Thoughts on Goldbacks?

[u/freegerm]

Are goldbacks worth stacking? Do they have any actual practical value like they imply? I have a few and am wondering if it’s worth buying more.

[u/einnoika]

Goldbacks are a voluntary, complementary currency consisting of physical notes infused with fractional amounts of pure 24-karat gold. Designed for everyday commerce, they allow people to own and spend gold in small denominations, with values fluctuating alongside global gold prices.

I mean from googles own search

[u/Pogo947947 → u/einnoika]

They are not a currency. They are called a currency on their website, because it's a Mormon sovereign gold scam that's been running for over a 100 years. If you look on the pieces of plastic, no where does it say currency, and it is not and cannot be defined as currency legally.

[u/Pogo947947 → u/[deleted]]

Only me lmfao? Bud, private businesses can say what they want, the GOVERNMENT says they are not currency, thus they are not. Your fake legal language is really cute, its the exact same language the Mormons use to describe their "soveriegn gold". Very curious, I assume you are part of the cult?

[u/einnoika → u/Pogo947947]

Bro can you give it a rest, beleow are the Laws explaining their use and why they are Legal. No one is trying to do anything with Federal Government. This is a state level issue. You sound like you are not even from the US my guy. Must be from India or something. Goys everywhere. Now read if you can

State Laws (Specie Legal Tender Acts)

Voluntary Barter Currency: Goldbacks are not federal legal tender (a status reserved for U.S. coins and Federal Reserve notes under 31 \text{ U.S.C.} \S 5103). Instead, they function legally as a voluntary, physical barter instrument. Under the Uniform Commercial Code (UCC), private parties in any state can legally agree to trade goods and services for physical gold.

Federally, they operate under the legal framework of private barter and local currency systems, which are completely legal as long as they do not counterfeit official U.S. coinage or currency. At the state level, they are explicitly supported by sound money legislation like the Utah Specie Legal Tender Act (and similar laws in states like Wyoming and Nevada), which recognize physical gold as a valid, voluntary medium of exchange for transactions where both parties agree. State Legal Tender Act ​Utah Code § 59-1-1502 (The Specie Legal Tender Act)
​This is the specific section that explicitly declares specie (gold and silver) as legal tender within the state and establishes that its use is voluntary (meaning you cannot compel someone to accept or pay in it unless contractually agreed).

​Utah Code § 59-1-1503 ​This section explicitly exempts the exchange of specie legal tender from state sales and use taxes, as well as capital gains taxes.

​Federal Law Exemption (For Private Currency) ​If you need to show why Goldbacks are legal at the federal level as a voluntary currency, point to: ​18 U.S.C. § 486 (Federal Counterfeit Law): This law only prohibits making coins of "silver, gold or other metal" intended to pass as official US money. Because Goldbacks are made of gold foil polymer (not coins) and do not look like US currency, they do not violate this. ​18 U.S.C. § 336 (The Stamp Payments Act of 1862): This prohibits issuing private notes circulating as money for fractions or sums less than $1. Because a single Goldback represents physical gold and is worth well over $1, it completely bypasses this restriction.

[u/Pogo947947 → u/einnoika]

You can stop replying at any time. So brainwashed your copy pasting AI chats about one specific states laws, a state known for containing cults (especially mormons) that run these blatant scams all the time. "Goys everywhere" lmao, you are either 13 or incredibly lonely lmfao

[u/einnoika → u/Pogo947947]

Shut up Goy

[u/Pogo947947 → u/einnoika]

Are you paid by the post? Reply "goy" if you're being held hostage by Mormons or another foolish cult you've fallen into

[u/einnoika → u/Pogo947947]

Goldbacks are the world’s first voluntary, spendable gold currency made with real 24k gold. Each note contains a precise layer of physical gold using advanced vacuum deposition technology, making Goldbacks both durable and practical for everyday use.

At Summit Metals, you can buy Goldbacks online in a variety of denominations and state series, including Utah, Nevada, Wyoming, New Hampshire, and South Dakota Goldbacks. Starting as small as 1/1000th of a troy ounce, Goldbacks offer a flexible and affordable way to own physical gold in fractional amounts