The Goldback project truly began in spirit with the passage of the Utah Legal Tender Act in 2011 which recognized certain types of Gold as currency within the state. Since that time the technology to mint gold into a spendable form for small transactions has come to fruition. Goldbacks may be used almost anywhere in the world for barter transactions. Goldback Inc. is using cutting edge vacuum deposition technology to circulate gold as it never has before. A more complete history of the Goldback can be found here:
We are working to make it possible for anyone to have a choice on whether or not they want their regular spending money to be subject to inflation. The Goldback is meant to be the best physical complementary currency for retaining value. Our goal is for people to be able to pay for anything with the Goldback whether it is a new home or a lemonade. Each Goldback is at least valued at the current rate on Goldback.com by businesses.
ALL GOLDBACK DENOMINATIONS INCLUDING THE 1, 5, 10, 25, AND 50 ARE AVAILABLE FOR RETAIL PURCHASE IN-STORE OR ONLINE. GOLDBACK INC IS A WHOLESALER, GOLDBACKS CAN BE PURCHASED FROM THE UNITED PRECIOUS METALS ASSOCIATION* IN ALPINE, UTAH
What is a Goldback?
The Goldback is a voluntary, local currency in Utah that is made from gold. … Unlike most gold products, the Goldback is designed to be used as a currency with interchangeable denominations rather than varying premiums based on gold content. They can be used/spent nearly anywhere in the world.
How much is a Goldback worth?
The $1 Goldback actually costs approximately $2.60 to purchase, so you're technically losing a little bit each time you purchase the Goldback from the manufacturer. After this, the Goldback can just be exchanged for its dollar face amount.
Is gold legal tender in Utah?
Gold and silver have been explicitly made legal tender in the state of Utah. Passed in 2011, House Bill 317 reads “gold and silver coin issued by the federal government is legal tender in the state.” … Utah and Oklahoma are leaders in this field, declaring gold and silver legal tender within their states.