I have to admit that I’ve never heard of these until my brother sent me three of them for my birthday, which was in May. Somebody somewhere must’ve thought of a new way to make money, but it’s nice to have these. They are actually 24 karat gold and in the first picture he sent me two of those. That means I only need 1998 more of them and I will have one full ounce of gold. The second photo I only need 499 more to have 1 ounce of gold. On both of the backs are blank, but you can see the reverse print from the front of the note. Somebody’s making money on these.
I HAVE 6 Of them I believe 2 Dallas Fort worth ,Idaho and another out west couple. I mean like $8.00 a piece and A dollar bill or half dollar I have heard some stores in Texas take them but I dont know what a dollar will buy you.
I have multiples of each denomination 20 and under from all the states issued, as well as a few other countries, and the new TX depository issue. Just a fun sub-collection.
I Like them, but they just dont have enough GOLD in them to make for a practical invesment, but the design.s are out of sight
They state on the note “This Goldback contains 1/2000th Troy Ounce 24K Gold” or 1/500th or whatever the denomination is.
Not great as bullion with a high premium over gold coins or bars. They’re starting to grow a collectible market. Even @paddyman98 has some. When he finds one in the dirt, they’ve finally arrived
Goldbacks are fun and I personally don't take them quite seriously. They're mostly a novelty item although in several locations in the US, they're actually legal tender. They're slowly being recognized which is interesting to me. Their premiums are insane so it isn't worth it in my opinion.
I do not collect them as bullion investment. A 50% premium over spot (100% markup) is not an investment. I like the novelty of them, and their nice designs. They are fun. I even have a couple of the Silver Dragon Silverback notes…
