Goldback

What is Goldback?

Goldback® is perhaps the world's only circulating convertible physical gold currency. Goldbacks are created in various series to circulate in accordance with current laws and in jurisdictions such as Utah, Nevada, Wyoming, New Hampshire and South Dakota. Unlike most gold products, Goldbacks are designed to be used as a currency with interchangeable denominations rather than variable premiums based on gold content. This means that a denomination of fifty (1/20th of an ounce) can be exchanged for fifty twenties (1/1,000th of an ounce). Goldback is a unit of measurement. One Goldback is equal to 1/1,000th of a troy ounce of 24 karat gold. One thousand Goldbacks of any combination equals one ounce of gold. They can be exchanged like other forms of non-rotating gold money anywhere in the world because they have intrinsic value. They are easier to spend than other forms of gold because they can be used in small transactions and do not have variable premiums.

Are goldbacks legal?

Yes. Goldback is a gold product. Goldbacks can also act as currency (in certain jurisdictions where this is permitted by law) or be a tool for exchange elsewhere. For example, Goldbacks are legal tender in Utah. There are many thousands of other local currencies in the United States, and there are currently nearly a hundred active ones. There are also many thousands of different gold products available for sale in the US. The goldback is a combination of both. The goldback is valuable mainly because it is gold.