Goldbacks Discussion: Spendable gold for the people

[shinnosuke]

Yes, you’re right.

I haven’t looked into Quintric yet.

[agnostic]

If you don’t hold it, you don’t own it.

[InfleXion]

The wife got more excited about a goldback sitting on the counter than she ever did about silver. Makes for a good conversation piece, given a trustworthy earshot.

[shinnosuke]

◆ Gold has risen to new all time record highs in euros at €1,437/oz today due to safe haven demand due to concerns about the Euro zone and the global economy

◆ Gold is consolidating near all time record highs in sterling at £1,210/oz and at seven year highs in dollars at $1,590/oz

Here in the US, with gold crossing another $10 milepost, Goldbacks are up another penny to $2.84. (Goldback, Inc. sets the price every weekday between 10-11am, Utah time.)

Chinese New Year is upon us, but so is Coronavirus so gold sales may be muted there. On the other hand, safe haven purchases are up on all the tension and bad news.

[grantwoodisgold]

[agnostic]

Not a rousing endorsement. However it could be the start of something big.
I did notice one of the goldback notes had big ole fat crease right in the
middle of it. I still haven’t received a good answer to “ what do you do with
a mutilated goldback?”.

[shinnosuke]

Many of the Goldback videos on YouTube lack a certain...shall we say...professionalism? The Sound Money guys aren't in the business of making commercials. They're trying to change a deeply rooted habit of reliance on fiat. It will take a while for the marketing to catch up with the idea.

[grantwoodisgold]

well, I posted the vid b/c i thought it was a positive vid.
transaction made
all is well

[shinnosuke]

The idea of tiny amounts of gold as a way to secure one's wealth is spreading. Behold "the world's smallest gold coin!"

https://coinweek.com/world-coins/swiss- ... gold-coin/

"Swiss Mint Issues World’s Smallest Gold Coin Showing Albert Einstein

January 24, 2020

By The Federal Mint Swissmint

The Smallest Gold Coin in the World

swiss_mint_smallest_gold.jpg

With determination, patience, and ingenuity, Albert Einstein established his enduring fame in 1905 with the formula “E = mc2“, revolutionizing the world of physics. Swissmint has now tried to revolutionize the world of coins with the striking of the “smallest gold coin in the world”.

The unique result? A machine-minted gold coin with a diameter of 2.96 millimeters and a weight of only 0.063 grams (1/500 ounce). The smallest gold coin shows the famous picture of Albert Einstein sticking his tongue out, supplemented with the year 2020. On the other side is the nominal value of a ¼ Franc, together with “Helvetia” and the Swiss cross." (close quote)

The video is 1.5 minutes long and shows how fancy the package is.


Goldbacks come in 24k gold in 1/1000, 1/200, 1/100, 1/40 & 1/20 of a troy ounce. Goldbacks don't ship in any fancy (and expensive) packaging although wallets are now available so you can carry them around without folding them in your wallet.

Goldback Wallet.jpg

[BotanicusRex]

"Swissmint said the coin, of which just 999 have been made, will be sold for 199 francs [approx. US$ 200] with a special magnifying glass so owners can see the famous physicist on its face."

The RCM has a new challenger for the World Mint Making the Most Ridiculous Sovereign Coin.
And the US Mint has now been completely dethroned as a mint having the Worst Intrinsic Value per Cost Spread.

[agnostic]

"Swissmint said the coin, of which just 999 have been made, will be sold for 199 francs [approx. US$ 200] with a special magnifying glass so owners can see the famous physicist on its face."

The RCM has a new challenger for the World Mint Making the Most Ridiculous Sovereign Coin.
And the US Mint has now been completely dethroned as a mint having the Worst Intrinsic Value per Cost Spread.

For some it’s not all about money

[shinnosuke]

With gold prices up, it is difficult for me to maintain my low prices for BullionStacker members. (Selling for somewhat higher on FeeBay.)

www.goldback.com pegs the price at $2.94 per Goldback today. As a reminder, the Goldback price changes 1 cent for each $10 movement in the price of gold.

[shinnosuke]

I now have Goldbacks wallets in stock.

Stylish Goldback Wallet.jpg

Stylish with Goldbacks.jpg

Pricing at the link below.
viewtopic.php?f=98&t=32857#p642456

[shinnosuke]

I am temporarily suspending Goldbacks sales due to the ZIRP announcement.

[coppernickel]

Working at my desk I noticed and then really looked at the GoldBack there.

Yes, it is a tiny amount but it reminds me of:

bodyarmor-r-u-ready.jpg

,

[Mercuryman]

Does anyone know where I can acquire some of these for a fair price? These are beautiful bills!

[smackvay]

I am temporarily suspending Goldbacks sales due to the ZIRP announcement.

What is the Zirp announcement?

[grantwoodisgold]

Zero
Interest
Rate
Policy

possibly followed by the scarier NIRP

Negative
Interest
Rate
Policy

[shinnosuke]

I am temporarily suspending Goldbacks sales due to the ZIRP announcement.

What is the Zirp announcement?

Yeah, the suspension of Goldbacks sales was temporary because the Feds were messing around with the interest rate and I wanted to see what would happen to gold prices. Then came Covid. Then came the riots. What's next?

Y'all stay safe out there and buy an extra can of beans every time you go shopping.

[Turtle]

Demand is heavily exceeding supply, so Valaurum is cutting all their other products and building a new production facility. Nevada and New Hampshire goldbacks are expected later this year.

https://goldback.com/news/out-of-stock- ... -scaled-up

I still have some for sale btw