The Problem with Goldbacks is...
66,552
Published 2022-01-10
I stack silver and gold to hedge against our debt-fueled, fiat currency-based economy that I am convinced is in severe trouble. Consider stacking silver and gold yourself to help you build and preserve wealth. And thank you for watching Campbell’s Coins!
My first Goldback video: • Utah Goldback: Boom or Bust?
My second Goldback video: • BIG NEWS for GOLDBACKS
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Topics Discussed: gold as money, goldbacks, cbdc, central bank digital currency, central bank digital currencies, gold, gold stacking, precious metals, goldbacks currency, goldback value, should i buy goldbacks, what are goldbacks, digital currency, coins, coin, gold coin, gold coins, gold bar, goldback, utah goldback, american currency, fiat, gold back currency, gold backed, legal tender, gold backed currency vs fiat, gold stacking for beginners, gold stacking on a budget, gold stacking youtube
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All Comments (21)
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A few people mentioned their comment was deleted. I'm not sure what is going on with those, I don't delete any comments. Please let me know if your comment was deleted. I'm hoping it is just a glitch with YT. Anyways, thank you as always for your time and discussion -CC
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QUICK FACT: It's illegal to create other nationwide currencies, but legal at state level, that's why the Goldbacks and others will always have a state name printed in them
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If the premium weren't so steep and on top of that, sales tax applied, Goldbacks would grow in popularity because it takes the currency out of the hands on the Fed.
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The claim about them replacing damaged goldbacks is 100% true.
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I use them as a way to save money, it's not easy to spend them which means I can actually save money easily.
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I would accept a Goldback confidently from a stranger, confident that it’s real gold.. A gold coin or bar from a stranger? Not so much. In fact, not at all.
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Goldbacks aren't for stacking, they are made to be used.
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IMO. I Understand the Premium and Technology. I have NO Problem with that. The Problem I have is the constant loss when you buy and use the Goldback. You loose TWICE Too many prices on the buy and sell from Dealers and retailers makes it not a good investment. IMO there should be NO denomination. The Price is Spot ($1,875) x 2 (Premium to Manufacture) / 1000 (Weight) So a Goldback should be exchanged everywhere at $3.75 The Technology is Amazing and worth every Penny. Get rid of the "Dealer" and sell direct and 1 buy/sell price only. Just a thought
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The gold back is like any other precious metal purchase. Buy low sell high. But the convenience of using a small denomination of gold without trying to shave a portion of a gold bar, just make it more sensible…
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Actually, it is Legal in the State of Utah because it is "Sound Money" and we must never forget that the Powers not granted to Federal Government by the Constitution are reserved to the States and the People Therein.
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Problem solved: It appreciates in value over the LONG term. As long as it keeps on doing that, it's a lot better than state currency.
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This is sound, solid, no bank fees. The bankers can't fuck with it.
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the main point of having goldbacks, regardless of the price difference, is to have another purchase option in the event of an emergnecy when people will not accept dollars.
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Your Cons don't scare me. I like goldbacks. They look cool and no one is going to handle it enough to damage it. Everyone I show would rather have those than coins.
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As a stacker you have to stop wrapping your head around the premium. It’s a hedge against inflation and our current fiat currency as we know it. Buying from say APMEX or eBay is stupid. The Goldback can be purchased from many other sources close to if not the exact same as quoted on the Goldback site. The purchase price is pretty much equal to the value of goods it can be exchanged for. If gold goes up so does the purchasing power of the Goldback. Not meant to be an investment in gold or for stacking!
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I bought some of these, 10 of the $1 New Hampshire series. I did not buy these for “stacking” or to use as trade or barter (well maybe if the economy completely falls apart). I bought them purely as a novelty/collector item, they are something completely new and different and in my opinion “art”. Much like SOME of the colorized coins. Many are gaudy crap that ruined a piece of silver…. But some are actually very nice to look at. That’s how I perceive Goldbacks also.
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Here's something to think about: In the Constitution of the United States of America (the Supreme Law of the Land), it is written that the States shall make nothing but Gold & silver COIN (as in physical metal) legal tender for transactions & the payment of debts. Next ask yourself, when did the USA stop using silver to make its coins? When was the dollar taken off the gold standard? What has happened to the value of the dollar since? Why are they now pushing everyone into "cryptocurrency," which is UNCONSTITUTIONAL by the way, instead of reverting back to gold & silver? Wont crypto make everyone MORE dependent on or susceptible to things like phones, chargers, internet & electricity blackouts, EMPs (solar flares, etc)? Wont crypto make it easier for hackers & governments to spy on & enslave everyone? When the power goes out or disaster strikes do you really think people are going to choose crypto over gold & silver..? Just food for thought.
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I agree so far on this topic! I buy one of each to collect, but that is about it for now... They are also not a bad gift if you buy in bulk since you can get them much cheaper...
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everyone knows gold is expensive and therefore is valuable.
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Excellent video and review! I completely agree with the silver coin angle.
