I recently bought some goldbacks and there are definitely some pros and cons for precious metals stackers. As soon as I saw these gold notes, I was immediately impressed with their stunning design, and after learning more about them, I was even more impressed with the technology that goes into making them. Then, learning that four out of 50 states are using them - to some extent - really caught my attention.. So, I decided to pull the trigger and order a few to take a closer look for myself. Today I’ll be unboxing them and sharing my thoughts. Goldbacks are a type of private, localized currency made from gold foil with some pros and cons for precious metals stackers. Goldbacks are made using a proprietary process developed by a company called Valaurum in the state of Utah. Since 2019, Valaurum has been making goldbacks in various denominations, such as 1/1000th, 1/200th, 1/100th, 1/40th, and 1/20th of an ounce of gold. On the face of each goldback is either a 1, 5, 10, 25, or 50 goldback denomination, respectively. The gold foil is sandwiched between layers of a specialized polyester material. This layering process allows the gold foil to be both durable and flexible, similar to paper currency. They are widely accepted by local businesses in the regions where they circulate, which is currently in the states of Utah, Nevada, New Hampshire and most recently, Wyoming. Their value is tied to the current market price of gold. At the recording of this video, one goldback is about The designs are intended to reflect the uniqueness and identity of the community for which they’re made, and they’re inspired by the local history, culture, and landmarks of the area where they’re issued. Each Goldback features a feminine figure, symbolically representing a cardinal virtue. Will you be stacking these?
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