GoldBacks ... What's that ? Where to find them ?
GoldBacks ??? What are they ?
Greetings,
There is something I had never heard about, before coming to the SilverGolsStackers community : Goldbacks.
So I went to have some more information about it, it's a currency, backed by gold, the goal is to counter the inflation of the existing currencies.
They print notes, and integrate a quantity of gold that will give the value to the note.
There is a number printed on the note, corresponding to its gold weight.
The increment is by 1/1000th of a troy ounce of 24 Karat gold.
So, on the image shown here, we got a Goldback of 45, which has 45/1000th of a troy ounce of 24 Karat gold.
The value, at this time, is about 5.61 USD for 1 GoldBack, noted 1GB, like shown here under, where I calculated my account value in GB:
Source: https://www.goldback.com/calculator
Why not in Belgium or worldwide ?
They have several series, depending on the states they are used, they consider those GoldBacks as local currency.
My questions, yes I always have questions ...
- Are they legit in the whole country ?
- And can we find GoldBack notes in other countries?
- Do they keep their value anywhere ?
Normally, they should keep their value as the gold remains in them, no matter where you hold them.
I suppose they made local currencies so they can count as money instead of gold investments, with some "insurance" for merchants accepting those notes?
Should I get some?
I have absolutely no idea where to find them except from friends of SGS, if you have addresses in Europe, it would save me a lot of sending costs :)
Have a nice day, and "Cyall Soon" :)
Note: Still trying to recover from leg surgery. It's darn long ...
| O.J. | Towards Financial Freedom! |
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 | @independance is my path to financial freedom, via precious metal stacking. I try to achieve this to bring a heritage for my family. I'll post about my progress as well as anecdotes. |
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To me, they're not a Currency... You'd be much better off, looking into Common U.S. Coinage... Common U.S. Coinage, will get you in on the "Ground Floor" of Electronic Coinage... Electronic Coinage will be 100% backed by what I've been calling our New Product Line of "Circulating" Gold Coins... It's all part of what I personally see heading our way... I could be wrong, but I doubt it...
Do you mean electronically circulating ?
Answer depends if I understood you or not :) :
(If not, probably barrier language, I do not get what you mean if it's the case.)
(If yes, speaking about gold, I prefer physically than electronically).
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I don't consider the Gold Backs to be a Currency... I would say they're more of a Work of Art, using a Set amount of Gold... They are Collector items for sure, and may very well increase in Value... U.S. Electronic Coinage, as per my "Fine Tuned" version of the coming Monetary Correction, will be 100% backed by "U.S. Gold Coins"... One ounce of Gold will get me $90 in U.S. Electronic Coinage or $90 in U.S. Gold Coins... They will be in Perfect Balance with each other... One will get you an equal "Face Value" amount of the other...
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I'd imagine there would be some coordinated effort to have these made for each participating country. Each with it's similar size and distinct design but as long as they go by the same 1 GB per 1,000th Tray oz. these could be tradable or exchangeable for goods and services anywhere GBs are accepted.
I think that would be nice, and would remind us of times where gold was linked to money.
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I have bartered using silver as my money, bartering transactions in Canada are tax free, that is NO VAT since it is deemed a trade not involving currency.
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I would say it's neat for collecting having some is nice and the concept is cool but not really smart stacking as in most the time it's not a good idea to have a hole bunch of them. !DOOK !BBH
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Noted, thank you for your opinion :)
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