Goldbacks

I like them, and think they make sense. Watching the fiat money devalue is demoralizing, and the government entertaining ideas of CBDCs has me thinking they will become popular. If nothing else, they sure are purdy.
You could epoxy into a countertop and have a really nice conversation starter.

 

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I won’t argue with you there the scenes on
the notes are just amazing, however from
an investment stand point the small amount
of GOLD that is used really doesn’t add up
to a whole lot.

 

Yes, very little gold. If a person just looks at melt value, no, way overpriced. However, they are pretty, and people are willing to take them in trade for goods and services. And, they seem to be holding their value better than our fiat dollar. They are also one of the smallest fractional gold items that can be used in trade. If we really wanted a better investment value, we would buy gold by the pound.

 

I've got several of them and think they are well made and a great idea. If the premiums came down a bit, I'm sure they would be more popular.

 

I just was in my LCS today and was really tempted to check in to them further, unfortunately I was in a hurry but when
I go back for another GOLD purchase will
for sure check them out

 

It might be easier for you to start by looking up some Youtube videos on them, and checking some of the sellers. A list and calculator can be found at Goldback.com

 

I’ll do exactly that

 

Just go to Goldback.com. Tells you everything 'technical' you may want to know. Plus, it has the current 'rate' of percieved value for spending purposes. (They are legal currency in the states that have them). So, currently, a one goldback bill 'trades' at just over $4, so a little over 2x the $1.95 of gold in it. So, yeah, not the greatest way of buying/investing. That said, most people A. have no idea what they are, and B. apparently struggle with simple math, because I've accumulated quite the pile (some singles, mostly higher denominations) simply using my "spot in pocket" methodology in online auctions. Weird how the singles get bid up to 8-10 bucks, yet can scoop up a tenner for under $20. Same thing with those Aurum Liberty bills. They have 100mg of gold ($6.40 spot). They 'sell' for $20, but I've won them regularily at $5. Granted, they were printed as a novelty/advertising (and are cool looking) but they gave away I don't know how many 1 Silverbacks (1/1000 oz of silver, so $.02), with the dragon motif, yet I see reputable coin places selling them for $20.

 

I checked in to this further, first I have to
say the artwork is amazing !! one of the reasons I got in to MPC ( Military payment certificates ) but those were limited production especially the graded ones I
collect with populations as low as 1 !! the
value I have on several are 10K plus !!
I have been collecting those for over 25
years so I only have the best stuff

But with Goldbacks you have basically
unlimited production so there’s no real
rarity, so if your looking at this in that way
not really something you can get your money back, and if your looking at this
from a investment point of you, they just
don’t contain enough GOLD to amount
to anything, now if they made one that
contained let’s say 1/10 OZ , then maybe
they would be a good buy, but the best I
can do is look as a cool novelty.

 

Sure, I get that. To me, it satisfies my consumerism urges without 'consuming'. If I can buy at $20 and get a guaranteed $40 on the flip, I will do that all day. The problem with hunting/bidding 1 oz coins is you will almost never get one at spot. I have won exactly "one" that way in 6 years of poking around. Similar to ASEs, I don't even bother bidding on them because you simply don't win any. Morgans and Peace dollars are that way too, no matter how beat up.

 

Check out what some of the older ones cost now.
And, there are the Alpha notes which bring more too.

 

What I’ve learned over the past 25 years
that something is only worth what someone is willing to pay for it, bullion
in the other hand has a set value.

 

I actually have many $20 liberties, Saints,
1 OZ AGE,S and Buffalos, don’t do the flip
thing, I buy a coupe once’s a month of all
the above for me it’s more long term so
price really isn’t a concern for me as it
all comes clean in the wash…LOL

 

You are correct. In fact, anything, including bullion, is sold due to perceived value. If it's not worth it to them, or they just don't want it, or can afford it, it's not worth a thing. Some items such as bullion, oil, arms, etc will always have value to someone.

 

I don't actually "flip" anything, I keep it all. More the mental aspect of getting a value price. Most people accept paying premiums as part of life, I simply do not. I don't even keep track of what I win/buy; it just gets piled up in the basement at this point. Since all of it was acquired at bullion spot price at the time, as long as things creep up, even incrementally, I'm ahead in the game. And that isn't even counting the possible numismatic value of lots of it. For example, a couple years back I won a complete book of Franklin Halves at just over $7/coin. Other than a cursory check to see if the coins matched the holders, haven't given it a second thought. Some day when I'm retired I'll have to start organizing and see what I have.

 

They are annual series (dated by year). So they are limited production per year. Whether that translates to numismatic premiums or not I have no idea. I've got a bunch of 2019 dated Utah Goldbacks. I never looked to see what they were commanding on eBay or similar.

 

From one of the Goldback dealers:
*2019* 1 Utah Goldback $31.11
*2019* 10 Utah Goldback $212.61
*2019* 25 Utah Goldback $531.59
*2019* Utah Goldback Set (1,5,10,25,50) $1,931.20

Of course, it's whatever someone will pay.

 

Wow! That's significantly more than what I paid when I bought them.

 

The Alpha notes from each state release command a higher premium too.

 

Dumb question amnesty: What is an alpha note?