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303:. In order to avoid issues with Federal counterfeit laws, each Goldback is printed with statements such as, "Voluntary negotiable instrument" and "For circulation in Utah", "For circulation in New Hampshire", or "For circulation" specific to whichever state the particular Goldback in question was 'printed' for. Also, the text "Privately Issued, Not U.S. Dollar Legal Tender. US & International Patents Pending" appears on each Goldback (of all denominations).
176:, a private mint. Valaurum uses a vacuum deposition process to fuse gold together into thin sheets encased in a plastic film designed to hold the gold. More than US$ 20 million worth of Goldbacks have been manufactured and circulated, although an up-to-date market cap is not published. While it is sold as a "local currency" (see below) only in five regions, they have been more broadly purchased as a gold product or for their collector's value.
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expanded the definition of gold for legal tender—explicitly making gold with a "polymer holder" or "coating" is not subject to the state sales tax—specifically any metal that, "...has a gold, silver, or platinum metallic content of 50% or more, exclusive of any transparent polymer holder, coating, or
171:
gold. The gold is contained between two layers of clear polyester, which add artistic elements to the fractional gold bullion they contain. The term "Goldback" refers to each unit of the currency and is 1/1000 of an ounce of pure gold. The
Goldbacks are issued in "denominations" of 1, 5, 10, 25, and
270:
The Utah series depicts the virtues of
Liberty, Victory, Justice, Truth, and Prudence. The Nevada series depicts the virtues of Liberty, Fortitude, Justice, Wisdom, and Charity, while the New Hampshire series depicts the virtues of Liberty, Fortitude, Foresight, Truth, and Grace (or Gratitude). The
267:. Which virtues are represented and how they are represented varies according to the state series and region it serves. While each series is different in design, they are all interchangeable and contain the same amount of gold.
271:
Wyoming series depicts
Liberty, Loyalty, Trust, Boldness, and Reverence. The South Dakota series features Liberty, Honor, Harmony, Industry, and Peace. All five Series also feature animals and plants native to the states.
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encasement..." The first
Goldbacks were made for Utah, partly as a result of the legalization of gold and silver as legal tender in Utah in 2011 as part of the
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The company behind the
Goldback built in features to ensure that Goldbacks cannot be confused with government issued legal tender, such as the
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in New
Hampshire, widespread use has been reported of people spending Goldbacks on various goods and services within the state.
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Some commentators have stated that one potential downside of the
Goldback is the premium that each Goldback costs over the
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The
Goldback has not been formally adopted by any state government and is privately issued. In Utah, the
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of gold embedded within each note. Currently the premium to the gold price is around 100%.
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557:"Goldbacks, world's first currency with pure gold in its bills (and its spendable)"
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50, each containing proportionally larger amounts of gold. The notes are minted by
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527:"Life, Liberty and the Pursuit of New Hampshire: An NBC10 Boston Original"
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in 2019. Goldbacks contain a thin layer of gold within a polymer coating.
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With inflation, gold notes and cards find their way into
America's wallet
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A "We accept the
Goldback" sticker on a point-of-sale machine in Utah
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663:"Oregon entrepreneur aims to create a new way of trading with gold"
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Stoll, Shira; King, Alison; Ferrigan, Dan (February 20, 2023).
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Each Goldback features a figure, symbolically representing a
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Goldbacks are shaped like regular currency notes but contain
443:"Local 'Goldback' currency gaining traction during pandemic"
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Front side of a single (one) New Hampshire edition Goldback
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Back side of a single (one) New Hampshire edition Goldback
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The Utah goldback was launched in 2019, with series for
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launched in 2020, 2021, 2022, and 2023 respectively.
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325:List of community currencies in the United States
386:"The Goldback: An Alternative to Fiat Currency?"
251:In association with members of the libertarian
581:Brammer, Rep. Brady; Bramble, Sen. Curtis S.
16:24k gold private currency called a 'Goldback'
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413:"There are places where gold is paid today"
583:"H.B. 268 Sales and Income Tax Amendments"
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278:The first series of Utah Goldbacks 2019
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732:Local currencies of the United States
137:1 troy ounce of gold = 1000 goldbacks
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615:. United Precious Metals Association
609:"United Precious Metals Association"
411:White, Patrick (October 12, 2020).
155:and launched by Goldback, Inc. in
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500:"A Brief History of the Goldback"
384:Gozenput, Eric (August 7, 2020).
340:Liberty dollar (private currency)
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555:Sharma, Neha (August 27, 2020).
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65:Private use in the United States
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722:Currencies introduced in 2019
33:Goldback logo used as of 2023
669:. Oregon Public Broadcasting
468:Moore, Kim (June 23, 2020).
727:2019 establishments in Utah
636:"First Substitute H.B. 317"
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661:Foden-Vencil, Kristian.
642:. Utah State Legislature
589:. Utah State Legislature
289:Utah State Legislature
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345:Utah Legal Tender Act
294:Utah Legal Tender Act
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301:United States dollar
52: or Goldback
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717:Private currencies
561:luxurylaunches.com
474:oregonbusiness.com
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253:Free State Project
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476:. Oregon Business
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671:. Retrieved
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591:. Retrieved
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564:. Retrieved
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537:February 25,
535:. Retrieved
533:. NBC Boston
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508:. Retrieved
504:goldback.com
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478:. Retrieved
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394:. Retrieved
392:. Value Walk
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225:Reported use
193:South Dakota
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57:Demographics
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701:Numismatics
667:www.opb.org
640:le.utah.gov
587:le.utah.gov
506:. Goldback®
470:"Gold Rush"
447:www.ksl.com
153:U.S. states
133:Pegged with
711:Categories
449:. KSL 5 TV
351:References
335:Fiat money
313:spot price
673:March 19,
646:March 17,
619:March 18,
510:March 17,
453:March 18,
417:vezess.hu
307:Criticism
127:Valuation
613:upma.org
593:April 3,
419:. Vezess
319:See also
238:KSL 5 TV
174:Valaurum
163:Overview
145:Goldback
118:valaurum
106:Valaurum
92:goldback
70:Issuance
22:Goldback
566:May 20,
480:May 18,
423:May 18,
396:May 18,
189:Wyoming
62:User(s)
687:Portal
259:Design
240:, the
191:, and
181:Nevada
45:Symbol
675:2022
648:2022
621:2022
595:2022
568:2022
539:2023
512:2022
482:2022
455:2022
425:2022
398:2022
157:Utah
143:The
120:.com
102:Mint
94:.com
39:Unit
242:NBC
169:24K
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
