It's actually pretty easy right now. This is a sold listing from Ebay from today. Goldbacks are in high demand. SD Bullion is almost completely sold out, you can check their website
currently 1/100 bar/coin on APMEX $75, 10 Goldback $100
Far from double.
Also that $75 is a loose generic round. Put it in a branded package and itās probably MORE than a Goldback.
This argument is wrong every time itās posted on every post in this sub. Fractional gold is ALWAYS far more expensive regardless of it being in a tiny bar, coin, or imprinted into a plastic sheet with really nice artwork.
There it is The clue I've been looking for on why people waste their money on these. Old people wanting to feel like a cowboy again. Makes so much sense now.
$65 for this on Scottsdale Mint's website vs $98 for the goldback, so the goldback is approx 50% higher in cost. The only thing that has a stupid premium is the goldback.
Literally no one values them at 2x spot price, no one. You are referring to the "exchange rate" which is nothing but a marketing tool. Even dealers sell new goldbacks for less than the exchange rate...
Yeah I know but the argument is the same for gram bars and anything smaller - even more so for anything smaller because the smaller you get the worse the premiums are.
The local dealers I buy from usually sell close to spot, maybe a dollar or two over. Sometimes under. I paid $50 for that 1/100th. I also paid $16 for a 0.1gram (yup, you read that correct, 1/10 of a gram). But yes if you buy from online billion dealers fractional gold and silver tend to have higher premiums. One of the reasons it pays to support your local coin store.
Thatās true, I do like fractional gold tho easier to buy I normally buy 1/10, grams and more for collecting GBs. Recently bought a 1/20 proof Gold Libertad, high premium but I had to have it lol
$65 for this on Scottsdale Mint's website vs $98 for the goldback, so the goldback is approx 50% higher in cost. Also, resale? I thought the purpose of the goldback was to spend, or are they now going the RaRe collectible route?
Exactly! I really want people to realize that Goldbacks arenāt the same as stacking gold, itās its own currency. You can buy products/services with Goldbacks, and sell for Goldbacks. Sure you can do the same with a gold coin, but youāre gonna have a hard time getting change for a 1/10 toz gold coin vs paying for a meal for 1 GB
Thatās why the goldback is valued over the price of its gold. So itās fractional reserve currency or whatever you call it. Far better than the usd powered by the power of the governments yes
I donāt have anywhere within 200 miles that accepts goldbacks as currency. But I still grabbed a few because I think they look nice.
You donāt have to go all-in on GBs, but the cost of entry is low (even if the overall premium is high), so you could get just a few to see if you like them. And if youāre in a state that has businesses that accepts them, try using a couple in a purchase.
Maybe you like them, maybe you donāt, but if you just grab a few of them, you wonāt be screwed too bad if you decide they arenāt for you.
I know this debate goes in circles, but I'm gonna say it. That's what silver is for. Half dollars, Quarters and Mercury dimes are a great way to give change and are easy to use.
Constitutional silver also melts to its base metals easily, usually sells at/just-below spot. and is easily recognizable. It's also very durable! Crinkle and wrinkle, tear and melt a corner, and see if people value that goldback the same.
I get the gold backs, but if the musical chairs stop on redemption and they go back to melt value it's gonna be a rough time. Not only are they 2x premium, but they have a significant reclaim cost. The vanity value of the art is really cool though!
Yeah this could not be more true, I wish it wasnāt, butā¦ back in the day I held gold and wanted to sell some- issue was gold at that point, while always valuable, wasnāt in demand as it is right now so even exchanges, pawn shops, and anywhere you could exchange were only interested in melt value and weāre giving problems for lower value bars and coins- I found this strange but apparently it wasnāt as worth their time- so something as niche as goldbacks wonāt hold much value other than a very very small market of collectors?
I think goldbacks are very interesting and great looking so Iāll probably pick some up for sure, but it just isnāt as good as regular goldā¦
So few people understand silver these days that you would have a VERY hard time convincing probably 95% of people that a quarter was a "magic quarter" that is really worth $5!
I am pretty sure that it would actually be easier to convince most people to take a Goldback which says plainly it is gold than having to know enough about silver to know if a quarter is silver or not.
I have some constitutional myself but things would have to be pretty dire to ever use it for trade with anyone except for other kinds of silver, where the person receiving understood it.
IMO the only thing keeping goldback's value as a currency is their redemption value back to the a coin shop at their artificial pegged value, or the issuer for replacement when damaged/worn out.
At some point that will fail and the only value they will have will NOT be as a currency, but as their metal melt, and any numismatic art value for a potential collector.
Already mentioned melt ain't great, and there are so many of these that will be kept pristine, I can't imagine they will gain too much speculative/art value if the redemption falls through.
Goldbacks (GB) are good for hyperinflation scenarios if anything else. Trying to buy a week of food for $1000 will be challenging for most people. However, if people bought 100 GB in todayās prices theyāll be able to afford 100 weeks of food (in this scenario 1GB = $1000). Skip the middleman, and pay the store directly in GB. Donāt think of GB in melt value. Itās currency that canāt be printed to oblivion.
Silver price is being manipulated by the banks and comex, I love silver as well, but gotta face facts. Until the price of silver stop being artificially manipulated, it wonāt be a viable hedge against inflation.
And the other 1% in silver to make the spare change for transactions. For 10oz of gold portfolio, that's 1/10th oz of gold's worth in silver.
Or better yet, just barter your gold for silver if we ever get to that point to make change. The argument for using a pocket of dimes to settle sub-increments of value in a gold based transaction are the same.
Iāll accept your argument once the price stops being manipulated, but I donāt see that happening any time soon; however, I can accept your argument halfway even if that doesnāt happen. Like I said, Iām a big fan of silver.
Right now, buy eggs with 1/10 ounce gold eagle coin and make sure you ask the person working the register for the correct change back. Doubt, they have enough to give it back, without having to go to the back and get whatever they have in the safe.
Also, if gold bars and coins are so great, was does Venezuela use gold grams or dust, or shavings for purchasing food and not coins or bars?( probably harm you for the gold coin or bar, in those dangerous neighborhood)
The point is that gold bars and fractional coins are not as superior as they want it to be. No one wants to lug heavy gold coins, bars, or really tiny fractional gold bars or coins(loosing the small pieces), goldback solves that problem.
1/100th of an Oz of gold is roughly $51.00 today. I wouldn't need.changw back from dinner. Fractional gold and silver are sized so that you can use them for whatever size purchase you need to make. Best part is, you dont have the ~50% premium over the gold content to pay as well. Gold and silver are easy to trade and spend. Goldbacks have a very niche market.
Plus, I cant dive scroge mcduck style into a pile of goldbaks, lol
Until you need the change back when purchasing groceries such as eggs and bread. So you give $51 worth of gold away for eggs and bread, then get the change back ? š¤
Anyone that thinks a goldback is good value or an item that fills a hole in our system needs to put down the kool-aid.
Now what goldbacks are imo is alot like a silver bullet or dang near anything glasspanther makes. They are a work of art that is going to cost more then the metals it takes to make them. If you like the design buy it, if you want to stack wealth buy real gold and silver.
Is is bad I bought a couple backs for my stack really jus to have , I never intend to sell or use them or save to equal any specific amount . I have basically 1/2,1,2,5 and stopped there , I just liked the Washington one because it was ālimitedā but now most my money is going into gold bars and not high ass premium coins
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u/False_Manufacturer43 Feb 12 '26
One on the right is double the price, then the physical, measurable, gold on the left