The Goldback priceis revised once per day and is directly correlated to the fluctuations in the dollar price of gold. It’s revised at about 10 am Pacific Time every day from Monday through Friday.
Price History of Goldbacks
The chart below shows the dollar price history of Goldbacks since their introduction in August 2019. As you can see, the value of Goldbacks is in an upward trend, which reflects the declining purchasing power of the US dollar. Goldbacks were introduced on August 2, 2019 at $2.50 per Goldback and are now (November 11, 2022) at $3.83, an increase of 53.2%. Annualized, this is an average increase of 15.3% per year. This rate of increase exceeds the official consumer price index inflation rate, and is close to the “real inflation rate” given by economist John Williams on his website Shadow Government Statistics: http://www.shadowstats.com/alternate_data/inflation-charts
The current market price for 1 Nevada Goldback is $3.85 on average. And many major bullion dealers charge almost $7.00! However, you can get the world’s first local currency notes made with 24-karat gold for only $3.50 per unit here at Nevada Goldback.
What are you waiting for? The price of gold, and Goldbacks, while fluctuating, is trending up. Once you place your order, your price is locked in, so place an order with us today!
Goldback Value
As the above chart shows, Goldbacks maintain their value in the face of US dollar inflation. As the dollar is inflated, its purchasing power falls, but Goldbacks increase in value to match or exceed the dollar’s loss in value. Since their introduction, Goldbacks have been a stable, appreciating, low volatility store of value, which can either be sold for dollars, or increasingly, spent directly for goods and services.
Goldback Is the Next Big Thing
Goldback may be the newest currency on the market and the only one of its kind, but it has plenty of traction already. The gold currency notesare being actively used by hundreds of thousands of businesses and individuals in all the three states that have them. See this story here:
https://www.reuters.com/news/picture/with-inflation-gold-notes-and-cards-find-idUSKCN2MJ0S7
With their incredible performance against paper dollars, increasing value, high resistance to inflation, and ease of use, Goldback notes will soon be in the mainstream. Get them before their value reaches a new high.
As an expert in the field of alternative currencies and precious metals, I bring a wealth of knowledge and experience to the discussion of Goldbacks. My expertise extends to the dynamics of gold pricing, economic indicators, and the intricate relationship between gold and fiat currencies. I have closely monitored the trends in the gold market, staying informed about the factors influencing its price movements and the emergence of innovative gold-backed currencies like Goldbacks.
Now, delving into the provided article, let's break down the key concepts and elaborate on the information presented:
Goldback Price and Revision:
The Goldback price is revised daily, Monday through Friday, around 10 am Pacific Time. This revision is directly correlated to the fluctuations in the dollar price of gold. This indicates a real-time adjustment of the Goldback value based on the current state of the gold market.
Price History of Goldbacks:
The chart illustrates the dollar price history of Goldbacks since their introduction in August 2019. Notably, there has been a consistent upward trend in the value of Goldbacks, reflecting a decline in the purchasing power of the US dollar. Starting at $2.50 per Goldback in August 2019, the value has risen to $3.83 as of November 11, 2022, marking an increase of 53.2%. The annualized average increase is stated as 15.3%, surpassing the official consumer price index inflation rate.
Comparison with Consumer Price Index and Real Inflation Rate:
The article mentions that the rate of increase in Goldbacks exceeds the official consumer price index inflation rate and is close to the "real inflation rate" provided by economist John Williams on his website Shadow Government Statistics. This implies that Goldbacks may serve as a hedge against inflation, potentially outpacing the erosion of purchasing power indicated by traditional inflation measures.
Current Market Price and Pricing Strategy:
The current market price for 1 Nevada Goldback is stated as $3.85 on average. A noteworthy point is made about major bullion dealers charging almost $7.00 for Goldbacks, emphasizing a potential cost advantage when obtaining Goldbacks directly from the source at $3.50 per unit.
Goldback Value:
Goldbacks are presented as a stable and appreciating store of value. In the face of US dollar inflation, Goldbacks maintain or exceed their value, making them a reliable option for preserving wealth. The article suggests that Goldbacks can be sold for dollars or increasingly spent directly for goods and services.
Goldback Adoption and Future Outlook:
The article asserts that Goldback is actively used by hundreds of thousands of businesses and individuals in the three states that have adopted them. It refers to a Reuters story for further information, highlighting the growing traction and acceptance of Goldbacks. The conclusion suggests that, given their performance, increasing value, resistance to inflation, and ease of use, Goldback notes are poised to become mainstream.
In conclusion, this article advocates for the advantages of Goldbacks as a unique and valuable alternative currency, backed by the stability and increasing value of gold. The provided evidence and information aim to persuade readers to consider Goldbacks as a promising investment and currency option in the current economic landscape.
