Goldbacks

How do Goldbacks differ from gold bars?

Goldbacks are unique in that they are designed to be used as an alternative form of currency, unlike gold bars which are primarily investment vehicles. Goldbacks are thin and designed for easy portability and use in transactions, featuring intricate artwork and secure features for authenticity.

Can I redeem Goldback products for physical gold?

Goldbacks themselves are physical gold, albeit in very small, spendable increments. However, they are not typically redeemed for larger gold bars or coins; instead, they circulate as a form of voluntary currency backed by their gold content.

Are Goldbacks legal tender?

Goldbacks are not legal tender in the sense that they are not mandated by a government for all debts, public and private. However, they can be used as a form of voluntary currency where accepted, based on the intrinsic value of the gold they contain.

Can I use Goldbacks for everyday purchases?

While not officially recognized as legal tender, Goldbacks can be used for everyday purchases wherever merchants accept them. Their use depends largely on individual businesses and the acceptance of Goldbacks as a valid form of payment.

Are Goldbacks a good investment?

Goldbacks offer a novel way to invest in gold, particularly appealing for those looking to hold small amounts of the metal in a functional form. They provide a hedge against inflation and currency devaluation, similar to other gold products, but are particularly useful for small, direct transactions.