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In this video I talk about Goldbacks and the pros and cons surrounding this controversial gold product. Goldbacks are a currency that is made out of gold. Goldbacks can be used for barter and are becoming more recognized across the world. Goldbacks come in 5 denominations and currently have 5 state designs. There are Utah Goldbacks, Nevada Goldbacks, New Hampshire Goldbacks, Wyoming Goldbacks, and South Dakota Goldbacks. Some of the negatives for the Goldback are the fact that the premiums to obtain them are very high and they can be difficult to find. Goldbacks are quite new only being out for 4 years now and are less liquid compared to other gold products. Some retailers have high premiums on Goldbacks over the exchange rate making them even less attractive. Some of the positives for the Goldback currency are the fact that they are educating the public about gold and encouraging the use of sound money. Goldbacks also track the price of gold and have gone up in value as gold has gone up in value. Below is the Goldback website:
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The Goldbacks seen in this video were provided by Goldback Inc.
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