One thing I really like about #goldbacks is that the government doesn’t have the power to deprecate a #goldback note as they can do with a USD note (as the Indian government did not too long ago). If the US government says that tomorrow $100 bills are now worth $0, everybody will stop accepting $100 bills. No one can claim that a goldback note is $0 because the notes will still contain the #gold and will remain fungible with other goldback notes.
#Money #Fiat #Gold #Currency
I have yet to but some.
As I still feel like gold prices are heavily manipulated.
But I like the idea.
Yes, the price of #gold is being suppressed through paper gold contracts. Some say this state of affair can’t be maintained forever and although I agree, the timeline as to when it will happen is unclear. I wouldn’t necessarily buy #goldbacks to become wealthy (although I think they have the potential to lead to this outcome) but rather to hedge against the coming #CBDC and other measures aiming to control what you can do with your money. It’s also a good hedge against #inflation. It’s really easy to transact with goldbacks. They will be a great replacement for #cash when it will be phased out.
#goldback #money #currency
Also regarding the manipulation of the price of #gold, keep in mind that the premium is as important as the spot price. Although the spot price can be manipulated, the premium is up to free markets. There is a reason people are willing to pay about 100% over spot price for a #goldback. There is no limit to how high this premium can rise.
#goldbacks #currency #money
Thank you for your insight.
I’m probably buy some.
At the right price.
They make different denominations in Troy ounce correct?
Yes they come in 1, 5, 10, 25 and 50 denominations. All #goldbacks are fungible meaning that two 5 #goldback notes contain the same amount of gold as one 10 goldback note.
Thank you.
I’ve only seen 1s in person & 1, 5s for sale online. Had no idea they came bigger then that.
Do you know off hand what a 50 is in Troy?
1/20 of a Troy ounce.
You’ll see that those are substantially thicker and heavier. Also they may not fit in a regular wallet (there is a #goldback wallet). They are good for storing. For paying I’d rather use smaller denominations unless you’re purchasing a big ticket item of course.
Very understandable
Thank you.
