The best way to increase the usage of golvacks would be from a small business perspective. Offer a discount for paying with goldbacks the same way some do when paying with cash instead of credit.
My only problem is counting the bills, they get static cling and I pick up 2-4 and almost count it as one, Slight inconvenience but amazing awesome product
You need to expand your branches in Europe as well. Or open a branch minting factory, just imagine Goldback with European drawings and ornaments, for example. one for each of the members of the European Union.
I know goldbacks are not good for stacking but I want to get at least an ounce worth to store for when SHTF. Any recommendations on how to properly store these things? Will currency plastic sleeves ruin them?
Can somebody explain why I should pay $3.80 for one goldback when the gold within them (0.001 oz) is worth $1.74? Not trying to be a jerk .. I'm just interested. Don't kill me.
It costs far more to produce 32,000 individual Goldbacks than it does to produce a single one kilo brick of gold. The same is true of coins. For this reason, a one ounce gold coin may cost $1,700 while a 1/10th ounce coin may cost $220. The trade-off is utility. The concept of a higher premium for a smaller quantity isn't unique to the Goldback or even gold in general. It is true for nearly every material that can be bought in quantity. A 2x4 piece of wood will have a much lower cost than the same amount of wood that is made into toothpicks. It takes more labor and energy to make 20,000 toothpicks than it does to make a single 2x4. No one is being cheated when they decide to purchase toothpicks. Small bars that contain the same amount of gold as Goldbacks cost as much as 40% more. The technology behind Goldbacks allows for gold to be priced in small denominations more competitively than ever before in human history. We believe that we have solved the 2,600 year old small coin problem associated with this as a result. We are extremely proud of our low premiums.
This is dumb. I would rather spend money that is losing in value. I would NOT want to spend a money that requires a high premium that would just rise in value. Something that rises in value overtime with ineffecient use as a currency should just be use as savings. This has very limited use case and requires a very specific economic/social event to make these useful. Not worth it at alll. But these look nice i guess....but annoying to carry it around since you need to keep it flat. Not very durable....
If a Goldback has a 5 on it, what are we callingit? Its not a $5.00 dollar bill, is it? So they give our change back in US bills? If they dont have Goldbacks? omg.. confusing
Hey Jason thanks for the question. What is a plated gold money gift? Our product is pure gold sandwiched between protective durable polyester barriers, and the gold content is clearly declared on ours, not to mention all the other features to make it the ultimate currency.
@@GoldbackInc thanks. The gold plated money gifts (note sure if that is what they are called) are those copies of USD notes but with gold plating. I see them being used as bookmarks.
A dollar today will be a dollar 20 years from now. A goldback today will be who knows..have to pull out a calculator. Thats why bit coin didn't do too well.
It's not a bad idea. However, how do you determine the exchange rate? Also, what's gonna happen if this bill gets folded one too many times? Will you replace it for 1 to 1? It's a great work of art. I would buy it for the shelf. But for everyday purchases? No, coins make sense. Silver and copper will work fine.
@@hyozanhades09 that makes sense- it just seems like the emphasis was a little heavy handed. But I guess the entire appeal is that they are self backing- if the material isn’t there it kind of takes away from what they offer
@@DigitalAndInnovation I looked on youtube people actually tried all sorts of things with the bills including putting it in a wallet for a year and it didnt do too much to it beyond wrinkling it a little and a little bit of delamination at the corners. So I think they are way more durable than it looks. Also people have shown that it does have gold in it by literally melting them down. I'm starting to think the main thing of keeping them flat is to keep them shiny and new looking.
Not when you have a UPMA account. Just take a look Alpine Gold and they explain the zero buy/sell spread. Also as a bonus if you like the 1 Goldback note they are significantly cheaper.
So... one Goldback cost $3.70-3-98 and is 1/1000 of gold. At gold price $2000/tr.oz 1/1000 of gold cost $2. Conclusion: We need to wait until gold price will be in $3,700-4,000 range to make fair transactions... Just my 2 goldback cents
@@darmacusa03 Like I said, with a UPMA account premiums are no longer an issue. Just look up Alpine Gold and all your concerns are null and void plus there are a plethora of other benefits to take advantage of. Just pretend you are an extremely thirsty horse and I am leading you to the watering hole. Edit: I have had my account for close to a year now and with the recent rise in gold prices I have not only not lost money on my Goldbacks I have gained money and I'm not even leasing (yet).
@@kivie13 I haven't bought any yet. I buy $167 of silver per month. I don't actually have silver, but the funds buy that much worth of silver in a silver-savings account. All the rest goes towards basic life expenses. I love the idea of Goldbacks, but when 99% of your purchases are at the poor man's box store Walmart, then I'm kind of at a loss as to what I would do with them.
Tip number one. Gold backs are not a sound investment. You are purchasing gold at double the spot price. You're then trading it back at a value based on spot price. You will lose half the dollars you put into it. Gold backs are a novelty gold item. Buy some and hang them in a frame on the wall. 🤑
Yes its gold that has been made fungible, exchangeable, divisible, a store of value, durable, portable, unit of exchange and can be spent at over 1,000 stores with virtually no risk of counterfeits. Gold is money!
