Frequently Asked Questions

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Goldbacks were first introduced to the world in 2019 by a Utah company, Goldbacks, Inc. Currently available for purchase in four states, Goldbacks contain fractional amounts of 24 karat gold making them some of the first voluntary, spendable gold currency capable of being used in small transactions. With unique artwork depicting the sponsoring state’s history, Goldbacks are also an economical option for both investors and collectors.

In addition to an intricate design, the denomination name, and the issuing state’s name, each Goldback is imprinted with the precise gold consistency. Every Goldback series includes the same five denominations and each denomination consists of an exact quantity of .999 fine gold.

  • 1 Goldback Note – 1/1000th ounce of gold
  • 5 Goldback Note – 1/200th ounce of gold
  • 10 Goldback Note – 1/100th ounce of gold
  • 25 Goldback Note – 1/40th ounce of gold
  • 50 Goldback Note – 1/20th ounce of gold

Goldbacks are made through a process known as vacuum deposition. This process combines exact quantities of .999 fine 24-karat gold and razor-thin sheets of a protective polymer known as aurum. Durable and strong, aurum provides exceptional protection.

While the hope is to adopt Goldbacks as an alternative to traditional paper money, the legal tender status of gold and silver products is determined by the individual state’s governing body. States like Utah, Nevada, New Hampshire, and Wyoming have passed legislation allowing for the use of gold as spendable money, however, future legislation will most likely be necessary to solidify Goldbacks’ status as legal tender. Goldbacks are often referred to as voluntary currency. Even in the states that have successfully passed appropriate legislation, acceptance of Goldbacks is typically at the discretion of the merchant.

While Goldbacks may or may not be widely accepted in local businesses, they are becoming increasingly popular as bartering instruments worldwide. Goldbacks also offer unique beauty and exceptional value for investors and collectors.

Yes. Goldbacks consist of real gold. They are made by applying precise quantities of gold paint to thin plastic sheets in a process known as vacuum deposition. The gold paint is essentially emulsification of the precious metal.

Instead of simply being backed by gold, Goldbacks are actually made from precise quantities of metal. The larger the denomination, the higher the gold consistency resulting in slightly bigger physical dimensions.

  • 1 Goldback Note – 4.61″ x 2.56″
  • 5 Goldback Note – 5.12″ x 2.56″
  • 10 Goldback Note – 5.59″ x 2.56″
  • 25 Goldback Note – 6.1″ x 2.56″
  • 50 Goldback Note – 6.97″ x 2.95″

In reference to currency, the term ‘interchangeable denominations’ means that the total value of one bill or coin can be equally exchanged for a certain amount of smaller bills or coins. For example, four $5 bills equal one $20 bill. While most gold products, like coins, carry premiums, and are, therefore, not considered interchangeable. In other words, the value of a 1 oz. gold coin does not equal the value of four ¼ oz. gold coins. Goldbacks are considered interchangeable – a 50 Goldback is equal to two 25 Goldbacks, five 10 Goldbacks, or ten 5 Goldbacks, etc.

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