So I didn't know much about the Goldbacks that VK showed us the video of so I did some digging. Found a few videos of how they work when you want to spend them. The value is based on the daily value of gold in percentages. IE: 1 Goldback has 1/1000th worth of gold in it, so exchange rate is worth ~$3.98 or $4 or whatever the rate is that day. There are several videos out there so you can search for yourself. I found this one where this guy is using his Goldbacks instead of Fiat. Obviously Utah, Nevada, New Hampshire & Wyoming are now accepting them. Soon South Dakota will be too. It is explained that you can inquire to a business if they will accept them in your state if you don't live in one of these states. Anyway, I found this video, hope it helps understanding the Goldbacks which will keep or increase their value unlike the US dollar. I believe eventually all states (well most) will accept them.
https://www.youtube.com/wa...
https://www.youtube.com/wa...
Trying To Buy EVERYTHING At This Expo With GOLD Money! (Goldbacks) - YouTube
Ron goes shopping at the 2022 Be Prepared EXPO with nothing but GoldBacks in his wallet. You'll be shocked at how many vendors would actually accept GoldBack...
02:46 PM - Dec 28, 2022
Only people mentioned by Patriot63 in this post can reply
DIGITAL SQLDIER
@QOONASS
29 December, 03:14
In response Mare Qay - WWG1WGA! to her Publication
im not spending this one though. its my very first and only one i have currently
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GorillaB 369
@GorillaB
28 December, 09:47
In response Mare Qay - WWG1WGA! to her Publication
You are getting about $1.81 in gold, using today’s spot price ($1,817 troy ounce). They are making about $2 off of each goldback sold. Understandably they are running a business that is manufacturing and marketing these and they need to profit. Not mad at that.
According to their website you can trade 1000 goldbacks for a 1 ounce gold coin (exg: gold eagle). So let’s say you do this. Assume you paid $4 per goldback. Welp, You just spent $4K for a 1 ounce coin that has a spot price of $1,817.
Now we know, no exchanges sell at spot (not profitable) so with mark up a 1oz gold eagle coin is around $2K today. Even with a dealers mark up you will pay double the price if you were to exchange the goldbacks for a 1 oz gold eagle coin.
Screenshot source: Apmex
According to their website you can trade 1000 goldbacks for a 1 ounce gold coin (exg: gold eagle). So let’s say you do this. Assume you paid $4 per goldback. Welp, You just spent $4K for a 1 ounce coin that has a spot price of $1,817.
Now we know, no exchanges sell at spot (not profitable) so with mark up a 1oz gold eagle coin is around $2K today. Even with a dealers mark up you will pay double the price if you were to exchange the goldbacks for a 1 oz gold eagle coin.
Screenshot source: Apmex
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Mare Qay - WWG1WGA!
@Patriot63
28 December, 09:50
In response GorillaB 369 to his Publication
All good info
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Royal Raven
@Royalraven
28 December, 08:48
In response Mare Qay - WWG1WGA! to her Publication
Here's a list of companies that sell goldbacks found on goldback.com Compare prices and shipping they vary.
https://www.goldback.com/w...
https://www.goldback.com/w...
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Mare Qay - WWG1WGA!
@Patriot63
28 December, 08:57
In response Royal Raven to her Publication
Excellent, I did go there as well & they have some good videos too.
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28 December, 08:37
In response Mare Qay - WWG1WGA! to her Publication
Thanks Mare!
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Mare Qay - WWG1WGA!
@Patriot63
28 December, 09:02
In response KungFu Kelly to her Publication
YW! Like VK always says, *Not a financial adviser* lol
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Time to Rise Patriots!!!
@TBIYTC
28 December, 06:56
In response Mare Qay - WWG1WGA! to her Publication
I'll have to look into these.
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Stevie King
@ShineBright9
28 December, 02:50
In response Mare Qay - WWG1WGA! to her Publication
So my question is? Those who are selling these goldbacks to people, how were they so priveleged to get them to be able to sell them? Was this stuff confiscated from the DUMBS or where did they come from? 🧐🧐🧐
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Mare Qay - WWG1WGA!
@Patriot63
28 December, 02:55
In response Stevie King to her Publication
Can't answer that for you. I know places Like JM Bullion sells them just like they sell gold coins/bars.
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