Goldbacks

Probably better than the average savings account
I know for the last what 30 years it's been stagnant or Zero interest.
And Wells Fargo Bank wonders why people don't want to keep the required $1500 in their account
At least WF finally got that lowered to $500 and I moved the $1000 to an actual credit union that is paying 0.24%

 

Log in or Sign up to hide this ad.

On the bottom of the Goldback notes it reads payable in US gold coin.
A 1/2000 of an ounce US gold coin would actually be a sight

 

When banks put minimums into effect it's usually to cover the costs of the account. Trust me, they don't make any money on an account totalling $500 or $1,500. The lower figure is more acceptable today with interest rates higher.

When I worked for 2 private banks it cost us about $3,000 in labor and back office and reporting costs to maintain the account. So it really didn't pay for us to accept accounts under $500,000 unless it was to please a large client's kids or something like that.

 

In the past, the Alpha Goldbucks have commanded a premium. Especially with the 1st three states that came out with them. I suspect this time, they may have made more.

 

Goldback are hard to photograph to show just how pretty they are. I've thought about framing a few.

 

I'll take the 50 Goldbacks.
Besides being worth $308 right now, it's an Alpha series and collectible.

 

You have chosen ... wisely.