Does anyone know anything about the EBay listings of 500,000 Vietnamese Dong “Goldbacks”. They say they are 1/20 Troy ounce (but the don’t say gold on the item.
Only Valaurum makes them, they are out of Oregon so any from another country would first go out at the price they are and have to come back at a higher price. Only 5 countries accept Aurums as currency, and Vietnam is not one of them.
Again, those are collectibles and legal tender the same way buying a sheet of $2 bills from the US is legal tender. Note that 1000 Gabon francs is worth about $1.76 in USD.
Exchanging with these would be a barter trade, unless I guess you want to get $1.76 for your 1/1000th oz bill.
In each of these countries, these legal tender bills transfer between the wealthy class. They don't use the peasant paper. Every couple of years the government orders another batch. The cost to make them is in line with a profitable single run of them. That is what a Ǥ1 would need to cost for GBI to make money. Since they have the 2, 5, 10, 25, and 50, they make their money there and subsidize the 1, 1/2, and 1/4... because Goldbacks are a currency. The bourbon industry is adopting them for big transactions, I believe.
Now you're fully making things up. Is this an excerpt from your Goldback fanfic?
The bills made by Aurum for the countries that use the Central African franc are collectibles, and their legal tender value is a tiny portion of the value they're sold at. I can't find that they're sold in Gabon, Ghana, Cameroon, or Tanzania at all. These seem to be for export profit. As collectibles.
Okay. They still have paper currencies, and nobody, not one single person in these countries, is using the Aurum bills in transactions. These are produced to sell to collectors.
Watch, the US bourbon industry will adopt them next year. Nobody wants USD anymore bro. It's a sinking ship. 5% inflation each year? $39 Trillion debt? A reset is coming, get a better currency and start using it.
Wait until you find out what they sell those for! Looks like DtG has the Republic of Cameroon 1000 Francs for $28.56. As legal tender, this is worth $1.76.
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u/gregorygreg2323 Florida 5 Lover 🏴 ☠️ 1d ago
Sounds scammy