Goldbacks Discussion: Spendable gold for the people

agnostic · Postby **agnostic** » Fri Jul 31, 2020

Paging Douglina...oh Douglina are you in the house? Texas goldbacks just waiting
for their time to shine.

Turtle · Postby **Turtle** » Thu Sep 10, 2020

Should goldbacks be listed in numismatic? Ive been putting them in the main gold thread, but I just noticed it says 2x spot should go in numismatic. It seems like a special case however, but I guess its not really bullion.

Tractor Man · Postby **Tractor Man** » Fri Sep 11, 2020

Came across this from Silver Dragons on YouTube.

Postby **DRP270** » Fri Sep 11, 2020

Turtle wrote:Should goldbacks be listed in numismatic? Ive been putting them in the main gold thread, but I just noticed it says 2x spot should go in numismatic. It seems like a special case however, but I guess its not really bullion.

Interesting question. Maybe Paper Notes & Other Currency????

viewtopic.php?f=102&t=6663

agnostic · Postby **agnostic** » Fri Sep 11, 2020

DRP270 wrote:
Turtle wrote:Should goldbacks be listed in numismatic? Ive been putting them in the main gold thread, but I just noticed it says 2x spot should go in numismatic. It seems like a special case however, but I guess its not really bullion.

Interesting question. Maybe Paper Notes & Other Currency????

viewtopic.php?f=102&t=6663

Goldbacks aren’t currency. They aren’t paper either. They are physical gold notes.

shinnosuke · Postby **shinnosuke** » Fri Sep 11, 2020

Goldbacks are more bullion than not.

Turtle · Postby **Turtle** » Sat Sep 12, 2020

agnostic wrote:
DRP270 wrote:
Turtle wrote:Should goldbacks be listed in numismatic? Ive been putting them in the main gold thread, but I just noticed it says 2x spot should go in numismatic. It seems like a special case however, but I guess its not really bullion.

Interesting question. Maybe Paper Notes & Other Currency????

viewtopic.php?f=102&t=6663

Goldbacks aren’t currency. They aren’t paper either. They are physical gold notes.

How are they not currency? Not to mention they are legal tender in Utah.

Turtle · Postby **Turtle** » Thu Apr 15, 2021

Should goldbacks be sold in Gold BST or Numismatic?

agnostic · Postby **agnostic** » Thu Apr 15, 2021

post them where they get the most exposure, and then beg for forgiveness if its not right.

Postby **fredzoyt** » Thu Apr 15, 2021

agnostic wrote:post them where they get the most exposure, and then beg for forgiveness if its not right.

shinnosuke · Postby **shinnosuke** » Thu Apr 15, 2021

I approve this message

Recluse · Postby **Recluse** » Thu Apr 15, 2021

Do they sell for more than 2X spot?

Postby **MaxGravy** » Thu Apr 15, 2021

Recluse wrote:Do they sell for more than 2X spot?

Almost.

They currently sell for $3.74
https://goldback.com

They're 1/1000oz of gold so current melt value is $1.76.

bigjohn · Postby **bigjohn** » Thu Apr 15, 2021

I thought we had a hookup...

Turtle · Postby **Turtle** » Sat Apr 17, 2021

MaxGravy wrote:
Recluse wrote:Do they sell for more than 2X spot?

Almost.

They currently sell for $3.74
https://goldback.com

They're 1/1000oz of gold so current melt value is $1.76.

Depends on where you go. APMEX sells em for over 5 and ebay is even higher

Postby **MaxGravy** » Sat Apr 17, 2021

Turtle wrote:
MaxGravy wrote:
Recluse wrote:Do they sell for more than 2X spot?

Almost.

They currently sell for $3.74
https://goldback.com

They're 1/1000oz of gold so current melt value is $1.76.

Depends on where you go. APMEX sells em for over 5 and ebay is even higher

$3.63 at JMB:
https://www.jmbullion.com/gold/gold-notes/

$3.71 each or $344 for 100:
https://finestknown.com/product-categor ... goldbacks/

iratebob · Postby **iratebob** » Sat Apr 17, 2021

bigjohn wrote:I thought we had a hookup...

Shinnosuke is my dealer

Turtle · Postby **Turtle** » Sat Apr 17, 2021

MaxGravy wrote:
Turtle wrote:
MaxGravy wrote:
Recluse wrote:Do they sell for more than 2X spot?

Almost.

They currently sell for $3.74
https://goldback.com

They're 1/1000oz of gold so current melt value is $1.76.

Depends on where you go. APMEX sells em for over 5 and ebay is even higher

$3.63 at JMB:
https://www.jmbullion.com/gold/gold-notes/

$3.71 each or $344 for 100:
https://finestknown.com/product-categor ... goldbacks/

Interesting! I guess I am overpriced then. I only checked a few places.

shinnosuke · Postby **shinnosuke** » Sat Apr 24, 2021

The price of Goldbacks is based on both the spot price of the amount of gold in them as well as on the cost of production. Convenience has a cost.

Turtle · Postby **Turtle** » Sun Jul 03, 2022

shinnosuke wrote:The price of Goldbacks is based on both the spot price of the amount of gold in them as well as on the cost of production. Convenience has a cost.

A goldback rep I was talking with last week made a good point that you cant think about it as the melt price, just like you dont think of a car as its scrap price. The scrap for a car might be $500, but put together and working, its $20,000! Same with goldbacks. Its utility has a premium