GOLDBACKS - Should YOU Be Buying The Goldback? 

I bought a complete set plus a lot of the “1s” for gifts when they first came out. The are also pieces of art.

I bought 1,5,10's a few weeks back. They were so far beyond any image I have seen, that I immediately ordered the 25, 50's. They are worth it just for the art. Stunning.

I actually used goldbacks to help as a teaching aid in a class i teach up here in economics...its amazing how Well people pay attention amd understand better once they actually can see and hold one...I even handed one to each in the class to keep and help get them started...im still debating wether to continue using the godlbacks or something else...but so far these help...more than half my students actually started buying these...so people do like these...personally I've given most mine away or traded them ...just not my thing...but I can see why many stackers like them...and when I took a class vote 63% preferred these over actual coins or bullion...and I was surpruaed by that.

So Willy Wonka's Golden Ticket becomes a reality.

The main problem for me now w/ goldbacks, is the very high markup in the gold over spot. I am not willing to pay 70% over spot for gold. Until the markup over spot becomes low, I will probably prefer 90% silver coins.

Some info I got today from Goldbacks: Yes, the gold is recoverable as the Goldbacks can be melted down (the plastic burns off leaving just the gold behind). Early on one of the Goldback employees accidentally washed and dried a 5 with their laundry and it came out wrinkled but no gold was lost, and there was no heat damage. Folding the Goldbacks will leave a crease in them, but does not damage them materially. As such we do not recommend that individuals fold them and we created a custom wallet so that individuals could carry them without folding them, but the value does not decrease simply because they may get creased.

This answers my question of how modern commerce could be conducted with actual gold backed currency. Crypto is nice and all, but really, physical cash is king. Goldbacked cash ensures that currency's value since it's backed exclusively to the gold market. This was really helpful. Thanks for sharing this SD!

SilverDragons, they are pretty! At least they are worth more than the paper of fiat! Very cool. Thanks for sharing.

I just ordered about 50 of these for Christmas gifts...they are Beautiful!

I remember your reaction to the goldback on the coast to coast show and was a little surprised. I'm glad you investigated them and determined their true purpose. They aren't for stacking due to the premium, but their utility as a currency is amazing. Technically, you can even pay in fractional goldbacks since you can easily just cut them in half or quarters. Also, I like that they are different sizes, which is a common problem for blind people using regular US cash. A lot of thought went into these designs to make sure anyone could use them.

I was aware of these but I never thought I would want to own 1. You just did 1 hell of a show so now I am going to grab a few of them

I just discovered these things. They are super cool! I was blown away at just how fast they sell off the internet retailers.

Very well done, SD! Glad to hear you finally getting on board with the goldbacks!🔥🔥🔥🔥🔥🔥

Anyone who is just looking at the high premiums and saying no I would say this. If you are watching this video you are likely a stacker and likely you appreciate beauty in metals. You probably are also expecting and hoping for the day we get away from fiat funny money. The one dollar is only three dollars or so and purchasing one or two is not going to break anyone's bank. Just skip that morning coffee. It is a great way to support the movement and I guarantee you will be glad you did. These things are absolutely beautiful and cool to show to friends and family.

Thanks for the information, great overview, much appreciated~

Honestly, I just want one of each goldback for display purposes mostly. They are more official looking than our official currency lol. Nice conversation pieces as well.

Such a cool idea! Thanks for making a video on this.

Very cool! I'm pretty new to stacking and I've never heard of these. Thanks for the heads up! Will be looking into these more!

Very cool. Thanks for sharing. Never have seen before!

i've always seen these and wondered what it was all about. Thank you for the great explanation and super rad!!! just grabbed some myself from apmex : )

Excellent video, as usual. My son is graduating from college in May. I have not been able to give him a gold coin like I wanted, as for health reasons,with post heart attack and college bills, I am pretty much just getting by. Still blessed! A set of these will make him a gold owner after all. Thanks for the great info and idea!

I love them. Living in Australia, but from the states, this is an easy way for me to get gold sent to me. Have close to 1000 already.

Great video! I bought some of the New Hampshire, Nevada, and Utah goldbacks! Also bought some for my father as a random gift! Better to swallow the pain of the large premiums now than not have this excellent currency for bartering when you really need it if (god forbid) all hell breaks loose in the economy somewhere down the line.

OMG! GREAT IDEA👍👏! I just purchased some $1s today. I will DEFINITELY purchase more in the near future☺! Thank you for posting this!👍👏👍👏

I don’t see the sense in buying things I know my local coin shop wouldn’t buy - interesting video & I’ve been wanting to know more about them! Thanks SD!

Thanks for the great explanation! I picked some up just to have them because they are cool.

Banknotes that are actually backed by the precious and finite material which they are mode of. This is brilliant !

Wow. I had never heard of these. They’re pretty darn cool. I’ll try and snag some with my next silver buy.

Great video!! Much love 💘

Good video! I started buying goldbacks about 6 months ago. Before that, I had several troy ounces (and partial ounces) of gold and silver. But I don't want to be carrying around bullion -- it's bulky and heavy. So I traded in all my gold and silver bullion for goldbacks. For my purposes, goldbacks are the perfect solution. They're compact, have nice artwork and are REAL gold! I highly recommend goldbacks for anybody. Yes, some people just prefer bullion and I understand that. But goldbacks are definitely worth investigating.

When I first bought the goldbacks I wanted to hold it like gold & silver and buy it for the design series. I also like the durability of the goldbacks because the printing process of the fiat $1 currency is three cents because its paper in addition the goldbacks printing process is electroplating which is a higher value and well worth to buy.

These things are true works of art. Very gorgeous.

Interesting, thank you for the explanation.

Hell yes been searching for this answer

This is a great idea and I think it can be used to drive enthusiasm for non-fiat money

Thank you Silver Dragons for sending me your one of a kind Silver Dragons silver certificate, just beautiful art. Thanks again!

This is unreasonably cool

Nice informative video 👍

Great intro into goldbacks as I’m new to this

Nice artwork 😎👍

I misunderstood like you did Silver Dragons & thought the same thing. Now knowing their intended use I may buy some. These would make great gifts for anyone.

I have eight of the 1 goldbacks and one 5 goldback. Started back in 2019. Very unique.

I really hope these catch on.

Brilliant idea

The art work on them are so pretty.

I bought 10 of the 1 New Hampshire ones for around 43 bucks. Mainly just wanted to keep for my kids later down the road. Plus they will gain value as long as gold goes up

I think that your description and short expose' on goldbacks is spot on. Especially in these uncertain times, there will be a further surge in the purchase of this currency. I will not be surprised if more states jump on the band wagon. Wouldn't it be something if nearly 1/4 to 1/3 of states actually have or will allow goldback currency over the next few years? I have been accumulating some of this from month to month because at some point probably with in the next 20 years it is estimated that the USD will no longer be the world's reserve currency. When that time comes the goldbacks will hold their value and then some. If and when the financial infrastructure built on the USD implodes having traditional gold in 1/10 to 1 tOz amounts will not be practical unless you are making large trades. I have explained the production premium to many people, because people often want to look at a goldback as a traditional medium for stacking and it is not intended for that as you astutely pointed out. The $1.10 plus 10% of spot premium for making each note is really a good deal given the level of security and technology that goes into making them. And there is nowhere on the market one could find a reliable hyperfractional product that is anywhere comparable. In fact the 1 Goldback note is manufactured at a loss. The production premium is not lost when they are used to purchase a good or even exchange back for USD. It is only the value of the gold that floats according to spot. The only ways you would lose out totally is if the price of gold went to zero or dropped precipitously and never recovered (unlikely) or you destroyed the note and melted it down for the actual gold, which would defeat the purpose of the note.

I would honestly hang these on my wall as a decorative piece. Would be a conversation starter for sure. 😂😂

good stuff bro

Dragons I've watched a couple of the other channels in the past do videos on the Goldbacks but I think you've explained it where people may actually understand their true purpose.

Saw them online, came to RU-vid. First video was yours. I'm like..."Well if Silver Dragon has some I might as well grab a few too". 😂 Thanks!

That was a good video. Taught me something very useful that I didn’t know.

New to me. Nice looking notes. At least they are backed by something. In this case actual gold!

Thank you! Awesome

Saw these a few weeks back and thought they were cool. Picked up a few (about 25 backs worth, showed up yesterday). On a normal day I stack silver but found them to be neat. Hope they keep printing them.

I picked up a 20 pack of 1's last week. I just ordered a few of the 25 notes. Going to order some 5's and 10's this Friday.

I just brought a set .. I can’t wait to see this should be good for beginners looking to invest in gold currency

NICE VIDEO IM READY TO SEE THE NEVADA DESIGN!!!!!! I LOOKED INTO THESE YET HAD NO WHERE TO TRADE THEM

Interesting! Those look pretty sweet

I wouldn’t mind picking some up. I like to frame cool currency’s and demonetized bills. They look nice hanging on the wall: I want to pick some up for sure. Nice collection.

Metal notes is a pretty cool idea. I'd never pay that premium or accept them as payment for more then a 30% premium over spot. So it seems to me they need to really improve their manufacturing efficiency and their margin on these if they want them to be used rather then just collected. Constitutional silver is a better option for fractional amounts of previous metals for bartering.

Those sure look cool✌️I suppose no matter what there is going to be a premium!! Thanks for the info!

Very cool idea!

Interesting video, not for me but still very interesting. Thanks for the information.

I can't get enough of them! My whole family/friends have a keen interest in them! More than coins and bars, which is so wrong! Also, my preppier buddies are all in on these!!

Any precious metal barter currency is a good idea. At least to have a little on hand; stacking or not. Should your fiat currency suddenly collapse, you want some portable money that won't lose its value (especially if you need to cross a border). Big azz bars of silver are nice for holding onto, but its good to have something quick and easy that's valuable anywhere too.

Those are some gorgeous notes.

They are very popular. Sold out in a lot of places. Got some off Ebay today.

I bought a pack of 10 ones just for fun. I like the way they looked they were the Utah. I ordered a 50 Utah, and was going to send it away to a friend as a joke. After this video, I think I’ll keep it. Lol. Great video, thank you. 👍

I got my first one yesterday!!!!! It was the only one in the coin show!

Very pretty. I have a few. Bought the set $1, $5, $10, $25 and $50. I also got some Silver Dragons while they were available. However, the premium makes them cost too much to justify buying any quantity. I'll stick with coins until it's financially feasible . Both gold and silver.

Interesting idea

I'm very interested in any of these GoldBack notes, they are very attractive cool designs!

i'll be buying the nevada ones, these are such a cool gold item. i love 'em!

Lifetime circulation would be interesting. Foldable to put in pocket etc. challenges and breakdown of product

I'm thinking of getting just a few of the 1 dollar one's just to say I have them. They look really cool.

Pretty and inventive! I might buy one of each and frame it as a semi-artistic political statement.

Love these Goldbacks so much !

i missunder stood what these were when they first came out, then they slipped off my radar, now , thankfully ya brought them back into my focus,,great video

The other question I have is how will others trust it’s integrity in a bartering situation? Most people will say: what is this? Great video.

Fascinating. So you said: backed by gold. As in, the value of these bills stays with the value of gold? If so, that would make an insane investment given where the dollar is going

It is a really good idea when you consider bulk. You get a deal with you buy in quantity. When you buy individually, the price goes up - 1 g of silver = alot vs 1 oz -Id sell at .05g at a time if I could.

Really cool! Never heard of them

Thanks for sharing, I've never heard of these before. I like the concept, no doubt, my very first concern was the durability, they didn't look too durable, but they're obviously coated with something. To be honest, these open up more questions for me than anything, I mean, if no one accepts these as currency because most people don't know what it is, it may just be a waste of money (and gold) and relegated to just being a novelty item you can frame on the wall. But the idea is pretty clever, just bake in the precious metal into the actual currency 😆 that pretty sick. I'm sure whoever created these is on the Federal Reserve's watch list.

they look Fantastic...!!!....difinitely want some...!!!

Goldbacks are to be used in trade. Used them at our local farmers market and for dinner today. The local spread is in the 4-5% range. Plans are in the works for two more states.

i live in canada it would be nice to see them prodced here, i may pick up a few, definitely good for giving change and small purchases

Each has a really good story. Each lady stands for some aspect of hope or freedom

This video wasn’t even three minutes in and I was already in the process of buying 100GBs.

My first impulse is to consider buying some --- and I find the premium is fair albeit much higher than if you bought fractional gold. People complain of the 70%+ premium but then you go ahead and calculate the cost to create the product with the artwork. You will find that premium is quite reasonable. Or let us take a simpler experiment. Buy American Innovation golden dollar coins - the 100 coin bag to save the most on the premium - from the US Mint. The cost per coin is about $1.17 for a dollar coin. Not bad as these will be in uncirculated condition. Now let us say you want to make some money back on your purchase. Well, figure a nice 1.5 hours to go through them all to find the top 2 or 3 for your collection. Then you go through the rest and take out those of the worst quality say 7 - 8. You now have 90 coins. You decide for economy sake to sell them in 2x2 flips. So you search for flips for small dollar coins. Purchase them - probably get 100 for $3. Then estimate shipping - say .85 cents per coin. Well the initial cost of the coin has risen from $1.17 to $1.17+.85 cents shipping+ .03 for a flip= $2.05 per coin. And you have not even factored the FULL amount of time you have put in - say about 3 - 4 hours to go through the coins, order the flips, take photos and organize what you will keep, spend and sell. So let's set your hourly wage at $25/hour and total prep about 3.5/hours. So figure about $90 you should be paid for this ( and this is before you choose a sales platform and finalize a sale from an interested buyer). We have our coin at $2.05, we have 90 coins to sell and you are paying yourself $90 for the prep work you have done. So let's add $1 per coin for labor for a subtotal of coin+production costs+your time= $3.05. Of course the coin's bullion value is 5 cents but this is just selling a non-precious metal coin that targets collectors of not for circulation coins at potentially modest or low mintages. If you sell on ebay add 10% for potential fess - therefore your coin and costs to sell it = $3.35. You aim to make $1 profit so you have to sell the AI dollar at $4.35 (higher if you choose to encapsulate i)t. This is approximately in line with what ebay sellers offer for the 2018 P AI Dollar - www.ebay.com/itm/2018-P-D-American-Innovation-Dollar-Golden-Signed-Frist-Patent/223768374302?hash=item3419a26c1e:g:wHUAAOSwqctcYb37 So, consider the production costs for the Goldbacks and the technology they use to create it, one which the US Mint is not even using. Think too how much they appreciate the rise in gold --- that is where their profit is primarily coming from because to produce such a note with the technology that allows the gold dust to STAY and employing the latest polymer technology is probably one with high production costs. Plus although these are gaining traction - 200K was mentioned in the video, it is still not at the point that the production costs are so greatly reduced to drop the premium below 70%. But if that were so, the mintage would be quite a bit higher and its potential numismatic value diminished. So, I would not even consider the premium as this is a specialized product which requires advanced production methods. I think the best way to look at this is as one commentator alluded - think of its potential numismatic value down the road. I would consider this something like a 21st century Trade dollar or an update on the attempts in the 80's to do a cruder version of a goldback. The things going for it are 1) the quality of the note is very strong and attractive 2) compared to the production rate of US currency it is low 3) it possesses cutting edge technology that uses what has been going on abroad but with an additional twist of adding gold that does not risk shedding off from handling. 4) Other states are interested in using this so there is more room for variety and even potential errors cropping up over time if the goldbacks have legs. The things going against it are 1) the artwork although beautiful is not original but a reproduction or at least based on 19th century designs making it a little old-fashioned to some 2) gold prices left to free market forces is more volatile than a government set price as was tried for over a hundred years with mixed results but at least avoids the problem of the goldbacks - how do you barter something which someone may not feel is trustworthy as its value may have them at times to hoard the bills when gold skyrockets or reject it for barter when the price drops. Furthermore, history has shown that gold mining operations have shut down when gold has gotten too low --- what will happen with the production of goldbacks? 3) the fact Colorado and Nevada are doing this is a mixed blessing - it shows its popularity BUT it also shows that the potential of getting currency of some rarity may be passing 4) and finally there is some risk of the gold delaminating when exposed to high humidity - especially the $50, that is why sites offer special leather wallets to hold them. Also if a bill gets worn out there is presently no chance of getting it replaced ... this can be a problem in its use for barter and for holding onto it for bullion - I got this info from goldback.com FAQ - goldback.com/the-faqs. Numismatically and the beauty of the product, I would buy them. But considering the job landscape and the price of volatility of gold this is neither a good product for one stacking or prepping --- there are better products out there. For now I am on the fence about this product - as something to collect I am more for it.

Good to know about exchange rate i was wondering about that. I got a good stack of these going and will continue to trades these for trash USD.

I like this idea. I may even buy some.

My uncle is the CEO of gold back Jeremy Cordon he told me about his company and I got some of the original designs I knew that his business was successful but I didn’t realize that like they actually were popular

Good discussion on buying these as currency rather than as stacking coins. I just bought a tenner ("Justice"), my first gold purchase ever. I like these because they're within my budget--I can buy one with each paycheck, and not put a hole in my budget. They're easier to store and hide than coins would be. I admit, though, having lost my precious metals cherry, I'm going to be looking at silver coins as well. Technical nit: These are not gold plated, which is an electrolytic process.They are made by vacuum deposition, in which the gold is vaporized at high heat, then condenses on the polyester substrate, like moisture from your breath forming frost on a window pane. Hot argon atoms press the gold atoms into the substrate to more permanently bond them. [I am not personally familiar with this process; information gleaned here'n'there.]

With the fed printing money like it's going out of style; I think it's a good idea to have some around.

I wouldn't really have a place to use those where I live but I might get a set to because they look amazing.

Makes sense to me..their value is in the gold + manufacturing cost. It does cost to make 1000 goldbacks rather than a 1 oz coin. Plus that cost is passes on and on, so long as the goldback is in GOOD shape. I would not accept a mishandled goldback.

I would love to see these take off

I just found out today, that the next Goldbacks are going to be Wyoming, my home state. Definitely getting them.

I get some similar bits of gold when I need to top up an order for free shipping. Over the years now I have A LOT of them. Not sure how many but there are a lot.