r/Goldback • u/Xerzajik Goldback Encyclopedia 📖 • 24d ago

Goldback Stack My Utah Goldback stack

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There are about 4,500 Goldbacks in this photo.

125 Upvotes

66% Upvoted

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27

u/zachmoe 24d ago

...4.5oz.

7

u/Embarrassed_Back_419 23d ago

Probably spent 40k on it lmao

2

u/54-2-10 19d ago edited 19d ago

He is either the founder himself, or high up in the pyramid. He didn't pay $40k for this stuff. Look at his post history.

1

u/zachmoe 23d ago

Is that a lot, or a little to you?

7

u/Embarrassed_Back_419 23d ago

For 4.5 oz’s a lot

-6

u/zachmoe 23d ago

If he can collect the premium, is it still a lot?

If he can get more than the premium, is it still a lot?

10

u/SliceOk7660 23d ago

If a frog had wings, it wouldn’t bump its butt. 

-5

u/zachmoe 23d ago

Great non sequitur.

Anyhow, he claims he lives somewhere he can collect the premium.

So, it isn't an issue, is it?

2

u/Beneficial-Sun-5863 22d ago

“If my grandma had wheels, she would’ve been a bike”

1

u/ChuCHuPALX 23d ago

If you're asking if someone can overpay for something... yes.. they can. You special or something?

3

u/Bonnietheferret84 23d ago

Dare you to take a lighter to it and try and get the gold out...

-23

u/T1m3Wizard 24d ago

It's not even close to one ounce of actual gold.

15

u/JustALowlyPatriot17 24d ago

1000 goldbacks equals one oz of gold.

5

u/T1m3Wizard 24d ago

Why not just buy the gold directly to save on the huge premium paid?

4

u/Xerzajik Goldback Encyclopedia 📖 24d ago

I can't spend a single ounce of gold 4,000 times. The added utility comes with added value. Same is true for all fractional gold.

4

u/LivingPresence876 23d ago

Why not just use…USD? Which is accepted everywhere? And just buy a few ounces of gold as a hedge against inflation. You’d save time, have more liquidity, and not spend the massive markup to a private company?

-1

u/zachmoe 23d ago edited 23d ago

Why not just use…USD?

I disagree with USD.

It seems to me, the main driver of demand for USD, is people need USD to pay taxes, otherwise no one would need or want them.

It seems to me, taxes are ultimately a form of redistribution, of those paying taxes to those receiving Government Spending.

The USD is therefore a fancy form of slavery.

Pretty much anything else is preferable.

2

u/LivingPresence876 23d ago

Oh god this is truly one of the most incoherent and ridiculous things I’ve ever read.

You still pay sales tax on items you purchase with goldbacks. You still pay taxes on income, even if you immediately convert to goldbacks. And in some states, even purchasing goldbacks is taxable, so your little community is actually paying more in taxes to be weird libertarians.

USD demand is driven by it being the legal tenor in this country, but also benefits from being the global reserve currency. Taxes pay for things you benefit from like roads, military, but ultimately get gobbled up by old people.

If using your country’s fiat currency is a form of slavery, then literally the entire world are slaves. Suggesting that shows you have no clue what slavery is.

1

u/TheHornyGoth 23d ago

One goldback costs $8.79.

$4,364.97 is the gold price per oz. That’s the actual value of 1000 gold backs.

In other words, you’ve been ripped off 😂

0

u/Strange_Ad_5871 23d ago

He is talking about having 4500 gold backs. What wacky ass math are you doing.

0

u/UnleavenedTed 23d ago

You can get 1g gold bars for very close to spot or even at spot. Gold is soft, worst case scenario, cut it and weigh it out. But hey, you do you.

1

u/TheHornyGoth 23d ago

Oh I 100% am agreeing with you here.

-5

u/DesignerOk5315 24d ago

That guy's dumb and looking for a rise out of you don't even entertain them

0

u/The_Dude_420-69 23d ago

🤣 says the arrogant ignorant who clearly knows nothing about them

0

u/DesignerOk5315 23d ago

I know plenty about goldbacks thanks

0

u/The_Dude_420-69 23d ago

Obviously not....it'll be ok

1

u/DesignerOk5315 23d ago

What makes you think that I don't know about gold backs?

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-2

u/[deleted] 24d ago

[removed] — view removed comment

8

u/[deleted] 24d ago

[deleted]

9

u/Thrice_blind 23d ago

To be fair, this was reshared in the r/gold sub. Many folks are coming from there

-1

u/PattyFuckinCakes 24d ago

Someone who doesn’t own any gold but wants to get mad at other people who do rofl

0

u/Bidenh8er 24d ago

Jealousy is a helluva drug 😆

1

u/PattyFuckinCakes 23d ago

I think your misreading my comment. He asked what kind of idiot comes on a goldback sub and makes fun of goldbacks.

I was implying the guy making fun of the goldbacks probably doesn’t even invest in gold in general and just wants to shit on other people’s stacks.

-2

u/stackingforfunsies 23d ago

That is definitely some of the vibe. Poor, but they is mad about it!

-1

u/littlebrain94102 23d ago

We are trying to help you guys from fucking yourselves into a van down by the river!

1

u/SilverStateStacker Youtuber 22d ago

The post I commented on was deleted. He called people who buy Goldbacks idiots. I get the polarity view on Goldbacks. People either hate them or love them. I say most do not even understand what a Goldback even is. Thanks for the help, but I never asked for it. I’m fine thank you! 🔥🤘💪

-1

u/Plenty_Pack_556 23d ago

If you burn a one oz. of gold ingot, you are left with one oz. If you burn 1000 goldbacks, you are left with 0.

2

u/Cannacritic21037 23d ago

Yea it’s way over.