I started buying Goldbacks when they were $3.29 for a one. Each denomination has more gold than stated. They're value has steadily increased, and in time, I believe I'll profit.
If you were buying them at 3.29 and it’s only 1/1000th of an oz then that means you were paying 3,290 for an ounce of gold that could’ve just cost you 2000-2400 depending on the price of gold on the time you got RAPED!!! 😂😂😂😂
These are good to have I've been trading gold and silver for guns, food, and equipment. To me the goldback were the best thing cuz I did not have to overspend my gold or silver and when I do some change. I always have to get more items to make up for the gold and silver that I don't need. They always trust to go back because of the security system that's behind it
New Hampshire we used them for contractors, business, farmer market and so on and they get used across the NH state. I used and get paid for some electrical work I put them in sleeves. I buy stuff from farmers market I have gold and silver coins but it fun to used them. 10,000 plus business used across NH. I remember buying 1 oz gold coins $ 210 an oz and up and thought they would never hit a thousand dollar an oz still have all those coins to day. I remember buying suitcases 1 suitcase contain 250 oz silver from at $5.00 an oz those days are gone work are a electrician helper as a teenager.
As I see it, the major issue with Goldbacks is that purchasers have to pay for the costs of production, unlike fiat. But, as with premiums for gold and silver, if you hold on to them long enough, the increase in value will wipe out those early costs. I'm just not sure I want to experience the economic chaos that will make that happen. Apologies for the wall of text. Also, howdy from Wyoming!
@@StatesideStash In that case😂... in my opinion Goldbacks will be subject to deterioration/damage over time, unlike physical gold and silver. I prefer physical gold and silver coins. Gold and silver are literally portable real estate.
I had no idea. I think it's great that states are legalizing gold. Even if it's separate from Federal, its giving power back to the States. I can dig it.
It really depends on why you're stacking gold. If you're stacking for weight, getting gold shot or large gold bars are good options. If you want gold that can be spent, goldbacks are absolutely the best choice in my opinion. The premium isn't the main consideration for money. The spread and utility is. That's why we don't judge the USD based off of it's melt value, which is basically 0. We judge it by how many goods are services we can trade it for. it has utility, therefore it has value. (for now..)
@@Goldbacker00 well said! I always preach that you should buy what YOU want and not care what anyone else says. I just give my opinion on different things
Pretty to look at but I wouldn't stack them but I do grab a few here and there and I give them out when I go out to nice dinners and whatnot to the staff for a tip and whatnot.... kind of my way of passing along hey check out gold and silver😂
I looked into that. The 1/1000 there’s no way and someone said silver seeker tried with some bigger ones and wasn’t successful so as far as I know it’s not
Sreetips did successfully melt them to extract the gold. They contain slightly more gold than stated, because they never want a Goldback to fail an assay.
Goldback was at a recent ATM convention, they were doing interviews an posted to their Instagram account of people trying to rip the note but no one was successful
My personal opinion…I love these goldbacks. I understand how trying to get people to take them now, …most do not even know about them. But when there comes a time when a financial disaster hits, people won’t care what form the gold has. They’ll take it.
That’s the beauty of gold and silver that everyone can enjoy what they want to enjoy. If you like goldbacks then more power to you! Just not for me personally
I'm all in for goldbacks, when the dollar value crashes and the coins and bars will be needed, it's going to be difficult braking them down fractionally to barter with. But the goldback will already have an exchange rate on it i.e. 1Goldback = 4.89 as of this comment. So if you purchased an item(s) costing $8.00 you pay two Goldbacks with change coming to you. it is already being used in five states.
@@StatesideStashI have been carrying silver for 20+ years. People don't get it. Given a crisis and they'll figure it out but I can spend goldbacks now, not everywhere, it make sense to me.
If you don’t hold it, you don’t own it. There is a difference between physical and a promissory note. That extra step is a real doozy in countries that have experienced economic collapse. I’ll leave it to the Cypriots, Lebanese, Venezuelans, and others to tell you how well that worked out for them when push came to shove.
@@cjallen425 you know of businesses who would be interested? And would they only want the notes specific to the locality (TX people only interested in the TX goldbacks)
Id like to have 1 of each state and size but they definitely aren't for stacking. I only have 2 of them and do love them and the art. Id honestly like to make a classy looking wall frame with black and gold frill.
@@StatesideStash off the top of my head I'm not even sure. On a different note but related, I ended up trading my maintenance man on of my $1 Goldbacks for one of the original Silverbacks and it turned out to be an amazing trade for like $25 in value. I was offered $25 and I wouldn't take it. I figured the original will definitely go up in price over the years, especially since there was a set mintage on them (can't remember how many off the top of my head without having to pull it out). I'm not even a huge fan of Silver Dragons but I figured it's a great collectors piece to have.
@@StatesideStashhello, on 4/15/22 I paid $180.46 for a 50 Goldback. I took a peek at eBay, and a 50 Goldback is selling for $235.96 today. I didn’t scroll the whole page. I just looked at the first three I came upon. I hope this helps you out. 👍👋
Yeah, I bought a few, a couple 1s of each state.. and one 5 that I liked the design of....I just like the design, and the concept, but the fact that it just feels like taking whatever dollars you have and cutting it in half for gold designs...I don't feel like they're very practical, not yet. I still like them, but, I like them more for being goldbacks, than gold, if that made sense.
@@StatesideStashSomeone had a video somewhere aroundabouts the tubes supposed to be about how a goldback kept up in their wallet after a year, and of course I didn't watch it (wasn't that helpful?) ... I'll have to look for it...but it kept up at least that long. I understand though... I can't bring myself to crease it. I used to be a trading card collector/trader, and it gets that feeling outta me. Heh, maybe this entire thing has been an elaborate ruse by whatever company makes the wallets to sell overstock cell phone cases. Sounds about like something that would happen nowadays.
@@StatesideStashI heard it's also supposed to go by some exchange rate that is separate from spot, something like 1 goldback = 4 something dollars...but, how many people at places that say they take these are actually going to know that? I have been a cashier here in the southeast and nearly gotten into fights with people over Susan B Anthony dollars, I dunno how goldbacks would go over.
They're for spending, not stacking. So they solve the problem, nothing to break down, just use the bill. Goldback's will not erode with inflation, already better than fiat. I would always take a Goldback over the paper equivalent.
They are not intended for collecting. They are intended to actually be used as currency with the premium included in the value. That's why people have a hard time understanding this. Collecting Goldbacks is like collecting currently used Federal Reserve Notes. The concept is still very early, but there may come a time when enough people understand the idea that it is better to be transacting in a currency that appreciates against the FRN. Think about the premiums on the FRN (taxes and inflation) likely far higher than 100% over the course of your lifetime.
@@StatesideStash Not true. I got some last summer at 3.80 and their value is almost 5$ right now. The people using them include premium so... you are wrong. Check your ego.
@@StatesideStash Also you can be like the people that didn't believe in Bitcoin. You will always have the benefit of transacting in it, but you will lose the benefit of appreciation of getting in early as people realize using FRNs is detrimental.
@@mastershepherd3777 🤣 no need to “check” my ego. If I buy a gold back at $5.50 and the gold back website for that day says they are worth $4.75 and I pay a $5 bill I lose .50. If you like Gold backs that’s great I’m happy for you, it not for me or for a lot of people. I prefer gold and silver coins over high premium laminated gold dollars. We all have our preferences
@@StatesideStash Right well don't buy them like that? There are sites that sell them at or below cost?! I guess you are not interested enough to know this. That's fine but you need to understand your opinion comes from ignorance if that is what you believe. And cool I buy bullion also, but I appreciated the value of not needing to buy an expensive tester to carry around when I would like to use metal as currency. If you are watching the scene fake bars and coins are becoming more common now with appreciation.
You are correct. The spending power of 1,000 goldbacks is $4,880 today. That means you get more than you pay for them in spending power. But if you want to get gold coin/bullion for them, you can get 2 oz for 1,000 Goldbacks, which Ive done. I love Goldbacks. Ive done over 122 transactions. Spending sound money is way better than selling for fiat. IMO.
Correction 1000 GB's is $4880 only in a state or place that accepts them .. if the spot price drops below your purchase price now what? you either spend and lose money or hold and stack until the price returns to the original purchasing price which defeats the whole purpose being touted as a daily spender ..
@preciousmetals7114 Luckily, I've not bought Goldbacks over $4 yet, so if they decrease in value, which they will as the market fluctuates, my spending is still positive. Last week I found a LCS selling their Goldbacks at $4ea, so I bought all I could afford. Several were older so I ended up selling them for a profit above that. I was lucky, for sure. Ive spent Goldbacks in 9 states now. So that's less of an issue IF you can find someone willing to take them.
So you’re saying people are paying 4880 for an ounce of gold when the ounce of gold going rate is 2650-2700? Where is the logic in that? Ya’ll smoking crackkkkk.
I don't hang out with any other stackers and don't go out of my way to ever try to talk about stacking with them or anyone else for that matter. I think it's cool that there's a community of people that are interested in precious metals and their roles as currencies and tangible assets. I don't use any social media platforms so having discussions with people who are interested about the reasons for the value of precious metals and the overall joy that comes with collecting them is a rare opportunity for me. I am going to subscribe to this channel for sure and try to be active in the exchange of information with you guys to hopefully help each other grow our stacks wisely
@@gregbeaudoin2443 Greg I just want you to know I responded to your email but it seems it was forwarded from someone else so let me know if you got it or not
I'm not sold either, but I think you are missing the point. First they are not a "One Dollar Goldback" The "1" is just a unit of measure. The "premiums" people talk about is a myth. The cost of a Goldback is the exchange rate. You can buy one today, spend it tomorrow and be out nothing. I see them sell all the time for under the exchange rate. The vendors have a app. They enter your total due and the goldbacks received and the app tells them the change due. I'm not a fan either, but can see lots of upsides. I dont know of any other Gold you can buy today, and spend tomorrow without a loss. The only way that happens is if Gold drops too. Seems to me being its voluntary, you except them when the price is down and exchange them when the price is up. WIN... WIN... If I was a business, I would except them. There are banks now where you can deposit them and collect interest. There are also cash machines where you can buy or exchange them. Bottom line is anyone who excepts Goldbacks would probably still except "real gold" (for lack of a better term)
100%. These this are dinomite. I've carried a full set for over a year and they are just fine. I bent one once and that was sad but I spent it and there was no issues.
something sounds off with the no premium myth ..alpine exchange goldback inc and valarium are for profit companies their not doing this for free i can guarantee you that... or their lying to us about the cost of manufacturing .. if their selling for under the exchange rate without the spot price changing someone is losing some serious money ..
@@danielbbq how do they hold up in a bifold or trifold wallet? not a huge 8"straight flat wallet.. who in the world would put that in their back pocket ?.. I've heard many comments coin shops won't accept or they give less for beat up bills because the polyester scratches easily.. it would seem very inconvenient to have to send them back paying shipping plus the waiting time both ways ..
@preciousmetals7114 I don't have a smaller wallet so we'll have to defer to someone who can answer. I have a larger wallet that I carry in my bag. I also keep a the Prepper's mini-stack. An amount in my vehicles, bags, packs, office, etc. Anywhere I might be and they might be of use. I know, I'm something else. We'll see over time how things turn out. I like them over fiat so I fry to use them as often as I can.
Me personally I would just keep buying 1/10 oz of gold each month. If you can't afford that you can buy the gram bars. There's lots of different price ranges for people to get into gold.
I purchased quit a few when they were $3.96 per $1 gold back. The gold value was basically $2.04 per $1. Today they're worth roughly $2.37 in gold. The increase since is double the increase in gold. Makes it harder to reach break even point. Still I like the lower denominations. However a $50.00 gold back is in range of 2 1/2- 3 gram chunk of gold. They are fairly sturdy, video of one in a wallet for a year, held up pretty good. The company will replace them for free
There are 5 states issuing them now and 5 more in the works. Im an early adopter and loving them. Time will tell how they catch on. Cheers for braving the goldback universe.
I contend that there is no premium. It is the cost of the product. Is there a premium on pizza or a Porsche? Premium is a made up word for stackers. IMO. It's the cost of getting gold/silver. Now selling vs spending is a real issue worth working about. IMO.
its a cool concept, imagine if the USD was redone to the gold standard in this way? where ATMs dispensed goldbacks and you can use them at any business
I like Goldbacks personally. I buy a few here and there. Not going to back up the truck, but they are a very small part of my stack. New subscriber, great content.
I believe in diversification. Not saying I fully agree with the hold backs but to buy one here and there and to have a stack set aside is 100% ok in my eyes. Thanks for watching!
After yall get a grip on this cbdc and brics it will make more since. For me it's to big of a clue short of speak to not buy them. More states are adopting this method. Study brics, cbdc, quantum computer. After you understand the goldback and laws around goldback.
I’m in Nevada, I bought some last year and love them, but now that I have some I don’t really want to part with any😂. I just got some just to have them. With that said, I wouldn’t buy them again especially with the premium, but again, I’m glad I got some. Great video, smart👍🏻👍🏻🇺🇸🇺🇸🇺🇸
The more I stack the more I look at the real treasure......junk silver. Only I don't buy heavily circulated coins....I like BU coinage and quarters, dimes, and half dollars. As for gold....I like buffalos.
I purchased at $3.80 per GB and they are now up to $4.79. It is not a good way to accumulate gold (just like buying in all grams or tenth ounces) but to have some in your assets will not be a bad idea. Make sure you buy the lowest price and on a dip. You should hold them for a long time and only sell to people you know if you can make a good profit. Many would be willing to pay you $5 or $6 for a single gold back. Don't invest too much in these though. Buy whole ounce coins or bars.
Bottom line is you got raped. You bought 100 of them at 3.80 (380.00) for what 100/1000th (1/10th) of an ounce When you could have just bought a 1/10th oz gold coin for 250.00. And now you say they are 5.20 for 1/1000th of an ounce that means you are literally paying 5,200 for an ounce of gold that is melt at 2700.00 LOL. How does it feel to get raped that bad?
Goldbacks are not dollar denominations - you keep saying $1, $5, $10, $25 and $50 - they are just 1, 5, 10, 25, and 50 based on 1000th of an ounce of gold.
8:13 "Look how I can treat my worthless paper that I carry every day that's the same size as this tangible gold that's too large and worthless for me to care about" Good luck buying groceries with 1oz. Gold coins when the economy tanks buddy.
I like em to an extent...i have a few, but they seem to me they are more of a novelty item, what i dont like about em, if you put em in your wallet and they get a crease, it damages it like, decreasing its value ... Also, i cant spend them here in Michigan, i can maybe get my money back if i sell them on eBay...gl!
Goldbacks are to be used as money you can spend them without paying capital gains article 1 section 10.8 of the Constitution says only gold and silver will be used to pay debt. If you spend that quarter ounce gold coin it's only $5 . It's a currency
@@StatesideStash the dollar was based off of an ounce of silver ..the gold back is based off of 1/1000 of an ounce of gold. . is 1 yen worth $1 no . There is no dollar face value on a gold back unlike gold coins which have a face value in dollars . Currencies have an exchange rate they are not all =
I’m right there with you brother, I am not a fan of the gold backs, the smallest amount of gold I will purchase is a 1/10th oz gold coin- keep stacking! 💯💪🏼😎🦅🇺🇸
Interesting though. Ha I’m going to give some to my dad for a Father’s Day gift. He’s a old school gold guy I can’t wait to the the look on his face like wtf is this i
Anyone thinking they're going to get any premium back on these is mainlining copium. It's accepted that you're already eating the 5-10% premium on bullion yourself on the sale, but you're going to be lucky to even see melt for this stuff. Literally wasting money on a collectors gimmick.
I bought Goldbacks and they served their function by preserving purchasing power during the unforeseen COVID lockdowns. It now takes 17% more USD to buy the same ounce of gold than it did last year. Bank savings are “high yielding” at 4%, meaning your investments need to make 13% just to break even if you were not holding gold, before considering the inflated costs of goods. Inflation is so bad they had to change how they calculate it to try and hide it from the public, in a country where more than 12% of Americans, over 40 million people, are on SNAP benefits because their daily labor is not valued enough to provide them with a minimum quantity of food. The return you get from holding gold is more than financial. It is peace of mind that your labor, which for some people is already horribly undervalued, can not be inflated away from you through bad government.
Great content as usual. I think goldbacks are cool looking but are solely a collective piece. Ive seen that thwy make wallets to store them in. But in my opinion they arent worth s**t just my opinion
I love Gold Back they are bad ass! BUT I'm not paying that much it stupid. 1/1000 for around $5 to $6 dollars is $5000 to $6000 an ounce? You do the math 🤪
Anything with huge builtin premiums are not good for stacking. And why would anyone buy these for short term bartering ? The premium eats up purchasing power for short term use. People love gimmicks I guess.
Dude, really? Research things a little more before you toss out the vids. You're gonna pass judgement while saying it has layers of "polyester" and works like a silver certificate? Neither of those are true. Also, it is not "one dollar" or a "one-dollar goldback", it is one Goldback. Goldbacks are not dollars or gallons or miles. They are simply Goldbacks which will be worth a fluctuating amount of dollars, or services, or products depending on how it's traded. The Goldback website discusses why they have a 25 GB denomination and not a 20, no need to speculate. As for durability, maybe you could watch a vid or two on that or note that they'll replace any damaged ones simply upon request. Try tearing one up if you think they're so fragile. Most of this vid will misinform people greatly a serious disservice to your viewers and stackers in general.
OK, so basically they are selling it at 2x of what gold is actually worth. Now, the last time gold was half the rate of what it is today was in 2011 - i.e. 15 years ago. Now, assuming the same growth rate for the sake of the argument, it would take you until about 2040 to break even from your current investment in Goldbacks. I do understand that gold is a hedge against fiat currency and market linked instruments but in 15 years , you would double your investment of $10,000 to $20,000 at a modest interest rate of even 4.5% . I don't think Goldbacks make a lot of sense as a strategy.
What is the difference between paying a premium over spot for a 1/20 oz coin, or buying 50 Goldbacks? One has more utility than the other, and one has never been counterfeited. They both rise and fall with the price of gold. With Goldbacks, you can also vault them with Alpine for more than 2% to be paid in Goldbacks. So, if gold jumps another 17% like it did this year, what profit did you actually make? I bet you would be much better off than someone with their 4% fiat savings account to be sure.
Bring the premium down 100% and the the goldbacks will be a reasonable idea. It’s really just a cool gift or novelty right now. It’ll take 10 years for you to get your money out
You are referring to them as one dollar, five dollars , etc. Wrong! They are goldbacks, not dollars. One goldback is worth approximately four dollars. At least get your terminology right if you're going to produce a video.
Watch the whole video and you’ll see that I mention it’s not worth $1 dollar and you go to the gold back site to see that it’s worth over $4. Thanks for watching
These are not dollars stop calling them dollars. these are Goldbacks in the denomination of 1, 5, 10, 25, and 50. Do not confuse dollars and Goldbacks, learn them and research them to be very familiar with them to understand their usage and valuel.
I am well aware of the denomination side of it. Just like an American silver eagle having $1 on it but it’s worth way more than a dollar. I also understand their purpose. Thanks for commenting
Here are some of the perks that I have notices/Used. I can transfer goldbacks like venmo. I can lease back my deposited goldbacks, and I do. I can spend them with a debit card. I can educate people about sound money. I can vote with my wallet by keeping more goldbacks than cash. Anyone can easily afford goldback. They're less than $5. They are safer that the dollar right now. IMO.
They are a cool collection item, but they have too little gold, they are not recognized by almost anyone I would accept Pokemon cards for payment before these
That is true when my dad was a kid when gold was £28 , he says 8 chocolate bars was 1p so 800 for £1, that's 22,400 chocolate bars for the price of 1oz of gold, how much are 22,400 chocolate bars today?
@@StatesideStash i got one of these notes does look fantastic snd a good proof of concept but not worth buying anymore have you seen a silverback it like 18dollars totally not worth it
I started buying Goldbacks when they were $3.29 for a one.
Each denomination has more gold than stated. They're value has steadily increased, and in time, I believe I'll profit.
You will! Just hold
If you were buying them at 3.29 and it’s only 1/1000th of an oz then that means you were paying 3,290 for an ounce of gold that could’ve just cost you 2000-2400 depending on the price of gold on the time you got RAPED!!! 😂😂😂😂
Goldbacks are the return to sound money
That’s the idea behind it. Only time will tell if it works
I agree. That's why I'm stacking them.
These are good to have I've been trading gold and silver for guns, food, and equipment. To me the goldback were the best thing cuz I did not have to overspend my gold or silver and when I do some change. I always have to get more items to make up for the gold and silver that I don't need. They always trust to go back because of the security system that's behind it
New Hampshire we used them for contractors, business, farmer market and so on and they get used across the NH state. I used and get paid for some electrical work I put them in sleeves. I buy stuff from farmers market
I have gold and silver coins but it fun to used them. 10,000 plus business used across NH.
I remember buying 1 oz gold coins $ 210 an oz and up and thought they would never hit a thousand dollar an oz still have all those coins to day.
I remember buying suitcases 1 suitcase contain 250 oz silver from at $5.00 an oz those days are gone work are a electrician helper as a teenager.
I’m glad gold backs are being put to use over there! Man I wish I could of bought gold for $210
A 5 Spot Goldback was a perfect addition to my Granddaughters Cigar Box. Just because I wanted one.
Nice little addition!
@@StatesideStash She loved it, put it with her Two Dollar Bill Stack.
As I see it, the major issue with Goldbacks is that purchasers have to pay for the costs of production, unlike fiat. But, as with premiums for gold and silver, if you hold on to them long enough, the increase in value will wipe out those early costs. I'm just not sure I want to experience the economic chaos that will make that happen. Apologies for the wall of text. Also, howdy from Wyoming!
Not at all I love hearing as much as I can from people! But i totally agree
@@StatesideStash In that case😂... in my opinion Goldbacks will be subject to deterioration/damage over time, unlike physical gold and silver. I prefer physical gold and silver coins. Gold and silver are literally portable real estate.
@@bhoward9378 exactly what I said, they seem very fragile.
Don't play with them. Leave em be till that day when you need them.
They retain the premiums though.
I had no idea. I think it's great that states are legalizing gold. Even if it's separate from Federal, its giving power back to the States. I can dig it.
We will see where it goes!
Ive spent Goldbacks in 9 states now. I'm testing them and having fun with sound money.
It really depends on why you're stacking gold. If you're stacking for weight, getting gold shot or large gold bars are good options. If you want gold that can be spent, goldbacks are absolutely the best choice in my opinion.
The premium isn't the main consideration for money. The spread and utility is. That's why we don't judge the USD based off of it's melt value, which is basically 0. We judge it by how many goods are services we can trade it for. it has utility, therefore it has value. (for now..)
Thank you for a detailed explanation instead of just getting upset with me like others did. I’ll take time to do more research on them
@@StatesideStash Absolutely! At the end of the day, it's your money you're spending and there's no one-size-fits-all solution for everyone.
@@Goldbacker00 well said! I always preach that you should buy what YOU want and not care what anyone else says. I just give my opinion on different things
shot is horrible only as you can't use any equipment to verify that is is actually gold.
Pretty to look at but I wouldn't stack them but I do grab a few here and there and I give them out when I go out to nice dinners and whatnot to the staff for a tip and whatnot.... kind of my way of passing along hey check out gold and silver😂
Something I don’t wanna flash around! Coll for novelty but that’s it for me
Can you melt them down into ingots?
I looked into that. The 1/1000 there’s no way and someone said silver seeker tried with some bigger ones and wasn’t successful so as far as I know it’s not
@@StatesideStash they are a Gimmick then. I'd stay away. I have 1/10 coins I got at a great premium and think they are a great addition to my stack.
Yes
@@StatesideStash see Mike Adams VerifyedGoldbacks on that.
Sreetips did successfully melt them to extract the gold. They contain slightly more gold than stated, because they never want a Goldback to fail an assay.
They are really cool, nice design. I bet paper dollar collectors will really like them as they have unique serial numbers on them.
If Goldbacks were in actual use, how long would they stand up to use? I can't see folding them to put in a wallet,, or stuffing inside your pocket.
I had the same thought but some people have commented saying they are very durable
Goldback was at a recent ATM convention, they were doing interviews an posted to their Instagram account of people trying to rip the note but no one was successful
If the get damaged goldback inc will replace them.
My personal opinion…I love these goldbacks. I understand how trying to get people to take them now, …most do not even know about them. But when there comes a time when a financial disaster hits, people won’t care what form the gold has. They’ll take it.
That’s the beauty of gold and silver that everyone can enjoy what they want to enjoy. If you like goldbacks then more power to you! Just not for me personally
Do they purchase a dollar amount or gold amount?
It’s based on the gold amount
I wonder what a heavily circulated one would look after a few years
I’ve tried finding pic or videos. I’ve heard conflicting things saying they held up great and some say they fall apart
I know I have a couple of goldbacks but confused on what to do with them and should I convert them into silver??
Personally I’d just hold onto them. If they are $1 one then the exchange isn’t worth the amount of silver you’ll receive so just keep them
Get a few more so you can tip them and spread the sound money news.
Ive sold many goldbacks for silver. So I keep getting more. It's a vicious circle.
I'm all in for goldbacks, when the dollar value crashes and the coins and bars will be needed, it's going to be difficult braking them down fractionally to barter with. But the goldback will already have an exchange rate on it i.e. 1Goldback = 4.89 as of this comment. So if you purchased an item(s) costing $8.00 you pay two Goldbacks with change coming to you. it is already being used in five states.
That’s why I have silver when I need to barter with small amounts
@@StatesideStashI have been carrying silver for 20+ years. People don't get it. Given a crisis and they'll figure it out but I can spend goldbacks now, not everywhere, it make sense to me.
There's a South Dakota as well .
It was between the one I bought and the SD one.
How on earth are you going to say vacuum layer deposition is like a silver certificate.
Not a huge similarity. Just saying they are both backed by something, silver certificates just have an extra step in exchanging
If you don’t hold it, you don’t own it. There is a difference between physical and a promissory note. That extra step is a real doozy in countries that have experienced economic collapse. I’ll leave it to the Cypriots, Lebanese, Venezuelans, and others to tell you how well that worked out for them when push came to shove.
If the premiums werent so disgusting high. I would think about collecting them.
They are stupid high. It’s a turn off
TRUTH!! but, on the other side of the coin, (and this is actually a complicated topic, but I'll try to sum it up) can you afford NOT to?
. I accept them for small purchases here in North Texas. I think they are perfect for the design of them
@@cjallen425 I can't blame you, I would too, it's constitutional money.
@@cjallen425 you know of businesses who would be interested? And would they only want the notes specific to the locality (TX people only interested in the TX goldbacks)
100% agreed! Seems like some of the premiums I've seen have reached collector levels.
Personally I’m gonna hold off till they drop
Id like to have 1 of each state and size but they definitely aren't for stacking. I only have 2 of them and do love them and the art. Id honestly like to make a classy looking wall frame with black and gold frill.
How expensive do those $50 one go for?
@@StatesideStash off the top of my head I'm not even sure. On a different note but related, I ended up trading my maintenance man on of my $1 Goldbacks for one of the original Silverbacks and it turned out to be an amazing trade for like $25 in value. I was offered $25 and I wouldn't take it. I figured the original will definitely go up in price over the years, especially since there was a set mintage on them (can't remember how many off the top of my head without having to pull it out). I'm not even a huge fan of Silver Dragons but I figured it's a great collectors piece to have.
@@AnxiousStacker collectors piece and investment. Someone will definitely pay for that one day
@@StatesideStash definitely right 🙂
@@StatesideStashhello, on 4/15/22 I paid $180.46 for a 50 Goldback. I took a peek at eBay, and a 50 Goldback is selling for $235.96 today.
I didn’t scroll the whole page. I just looked at the first three I came upon. I hope this helps you out. 👍👋
Yeah, I bought a few, a couple 1s of each state.. and one 5 that I liked the design of....I just like the design, and the concept, but the fact that it just feels like taking whatever dollars you have and cutting it in half for gold designs...I don't feel like they're very practical, not yet. I still like them, but, I like them more for being goldbacks, than gold, if that made sense.
The idea behind it is solid, I want our money to be worth something again but I can’t overlook how fragile they are. LOVE the designs though
@@StatesideStashSomeone had a video somewhere aroundabouts the tubes supposed to be about how a goldback kept up in their wallet after a year, and of course I didn't watch it (wasn't that helpful?) ... I'll have to look for it...but it kept up at least that long. I understand though... I can't bring myself to crease it. I used to be a trading card collector/trader, and it gets that feeling outta me. Heh, maybe this entire thing has been an elaborate ruse by whatever company makes the wallets to sell overstock cell phone cases. Sounds about like something that would happen nowadays.
@@StatesideStashI heard it's also supposed to go by some exchange rate that is separate from spot, something like 1 goldback = 4 something dollars...but, how many people at places that say they take these are actually going to know that? I have been a cashier here in the southeast and nearly gotten into fights with people over Susan B Anthony dollars, I dunno how goldbacks would go over.
@@GreatWhiteCat I know what you mean. I use to collect Pokemon cards so folding things kills me on the inside
@@GreatWhiteCat yeah apparently you have to go to their website to check the exchange rate
They're for spending, not stacking. So they solve the problem, nothing to break down, just use the bill. Goldback's will not erode with inflation, already better than fiat. I would always take a Goldback over the paper equivalent.
I’d obviously take a goldback over some fiat. But I’d rather buy gold coins over goldbacks
@@StatesideStash Yes, but you aint buying Goldbacks as an investment, they are for that middle ground when you need to purchase things.
I bought a 5 for fun. But for spending money, my favorite is the Sacagawea Dollar, So I stash a few hundred of them.
Yeah I bought this for fun for a video. Only one I’ll buy
@@StatesideStash Oh No! not you to.
Premiums is what early adopters have to swallow. Once they’re in circulation, gains are enormous!
I can see there’s money to me made. Just in any for me
lets here it ? explain these enormous gains ? any bullion can have enormous gain if bought low and the price goes up .. its all relative
They are not intended for collecting. They are intended to actually be used as currency with the premium included in the value. That's why people have a hard time understanding this. Collecting Goldbacks is like collecting currently used Federal Reserve Notes. The concept is still very early, but there may come a time when enough people understand the idea that it is better to be transacting in a currency that appreciates against the FRN. Think about the premiums on the FRN (taxes and inflation) likely far higher than 100% over the course of your lifetime.
Premiums are to high to even use cause you’ll lose money
@@StatesideStash Not true. I got some last summer at 3.80 and their value is almost 5$ right now. The people using them include premium so... you are wrong. Check your ego.
@@StatesideStash Also you can be like the people that didn't believe in Bitcoin. You will always have the benefit of transacting in it, but you will lose the benefit of appreciation of getting in early as people realize using FRNs is detrimental.
@@mastershepherd3777 🤣 no need to “check” my ego. If I buy a gold back at $5.50 and the gold back website for that day says they are worth $4.75 and I pay a $5 bill I lose .50.
If you like Gold backs that’s great I’m happy for you, it not for me or for a lot of people. I prefer gold and silver coins over high premium laminated gold dollars. We all have our preferences
@@StatesideStash Right well don't buy them like that? There are sites that sell them at or below cost?! I guess you are not interested enough to know this. That's fine but you need to understand your opinion comes from ignorance if that is what you believe. And cool I buy bullion also, but I appreciated the value of not needing to buy an expensive tester to carry around when I would like to use metal as currency. If you are watching the scene fake bars and coins are becoming more common now with appreciation.
These are great for shopping locally 👍🏻 Many businesses accept these, mine included 👍🏻
I’m learning more and more that these are accepted
You are correct. The spending power of 1,000 goldbacks is $4,880 today. That means you get more than you pay for them in spending power. But if you want to get gold coin/bullion for them, you can get 2 oz for 1,000 Goldbacks, which Ive done.
I love Goldbacks. Ive done over 122 transactions. Spending sound money is way better than selling for fiat. IMO.
Correction 1000 GB's is $4880 only in a state or place that accepts them .. if the spot price drops below your purchase price now what? you either spend and lose money or hold and stack until the price returns to the original purchasing price which defeats the whole purpose being touted as a daily spender ..
@preciousmetals7114 Luckily, I've not bought Goldbacks over $4 yet, so if they decrease in value, which they will as the market fluctuates, my spending is still positive.
Last week I found a LCS selling their Goldbacks at $4ea, so I bought all I could afford. Several were older so I ended up selling them for a profit above that. I was lucky, for sure.
Ive spent Goldbacks in 9 states now. So that's less of an issue IF you can find someone willing to take them.
So you’re saying people are paying 4880 for an ounce of gold when the ounce of gold going rate is 2650-2700? Where is the logic in that? Ya’ll smoking crackkkkk.
Your Chanel is cool brother. Big up your stax ladies and gents.
Hey Greg I appreciate that brother. Hope to hear more from you!
I don't hang out with any other stackers and don't go out of my way to ever try to talk about stacking with them or anyone else for that matter. I think it's cool that there's a community of people that are interested in precious metals and their roles as currencies and tangible assets. I don't use any social media platforms so having discussions with people who are interested about the reasons for the value of precious metals and the overall joy that comes with collecting them is a rare opportunity for me. I am going to subscribe to this channel for sure and try to be active in the exchange of information with you guys to hopefully help each other grow our stacks wisely
@@gregbeaudoin2443 if you don’t ever feel comfortable commenting on something then email me at statesidestash@gmail.com and we can talk there!
@@gregbeaudoin2443 Greg I just want you to know I responded to your email but it seems it was forwarded from someone else so let me know if you got it or not
@@StatesideStash yes I got it thanks for responding so quickly
I can see how they would be fun to collect, and it's gold, just thinner. I prefer coins though.
Oh I’m right there with you, definitely prefer coins
I'm not sold either, but I think you are missing the point.
First they are not a "One Dollar Goldback" The "1" is just a unit of measure.
The "premiums" people talk about is a myth.
The cost of a Goldback is the exchange rate.
You can buy one today, spend it tomorrow and be out nothing. I see them sell all the time for under the exchange rate.
The vendors have a app. They enter your total due and the goldbacks received and the app tells them the change due.
I'm not a fan either, but can see lots of upsides.
I dont know of any other Gold you can buy today, and spend tomorrow without a loss. The only way that happens is if Gold drops too.
Seems to me being its voluntary, you except them when the price is down and exchange them when the price is up. WIN... WIN...
If I was a business, I would except them.
There are banks now where you can deposit them and collect interest. There are also cash machines where you can buy or exchange them.
Bottom line is anyone who excepts Goldbacks would probably still except "real gold" (for lack of a better term)
I see what you’re saying. I understand the unit of measure also, like an ounce of gold having $50 it’s obviously not worth $50
100%. These this are dinomite. I've carried a full set for over a year and they are just fine. I bent one once and that was sad but I spent it and there was no issues.
something sounds off with the no premium myth ..alpine exchange goldback inc and valarium are for profit companies their not doing this for free i can guarantee you that... or their lying to us about the cost of manufacturing .. if their selling for under the exchange rate without the spot price changing someone is losing some serious money ..
@@danielbbq how do they hold up in a bifold or trifold wallet? not a huge 8"straight flat wallet.. who in the world would put that in their back pocket ?.. I've heard many comments coin shops won't accept or they give less for beat up bills because the polyester scratches easily.. it would seem very inconvenient to have to send them back paying shipping plus the waiting time both ways ..
@preciousmetals7114 I don't have a smaller wallet so we'll have to defer to someone who can answer. I have a larger wallet that I carry in my bag. I also keep a the Prepper's mini-stack. An amount in my vehicles, bags, packs, office, etc. Anywhere I might be and they might be of use. I know, I'm something else. We'll see over time how things turn out. I like them over fiat so I fry to use them as often as I can.
Me personally I would just keep buying 1/10 oz of gold each month. If you can't afford that you can buy the gram bars. There's lots of different price ranges for people to get into gold.
That’s what I do! Smart move
The premiums are ridiculous. Does Costco charge premium over spot?
I purchased quit a few when they were $3.96 per $1 gold back. The gold value was basically $2.04 per $1. Today they're worth roughly $2.37 in gold. The increase since is double the increase in gold. Makes it harder to reach break even point. Still I like the lower denominations. However a $50.00 gold back is in range of 2 1/2- 3 gram chunk of gold. They are fairly sturdy, video of one in a wallet for a year, held up pretty good. The company will replace them for free
Interesting. I’ve heard a bunch of compelling arguments about this. I might need to make another video
There are 5 states issuing them now and 5 more in the works. Im an early adopter and loving them. Time will tell how they catch on. Cheers for braving the goldback universe.
I do like Goldbacks, but just in small amounts. They are really cool with the art work. I would not try to stack these, way to expensive to do that.
Agreed the prices are ridiculous for large purposes. Those designs though are beautiful
I contend that there is no premium. It is the cost of the product. Is there a premium on pizza or a Porsche? Premium is a made up word for stackers. IMO. It's the cost of getting gold/silver. Now selling vs spending is a real issue worth working about. IMO.
its a cool concept, imagine if the USD was redone to the gold standard in this way? where ATMs dispensed goldbacks and you can use them at any business
The idea is brilliant it’s the durability of the goldback and having to monitor the conversion that worries me
I have one. It was free with purchase last year from Money Metals.
You can’t beat free gold!
I like Goldbacks personally. I buy a few here and there. Not going to back up the truck, but they are a very small part of my stack.
New subscriber, great content.
I believe in diversification. Not saying I fully agree with the hold backs but to buy one here and there and to have a stack set aside is 100% ok in my eyes. Thanks for watching!
why do you like them
I've seen videos were the goldbacks were run through the washing machine and they came out pristine. They are very durable.
Interesting! This is great to know cause that was one of my biggest concerns
@@StatesideStash Silver Seeker did videos on the gold backs. In the video he also tried to extract the gold from them but failed.
@@silverstormienormie6146 just too little of an amount to extract?
Just don’t put them in the dryer. 😂
@@noicue8078 haha 🤣
After yall get a grip on this cbdc and brics it will make more since. For me it's to big of a clue short of speak to not buy them. More states are adopting this method. Study brics, cbdc, quantum computer. After you understand the goldback and laws around goldback.
Some people say they like the designs. Something to collect, I suppose. Limited as currency.
I will say the designs are stunning. They got that right
And just as I thought, some LOVE them and some HATE them
I buy them because they are cool.
Nothing wrong with that! The designs are incredible
I buy gold bars / silver coins & goldbacks 🎉
Still lower premiums than copper bars!
Honestly I’d still probably buy goldbacks before copper bars
I’m in Nevada, I bought some last year and love them, but now that I have some I don’t really want to part with any😂. I just got some just to have them.
With that said, I wouldn’t buy them again especially with the premium, but again, I’m glad I got some. Great video, smart👍🏻👍🏻🇺🇸🇺🇸🇺🇸
Thanks brother! I will say the designs are stunning. This will most likely be my only one I buy
Still buying more.
Hey if that’s what you like then more power to ya man! Buy and stack what you like
The more I stack the more I look at the real treasure......junk silver. Only I don't buy heavily circulated coins....I like BU coinage and quarters, dimes, and half dollars. As for gold....I like buffalos.
Gold buffalos are the way to go and I love stacking junk silver! Smart choices!
Hey you guys, every time you call 90% “junk silver”, an angel loses its wings! 😢
@@noicue8078 I think it’s a proud term. Everyone loves the stuff!
yes it's ironic@@noicue8078
I purchased at $3.80 per GB and they are now up to $4.79. It is not a good way to accumulate gold (just like buying in all grams or tenth ounces) but to have some in your assets will not be a bad idea. Make sure you buy the lowest price and on a dip. You should hold them for a long time and only sell to people you know if you can make a good profit. Many would be willing to pay you $5 or $6 for a single gold back. Don't invest too much in these though. Buy whole ounce coins or bars.
This is going to be my only one. Gold and silver coins are my stack and it will remain that way
Ive found that Goldbacks are a gateway for many to gold. So if they only do that they are worth it. We need more people holding sound money.
The bottom line is...... When I bought 100 of them 4 months ago they were $3.80 per back, now they're worth $5.20. do the math
Gold and silver was cheaper 4 months ago too. You can make money on anything if you wait long enough, that’s not my issue.
Bottom line is you got raped. You bought 100 of them at 3.80 (380.00) for what 100/1000th (1/10th) of an ounce When you could have just bought a 1/10th oz gold coin for 250.00. And now you say they are 5.20 for 1/1000th of an ounce that means you are literally paying 5,200 for an ounce of gold that is melt at 2700.00 LOL. How does it feel to get raped that bad?
Goldbacks are not dollar denominations - you keep saying $1, $5, $10, $25 and $50 - they are just 1, 5, 10, 25, and 50 based on 1000th of an ounce of gold.
I’m well aware.
8:13 "Look how I can treat my worthless paper that I carry every day that's the same size as this tangible gold that's too large and worthless for me to care about"
Good luck buying groceries with 1oz. Gold coins when the economy tanks buddy.
Also, you can have $4,880 and no gold, or an ounce of gold and $1000 GB. There was a time when gold was $200/oz. Stop being so short sighted.
Good luck to you as well! Thanks for watching and commenting!
Stacking Silver and gold backs
Eh
I like em to an extent...i have a few, but they seem to me they are more of a novelty item, what i dont like about em, if you put em in your wallet and they get a crease, it damages it like, decreasing its value ... Also, i cant spend them here in Michigan, i can maybe get my money back if i sell them on eBay...gl!
Those were my concerns as well
From what I understand if they get damaged, you can send them back to Goldback and they will send you new ones.
@@noicue8078 that’s good information!
sell it back to the manufacturer or send it back for a replacement (brand new one)
Ive sold hundreds in my travels. People like them when they see them.
During covid a one Goldback was selling for $50 all day long on ebay.
Goldbacks are to be used as money you can spend them without paying capital gains article 1 section 10.8 of the Constitution says only gold and silver will be used to pay debt. If you spend that quarter ounce gold coin it's only $5 . It's a currency
If it’s a currency and we are going by the denomination the gold back is worth $1
@@StatesideStash the dollar was based off of an ounce of silver ..the gold back is based off of 1/1000 of an ounce of gold. . is 1 yen worth $1 no . There is no dollar face value on a gold back unlike gold coins which have a face value in dollars . Currencies have an exchange rate they are not all =
@@StatesideStash there is another currency in America The Berkshire dollar it has its own exchange rates . ECT
Cool designs but I’ll stick with my gold and silver bullion.
Same here
I’m right there with you brother, I am not a fan of the gold backs, the smallest amount of gold I will purchase is a 1/10th oz gold coin- keep stacking! 💯💪🏼😎🦅🇺🇸
I’ll purchase gram or half grain gold before I purchase another goldback
@@StatesideStash True, I do have some of the grams I got awhile back before gold went up
Interesting though. Ha I’m going to give some to my dad for a Father’s Day gift. He’s a old school gold guy I can’t wait to the the look on his face like wtf is this i
These are super cool gifts!
Anyone thinking they're going to get any premium back on these is mainlining copium. It's accepted that you're already eating the 5-10% premium on bullion yourself on the sale, but you're going to be lucky to even see melt for this stuff. Literally wasting money on a collectors gimmick.
To me that’s all it is and that’s why I’ll only buy one
I bought Goldbacks and they served their function by preserving purchasing power during the unforeseen COVID lockdowns. It now takes 17% more USD to buy the same ounce of gold than it did last year. Bank savings are “high yielding” at 4%, meaning your investments need to make 13% just to break even if you were not holding gold, before considering the inflated costs of goods. Inflation is so bad they had to change how they calculate it to try and hide it from the public, in a country where more than 12% of Americans, over 40 million people, are on SNAP benefits because their daily labor is not valued enough to provide them with a minimum quantity of food. The return you get from holding gold is more than financial. It is peace of mind that your labor, which for some people is already horribly undervalued, can not be inflated away from you through bad government.
Great content as usual. I think goldbacks are cool looking but are solely a collective piece. Ive seen that thwy make wallets to store them in. But in my opinion they arent worth s**t just my opinion
I’m on the same page as you. Things might change but for now it’s premium is too high and fragile
They are beautiful artwork but not for me except as that.
Right there with ya man!
I love Gold Back they are bad ass! BUT I'm not paying that much it stupid.
1/1000 for around $5 to $6 dollars is $5000 to $6000 an ounce?
You do the math 🤪
One thing I will say is that they are beautiful
1/1000th 😂 theyre pretty but not for me. I suppose it depends on why you stack. I see the barter value
It doesn’t have a place in my stack. If bartering needs to be done I have silver
@@StatesideStash exactly
Anything with huge builtin premiums are not good for stacking. And why would anyone buy these for short term bartering ? The premium eats up purchasing power for short term use. People love gimmicks I guess.
Dude, really? Research things a little more before you toss out the vids. You're gonna pass judgement while saying it has layers of "polyester" and works like a silver certificate? Neither of those are true. Also, it is not "one dollar" or a "one-dollar goldback", it is one Goldback. Goldbacks are not dollars or gallons or miles. They are simply Goldbacks which will be worth a fluctuating amount of dollars, or services, or products depending on how it's traded. The Goldback website discusses why they have a 25 GB denomination and not a 20, no need to speculate. As for durability, maybe you could watch a vid or two on that or note that they'll replace any damaged ones simply upon request. Try tearing one up if you think they're so fragile. Most of this vid will misinform people greatly a serious disservice to your viewers and stackers in general.
OK, so basically they are selling it at 2x of what gold is actually worth. Now, the last time gold was half the rate of what it is today was in 2011 - i.e. 15 years ago. Now, assuming the same growth rate for the sake of the argument, it would take you until about 2040 to break even from your current investment in Goldbacks. I do understand that gold is a hedge against fiat currency and market linked instruments but in 15 years , you would double your investment of $10,000 to $20,000 at a modest interest rate of even 4.5% . I don't think Goldbacks make a lot of sense as a strategy.
It’s a double edge sword
What is the difference between paying a premium over spot for a 1/20 oz coin, or buying 50 Goldbacks? One has more utility than the other, and one has never been counterfeited. They both rise and fall with the price of gold. With Goldbacks, you can also vault them with Alpine for more than 2% to be paid in Goldbacks. So, if gold jumps another 17% like it did this year, what profit did you actually make? I bet you would be much better off than someone with their 4% fiat savings account to be sure.
Bring the premium down 100% and the the goldbacks will be a reasonable idea. It’s really just a cool gift or novelty right now. It’ll take 10 years for you to get your money out
Premiums drop 100% and it’s gonna be the only thing I buy 🤣
You just can't verify the gold content. Stick to items you can test. 1/10 th and 1 gram bars are better
Actually from what I’ve looked up you can use sigma machines to verify that it’s gold
@@StatesideStash First I have heard of that. I would like to see the test on a video
@@BillGuyHawaii T the stacker did a video where he meets a guy at a coin show and goes over it with him
I got 3 1$ for around 10 canadian each....I like them even if they have no gold
The idea behind it has promise and the designes are incredible but that’s about it for me
See VerifyedGoldbacks by Mike Adams. He did some work on them.
You are referring to them as one dollar, five dollars , etc. Wrong! They are goldbacks, not dollars. One goldback is worth approximately four dollars. At least get your terminology right if you're going to produce a video.
Watch the whole video and you’ll see that I mention it’s not worth $1 dollar and you go to the gold back site to see that it’s worth over $4. Thanks for watching
These are not dollars stop calling them dollars. these are Goldbacks in the denomination of 1, 5, 10, 25, and 50. Do not confuse dollars and Goldbacks, learn them and research them to be very familiar with them to understand their usage and valuel.
I am well aware of the denomination side of it. Just like an American silver eagle having $1 on it but it’s worth way more than a dollar. I also understand their purpose. Thanks for commenting
Nope.
I’m not a fan just yet, maybe if there were more perks especially for more states
Interesting to see what things will look like in 5 years
Here are some of the perks that I have notices/Used.
I can transfer goldbacks like venmo.
I can lease back my deposited goldbacks, and I do.
I can spend them with a debit card.
I can educate people about sound money.
I can vote with my wallet by keeping more goldbacks than cash.
Anyone can easily afford goldback. They're less than $5.
They are safer that the dollar right now. IMO.
nothing more than a novelty item.
100%
They are a cool collection item, but they have too little gold, they are not recognized by almost anyone I would accept Pokemon cards for payment before these
I’ll take a 1st edition shadowless Charizard psa10 any day of the week
4.88 of worthless dollars
at a time where this would be the currency that 4.88 will probably buy what 1,000dollars buys today
👍🏼
That is true when my dad was a kid when gold was £28 , he says 8 chocolate bars was 1p so 800 for £1, that's 22,400 chocolate bars for the price of 1oz of gold,
how much are 22,400 chocolate bars today?
@@doubleooh7337 everything goes up with time
@@StatesideStash except gold and silver right?
@@StatesideStash i got one of these notes does look fantastic snd a good proof of concept but not worth buying anymore have you seen a silverback it like 18dollars totally not worth it
Not a fan, not worth the money.
Agreed
Not worth investigating in them at all
Agreed. I’d rather buy gram pieces of gold
How would you suggest making small purchases? The Goldbacks are not for stacking, they are meant to be used within your community to spend.
Overpriced shinny barter dollars. I’d rather drink Goldschlager and pee more gold. At least the buzz would be fun :)
Hahaha
Such pretty junk
Haha that’s one way to put it
@@StatesideStash it's really pretty. I wish it was logical to purchase