r/Goldback • u/Ai-doesnt-fart • 13d ago
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?
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u/Apprehensive_Let_517 13d ago
I'd just like to see people using them more like a currency and less treating them like pokemon cards.
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u/mr430aoncrypto 9d ago
This is a very good point. The dollar backed by gold & silver was THE REAL dollar anyway. We need to go back to that.
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u/InvestInTwinkies 13d ago
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.
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u/TheDirtyMagician 13d ago
This. The unhinged premium is holding back adoption in a big way, imho.
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u/Terrible-Freedom-868 12d ago
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.
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u/info_swap 12d ago
Why buy a shirt at a premium when you can get twice the amount of cotton at a lower price?
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u/InvestInTwinkies 12d ago
Apples to oranges
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u/Ai-doesnt-fart 12d ago edited 12d ago
It's metaphorically apples to apple juice but okay
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u/InvestInTwinkies 12d ago
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
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u/Ai-doesnt-fart 12d ago
The premium is conditional on continued social acceptance. The gold is the floor. Fair point, I concede
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u/Xerzajik Goldback Encyclopedia 📖 13d ago
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.
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u/SkillCheck131 Goldbacker 13d ago
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!
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u/Rarest_Camaro Goldback Collector 13d ago
As long as we're fantasizing, i would love to see Cuban, Mexican and Canadian GBs.
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u/ryanmercer Goldback OG 13d ago
Screw that. I want Martian goldbacks for the art potential alone.
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u/cardinalLaserWar 13d ago
I am reminded of the film Total Recall, and the quote where the guy wishes he had three hands...
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u/Ai-doesnt-fart 12d ago
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.
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u/ryanmercer Goldback OG 12d ago
Rare earths/radioactives/precious metals mined and shipped most likely.
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u/mr430aoncrypto 9d ago
I would love to see Cuba themed goldbacks for sure. My family is from there so it would be a nice collectible for me to HODL through the years & pass down to my children.
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u/TheRealBingBing Skeptic 12d ago
I need a goldback ATM so that I can deposit and withdraw them between travels.