What Are Goldbacks? Alt Currency Gold-Minted Bills Explained

Small Denomination Gold Certificates for Everyday Use

what are goldbacks? this is a front and back view of a 50 goldback note from new hampshire is a gold-minted billIt may seem out of place for a plumbing supply website to trade in gold currency. However, at PlumbersStock.com, we see Goldback gold certificates as a potential hedge against modern-day monetary and banking systems insecurity. We believe in the value of gold currency so much that we now accept payment in Goldbacks.

Acceptance is available at all of our sister company’s brick-and-mortar locations in Utah and Nevada. Online purchases are a little more complicated for paying with gold currency (contact our Customer Service team to pay with Goldbacks). However, buying Goldbacks here is easy.

So, Exactly What Are Goldbacks?

Goldback notes are gold-minted bills that look a lot like traditional cash, conveniently minted in small-denomination notes to enable daily utility. Their design ensures a clear baseline value because they are made with actual gold! Most modern transactions are digital nowadays; some are even high-tech-digital, like cryptocurrencies (which we also accept now). Digital payments dominate the modern financial world. Yet gold is still relevant everywhere on earth because gold is timeless. Throughout human history, gold has been revered as a store of value and a symbol of wealth. With the introduction of the Goldback currency, gold plays a relevant new role in the modern world. These minted gold bills combine the intrinsic value of gold with the convenience of paper money. This offering makes for a unique and tangible alternative for secure transactions.

“Goldbacks are not a promise to pay in gold. They are the gold!” — Benjamin Shaffer, Merchant Services, Goldback Inc.

Where Are Goldback Notes Used?

As of this month (May 2023), Goldback has minted five bill denominations for four different states:

Goldbacks are used in many other places than these four states, but acceptance in these states is so significant that unique artwork was sponsored for state-specific mintage. If you want to know what merchants accept Goldback dollars, they have a business locator on their website. You can get a listing on Goldback’s merchant map. Simply fill out the form at this link. If your business is approved for listing, we’ll even send you 5 Goldbacks (a ~$21 value). Show it off to your customers (or spend it on yourself) to help increase engagement in your community! Learn more about becoming a Goldback merchant here.

A Brief Overview of Goldback Currency:

Goldback currency represents a fusion of two financial realms: precious metals and fiat money. Minted with gold foil, each bill contains a specific weight and purity of gold, ranging from as small as 1/1000th of an ounce to as large as 1/20th of an ounce. This unique combination of gold’s intrinsic value and the ease of handling paper money makes Goldbacks a versatile form of currency.

Goldback currency draws its inspiration from various historical currencies backed by precious metals. Gold-backed currencies have always provided stability and a reliable store of value. The age-old problem is that gold has been inconvenient for small transactions…until now. Goldbacks have revived this tradition, offering individuals and businesses an alternative to traditional fiat currencies and volatile cryptocurrencies. Goldbacks are made using 5th-generation vacuum deposition technology (see how they are made).

Benefits of Goldback Currency:

front and back view of utah's goldback 5 bill

  • Tangible Store of Value: Goldbacks possess a real value inherent in the gold. Digital assets and fiat currencies are subject to inflationary pressures. Gold has stood the test of time. This precious metal is a relatively stable and universally recognized form of wealth preservation.
  • Portability and Security: Goldbacks are lightweight, portable, and securely encased in a protective layer, allowing easy transportation and safe storage. Comparatively, physical gold bars and coins are heavy. Consequently, small transactions are difficult with gold bars but easy with Goldback.
  • Divisibility: The various denominations of Goldbacks ensure that users can easily pay for transactions of varied sizes. Imagine trying to buy a loaf of bread with a gold coin! A one-ounce gold coin can probably buy all the bread at a local bakery. Denominations for Goldbacks are 1, 5, 10, 25, and 50, with the one currently valued at around $4 and the 50 around $200. There are denominations to meet the most common needs, and the online calculator makes it easy to perfect the math. It’s convenient knowing that whether you’re buying 10 or 1,500 Goldbacks, you know the price will be 10 or 1,500 times the current Goldback Exchange Rate.
  • Authenticity and Trust: Each Goldback bill incorporates advanced security features. Holograms, textures, and unique identifiers make counterfeiting nearly impossible. This instills trust in the system. Individuals can confidently engage in transactions without fearing fraudulent notes.

What Else?

  1. Goldbacks do not need anyone’s approval to spend.
  2. They do not specify where to spend or what to spend them on.
  3. Goldbacks are anonymous – there is no need for anyone to know who you are to spend them.
  4. There is no payment processor or outside party who can freeze your account.
  5. Goldbacks generate no data on your transactions for third parties to record.
  6. You can spend, trade, or purchase without fees.

Practical Applications:

Goldback currency finds practical applications across various sectors. The two most common are:

  • Retail and Commerce: Merchants can accept Goldbacks as an alternative payment form, allowing customers to diversify their payment methods. This opens up new business avenues. In turn, consumers end up with greater financial choices.
  • Wealth Preservation and Investment: Goldbacks serve as a means for individuals to preserve wealth and hedge against economic uncertainty. It can be a great way to diversify your investment portfolio. Goldback offers a stable and convenient alternative to traditional assets.

Gold in Your Future

Your business can conveniently register as a merchant so that consumers know you accept Goldbacks. We have a promotion for businesses wanting placement on Goldback’s merchant map. Fill out the form at this link. If your business is approved for listing, we’ll send you 5 free Goldbacks (a ~$21 value) for joining the ranks of businesses like us. It’s that easy. We’ll also send you a Goldback Cash Register / Window Sticker to help your foot traffic customers know to bring you their gold!

In Summary

Goldback currency represents a modern twist on a historical monetary system. Goldback notes provide individuals with the stability and tangibility of gold with the convenience of paper money. With their inherent value, portability, security, and versatility, Goldbacks are poised to revolutionize how we handle physical money. As we navigate an increasingly digital world, the enduring allure of gold has found a renewed purpose. That comes in the form of Goldback currency. It’s a solid bridge between the past and the present. A beacon of financial stability in uncertain times. Leave a question in the comments if you are still wondering, “what are Goldbacks?

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