FAQs

Goldbacks

• What is a Goldback?

  A Goldback is a physical, interchangeable, gold-backed note containing a thin layer of 24-karat gold sandwiched between durable polymer sheets. They are designed for everyday transactions and come in various denominations.
• How are Goldbacks made?

  Goldbacks are produced using advanced vacuum deposition technology, where atomized gold particles are layered onto a polymer sheet and then sealed with another protective layer, creating a durable and flexible gold-infused note.
• What denominations are available?

  Goldbacks are available in five denominations: 1, 5, 10, 25, and 50, each containing progressively more gold. For example, a 1 Goldback note contains 1/1000th of an ounce of gold, while a 50 Goldback note contains 1/20th of an ounce.
• Are Goldbacks legal tender?

  Goldbacks are not recognized as legal tender by the federal government. However, they are accepted for barter and trade in certain states, such as Utah, Nevada, New Hampshire, Wyoming, and South Dakota, where businesses voluntarily accept them for goods and services.
• How do I use Goldbacks in transactions?

  To use Goldbacks, determine the current exchange rate, which is available on the Goldback website. Divide the price of the item by the exchange rate to calculate the number of Goldbacks needed. If the amount isn't a whole number, you can pay the difference in U.S. dollars or receive change accordingly.
• Where can I purchase Goldbacks?

  Goldbacks can be purchased from various precious metals dealers, both online and in physical stores. The Goldback website provides a list of authorized retailers.
• Are Goldbacks a good investment?

  Goldbacks offer a way to own fractional gold in a spendable form. They can serve as a hedge against inflation and provide a tangible asset. However, they carry higher premiums compared to standard gold bullion due to production costs. It's essential to consider your investment goals and consult with a financial advisor.
• How durable are Goldbacks?

  Goldbacks are designed to be durable and can withstand regular handling. However, like any currency, they can crease or show wear over time. Storing them in protective sleeves or specialized wallets can help maintain their condition.
• Can Goldbacks be counterfeited?

  Goldbacks incorporate several anti-counterfeiting features, including intricate designs and the unique glisten of gold. The advanced technology used in their production makes counterfeiting extremely difficult.
• Do Goldbacks have collectible value?

  Beyond their gold content, Goldbacks feature intricate artwork representing various virtues and state-specific themes, making them appealing to collectors interested in unique currency designs.
• How is the value of a Goldback determined?

  The value of a Goldback is primarily based on its gold content and the current market price of gold. Additionally, production costs and market demand can influence their premium over the spot price of gold.
• Are Goldbacks accepted outside the issuing states?

  While Goldbacks are primarily designed for use in specific states, they can be used elsewhere if both parties in a transaction agree to accept them. Their acceptance is voluntary and depends on mutual agreement.