Introducing the Utah Goldback
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- Опубликовано: 18 окт 2024
- For all of human history gold has never been convenient for purchasing a single loaf of bread or a dozen eggs. Retailing around $2, the 1/1000th of an ounce Goldback changes the world of sound money forever.
The Goldback was created to be used as a local currency in Utah and may be used as a barter currency everywhere else. The Utah Goldback program will be more formally launched on September 29th of 2019 however, the first Goldbacks are being sold before then.
For more information check Here:
www.upma.org/n...
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Awesome. I did alot of work on local currencies in Baltimore. B-Notes, all a corrupt ponzi scheme. Glad to see a local currency with real backing!
One of the things i worked on was building a map and supply chain for businesses to use to buy from eachother also using local currency. Have you considered this?
I just collected the 1st release 2019 Utah 1, 5, 10 and 25 Notes. All I need to complete the set is the 2919 50note, but the only 50notes I can find for sale are being sold for thousands of dollars, way over priced. This is gonna take forever.....lol
Greetings from Louisiana, just got mine in the mail today.
I'd love to know how can I get some of these here in NZ.
THEY ARE AMAZING and the entire world should be using this.
#globalgoldstandard
keep up the good work! Looking forward to these!
Once these come to Canada I'm buying some! Will talk to small businesses about it to spread the word!
Greetings from New York!! I’ve purchase a lil over 2k of these bad boys and they are just awesome!! The fun part comes when you start bartering with them and opening peoples eyes regarding fiat vs fractional gold.
This is the future of money
January 2 2021 i just learned of this.
2nite radio program: "caravan 2 midnight" interesting
hooe it catches on & becomes mainstream everywhere in USA
I've just got my free goldback at our mailbox yesterday thank you it's so cool 😊
I got my free gold back in the mail today, I want to buy the $5 and $10 notes
Did you have to do anything other than sign up? I made a account but see nothing about free goldback after that
@@BigDaddyJL89 u get urs?
Signed up about 7-10 days ago and just received my free $1 gold back in the mail. Want to start buying into these while stacking other gold/silver. Wish they’d make sone silverbacks too.
What if I have a 2019 Utah 50note that is messed up around the edges, will you relace a 2019 50note with another 2019 50note?
Heard you on free talk live, looking forward to holding some goldback. How does the polymer hold up to wear and tear, circulation, UV light?
It does better than the dollars we use. Goldbacks can go through the dryer or dish washer and be okay. We will probably do a video on this sometime this year. Great question.
@@Xerzajik1 looking forward that video. Any discount on gold backs bought in quantity?
I love these things. What if some of the gold falls out? How do we know they are going to retain every atom of gold since printing?
I want to see how durable the goldbacks are, also what is the recovery method? What happens if a gold back is damaged and is it spendable if it is? Is one silver dime or two silver dimes worth a single gold back? I am truly interested only because this is such a wonderful idea.
That is really my only concern, I have heard they can wear out and they do not replace them. Someone else said they could be clipped. I would say, dont buy them if they are damaged in any way. I going to collect these and give them as gifts.
I folded a GB single up and crammed it into a length of 3/4" PVC pipe, then crushed it with a 3/4" wooden dowel. The polyester laminate stretches a little when it creases, but the gold film cannot stretch, so it just cracks and splits. After half a dozen repetitions, you end up with a translucent gold lace trapped in the laminate. The printed design becomes unreadable because of the creasing, although it is still visible in the right light or under a magnifier. The embossed image on the back is ruined. (This procedure is a crude version of a test the US Mint puts its paper currency through, simulating years of use in a few minutes. Paper bills can be reflattened, even ironed, and do not lose legibility. All that happens is that they lose most of their crispness. The polyester GBs do not soften.)
I've also tried to burn a GB with a propane torch. The polyester melts and curls up, but does not actually catch fire. The gold is retained--in fact, the manufacturer does this to verify the gold content in each batch, kiln-firing a sample GB in a crucible at 2000 degrees F, which vaporizes the plastic and leaves a little gold bead behind, which they then weigh.
Washing a GB (twice, in a load of white towels, w/ hot water, detergent, and bleach, then drying) caused minor creasing, again cracking the gold film slightly, and some minor curling, but I saw no evidence of water infiltration, even on the crushed GB, which I also washed.
As someone with no interest in coins or precious metals generally, beyond ordinary consumer use, I find GBs unacceptable as currency. A crumpled GB looks like a discarded chocolate wrapper. The gold is recoverable, but you lose the premium added by the manufacturing process. (Manufacturer claims $1000/oz over the cost of the gold itself.) Worse, you place the shopkeeper (or his part time teenage clerk) in the position of having to figure out what the GB price of gas, milk, 2x4s, socks, ammo, or labor is RIGHT NOW--note that online GB dealers only lock in the price of a GB for about five or ten minutes after you start an order. That's how volatile the spot price of gold is.)
I still buy them, five or ten with each paycheck, to store wealth for myself in a convenient form independent of the government, for use In The Event, but as for daily use? Nope. Can't see it. Great idea, but the implementation needs work.
And no, the manufacturer will not replace a damaged GB one-for-one, whereas the US mint will give you a new bill in exchange for a scrap of more than half of a damaged bill. A damaged GB is only worth the melt value of the gold it contains, though a burned dollar bill is worth not a thing.
What merchants accept it as cash?
What is the minimum deposit required to open a UPMA account?
Anywhere I can purchase these in the UK?
Is there an origin website I can order from?
nice
Reallly I can’t believe this
Like 78!
How much relative to spot price are these notes offered for?
Bit more than double the spot price
No it is less than double spot. There is about a 70% premium. However, the cost to make these are about a dollar per Goldback. So the value is: spot + manufacturing cost + 10%. They are worth $3.03 and the bestp price I saw was $3.40 per goldback. But they are beautiful and cant be counterfeited. At least not yet. Plus they are serialized. I think it is a great idea. I cant wait for mine to come in the mail.
Manufacturer claims their process runs about $1000/oz over the price of the gold itself. They actually lose money on the singles, but tolerate the loss in the interests of popularizing GBs.
Do the higher denomination notes have more gold?
Yes. The five has five times as much gold. The ten has ten times as much gold and so on.
@@GoldbackInc how do we know it has 10x & so on?
@Joseph Postma I saw that they addressed this question in another video in their channel.
@@Car1Sagan Roughly, because if they were ever caught skimping, no one would ever trust them again for anything. Aside from that, the only way to be sure (that I know of, without sophisticated lab equipment) is to kiln-fire a sample, and weigh the recovered gold. But you know, we only think a dollar bill is worth a dollar because the US Mint and the Fed say so. And that will continue to be true only as long as the majority of people trust the government. When that trust goes, money becomes wallpaper or firestarters. Gold remain gold. Ya pays yer money, and ya takes yer chances, either way. In The Event, I'll take goldbacks, despite my other reservations.
Omg wtf I’m late
please make silverbacks as well