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The Benefits of Goldbacks

Goldbacks are 24K gold notes that allow you to buy and sell goods and services with very small quantities of gold. With Goldbacks, you can be free from the control of inflation, trade anonymously, and be completely off the banking grid. Goldbacks are versatile, and can be used for everything from buying a cup of coffee using the 1 Goldback note, to major purchases using the 25 and 50 goldbacks

Completely Off-Grid

With Goldbacks, you can be completely off-grid. Goldbacks are not reliant on banks, governments or computers. This means when the CBDC shows up, you will still be able to make transactions without government surveillance or any other outside influence.

Small Quantities of Gold

How, exactly, were you planning to barter with your 1 ounce American Eagles when you need just 2 dozen eggs, a new jacket, or a tank of fuel? Goldbacks solve that issue. Goldbacks are a great way to purchase goods and services with very small quantities of gold.

Inflation Resistance

Goldbacks contain 24k gold and are therefore inherently resistant to DC’s out-of-control money printing campaign. Gold is, and always has been since the book of Genesis, a safe-haven asset that can hold its value even against trillions in fiat being copy-pasted by the US Federal Reserve banking cartel.

Portable and Convenient

Goldbacks are also extremely portable and convenient, being the same general shape and size of the Federal Reserve Notes you have used your whole life. Unlike Federal Reserve Notes, however, the change physical size as the quantity of gold content increases. Thus, a 5 Goldback is larger in size than a 1 Goldback and the 50 Goldback is the largest of all the denominations.

Exchange Rate

The manufacturer of Goldbacks publishes an exchange rate every business day. The exchange rate is an average of the paper dollar exchange rate for a single Goldback across various published online sources. Paper dollar rates available at various currency exchange markets vary depending on real world economic factors. 

What About the “Premium” to the Spot Price?

When it comes to the production cost of gold coins, markups are mandatory. That should be obvious. All retail products come with a markup or premium. The reason is simple: time and energy transform raw materials into the finished product and the consumer needs to cover that cost.

When the U.S. Mint converts, as an example, a 1 kilo bar of gold into ~ 32 one-ounce U.S. Gold Eagles, the sale price of those newly minted Eagles will necessarily be higher than that of the 1 kilo bar. Likewise, if the Mint converts the the kilo bar into 1/10th ounce coins, the cost will explode even higher due to the same general fixed cost per coin (approximately $80 according to the Mint) is then applied to the sale price of the coin.

As a result, the Mint has consistently sold 1/10th gold American Eagles for a 40% premium. If the Swiss offered a 1/500th of an ounce gold coin back in 2020 with a ~5,000% premium, you can get an idea on what the U.S. Mint would charge for a 1/1000th ounce gold Eagle.

Goldbacks have a premium of around 100% over the spot price and its popular in social media to dump on them as being unreasonably priced. Some even think that they should have a 0% premium. But the criticism ignores two basic facts. First, there is no product you can buy from the store that does not have a premium to the “spot price” of the raw materials. For the same reason you’d look crazy demanding to buy a head of lettuce for the “spot price” of the seed that produced it, demanding a 0% premium for a miracle of technology that is a Goldback is silly. As explained by Goldback, Inc. they use advanced micro-technology similar to the kind that adds gold to microchips. Goldbacks are not stamped out of metal, but use a vacuum deposit technology that requires specialized machines, specialized skills, and of course energy. And yet, Goldback, Inc. has revealed it can make a Goldback for around $2 which is 1/40th the cost the Mint claims it costs to make a single American Eagle.

The second defect in the “too expensive” argument is the fact that a Goldback has more utility than a gold coin. Returning to the lettuce example above, a head of lettuce has more utility – think uses – than a lettuce seed. The added utility is worth something more than zero. And so far, the market thinks the utility of a Goldback is at least 100% of the spot price.

Join the off-grid revolution, inflation-proof your money, and start using Goldbacks.

Click here to buy or sell goods and services for Goldbacks.

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