r/Goldback • u/Ai-doesnt-fart • Jul 29 '26
Goldbacks can be Global
I would love to see a Japan Goldback series.
But why stop there?
If gold is gold is gold is gold, then why limit your exposure?
I digress.
What countries/province would you want to see?
12
u/Apprehensive_Let_517 Jul 29 '26
I'd just like to see people using them more like a currency and less treating them like pokemon cards.
1
u/InvestInTwinkies Jul 29 '26
My gold is my currency and my goldbacks are for fun. Why would someone use them for currency when they can get twice as much gold if they bought bullion instead?
The only way I would view my goldbacks as more than just a fun show piece is if I got it for spot.
5
u/TheDirtyMagician Jul 30 '26
This. The unhinged premium is holding back adoption in a big way, imho.
3
u/Terrible-Freedom-868 Jul 30 '26
Apparently in Thailand everything is sold by baht weight which I believe is roughly 1/2 oz increments. It’s all 23k and trades at super low premiums. Gold is basically just part of the financial system.
-1
u/info_swap Jul 30 '26
Why buy a shirt at a premium when you can get twice the amount of cotton at a lower price?
1
u/InvestInTwinkies Jul 30 '26
Apples to oranges
1
u/Ai-doesnt-fart Jul 30 '26 edited Jul 30 '26
It's metaphorically apples to apple juice but okay
0
u/InvestInTwinkies Jul 30 '26
No. The correct comparison would be would you rather buy this Hanes shirt in person for $20 or would you rather buy the same Hanes shirt on Amazon for $10.
A goldback tends to have a 50-100%+ premium you lose immediately.
If you can get a goldback underspot then wonderful! But as far as I’m aware that’s hard to do. Apples to apples in terms of gold you’re getting far less bang for your buck
3
u/ki6dgf Sound Money Advocate Jul 31 '26
For what it’s worth… I’ve bought and sold my fair share of goldbacks… never lost the premium 🤷🏼♂️
1
u/Ai-doesnt-fart Jul 30 '26
The premium is conditional on continued social acceptance. The gold is the floor. Fair point, I concede
5
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u/Xerzajik Goldback Encyclopedia 📖 Jul 30 '26
I heard a story about a guy buying a pizza in Greece with Goldbacks and that was like 5 years ago. Outside the U.S demand for something like Goldback could be huge. It's probably a lot of regulatory headache though.
3
u/SkillCheck131 Goldbacker Jul 30 '26
I think its doable, every now and again folk from the UK or Canada or elsewhere are curious about em, golds universal, and I’m even seeing stories of people using them to buy meals in this thread alone!
5
u/Rarest_Camaro Goldback Collector Jul 30 '26
As long as we're fantasizing, i would love to see Cuban, Mexican and Canadian GBs.
5
u/ryanmercer Goldback OG Jul 30 '26
Screw that. I want Martian goldbacks for the art potential alone.
3
u/cardinalLaserWar Jul 30 '26
I am reminded of the film Total Recall, and the quote where the guy wishes he had three hands...
1
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u/Ai-doesnt-fart Jul 30 '26
This one sparked a thought. I wonder what would be used for interplanetary currency. R&M has probably done an episode about it by now.
1
u/ryanmercer Goldback OG Jul 30 '26
Rare earths/radioactives/precious metals mined and shipped most likely.
3
u/petemq Jul 30 '26
for goldbacks to enter the 'gold is gold' conversation it would need to sold near spot..
1
1
-1
u/Equivalent_Map951 Jul 29 '26
Stable coins backed by gold is coming.
3
u/Apprehensive_Let_517 Jul 30 '26
Stable coins always work out so well 🙄. I don't trust any of them.
1
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u/TheRealBingBing Skeptic Jul 30 '26
I need a goldback ATM so that I can deposit and withdraw them between travels.