Are goldbacks a good investment?
Goldbacks have appreciated in price from $2.00 in 2019, to an average of $3.75 at the end of 2021. This is an 87.5% appreciation during a time when gold coins and bars went up by about 60%. No one has ever lost money stacking Goldbacks (so long as they weren't overpaying.)
...
5 Nevada Goldback 1/200 oz 24K Gold Foil Aurum Note Specifications.
| Weight | 0.001 oz |
|---|---|
| Country | United States |
| Type | Gold Bars |
| Mint | UPMA |
| Year | Various |
The Goldback is designed to be a local currency within certain regions where a series exists, that being Utah, Nevada, New Hampshire and soon to be Wyoming. They are considered voluntary local currency.
Goldbacks are meant to be spent, bartered with, and traded around the world. Many small business owners are open to accepting the Goldback for small transactions. Using gold as currency is important because it has lasting value that is not subject to the volatility of fiat or crypto currencies.
The melt value of one 50 Utah Goldback 1/20 oz 24K Gold Foil Aurum Note bar is $92.97 based on the current gold spot price.
The Utah Goldbacks are a local legal currency with a face value of $1 Utah Dollar.
The Utah, Nevada, and New Hampshire Goldbacks are a world-first form of gold “paper” currency that can be used as legal tender. Because the Goldbacks were made with the intention to provide an alternative currency to the US Dollar, they are easy to store and visually stunning.
Only about 2,600 of the fifty denomination exist from the Utah 2019 series. They have already become somewhat of a collector's item.
Not just a novelty item, Utah's Goldback Notes are official legal tender. Plus, each bill can be melted down for its precious metal content if its owner would rather have a solid gold piece.
Goldbacks are gold foil notes that are crafted with. 999 fine gold paint on Aurum, a plastic film designed to hold the gold paint and be durable.
Are goldbacks legal tender?
LEGALITY OF THE GOLDBACKS
Although in the US the only legal form of money is fiat currency issued by the government, the Goldbacks are legal tender. This is because of the passage of the Utah Legal Tender Act of 2011, written and established by the legal counsel for the company.
Utah Goldbacks was the very first local, voluntary currency, made of beautiful, spendable, . 999 fine physical Gold, that vendors can choose to accept for transactions. In 2011, the Utah Legal Tender Act was passed, recognizing gold as currency.
Stefan Gleason, the president of Money Metals Exchange in Idaho, likes goldbacks, especially the fact they come in different values — from notes worth about $2 all the way up to $150. “This fulfills a niche in the sense that it's a very small denomination form of gold,” he said.
question: how can you get your very own Goldbacks? Well, there are three sources: eBay.com, UPMA.org, and Apmex.com. All of these options are excellent, but at if you sign up for an account at UPMA.org, they will send you your first Goldback note absolutely free!
The Utah Legal Tender Act, which was passed March 10, 2011, recognizes gold and silver coins as legal tender in the state of Utah.
The state gold rush: Utah became the first state to introduce its own alternative currency when Governor Gary Herbert signed a bill into law last March that recognized gold and silver coins issued by the U.S. Mint as an acceptable form of payment.
The United States Constitution which states in Article I, Section 10, "No state shall... make anything Thing but gold and silver Coin a Tender in Payment of Debts."
Valaurum has been developing the process for nearly two decades and it has never been counterfeited. It is truly the most technologically advanced process for creating a physical gold money in the world today. See them made here: The Utah series was the first Goldback series available in 2019.
