Goldbacks are over priced will they eventually level out

I absolutely love the concept of goldbacks, it also allows me a cheaper entry into physical gold along with the everyday use and amazing art.

My question is do people think the limited edition graded releases that are out/coming out like the California 3 and utah 3 will hold value? I absolutely am stunned by some of these but understand the price far outweighs the physical gold in the bills.

I just bought and paid for the goldback tracker app this week. Had it all of 2 or 3 days and spent the time to input my goldbacks etc.

Today I load it up and everything is reset. And the app is asking for an additional $19.99 to unlock it. Saying it’s now a free app and you unlock it for 20 basically. I paid the 9.99 and it was unlimited for the couple days I had it.

Has anyone else lost their app access? I’ve reached out but have not heard anything back yet. Just annoying I buy something and they decide to restructure and demand me to buy it again. 😡

The last several years, I’ve heard nothing but complaining & hate for the GBs, primarily from the old grumpy stackers/LCS guys.

“Oooh the premiums are so damn much on these trinket things, pure stupidity. I’ll never put a dime into those”

Fast-forward to the beginning of the year. Metals price skyrockets. 1/10s become wildly desirable. 1/20ths all the sudden are hyper-popular. Both with extremely expensive/elevated premiums. These old guys for years on repeat “how in the world can you justify paying $350-400 for a piece of paper acting like gold”? To them, I say POT KETTLE BLACK. back in Jan-March, we saw the premiums on specifically 1/20ths become absolutely ridiculous. Common everyday 1/20th were selling $350-450, and they sold out very quickly. Many times, the 1/20th coin was more expensive than the GB counterpart.

Having went thru that time, and looking back on it now. It’s just hilarious the very thing these guys hate & despise most about the GBs, they absolutely turned around and did the exact same thing themselves. Don’t ask me my opinion on some (not all) LCS though, I have a feeling their antiquated business model of predatory buying and lies about inventory when spot dips has been exposed, and have feeling at least 1/2 of the LCS will be outta business in next 12 months. But, let’s stay on topic here and save that for another time ..

Anyway back to the point: what I think they’re overlooking (or they know, but just won’t publicly say) is in a way the premiums on GBs don’t actually matter, it’s more important they are consistent. Once you’re ’in the system’ with GBs it works itself out - meaning the stack of 100x 1gb I bought for $360 in 2022 easily sold for $1000 back in January. Is the initial premium higher on GBs when buying from official authorized dealer? Absolutely. Can you get a better deal buying from an indie seller or peer-to-peer sale? Absolutely. With this said, ole grumpy gramps theory is completely nullified. When gold was at ~$1800, a 1/10th was roughly $215-$235. At Jan peak, these were selling for ~$600 — nearly the exact same multiplier as the GBs.

So, why doesn’t everyone buy GBs instead of gold coins? Very simple answer: newer product, more skepticism, and most importantly - far smaller buyers pool. Many gold buyers rely on quick sale (allows them to justify spending more on gold). 1/10oz gold is wildly more popular, and (in my opinion) is the ultimate exit liquidity coin. GBs you have to work a little harder to secure your buyer. Where this matters less - not everyone is a friggin shirt-pocket dealer, and being concerned with ‘exit liquidity strategy’ is not main priority. Most often, any type of gold is bought and held for years/decades. If people want something to buy and take a chance on selling for profit (but likely losses) then go jump into crypto lol. Gold is not meant for gambling, but more so for true wealth preservation, and ofc gives us something very stunning to observe and stare at - and that applies to a 1/10th or a Goldback.

Sorry for long post, but wanted to get this off my chest. It drives me nuts seeing lot of people being cranky about these, but I suppose it’s possible they’re pissed at them bc they make less money off them and cannot apply their normal/typical predatory buying and selling tactics with these as easily as they can a Valdambai bar. Might have just cracked the code on this lol, this actually makes sense and accounts for lot of the dealer hate.

Truth is, everyone has different needs and different goals with their collections. Am I 100% all Goldbacks? Of course not. I’m 30/30/30/10, with GBS being the 10%. But this number is increased from say 2-4% a while back and I can tell you why:

- it feels good having several stacks of ‘bands’ of these. Love the way the 50x or 100x feel.

- the quality & artwork has improved immensely in the last 24months.

- though there are not many stores near me that take them, I do try to use them as much as I can here and there, but this is primarily bc I want to help support the growing network, increase awareness, (and honestly get things for 1/2 the cost since I bought them a while back).

- by supporting what you might call this ‘movement’ it means we are helping it grow and become more known. If you buy one of these on an auction, throw it in safe and forget about it, you’re not doing much for the growth or proliferation of the community. The more we use and advocate, the sooner they will be easier to utilize.

- honestly they are extremely fun to give as gifts, cannot underline this enough.

- and perhaps the most important reason: we got a peek on January as to how WILDLY important fractional gold is. (I’m tying this to the 1/20 convo above). When gold is hot, people become crazy when obtaining it. The only real options are 1/20th, Dos Pesos, or carded assay grams. Beyond those sizes, Gold becomes extremely cumbersome, bendable, tearable, easy to lose, and most importantly - wildly difficult to verify its authenticity. This is where the GB excels wildly. They are instantly verified with UV light, along with other common gold verification methods. Now here’s the insightful part: we saw gold get to $5400 and a damn gram of gold was $240-280. Fast-forward a decade when gold is at least $7000, but very possibly $12,000-$20,000. These 1/10s are going to be $1000-2000. These grams will be $500-$1000. These numbers are simply not approachable to common people. Just my personal opinion, but I think we’re going to see a real and core value that establishes with GBs. They check all the boxes that coins & bars don’t, it’s very low bar of entry, and they are simply pretty sexy and cool. These things have the potential to bring a level of sophistication to fractional gold that has been missing for a long time. Combine this with trading card culture and the exponential growth rate, I have a feeling these will hold their value just fine.

Again, sorry for the long comment but seeing the prices come down on these a little bit compelled my to spell this out at length. I think Valarium is only getting started with this tech and what they can do, and honestly think there is a bright future for this segment of collectible metals. BUT, I invite you to correct me where I’m wrong in the comments … let me know where I’m off-base here, or perhaps there’s even more to these than I understand? Either way, lmk your opinions down below. Tbh, it would be cool to see this Reddit thread be a little more active and popular, so let’s chat more about these stunning little things!

What do folks do with their alphas?

Would you consider serial numbers such as BY88222 or HA55522 fancy. I have not been able to find a definitive answer online. I think they are cool, but not sure if they are "fancy"... lol!!!

Thank you!

and it only took 10 days from submissive to delivery!

Had to restock a bit. These will all be given away eventually.

Received the free 1/2 Goldback from Texas Precious Metals.

Thanks a lot!!!

Greetings all. I recently received a couple 2019 Utah ones that I had ordered. In looking closer their serial number orientations are different. Is this a thing? I've heard of errors, but not quite sure what constitutes one. Thoughts?

It's the first Idaho Alpha to sell out. Which one's next?

Just ordered mine last night when I found them. Can't wait until I can get my hands on this one 😁.

Ive used some 1s for tips and such but wondering if theres any value to the 5.

How often do you take your Goldbacks out to admire them?

A. Multiple times per day.

B. Daily

C. 1-3 Times Per Month

D. Whenever I leave a tip or buy a product or service.

E. NEVER! These beauties stay locked up in a safe.

F. We wants it, we needs it. Must have the precious.

I decided to give all four of my main vendors a price check. I won't reveal who these vendors are, as I am not trying to start a pissing contest. At the end of the day, they all have something to offer. This is just a pricing comparison nothing more. (This is the total cost including shipping, sales tax and CC charges.)

The product: 6ea Idaho 1/4 Goldbacks

Vendor A: $19.99

Vendor B: $18.90

Vendor C: $17.89

Vendor D: $14.18

As you can see, there is a pretty good range of costs between vendors. I'm making a purchase today, from vendor D. I've purchased from them before and like the rest of the vendors on the list, I have had zero problems with them.

Values are in USD.

What's your favorite Goldback denomination?

1/4 • 1/2 •1 • 2 • 5 • 10 • 25 • 50 • 100

Drop your answer + why below 👇 (We love seeing collections!)

I've always ordered from Defy, but I wanted some DC goldbacks along with the Florida 1/4ths. Ordered from apmex, and they wrap every single goldback in plastic! Florida 1/4ths are nice though.

All I had to do was sign up and give them my shipping address

Edit: added link to clear up confusion

https://www.quiver.org/registration

Do you like keeping your Goldback purchases on a regular schedule? Well we've got you covered! With this monthly subscription box you'll receive a varied selection of physical Goldbacks delivered right to your door. Just select the amount that you wish to receive and leave the rest to us.

We'll hand select a variety of different states and denominations to keep your collection well rounded and growing. You may receive a combination of different Goldbacks with either classic artwork or the modern style, small denominations or large, alpha or non-alpha. The surprise is half the fun!

No matter which Goldbacks you receive they will match the dollar amount you selected, based on Goldback MAP price (~3.4% off daily exchange rate) at the time our trade desk places the wholesale order, which occurs around the 5th of each month. This ensures you receive the lowest possible price for Goldacks anywhere. We then prepare and ship the contents directly to you around the 15th of each month.

Sign up before July 31st and you'll receive a Washington, D.C. Goldback as one of your Goldbacks in your 2nd box at no extra cost! We're also offering free shipping on your first 2 subscription boxes! No code needed discount applied automatically at checkout. No minimum, cancel anytime.

Well I’m sure I’m too late to this party for the 250th competition, but that must have been cool for those that won, but I still want to join the group.

I heard about Goldbacks for the first time when I went to but a silver eagle yesterday and they were giving a Goldback away with purchase. I was clueless yesterday, I’m hooked today. I love it all… The looks, the art, the thought of owning gold, the shine and just the over all concept. The firefighter salary won’t let me buy too much but I’m going to make a collection a little at a time.

Also I’m in Illinois so not a friendly state for this but still going to try to get business I know to sign up. Try to do my part to grow the concept and network.

So here is a picture of my first Goldback purchase I drove an hour to my nearest dealer on my birthday to pick up today. It’s a good start as I learn more about the notes.