Does the Goldback Actually Solve Any Problems?

In this video I talk about the Goldback and look at problems that the Goldback might solve. There are a few issues when is comes to Goldbacks and I think that highlighting solutions to real issues that gold regularly faces is a good way to talk about these problems. The Goldback currency is a fractionalized currency that is made out of gold. The "1 Goldback" contains 1/1000th of a troy oz of 24k gold. Some of the negative things about the Goldback are seen as deal breakers for some people and seen as strengths for others. Are Goldbacks worth it? That depends on who you ask. I hope that this video looking at 5 problems that the Goldback may solve is helpful to many of you. Below is my video on stacking Goldbacks
Should You STACK the GOLDBACK?
• Should You STACK the G...
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Topics I cover in this video: Goldbacks, Goldback, 5 problems Goldbacks, Goldback problem, Goldback problems, issues with Goldbacks, Goldbacks worth it, are Goldbacks worth it, Goldback value, Goldback issues, Problems with Goldbacks, Negative things about Goldbacks, Why invest in Goldbacks, Why buy Goldbacks, buying Goldbacks, should I buy Goldbacks, utah Goldback, nevada Goldback, new hampshire Goldback, Goldbacks wallet, Goldbacks currency, Goldbacks utah, Goldback utah, Goldbacks value, what are Goldbacks, should I invest in Goldbacks, should you purchase Goldbacks
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Пікірлер: 255

  • @jboyette
    @jboyette2 жыл бұрын

    Gold backs are gold I can afford. I love them. They store easy, carry easy, and they were an affordable way for me to get some gold. I love silver but I wanted to diversify my metals and this has made it possible for me.

  • @bombsawaylemay770
    @bombsawaylemay7702 жыл бұрын

    I like the idea of using Goldbacks as tips, a very subtle way to spread the message.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    yes indeed spread the word! 🔥🐉

  • @beeks919

    @beeks919

    2 жыл бұрын

    Uh, aren't tips in restaurants usually split between wait staff and others, like bussers? How do you split a goldback? ✂️

  • @kitkat47chrysalis95

    @kitkat47chrysalis95

    Жыл бұрын

    @@beeks919 person A give 1$ to peron B, person B pockets the gold person A and person B can negotiate the 1$ to a higher or lower amount depending on the consensus of how much they think its worth. likely one of them will have access to the internet and a fair price can be agreed upon its the same as splitting a 20, one person pockets the 20 while giving 10 to the other person. worse case scenario they can make a deal amongst themselves such as rock paper scissors or for example one person takes out the trash at the end of the shift in order to receive the rare tip

  • @beeks919

    @beeks919

    Жыл бұрын

    @@kitkat47chrysalis95 sounds like that's going to be wildly popular and bound to catch on soon.

  • @flipnap2112

    @flipnap2112

    Жыл бұрын

    true. I do it with silver rounds. I explain to them exactly what it is and always get a surprised and inquisitive "oh really?"

  • @roryconnor
    @roryconnor2 жыл бұрын

    Goldbacks were the first gold I ever purchased. I'm obsessed with them now lol

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    that is awesome 👊🏽🔥🐉

  • @trackpackgt877

    @trackpackgt877

    2 жыл бұрын

    Yeah I carry a few in my wallet just to have gold on me the premium on them is high but if that is the only gold you buy you're better off than somebody holding dollars!!

  • @lynnybogard9371

    @lynnybogard9371

    2 жыл бұрын

    I need to confirm who you are sorry I get a lott of scammers and it usually starts with contact me on what's app if you don't want to that's cool just announce me as the winner next time you air something

  • @johninphx9360

    @johninphx9360

    Жыл бұрын

    Gold backs were an afterthought for me. My gold goal is 20 oz. And I decided to get 1 oz in goldbacks. I'm buying only 1 bills . I'm up to 400. Lol now I'm pretty sure I'm going to get more then 1 oz . I love these things.

  • @seclusionworks7547
    @seclusionworks75472 жыл бұрын

    I bought Goldbacks out of curiosity and when they arrived, I was amazed to hold them in my hand. The artwork, sheen and the mere fact they are gold.. it blew my mind! I believe if they are the future when the dollar tanks, they would rise in their value. If that doesn't happen, they are still beautiful to look at!

  • @ReelX4U
    @ReelX4U2 жыл бұрын

    I brought a few of the “New Hampshire Goldbacks” a couple years ago even though I don’t live in that state, but it is the closest to me in the “U.S. Northeast” in different denominations as a novelty. But you make some valid points about owning “Goldbacks” as to be used in the form of currency. I think from now on every time I place an order with an online dealer I will include at least one “Goldback Domination” in my order, who knows after the great reset, they might be in great demand, maybe the U.S. Government will start endorsing their use as actual currency. It’s a long shot, but anything is possible.

  • @davidortiz3094

    @davidortiz3094

    2 жыл бұрын

    I stack them. Gold is gold & be exchanged for any fiat around the world.

  • @tucsonbubba1574
    @tucsonbubba15742 жыл бұрын

    Very good video. The misunderstanding many people have is with the manufacturing cost. It is built in to the goldback price and is always carried forward, so long as you haven't manhandled it. There are always people who can turn anything into crap, but I only accept nice crispy goldbacks for their published value. It would be nice if things were priced in goldbacks instead of dollars so we don't have to convert from goldbacks to dollars. But the dollar would have to be totally worthless for that to happen. Thank you for you great video!

  • @hestjensen3876
    @hestjensen38762 жыл бұрын

    Completely new to me, its a brilliant idea, and no problems with different premiums and spreads. This could be the future.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    I think it could be the future as well! 🔥🐉

  • @johneast6101

    @johneast6101

    2 жыл бұрын

    It’s not going to be the future because it doesn’t make the establishment any money or give them any more power in fact it’s going to give them less so they’re not gonna let that happen

  • @carmanmurray754
    @carmanmurray7542 жыл бұрын

    I love the GB and own a bit. (Waiting for WY to come out) But the premiums are outrageous. If the premiums would come down and more actually got out into the market and were fully exchangeable it would be great. But currently they are not really exchangeable. 1 GB premium is quiet a bit higher than a 50 GB on most on-line sites as well as my LCS. That makes for other opportunities, but as far as use as a real world currency, more hurdles to overcome.

  • @jrtjonathanwinchell3955
    @jrtjonathanwinchell39552 жыл бұрын

    These goldbacks are not novelities because if you live in Utah it can be used. I personally like the art of it whether it's Utah, Nevada, and New Hampshire a gorgeous design.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    and many more states to come! 🔥🐉

  • @farnsmark

    @farnsmark

    2 жыл бұрын

    I believe Wyoming this summer

  • @farnsmark

    @farnsmark

    Жыл бұрын

    @@dudewhathappenedtomycountr9099 it is still in its infancy, there is a list of merchants that accept it. The legislature made them legal tender so you could pay sales tax (state) with them. I like the fact it has intrinsic value. I spoke to a jewelry manufacturer and they put sticky pads under their buffers to catch the fine particles of gold dust and then send those to refiner so the gold in them is retrieve-able.

  • @RebelStacker
    @RebelStacker Жыл бұрын

    Just got my first stack of Wyoming goldbacks. These things are AMAZING. Great video, SD!

  • @lifeisshort-makeitsweet869
    @lifeisshort-makeitsweet8692 жыл бұрын

    I am obsessed with these! The art work is incredible. I find waiting for the Wyoming and possibly South Dakota GB to come out very hard. I am a patient person, but I just love these!!!! I am going to try using them at my local hairdresser my next visit. Should be interesting.

  • @Lvaladez114
    @Lvaladez114 Жыл бұрын

    I hope to be able to purchase the 1st Texas Goldback 🥰

  • @simplepreparedness
    @simplepreparedness2 жыл бұрын

    You made some really good points. I have a few because I think they’re really interesting. Good to see you talking about them and raising awareness. I know a few people that think they are just a waste of cash. To each his own. Enjoy the videos and I’ve learned a lot from you.

  • @exeterbeekeeper
    @exeterbeekeeper2 жыл бұрын

    sounds like a great idea. will take along time to catch on

  • @silver-sheepdog
    @silver-sheepdog2 жыл бұрын

    Very informative! I appreciate your insight. Both a novelty & yet practical. What A Great idea as gifts!!

  • @robertwalker8453
    @robertwalker84532 жыл бұрын

    Once again, you’re knocking it out the park with disseminating good information and educating people about Goldbacks. Unfortunately, people are still looking at Goldbacks as a collectible or a novelty not as a functional currency. They also relegate the value a Goldback to the spot price of its gold content rather than a monetary technology that creates tangible and substantive additional value to the gold content. Keep up the good work.

  • @smobach
    @smobach2 жыл бұрын

    I live in the Netherlands. I really love it.. In fact i've ordered some Goldbacks. It is brilliant. I'll hope the idea comes over here to the Netherlands.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    it would be cool if they were worldwide for sure 🔥🐉

  • @EveyBee
    @EveyBee2 жыл бұрын

    I have a Goldback that I won from Silver Dragons Auction giveaway! Thanks again SD 👍

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    you are very welcome! 🔥🐉

  • @erickisel8668
    @erickisel86682 жыл бұрын

    @Silver Dragons: I really like these and wish I had a set for each state. Not really for stacking but more for collecting although you make some excellent points. I enjoyed the video and would love to learn more about them.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    thanks very much and there are a few more states coming out soon 🔥🐉

  • @christophergarland2266
    @christophergarland22662 жыл бұрын

    That is probably the best video I've seen describing goldbacks, their advantages and the problems they solve. Thanks for a fantastic explanation. Considering them a bit more, but still don't see them as extremely functional unless we get on some kind of normal money exchange using precious metals. But, good way to start getting gold. Was wondering, how liquid are these with LCS's? Would you get a decent amount bsck on them?

  • @thesarge4457
    @thesarge44572 жыл бұрын

    Great vid. Very informative. Thank You sir.

  • @4ninefine199
    @4ninefine1992 жыл бұрын

    Another thing I appreciate about Gold Backs is the COOL Factor 😎 The Artwork is amazing and has a very Old World feel. They are simply beautiful pieces of Art !

  • @uuuggghhh808
    @uuuggghhh8082 жыл бұрын

    Great perspective

  • @rachelcody3355
    @rachelcody33552 жыл бұрын

    thanks for the video. I think the biggest hurdle for the GB is information. people never heard of them and many get the impression it's just a collectable. I think in time more people will be open to the GB as more people and dealers embrace it. It may take a decade but I do expect to see these in circulation in all 50 states eventually. Especially, if the fed does away with cash.

  • @SilverGoldStackAttack
    @SilverGoldStackAttack2 жыл бұрын

    It’d be great if these caught on. More novelty than anything right now.

  • @DeckadeNemo

    @DeckadeNemo

    2 жыл бұрын

    The premium is almost $10 more then the current value of the 5 goldback right now. Way to high to start them now imo.

  • @SilverGoldStackAttack

    @SilverGoldStackAttack

    2 жыл бұрын

    @@DeckadeNemo - Agreed. I only bought a few because I liked the design, and it was something different.

  • @kivie13

    @kivie13

    2 жыл бұрын

    @@DeckadeNemo Premiums are not an issue if you have a UPMA account

  • @DeckadeNemo

    @DeckadeNemo

    2 жыл бұрын

    @@kivie13 whats UPMA? I am new to this whole thing. Just started stacking a month ago.

  • @kivie13

    @kivie13

    2 жыл бұрын

    @@DeckadeNemo Take a look at Alpine Gold and it answers everything. I can't reply with too much because KZread keeps deleting my comments because I think the algorithm thinks I'm spamming.

  • @5ivestring
    @5ivestring2 жыл бұрын

    Well you sure made my eye brows go up with this video. I thought collecting would be easy..... wrong. But it's still fun.

  • @5ivestring

    @5ivestring

    2 жыл бұрын

    Tried to contact you, but didn't happen.

  • @sergeant_t2020
    @sergeant_t20202 жыл бұрын

    I've ran into problems of vendor's either not knowing how to use the GB's or not having the correct app, and again not knowing how to use their app for GB. Everyone wants to sale GB's, but won't/can't exchange them. So until the bugs are worked out, I'll hold onto my GB. 🧐

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    that is strange that they want to take them but don’t train their employees how to do it correctly 🔥🐉

  • @jpdurr
    @jpdurr2 жыл бұрын

    That "Glitch" is called Arbitrage

  • @StackingSurfer
    @StackingSurfer2 жыл бұрын

    Just ordered a set of Utah Goldbacks. Can’t wait to receive them.

  • @krauthead4
    @krauthead42 жыл бұрын

    I think they're cool and an inexpensive way to build up your ownership of gold. Even if they do not catch on, I like the novelty of them, and if they go by the wayside, they should go up in value just for their rarity. I wouldn't put a lot of money into them--yet, but it's worth buying some to see where they go.

  • @6handicap604
    @6handicap6042 жыл бұрын

    Goldbacks have some of the advantages that you state, but I contest the statement that they are fungible. They are only fungible with themselves, but not with other forms of gold. I ask, would you trade 1,000 goldbacks for one gold eagle? I think not, yet they are both one ounce of gold. At the current $3.63 per goldback, you would pay $3,630.00 for one ounce of gold. Is that fungible with a one ounce gold eagle worth less than $2,000.00? That is about a 55% loss. In a monetary system of metals, all coins are fungible. In our history, no one had a problem trading 4 5 dollar gold coins for one 20 dollar gold eagle, or for one once of gold in any other form. same with silver coins, no one had a problem trading 2 quarters for a half dollar, further, no one had a problem trading 20 silver dollars for a 20 dollar gold coin. All forms of metal money were fungible with all other forms and also with equal amounts of metal in any form. Goldbacks are not fungible with other forms of gold, only with themselves, which does not comport with the definition of fungibility. If one form of gold would not be traded equally with another form of gold, it is not a fungible form of gold. People can believe and do what they will, as for me, I will not pay $3.630.00 for one ounce of gold that is at $1820.00 spot per ounce.

  • @meanjab
    @meanjab2 жыл бұрын

    My friends and I love these. Even in Northern Cali I've found Quite a few places that willl take them. The more ppl who buy them and use them the faster it's growing. They've even had to delay releasing the Wyoming gold back because demand has been working them to the bone

  • @hollowlighter572
    @hollowlighter5722 жыл бұрын

    I buy for prepping and mostly gifting

  • @Musique3579
    @Musique35792 жыл бұрын

    I would be inclined to think that for now, about the only way that a Goldback could be faked would be if it were to be "an inside job." As for expensive machines that test metals, perhaps in the near future these will be coming down alot in price. When it comes to testing Silver, I have seen demos of a faked Silver coin actually "passing" the machine test. Horrors! Luckily, there is a "Ping Test" to check-out how well it rings. For now, and at something like 25.00(?), simply owning the "Ping Test" should do it for most of the 1 Ounce Silver Stackers so that they can feel safe.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    I love doing the ping test on silver it sounds so good 🔥🐉

  • @Musique3579

    @Musique3579

    2 жыл бұрын

    @@SilverDragons47 Ha Ha Ha. I know. It is fun! :-)

  • @fastwesley
    @fastwesley2 жыл бұрын

    Love your videos Silver Dragon. The real question is can you use these on everyday items? Like for an example, buy a cup of coffee at Starbucks? Or maybe by a hammer at Home Depot? Right now, I think it's a novelty but I hope one day we can start using gold bucks as everyday currency. Cheers.

  • @whitefang351

    @whitefang351

    Жыл бұрын

    I had thought I might use them...see if anyone would accept them. However, now, I would rather hang on to the gold...and just spend the worthless fiat paper. These GBs will appreciate with gold as the fed reserve notes depreciate. I still may try to spend a few but I would hate to give them up for everyday purchases.

  • @toastedundereasy
    @toastedundereasy2 жыл бұрын

    So can you fold them without damaging them like dollars? And how well do they fly when thrown?

  • @victory3788
    @victory37882 жыл бұрын

    We need Silverbacks too!

  • @flipnap2112
    @flipnap2112 Жыл бұрын

    my opinion. Theyre a great item for their beauty and specialized function. I would never stack them, but own a handful as "art pieces". When the government fully goes to CBDC they will outlaw all other forms of "money", including bitcoin. Unless states secede from the union you wont be allowed to use these. Now, if we get to that point it will be an underground thing (sort of like paying under the table is) and people will accept silver rounds just as easily. the premiums for goldbacks are through the roof and NOBODY will want to melt these things down for the gold. I take mine to my neice and nephew to show them what "real money" is and explain the gold in them and how it used to be. If youre hedging against hyperinflation or the CBDC stack silver rounds. if the SHTF then well have a lot more to worry about, but the dollar wont just be devalued, it will be cancelled and anyone trying to use fiat will be thrown in jail.

  • @James-xu3vc
    @James-xu3vc11 ай бұрын

    One issue rarely addressed is "dilution through distribution"

  • @ryansquires5098
    @ryansquires50982 жыл бұрын

    I'd love to buy a few of these as collectables, and as gifts, but I am having trouble finding them. Anyone have any idea on where I can buy them in Canada?

  • @danielroy8232
    @danielroy8232 Жыл бұрын

    I think it is possible to counterfit these. you just need to find a buyer who doesn't know what to loook for in security features. it doesn't need to be a good counterfeit

  • @canuckinsk
    @canuckinsk2 жыл бұрын

    I feel like this video should have a relationship disclaimer.

  • @WFStudios
    @WFStudios2 жыл бұрын

    Personally I don't think that goldbacks are something you want to buy for a SHTF scenario because you will probably not get the premium back As for it not being faked China would jump at the opportunity Still looks greats and is a fun thing to buy to keep your stack from being too boring

  • @xephael3485
    @xephael34852 жыл бұрын

    11:00 think you're wrong about the premium on smaller bills being more than one big goldback. Although it's not super substantial it does exist

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    no look at many of the online dealers that sell them at reasonable prices it makes no difference which denomination you buy. also when you spend them the denomination does not matter either. for example go to moneymatals.com and look at the prices 🔥🐉

  • @kivie13

    @kivie13

    2 жыл бұрын

    Premiums are not an issue if you have a UPMA account

  • @farnsmark
    @farnsmark2 жыл бұрын

    Utah legislators made them legal tender just recently.

  • @Arthamus
    @Arthamus2 жыл бұрын

    Hey unrelated question what is considered a normal premium percentage on 1oz silver coins?

  • @EMT_Rick
    @EMT_Rick Жыл бұрын

    Collecting the whole set. Doubt they'll ever catch on mainstream, but they're still cool as hell

  • @joshbrowngmt400
    @joshbrowngmt4002 жыл бұрын

    I’m more of a collector so I doubt I could bring myself to ever spend one if I had the chance to. In that aspect I’d prefer a gold coin. Would like to own a couple just for my personal collection but aside from that I can’t see spending one. But I also live in a state that doesn’t have or support these(as of now at least). Fair points and great ideas nonetheless.

  • @cephasmartin8593
    @cephasmartin85932 жыл бұрын

    Another problem is that the value of gold can fluctuate ... sometimes wildly. Is a vendor going to keep up with those fluctuations? I bought four ounces of gold when it was about 1750 including the premium. Now I'm up about 100 bucks per ounce, and it wasn't that long ago that it almost reached 2000 dollars. That's the biggest problem I see with the gold backs. I stack silver and gold because I'm a prepper and if SHTF happens, I'll have something that will retain its worth. It also keeps me from spending my savings foolishly ... like on booze and wild women.

  • @benjaminshaffer8753

    @benjaminshaffer8753

    2 жыл бұрын

    I don't see any of that as instability in the value of gold, that is just the instability of the dollar. And as for your gold and silver coins, if SHTF what are you going to do with them? no one can verify if they are real or counterfeit in a situation like that, and what if you need food? or fuel? will you trade someone a whole ounce of Gold for what you need? that sounds like a good way to end up spending $2k for $100 worth of groceries or gas... I'd much rather have Goldbacks.

  • @wigstone75
    @wigstone75 Жыл бұрын

    Are they different sizes even in same denominations? For intanace the Utah 1 looks larger than the Nevada 1 I have a couple of.

  • @tonypittsburgh9
    @tonypittsburgh92 жыл бұрын

    Ignore the premiums. The fact is th dollar could be worthless in the not so distant future, these will retain purchasing power

  • @michaelmohrle1773
    @michaelmohrle1773 Жыл бұрын

    They should make these in silver too, really cool collectable wether it takes off as currency or not. This is a great idea.

  • @Ninja-tech
    @Ninja-tech2 жыл бұрын

    Another issue is that even though Valrium makes a maple leaf lamifoil they don’t ship or sell to Canada.😒

  • @social3ngin33rin
    @social3ngin33rin2 жыл бұрын

    fun collection because I don't spend them :P many good argument points :)

  • @jeremydoggett5005
    @jeremydoggett50054 ай бұрын

    I have seen more videos against the Goldbacks but it's apparent that these do have a place. Those that own some will probably be better off than those who shun them.

  • @charlesseekssilver2985
    @charlesseekssilver29852 жыл бұрын

    Also, do you have a link to purchase them online that is specific to you?

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    I do not unfortunately sell them I just buy them haha 🔥🐉

  • @charlesseekssilver2985

    @charlesseekssilver2985

    2 жыл бұрын

    @@SilverDragons47 apologies. Didn’t mean that you sell them.

  • @scott.m.thacker
    @scott.m.thacker2 жыл бұрын

    Prices would always have to be a whole number because of not having proper coinage to give back.

  • @whitefang351

    @whitefang351

    Жыл бұрын

    For now, you can take your change in base metal coinage or fiat dollars.

  • @awakenotwoke4830
    @awakenotwoke48302 ай бұрын

    1/10th has high premiums. Goldback, "hold my beer "

  • @Charlieslaw
    @Charlieslaw2 жыл бұрын

    Aren't the premiums on these more than the premiums for the smallest amount of gold you can buy?

  • @meanjab

    @meanjab

    2 жыл бұрын

    About 80% premium but they trade at the goldback exchange rate which is always higher. You'd only have to melt out the gold for spot if you got into a time machine AND went back before English speaking anD\OR before the idea of Currency

  • @scallywagdon1662
    @scallywagdon16622 жыл бұрын

    Would you say having gold backs for stacking to be a good idea?

  • @byteme0000

    @byteme0000

    2 жыл бұрын

    No. They are a novelty item and are way overpriced for the amount of gold they contain. It’s just like paying the ridiculously high premium (as a percentage) for 1/10-ounce gold eagles as compared to just saving up and buying the 1-oz coin. The “premium” for such a tiny amount of gold in the goldback makes it a terribly bad investment.

  • @MrThe1234guy

    @MrThe1234guy

    2 жыл бұрын

    Stacking no, but for a local currency absolutely. If they are accepted as legal tender they have a fixed exchange rate.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    if you watch my video on this topic you will see that they are not for everyone… BUT if you did stack these along side other gold bullion you would have done much better with the Goldbacks compared to pretty much anything else 🔥🐉

  • @farnsmark

    @farnsmark

    2 жыл бұрын

    My thinking is- it’s about the only gold I can afford! At $3.75 each it is pricey per oz. however when Gold hit 10k even a small investment will bring a good return and yes you will still own physical gold

  • @whitefang351

    @whitefang351

    Жыл бұрын

    I think so, a small denomination like this commands a premium. I had considered trying to use them but now I think I will just hang on to them and spend the fiat dollars while they are still accepted. As gold increases, the GBs will too. We'll see what happens. Have some Au and Ag coins first, I'd say...then branch out into these.

  • @chrisbytwerk3712
    @chrisbytwerk3712 Жыл бұрын

    Could someone tell me what the 1, 5,10,25,50 goldbacks would be in dollars ? 💵

  • @MALICEM12
    @MALICEM12 Жыл бұрын

    The anti counterfeit technology in the GB reminds me of the artificial owl in Blade Runner

  • @jefflarson4982
    @jefflarson49822 жыл бұрын

    I like the look of the backs

  • @missourivalleyrails
    @missourivalleyrails2 жыл бұрын

    Blows my mind… that dollar is worth the same it was 100 years ago that 1 dollar in silver is worth 17x more just the silver alone

  • @cutlerylover
    @cutlerylover2 жыл бұрын

    I think they are cool but I also thin k they will be a collectible when one day they just stop making them...I dont see them being used on a mass scale unless the US did it and they would never offer real money to us in fact they are trying hard Im sure to go digital so its easier to steal out money from us, lol...But as much as I like the idea I dont think it will last just because of they have the highest premium of all gold products outside of some rare collectibles, if they could offer these very close to spot for gold at any given time with very little premium then yeah I could se it taking off a being the next big thing but these have been around for a while now and I dont know anyone who owns a significant amount of them yet....

  • @danielroy8232
    @danielroy8232 Жыл бұрын

    something I don't like is that they only true way to verify the content is to destroy the bill. IF I have a coin I can do the electrical test and a specific gravity test. but with this, you have to believe that no one has figured out how to counterfeit it.

  • @martyhanson1902
    @martyhanson19025 ай бұрын

    Love the concept but, The problem I have with GB is It’s Not Legal Tender ! I’m sure we can find mom&pop retailers in Red states willing to accept them, but are we able to spend them at Lowe’s or Walmart ?? Can I walk into the public utilitys office and pay my gas bill ??

  • @anthonygonzales1027
    @anthonygonzales1027 Жыл бұрын

    Well in a way is it worth more than a us dollar because of the gold inside of it ?

  • @moneysaversilver
    @moneysaversilver Жыл бұрын

    Problem number 6 there's only four states that make them so can you use them anywhere else besides those States

  • @EveyBee
    @EveyBee2 жыл бұрын

    I got to meet JaySilverBull over the weekend and watch him pour, he’s a very cool dude! Was a great time!

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    that is awesome! 🔥🐉

  • @kdnofyudbn5918
    @kdnofyudbn59187 ай бұрын

    I have for a few months now purchased coffee/baked goods at my local bakery. Paid for my haircut and tip. bought groceries at the farmers market and a local food market. Aside from cash and credit cards goldbacks have worked fine. Don't like crypto cause people forget you have to pay a service fee ( currently for Bitcoin its about $11 dollars). So yes it doesn't solve the coin issue but why not keep the coins and replace bills that cost the US government 10 cents to make which has been devaluing for decades and replace it with something that actually goes up in value?

  • @natemr4482
    @natemr44822 жыл бұрын

    Great video brother thanks for the info

  • @mikeobrien4437
    @mikeobrien44372 жыл бұрын

    One problem is you need to use them in a certain state. They should be universal so one could spend them in ANY state that is on board with the program.

  • @whitefang351

    @whitefang351

    Жыл бұрын

    They have the same value in any state.

  • @Kcconnor
    @Kcconnor11 ай бұрын

    The biggest problem with the gold back isn the premium that you pay for an once of gold. Now I know that different state charge different amounts for the gold back but on average let us say that you can get a $1 gold back for $3.50-$4.00 apiece. She you just start hoarding $1 gold back and you need $1000 for an ounce of gold. Do the math. An ounce of gold would wind up costing you $3500 -$4000 for a single ounce. Now if you just save that money putting it aside you could probably have enough for an ounce of gold for $2000. Still believe that you can drink the gold back better than if you bought the gold back. Well I’ll tell you what. You start sending me the equivalent of the money that you were sending in to buying the gold back and with in a year I think that I would have earned money to buy you an ounce of gold, well I wouldn’t buy and ship you a piece of gold. No we will still keep collecting your money until you think that you have bought enough of the gold back that buy you an ounce of gold. As if the price of gold goes up well that is how much more you would have to send me to buy that ounce of gold. Message me if you’re interested.

  • @jamierivera7259
    @jamierivera7259 Жыл бұрын

    The gold is not the problem,the price people are putting on gold is the problem, they could choose to value gold at a dollar per pound if they really wanted to, the problem is that it can be used for a lot of things and something that valuable will eventually be exploited,which is the problem we are having, it's hard to get because of exploitation

  • @projector7141

    @projector7141

    9 ай бұрын

    It also reinforces wealth inequality, because, people with money can just buy it all.

  • @joejarrell2578
    @joejarrell2578 Жыл бұрын

    I may be completely out of right field woth this. But, what happens if the company that makes these things goes under? This means that you've spent $3.50 or more on roughly $1.50 give or take in gold. Now you're out the difference......

  • @charlesseekssilver2985
    @charlesseekssilver29852 жыл бұрын

    I think these are a great product, but for utilization purposes, they are only good as gifts in my state. I live in Texas, and these aren’t accepted anywhere. I have a few, but they are only in my stack or I use them for my kids to get them started.

  • @SilverGuy144

    @SilverGuy144

    2 жыл бұрын

    "Aren't accepted anywhere"?!!?!?!??!?!?!!!?!?!??!?!??!?!!?! These things not only are accepted by many businesses across several states, they are officially recognized as legal tender in the state of Utah!

  • @bdub3871
    @bdub38712 жыл бұрын

    So wouldn’t the price of the Gold Backs fluctuate due to the price of Gold? Or do they always stay at the face value?

  • @anonymousAJ

    @anonymousAJ

    2 жыл бұрын

    Well the amount of gold doesn't fluctuate, but the dollar's ability to buy gold certainly does fluctuate

  • @matthewlewin5536

    @matthewlewin5536

    2 жыл бұрын

    What is considered face value of a gold back? It doesn’t have a dollar value but rather a “goldback” value. So your answer is that it will fluctuate with the price of gold and that will yield however much 1,5, or 10 etc. goldbacks are worth.

  • @whitefang351

    @whitefang351

    Жыл бұрын

    The face value of 1 Goldback is 1/1000 Troy Oz of gold.

  • @KCTShark
    @KCTShark2 жыл бұрын

    Cheers

  • @kevinsmith6647
    @kevinsmith66473 ай бұрын

    It’s funny I bought some GBs a couple of years ago thinking it was a fun thing to collect. Now I see news that they now have GB ATMs. I think this is going to take off like the bit coin. I like this better than bitcoin because I can actually trade with it now.

  • @matthewsantillanes194
    @matthewsantillanes194 Жыл бұрын

    We need every state to accept these as money

  • @trackpackgt877
    @trackpackgt8772 жыл бұрын

    I want to see someone put the gold back on the sigma machine it's 999 gold shouldn't it test I don't know I don't have one of those

  • @ryansmush2942
    @ryansmush2942 Жыл бұрын

    I love them and collecting them for my kids

  • @01jhm143
    @01jhm1432 жыл бұрын

    I bought some for my grandkids

  • @dukenukem001
    @dukenukem0012 жыл бұрын

    they have their charm but i still prefer a solid gold coin ... BUFFALOS!!!!!!

  • @teatowel11
    @teatowel112 жыл бұрын

    Coins were used for thousands of years, the reason for certificates was not that coins are hard to carry. The premium of goldbacks would be artificially maintained. The high value notes subsidising the low value notes. No way that 25 of the 5 denomination notes doesn't cost significantly more than 1 100 note. Cool concept though for the sane reason people like constitutional silver

  • @cairpreliffechair832
    @cairpreliffechair8322 жыл бұрын

    I've sent wallets full of gold backs as birthday gifts to relatives. By the way, 40 1 denominator gold backs are HEAVY, but it is $150 worth, so still good. The biggest problem is the amount: they've only made like 4 million of them, over 4 years. I can't see them able to make 1 trillion (1 million ounces of gold!) in 10 years. So it is a good dream for a few states if it all collapsed.

  • @gossman75
    @gossman752 жыл бұрын

    Gold Backs would have been a new currency except there's a premium that make it cost twice as much. Therefore, I don't think people will buy Gold Backs when it cost twice as much because of the price premium for the process to make these Gold Backs. If you wanted one of each bill, without premium would have been somewhere around 170.00 but since it cost so much to make the gold backs the premium is added which cost 333.10 or so

  • @kivie13

    @kivie13

    2 жыл бұрын

    Premiums are not an issue if you have a UPMA account

  • @TheWarnickthree
    @TheWarnickthree2 жыл бұрын

    Where is the best place to buy a goldback?

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    there is a list on goldback.com just buy from whoever has them the cheapest 🔥🐉

  • @kiley89
    @kiley89 Жыл бұрын

    It would be better if they actually put the amount of gold and the face value of the note a little closer to spot price . The premium over spot makes this product a bad investment for me..

  • @NicsCoins
    @NicsCoins2 жыл бұрын

    Great concept I see this as a novelty item that is becoming popular but IMHO with fizzle out and will be hard to resell.

  • @MrThe1234guy

    @MrThe1234guy

    2 жыл бұрын

    You don't need to worry about reselling. They have a fixed exchange rate back into dollars And also are worth their weight in gold.

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    i’m not sure what you mean by resell? Do you mean spending them? They are spent for whatever the exchange rate is… if you buy them under the exchange rate you literally gain purchasing power the same day 🔥🐉

  • @NicsCoins

    @NicsCoins

    2 жыл бұрын

    @@MrThe1234guy I didn't know they had a fixed exchange rate.

  • @NicsCoins

    @NicsCoins

    2 жыл бұрын

    @@SilverDragons47 first you have to make sure you are in a state and doing business with merchants who accept Goldbacks. Right now it's not my thing and I don't have any interest. I don't see it catching on.

  • @MrThe1234guy

    @MrThe1234guy

    2 жыл бұрын

    @@NicsCoins if you open an account you can just send them in by mail and they will credit your account. If you are in an area where they use them as local currency you can spend them at many retailers. I'm still waiting to see someone turn a pile of goldbacks into actual gold again. I would like to see that melting process in a video. Maybe Silver Dragons could make that video.

  • @Kick_Rocks_
    @Kick_Rocks_2 жыл бұрын

    They’re fun to buy every now and then and make cool little stocking stuffers. Other than that, meh.

  • @JewTubeSux
    @JewTubeSux2 жыл бұрын

    I prefer real gold, silver and copper bullion.

  • @NicholasKon9
    @NicholasKon92 жыл бұрын

    Wait when the gold back have counterfeit problem.

  • @aucourant9998
    @aucourant9998 Жыл бұрын

    These Goldbacks are perfect for counterfeit. How can you check that they actually contain gold?

  • @ken3923
    @ken39232 жыл бұрын

    Where do you get them and how much do they cost

  • @withwhatyougot7993

    @withwhatyougot7993

    2 жыл бұрын

    Hero bullion is the best deal

  • @SilverDragons47

    @SilverDragons47

    2 жыл бұрын

    if you go to goldback.com there is a list of retailers that sell them. just buy from the cheapest place 🔥🐉

  • @happyhippo4664

    @happyhippo4664

    2 жыл бұрын

    They are like $5 for 1. If you like paying $5000 per ounce, go for it.

  • @SilverGuy144

    @SilverGuy144

    2 жыл бұрын

    @@happyhippo4664 You could just look at other places. Most online stores sell them much closer to or even lower than the exchange rate.

  • @bullionaddict9164
    @bullionaddict91642 жыл бұрын

    Dragons 👍👍

  • @chris2790
    @chris2790 Жыл бұрын

    They seem gimmicky to me though. How durable are they? And you have to carry them around in a flat wallet? Not super convenient and if they gained traction with the general population, you know they're gonna get folded up.

  • @reefrandall6732
    @reefrandall6732Ай бұрын

    It's going to go the way of Roman coins. People will snip off little corners and bits

  • @imnugget8085
    @imnugget8085 Жыл бұрын

    Honest i think it be cool if minimum wage 1 month worth is 1 gold oz and we break thatdown to goldbacks thats be awful futures