesterday in Utah.
My/our job is to change that. Carry some and show them around is my Motto
to each their own
So true.
They aren't comparable to stacking. But they're additions to the interesting collectibles side of my table.
I don't justify my "losses" on that side, and don't consider them investments.
The premiums matter to those saying it doesn’t. Sorry but they do. Because the second people choose to stop giving you the premium, it’s useless. Also there is ZERO justification that each denomination is 2x the worth. If manufacturing the 1/1000 cost $4.50 (roughly) covers the gold, process, profit, AND profit of the companies they sell through, there’s ZERO way the labor is linear just based on the gold count. There’s no reason it’s only $2 mark up removing the gold worth (roughly) for a 1/1000 but is magically $110 markup for a 50/1000. There is ZERO justification, the labor cost is not $108 more per bill.
They are difficult to sell in my personal experience
I acquire them when buying silver, as a means to spend enough for free shipping. So if I am short of the free shipping threshold I may buy a few 1… to 3 or so. One reason I am ok having them is that gold projections are sizable enough to justify having some. So for example if gold runs to say 10k 20k or who knows as long as it goes beyond the 3,500 in the video presentation. The other reason is if everything collapses as many expect then they will have some value for small transactions or bartering etc. Now back to the free shipping when acquiring gold & silver stacking, if shipping savings is say 10 or 20 dollars then 2 or three goldbacks are effectively free. Another no brained “investment” (on total collapse scenario prep) is NICKELS thats right nickels! Year 2014 & earlier have a melt value greater than the face value! So when going to do your banking grab a roll or two. Remember in a meltdown scenario like U.S dollar collapse people will barter with practically anything … toilet paper goldbacks nickels are good to have for bartering. I think our dollar is about to loose reserve currency status & will drop dramatically so silver & gold metal for wealth preservation and smaller like nickels goldbacks toilet paper etc suddenly become of value for day to day bartering. (Check back in history of countries where currency collapses occur like Argentina, you’ll see the value of the oddest things for bartering)
People melting copper pennies - I love hearing that - as I am also a collector of pennies and the more melted the better for those left.
I am brand new to stacking. I havent even started to be honest but the goldbacks 5-50 make sense. Buy them, put them away for the worst of times.
I have personally never lost any money buying gold backs it has done its job by keeping up with inflation I can understand what your saying about the price but you also need to look at the gold and silvers fundamental value that’s the key part.😉
you're smart for buying goldbacks, definitely not an idiot
Holdbacks are currency. You are not supposed to stack them. You supposed to use them to put them in circulation. You don’t buy other currencies to stack them you buy them to use them.
I just want some because of the cool artwork. I want one from every state.
They are nice but the most expensive way to accumulate.
True, and the money you loose is crazy.
You only lose $30.25 on converting 1,000 Goldbacks to 1.74 oz Gold Eagles. No big loss if you do your research!
The purpose is NOT to accumulate. It is to work on replacing the dollar fiat.
You are missing the point completely. A Goldback is money. It's money because I say it's money. And if you say it's money, then we agree. It's money.
Whenever I feel dumb for buying tenth oz coins, I am going to come here and watch the guy who is throwing 1.4 tenth oz coins in the trash for every 100 Goldbacks he buys.
No, you're not stupid. Keep buying them. They will be our next currency.
Gold Bucks? no wonder your confused bro.
Thanks for the math.
Hey dude! It's Gilbert. We have a big misunderstanding on these guys. We honor the exchange rate on Goldbacks when you are shopping with us. So it would take you 522 Goldbacks to purchase a Buffalo at $2,108 with an average exchange rate at $4.04 as of today. Was wondering why I hadn't seen you haha
What matters is the that people are accepting them at the average market price. If you buy them through Alpine Gold (UMPA) you can generally get them just below average.
The premium is based off the cost of manufacturing them. Just as if i where to buy a steel rod, you'll pay more than the spot of iron. As the iron has to be manufactured and worked to it's current form. And if you need a rod a clump of iron is not acceptable alternative.
As for people complaining about. To my knowledge Goldbacks are the only modern gold products to build any sort of business network.
I have seen first year of production 2019 Goldbacks sell at a much higher premium on eBay.
For the future but only in their infancy at the current time. Eventually will include gold $100, $200, $500, and $1000.
I look at goldbacks as pieces of gold. And it's the only affordable way to get into gold at this point. When it costs only $4.00 to get one. Compared to $200 for one gold coin. The choice is clear. Plus I'm looking to use goldbacks as dollars. The fiat currency is as end in its life cycle. And at some point, it's gonna be no more useful. It makes sense to get something that's in the dollar form that's actually gold.
The smaller denomination Goldbacks make sense. Not the bigger ones. Better off getting 1/10 gold coin instead of a 50 Goldback. Easier to liquidate.
@davidortiz3094 I could do that. But I can only 2 to 300 a month on PM. A 1/10th coin would take most of that. And I want to get 100 worth of silver.
Perhaps we can step back, and really discuss WHY there is such a value for gold…
As the great Ron Paul said, “gold isn’t $2000/oz., the dollar is 1/2000 an ounce of gold. Certified Gold in any form will always have value.
That being said, if it’s fractional currency you’re looking for, 90% silver is much more logical. An old Washington quarter is $3.50 of silver. A mercury dime is $1.75. A half dollar is around $7, and silver dollars hold around $18.00 in value. I could carry a pocketful of old silver coins and have a powerful spending position at fractions.
and there is a finite amount of junk silver.. there will NEVER be more than there is today ... so what happens if and when it is all "bought"?
@@xessq1 then everything skyrockets in value supply/demand
Absolute waste of money as we move towards a increasingly cashless world.
This are a great novilty item to get the kids, the next generation to become Stack ers at a young age. They look great too❤
Could I please have my cards back
Hey, it drives up the price of gold. I'm a fan of that.
In my opinion... these will never be a thing, convincing 330 million people a private companies currency is what they should use... not going to happen! Plus what if other private companies start making currency... sounds like a big mess!
Agreed. If the premium was much smaller maybe. But it’s just too high.
@@ScottsdaleStacker The Goldbacks have continued to go up in value since it started. The dollar keeps dying a slow death. I will continue to stack and win. Inflation is killing people who stay in the Dollar. Goldbacks are the future of sound money.
They already do its callled crypto
There are 3 African countries, the Cook Islands, 4 states plus 10-12 more coming. Businesses in the UK and Asia that accept Goldbacks too. Hold your horses. Multiple billions will be using Goldbacks. Early adopters will be sitting pretty before long…
Over 1mm people have purchased them. I've sold over 100 at a profit just because people think they are cool.
You have to be a pioneer to buy these with faith. A lot of pioneers got shot by Indians. Hope it works out, I will watch from the sidelines.
They pay for themselves big time if sit on them an let them go up in valve then buy stuff with them I live in Nebraska an I bought 176.06 /32 lbs of beef with 33 gb an I bought them when they were $3 value an now spent them when they were 5.43 so I saved money when I bought beef
1000 gold bucks... you have 59
.059 troy ounce
I mean it a new technology, and might be a alternative to coins.
You looked into them and still don't have a clue.
Yes I would not buy them but I'm in Canada though....
I'd rather have the gold and not some film of embedded gold that you cannot appreciate.
gold bucks 🥇 is only good trading 10years after its purchase value....
Your a fool for trading goldbacks for gold....goldbacks are much more valuable than gold. If you trade...you lost a lot of money.
So many other things to buy. You can't authentic them no ping no weight
Hide one of the 1 goldbacks 🎫 in a chocolate bar 🍫
You could buy a lot more gold for a lot less money than when you buy goldbacks. I think it's just a way to turn $2,000 of gold into $4,000. Yes you are an idiot for buying goldbacks.
Not really. Goldbacks are very fungible, which is not the case for coins or bars.
Fungible where? Among the tiny community of stackers who own them. Nowhere else.
If you try fobbing these off on any normal person, they're going to ask what steampunk Monopoly set you got them from.
Silver coins are incredibly fungible and have successfully addressed the fractional precious metal problem for about 5,000 years.
@@kenofken9458 But silver coins are heavy to carry around compared to goldbacks. The difference in weight can mean life and death when you have so many other things to have to carry with you. You want money to be as light as possible while still maintaining that fungibility and divisbility. And believe me, once there's a dollar collapse, everyone will be bartering and goldbacks will just be as valuable as silver coins. There's no need to limit yourself to just one form of money when they are all considered spendable money.
People managed with silver coins for thousands of years. Goldbacks also have a reputation for delicacy - damage from folding, de-lamination from dampness etc.
Even for centuries before fiat, when money was metal based, people figured out very viable ways to avoid the nightmare logistics of transporting and guarding vast quantities of gold and silver - bills of exchange, promisory notes, other negotiable instruments etc. Those would all emerge again, because they worked.
Goldbacks and most of the extreme forms of prepping are based on a scenario which, realistically, will not happen. We've had people telling us that an apocalypse was imminent for thousands of years. It has not happened.
In the meantime, we have lots of challenges that have and will happen - inflation, recessions, job losses and lots of other personal financial challenges. The thousands of dollars people will spend buying make believe money that only benefits from the 0.0000001% probability event could have been used to prepare them for the real contingency events.
@@kenofken9458 There is nothing make believe about goldbacks. They are just gold inside a polymer film, so it's real money. You may not like the high premiums but it's not cheap to make them either. They use high end technology which is vacuum deposition to deposit a precise amount of gold sandwiched between polymers. And the equipment used to make these goldbacks are million dollar investments, so don't expect to pay lower premiums for them.
As for damage, you should keep them in a wallet. They sell one for $25. It's high quality leather that is made to protect your goldbacks. I bought one to stash as much goldbacks as I can. Of course, they advise you not to bend them, so that's why you keep it in a special wallet that they designed for goldbacks.
Speaking of transporting large amounts of gold and silver, name one example of what the ancient cultures would use because I don't see a way out on this issue. This is one of the main reasons why I support goldbacks. The weight factor is a big issue because every ounce matters when you are the guy who has to carry it in a bugout scenario. You can have some silver, but not very much. Silver is quite heavy to carry and I would not want to carry it if I had to leave my home behind. But with goldbacks, I can carry a lot more of it for the same amount of weight in silver. And that's because there's very little gold in goldbacks yet its even more divisible than even a silver coin. Probably as divisible as junk silver or constitutional silver. But in a much lighter package. I say that goldbacks are the winner in terms of divisibility, fungibility and weight combined. It's the best form factor of money that can be precisely divisible, yet lighter to have around than silver.
Cool does count for something. Buy gold coins. Then you really got something
Buy an ounce of gold and trade it in for godbacks
Yes
Jewlery has 700x premium . Gb has zero premium it has exchange rate above spot associated to cost of production as is with any fractional . Bullion has premiums you loose when you sell
Fools gold I rather buy gold or silver bars, sod this
By the looks of your fingers I know i'm dealing with an idiot. Won't watch another second
Do you pay a premium for dollars? No. So why should you pay a premium for Goldbacks?
Me personally I will not buy anywhere near an ounce or ever buy any denomination of goldback higher than 1 because the premium is too much for right now.
When they start producing millions more and it gets so low then I'll buy bulk goldbacks.
I would say it wasn’t a smart purchase. But people do stupid things all the time. So welcome to the club.
I disagree. Goldbacks are very fungible, which is not the case for coins or bars.
@@BrilloHead you’re more than welcome to disagree, but that doesn’t mean you are right.
@@thinkforyourself9311 I don't see how I'm wrong. Let's say you want to buy something that is less than $30 in value, goldbacks makes that purchase much easier than gold coins or gold bars. Even silver coins are not as convenient to break in half or in quarters if you want to spend in lower denominations.
You don't need to break silver coins in pieces for fractional values. Mercury dimes serve the role just fine.
@@kenofken9458 So are goldbacks. Fractional gold have high premiums too.
Stack Goldbacks? Rather stack monopoly money.
I don't buy them.
I’m done with them myself.
@@ScottsdaleStacker - LOL, good
run away from these......as fast as you can, like Forest Gump "fast".
Hard "No" from this stackers pov..
Lol I’m going to be trading mine in. Needed them for the video 😂
Hi Bullion Breakdown! Yes, I don't see the value in them, they do have beautiful designs though! They would probably do better as a collectible! BTW... I've subscribed to your channel! 😎
@@LegacyStacker agreed re: design.... fair point!!
Money, Please Forgive Me, You've Been Replaced!
- The Goldback
There’s a new money out there. It is 24k gold that you can carry with you wherever you go. It’s stronger than the dollar, which has been losing value as fast as they are being printed. You know, look at the price of gas, eggs, even housing. The dollar is weakening daily.
The Goldback, on the other hand, has increased in value as the demand continues to rise. The goldback is the most important thing to happen to money in 6,000 years.
It seems incredible that you can own gold for as little as $4.04. But it’s true. Even better, if you join the UPMA, United Precious Metals Association, you can buy Goldbacks for a 9.1% discount. Combined with the deflating dollar and your money is now worth 25% more.
The Goldback, gold you can hold. Gold you can spend. Gold you can give. Gold you can use. Can you see yourself asking, “Will you take gold for that?” We can. The Goldback.
The truth will set you free.
LOL - Good. The world needs followers of P T Barnum for the comedy they are stuck in.