GoldBacks ??? What are they ?
Greetings,
There is something I had never heard about, before coming to the SilverGolsStackers community : Goldbacks.
So I went to have some more information about it, it's a currency, backed by gold, the goal is to counter the inflation of the existing currencies.
They print notes, and integrate a quantity of gold that will give the value to the note.
There is a number printed on the note, corresponding to its gold weight.
The increment is by 1/1000th of a troy ounce of 24 Karat gold.
So, on the image shown here, we got a Goldback of 45, which has 45/1000th of a troy ounce of 24 Karat gold.
The value, at this time, is about 5.61 USD for 1 GoldBack, noted 1GB, like shown here under, where I calculated my account value in GB:
Source: https://www.goldback.com/calculator
Why not in Belgium or worldwide ?
They have several series, depending on the states they are used, they consider those GoldBacks as local currency.
My questions, yes I always have questions ...
- Are they legit in the whole country ?
- And can we find GoldBack notes in other countries?
- Do they keep their value anywhere ?
Normally, they should keep their value as the gold remains in them, no matter where you hold them.
I suppose they made local currencies so they can count as money instead of gold investments, with some "insurance" for merchants accepting those notes?
Should I get some?
I have absolutely no idea where to find them except from friends of SGS, if you have addresses in Europe, it would save me a lot of sending costs :)
Have a nice day, and "Cyall Soon" :)
Note: Still trying to recover from leg surgery. It's darn long ...
| O.J. | Towards Financial Freedom! |
|---|---|
 is my path to financial freedom, via precious metal stacking. I try to achieve this to bring a heritage for my family. I'll post about my progress as well as anecdotes. |
See you all Soon.