As a Goldbacker, I've done 300+ transactions in Goldbacks in 9 states. They rock. Most don't understand them. They compare the old to the new, which isn't the same.
You just like buying something with gold, but you are ultimately paying waaay more for the items because goldbacks are worth less than a $1 and less than Gold of equal price
@sauljimenez6738 sorry, you are misinformed. I bought most of my goldbacks when they were sub $4 ea. I'm spending them at about $5 ea. that over 36% in discounts. Plus, I'm side-stepping inflation and not supporting the failing fiat system. I see it as a win-win.
@@sauljimenez6738As an experiment take a bar of equal weight and see which one you can trade with. It won't be a bar. I can tell you have never even had one. Get one... Then talk.
I love goldbacks! Theyre the best gifts! I but $1's in 100 packs and give em to my kids' classmates and teachers/school staff, as tips, as b-day presents etc. Its gold! Everyone likes it. Plus it is spendable in barter. I buy bags of chicken feed, crockpots at yard sales, and other things. My friends and I used them to pay each other for stuff, too.
What a GREAT story. I love the idea! We all need to try and test the bartering process as often as we can. It will only start to establish a network of people and create awareness. Thanks for sharing!
@Why90Silver the networking is what's important. I'm on an Army disability pension and I work as a salesman at Lowe's to bring in extra. I talk to lots of people at work. More and more of them are waking up to the reality of our "money" and Ive gotten a few of them to go to my LCS (I live just south of Laje City, FL) and start their own stacks. I've trued at every pawn shop and coin store in a 40 Mike radius and not a one of them are interested in goldbacks. The pawn shops don't want them cuz they can't scratch test them, and that made my jaw drop. These people don't even know what a Sigma is and that's why I won't buy anything from them. The coin shops don't want them because there's no room for profit in them because of the premiums. Totally understandable. I keep them stacked for future use in paying for goods and services. Once the masses wake up and awareness spreads they'll shoot up in value and utility. I just sub'd. I like what you're doing.
@@TheHaughtyOsprey Much appreciated!!! I’m grateful for having started purchasing Goldbacks last year. There already worth more than I paid for them. Can’t wait for gold to take off $$$! That will just help the Goldbacks by default. I love having physical gold in my possession! 👍🏻
Nice! They make a great gift or a tip at a restaurant as well. I failed to mention in the video that you can try to barter with them locally regardless of what state you live in. I’ll have to plug that into another video. Thanks for the comment! 👍🏻
In Oregon, I've actually used them for tips to gas attendants and made a few purchases at stores. People love them, and I can't wait for the Oregon issues. Oregon is a politically divided state, with mostly conservative towns of smaller populations and a few very liberal ones with high populations. But goldbacks and silver will become a welcomed currency if times continue as they are. We naturally prepare here due to weather and supply chain issues in rural areas.
I’ve been on the fence about Goldbacks, but they’re starting to grown on me. I’ve got several, but never really considered them part of my stack. That’s starting to change too.
I think Texas has been rumored to be next. It takes a minimum of $500,000 to start the process of a new state. They just have to invest while they start the process. However I'm pretty sure they would get a bunch of those 500,000 donors together before launch.
It is 100% confirmed, the Texas Goldbacks will be called Lonestars! They will be available soon! They will also have the state seal of Texas on them, they look great, they are going to be fun to stack
@@Hugo.345 I actually happened to meet the creator of them today, great guy. We talked gold for a while! He showed me pictures of them, one of them has a steer, another has The Alamo, and I can’t recall the other design. But he said they will be available really soon, like the next 30-60 days. I’m going to be in touch with him so I will get exact details for you. It was really cool to meet him.
@@Why90Silver thank you! I subscribed and am looking forward to more insight and knowledge about buying gold, silver and other precious metals and currencies
Gold coins will always be better than Goldbacks, though I see the attraction to Goldbacks. I buy only fractional 22k Gold coins, and the premiums are what you pay for their massively increased utility and massively larger universe of possible buyers over 1 ounce coins or bars. Good video!
Most dont understand that GBs or some similar variation are the ONLY economically viable future for PMs. The adoption is only going to accelerate from here.
I like the small gold coins such as ducats and 5 pesos and silver. I have a few goldbacks wish more states had them, but I prefer coins. A ducat ranges from $333 to $350(a 1/10 gold American eagle is $308), An Austrian or Netherlands ducat is nearly 1/9 ounce btw.
So as of today, the premium is a little over 100%. If the main premise of the goldbacks are to be able to use gold in small transactions, it is a failure. Pre-65 works extremely well for these small transactions and will be universally accepted. Also they fit easily into your pocket. People will be afraid to accept these goldbacks because they are not as recognizable and may worry if they fold them in their pocket like we do with cash, they may not be able to use them with the same value. Granted the artwork is beautiful and may justify the premium. But as art. Not as a tool of trade. And comparing goldbacks’ premiums to those of fractional gold (as opposed to comparing to junk silver) is not apples to apples. Yes they are both gold. But remember the whole premise is to be able to use them for small transactions.
I heard that Florida is supposed to have their own in 2025 and already making Florida Goldbacks and I heard North Carolina is supposed to vote to have Goldbacks as currency in North Carolina. I hope so, and I hope more states follow suite very soon.
I love goldbacks, but I don’t think they are good for stacking. Bang for the buck you are going to lose. If you want to buy an ounce of gold and gold backs, you’re going to spend $5000 compared to just buying an ounce of raw gold at $2500
Some problems with Goldbacks ........... 1 it relies on new technology to always get an updated conversion price and to be manufactured ..2 its only in a few states and used at limited store fronts .. 3 even though you're getting the same return of product on the high premium which makes that a wash ..you are however losing because you could be stacking 3x 4x the amount of bullion in its place .. 4.Silver does the exact same thing in "hyper" fractional denominations ...
3x Premium's on Goldbacks are absurdly high and allow no guarantee of authenticity of Gold contained within. Until the premiums drop to match the Gold Value they r just expensive plastic.
Do you use iOS, or Android? There are community built apps in development right now for both platforms. Both are pre-release but you can try them out by contacting the creators.
I'm beginning to think that they stack well in a safe but not in a wallet. They just released the commercial that Florida is getting theirs next. Landis Studios Gold Coin Grab Bag Arkansas Ur welcome
💯 to you ! Why90silver , . The handle name is pretty slick 👌 !! 2. I was digging the experiment on the detector with the gold back and metal detector. New sub here . Just out trying to find the stacking community . About 6.mo into stacking myself. Goid stuff man.
to those who hate GB, but love Gold. Realize that GB buyers will increase your Gold investments. They are both good. Yet GB is useful every day for life
@@PokemonPackDaddy If you’ve got the money to buy buffaloes at the current price then sure, but if you’re just wanting to get your hands on some gold that anyone can afford….! That’s the reason I’m buying Goldbacks cause there within my budget and it puts gold in my stash. 👍🏻
@@PokemonPackDaddyif you want small amounts just buy 1/4 ounce coins or 1/10 ounce, the premium is still considerably lower. The goldbacks do look awesome though.
This is NOT an attack on you. To each his own. But you said the goldbacks have doubled. Well, their premium is almost double. So IF gold doubles, you break even on your goldbacks. If you buy a generic ounce of gold and gold doubles, your money doubles. So IMHO, goldbacks are a complete ripoff. If you're looking to pay with precious metals for a meal or whatever, silver is the way to go. Just my 2 cents.
Thanks for the comment. What I was referring to was the following: In 2020 the price of gold was around $1500 per ounce and a (1) Goldback was around $2.50 cost. Today gold is I. The $2400 range per ounce and a (1) Goldback is at $4.98 cost. If you had invested $2.50 in a Goldback in 2020, just 4 years later you could purchase approx $5.00 worth of goods. There’s your “double” in value. If gold continues to soar in price, the Goldbacks you purchase at current prices will also have more purchasing power. Again, some people love them others don’t. That’s the nice thing we still have is the freedom to choose. I hope this better explains what I had mentioned in the video. Once again, thanks for the comment. I’m sure others may have felt the same. 👍🏻
problem with fednotes is the digital banks handing over trillions to terrorists emptying out your accounts. Funny money can crash. Gold is gold. GB just makes it easier for transactions. It's a stable element
@@Johnmartins648 this is my strategy that almost always works. Go to any place that’s independent mom and pop or small. Pay regular and show you’re a repeating customer. Then offer the Goldbacks, I say roughly this but it’s really a back and forth, “Hey [name] these are $25 of Goldbacks. They’re made of 24 karot gold and increase in value over time. There’s a bank called UPMA that will give you cash for these. Because they’re made of gold they increase in value. I would like to buy that pizza with them.” Then you look up the exchange rate
I love to hear you people and also read the comments for people supporting this trash. Here is all you need to know if you paid 4 dollars for a 1.00 goldback this is a 4k oz of gold. You guys can say whatever you want but that is a pathetic way of holding money.
@Why90Silver don't worry my stack of metals will ensure I do just fine. Precious metals should be part of everyone's portfolio, but they should be bought with common sense. There is nothing sensible about investing in laminated gold leaf.
