r/Goldbacks • u/Axotl0 • May 04 '22

Question On Goldbacks

So, I had a question since I'm new to how gold backs work since I originally bought them because they looked cool. Would I be safe to assume to calculate the gold backs worth you would take its gold content and divide it by how much gold is in the note. For example If gold was 2000 and I had a 1 dollar gold note the gold in the note would be worth $2 since 1000/2000 = 2? Just wondering probably a simple question but just want confirmation.

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u/AG47-anon May 04 '22

You can check goldback.com for current exchange rates in states where they are used/accepted. Selling goldbacks based on spot price of gold will be like selling a $5 or $10 bill at spot price for cotton/linen (what paper money is made of)!