Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m.
Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company.
Following the acquisition, Kaiser’s enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants.
“Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.”
Goldbacks are a unique form of physical gold investment—beautifully designed bills containing actual .999 fine gold (24K). Unlike traditional gold coins or bars, goldbacks offer an innovative way to both invest in precious metals and spend them in everyday transactions.
If you’re exploring precious metals investments or looking for alternative ways to store value, goldbacks deserve serious consideration. This comprehensive guide will walk you through everything you need to know about buying goldbacks, understanding their investment potential, and finding reputable dealers in your area.
In this guide, you’ll learn:
What goldbacks are and how they work
Why investors choose goldbacks (the sound money movement)
Goldbacks are physical currency containing gold foil—not gold coins or bars, but actual bills with gold embedded within them. Each bill is precisely measured and contains a specific amount of .999 fine gold (24K) layered between 2 polymer sheets. These bills are flexible and durable making them desirable for the right consumer. They’re designed for both investment and everyday spending.
Key features of goldbacks:
✓ Verified gold content — Each bill displays the exact amount and value of gold on the front ✓ Beautiful design — Created by professional artists with intricate artwork ✓ Security features — Built-in anti-counterfeiting measures on every bill ✓ Portability — Easy to store and transport compared to bars ✓ Eight denominations — Multiple options to suit different budgets ✓ Spendable — Designed for both investment and transactions
Goldback denominations (as of 2026):
Current Availability Goldbacks have significantly expanded since their 2019 launch. Currently, goldbacks are available in 10 states and 2 major cities:
States:
Utah (original series, 2019)
Nevada
New Hampshire
Wyoming
Idaho
South Dakota
Oklahoma
Florida
Arizona
Washington D.C. (city)
Washington D.C Goldbacks were supposed to be released this year but it is said that it may be delayed until 2027.
Photo taken from the GoldBack archive
Latest Additions:
California (newest state series)
Florida (newest state series)
Dallas, Texas (newest city series) 2025 – only 352,000 were produced.
California and Florida Goldbacks launch June 30th, 2026. California having a limited early release with expected shipping around July 14th, 2026.
Growth trajectory: The Goldback series continues expanding, with new states and cities gradually being added. Check with dealers for the latest availability in your area.
How Goldbacks Work: Investment & Spending
Goldbacks function differently from traditional precious metals investments. They exist in the intersection between collectible currency and store-of-value asset.
The investment model: Each goldback bill contains a specific, measurable amount of .999 fine gold. The bill itself is the container and proof of authenticity. You’re not buying paper currency—you’re buying physical gold in a portable, spendable form.
Spending goldbacks: While you cannot spend goldbacks at traditional retail stores (yet), a growing network of small businesses, online retailers, and precious metals dealers accept them as payment. This is the key differentiator from traditional gold investments: goldbacks are designed for both storage AND spending.
Why Investors Buy Goldbacks: The Sound Money Movement
Goldbacks appeal to investors who believe in the sound money movement, the philosophy that real assets like gold hold intrinsic value, unlike fiat paper currency. This is the reason why I have purchased goldbacks myself.
Sound money basics:
Fiat currency (paper money) loses value over time through inflation
Gold maintains purchasing power across decades and centuries
Sound money advocates believe precious metals should be part of a diversified portfolio
Gold provides protection against economic uncertainty
Why this matters now: During periods of economic uncertainty, inflation concerns, and currency devaluation, sound money advocates turn to precious metals as a hedge. Goldbacks offer a modern, practical way to participate in this philosophy.
The accessibility factor: Traditional gold bars are valuable but not practical for everyday transactions. Goldbacks bridge this gap where they’re small enough to use for everyday purchases but represent real, measurable gold value.
Goldbacks Pros & Cons
Like any investment, goldbacks have advantages and disadvantages. Here’s what you need to know:
Pros of Buying Goldbacks
Inflation hedge — Gold has historically protected against inflation. As the dollar weakens, gold value typically increases.
Spendable form — Unlike bars, goldbacks can be spent at businesses that accept them, offering flexibility traditional gold investments lack.
Collectibility — Certain bills and state series may become collectible, potentially increasing value beyond gold content.
Privacy — Direct, personal transactions without bank involvement or government tracking.
Physical tangibility — Unlike digital assets, goldbacks are physical, verifiable, and in your hands.
Portability — Easy to store, transport, and hide compared to gold bars.
Beauty and design — The artistic quality makes goldbacks appealing to collectors and investors alike.
Cons of Buying Goldbacks
Limited liquidity — Finding buyers for goldbacks can be challenging. Unlike established coins, the resale market is still developing.
Price volatility — Goldback value is tied directly to gold spot prices, which fluctuate daily.
Storage requirements — Proper storage protects against damage and loss. Poor storage can reduce value.
Premium pricing — You’ll pay more than the raw gold value. Production costs create a premium above spot price similar to numismatic coins.
Limited acceptance — Currently, few businesses accept goldbacks as payment. This is changing but remains a limiting factor.
Market uncertainty — Goldbacks are still relatively new (launched 2019). Long-term adoption is unknown. Just like silver rounds. But that’s a different topic.
How to Buy Goldbacks: Step-by-Step Guide
Ready to purchase goldbacks? Here’s the process:
Step 1: Research Your Options
Before buying, understand what you’re getting. Research these bullets:
Current goldback series available in your state
Gold content per denomination
Current spot gold prices
Available retailers and dealers
Step 2: Find a Reputable Dealer
This is critical. Work with established, verified precious metals dealers who:
Finding a trustworthy dealer is a bit of journey. We all think we can just walk up to a store that claims they are gold dealers or coin dealers BUT we need to make sure that we vetting them first. Ask the right questions and know a bit about the business before walking in.
When purchasing goldbacks, work with established precious metals dealers who have:
Verified business history (check years in business)
Positive customer reviews and reputation
Clear pricing transparency
Expert knowledge about goldbacks
Authentication verification
Local availability (if preferred)
VictoriasCoin: Your Dealer Directory
VictoriasCoin maintains a curated, verified directory of precious metals dealers across the United States. Many of our listed dealers specialize in gold, silver, and coin dealers. Not all dealers sell goldbacks but may be more accepting of purchasing it from you so it’s important to call beforehand. Here are a few things to do before you make your move:
Answer questions about authenticity
Discuss goldback investment strategies
Compare pricing across denominations
Explain state-specific series
Help with storage recommendations
Is Buying Goldbacks Worth It? Final Thoughts
Whether goldbacks are a good investment depends on your financial goals, risk tolerance, and belief in sound money principles.
Goldbacks make sense if you:
Believe in sound money and precious metals as a hedge
Want a spendable form of gold
Appreciate the collectibility and design
Can afford the premium above spot prices
Understand the market is still developing
Have a long-term investment horizon
Consider alternatives if:
You need maximum liquidity (gold bars/coins may be better)
You can’t afford premiums above spot price
You need to spend your investment frequently
You prefer established, widely-accepted precious metals
The bottom line: Goldbacks represent an innovative way to invest in gold while maintaining the ability to spend it. While still relatively new, growing merchant acceptance and collector interest suggest goldbacks will play an increasing role in the precious metals market. I hope this
Get Started: Find Goldback Dealers Today
If you’re ready to explore goldback investing, the first step is finding a knowledgeable, reputable dealer who can guide you through the process.
VictoriasCoin – National Gold & Silver Dealer directory features verified precious metals dealers across the U.S. Many specialize in gold and silver and can answer your questions about authenticity, pricing, state series, and investment strategy for goldbacks. Give your local dealer a call or schedule an appointment.
Looking for an online solution, find goldbacks at trusted retailers like Money Metals Exchange.
*Disclosure: VictoriasCoin may earn affiliate commissions from Money Metals Exchange and other dealer partnerships at no additional cost to you. This helps support our work creating this directory.*
Renowned economist and gold advocate Peter Schiff has issued a bold new call: silver is about to break out – and fast. In a tweet posted earlier today, Schiff highlighted that silver has outperformed gold for two consecutive days, closing at $33.40 and touching an intraday high of $33.50.
“Silver is the most underpriced hard asset on the planet. While gold protects wealth, silver could build it during the next financial reset.”
“U.S. dollar and Treasury yields are lower, which is helping gold catch a bit of support… The overall uptrend remains intact and the path of least resistance favours the upside,” said Ilya Spivak, head of global macro at Tastylive.
“Prices have been stable in a range between about 2,830 and 2,960 for the past four weeks… We would need to see a convincing break above or below these boundaries to conclude that some sort of lasting directional move is resuming.”
Spot silver added 0.3% to $32.19 an ounce, platinum was steady at $957.89 and palladium lost 0.3% to $940.47.
Barrick Gold (NYSE:GOLD) said Monday it plans to change its name to Barrick Mining, subject to shareholder approval at its upcoming annual meeting on May 6.
The company expects to change its NYSE ticker symbol from GOLD to B, effective at the start of trading on May 9; Barrick (NYSE:GOLD) common shares will continue to trade under the ABX symbol on the Toronto Stock Exchange.
If the United States Mint moves forward with plans to produce a 24-karat gold Sacagawea dollar on the 25th anniversary of the series in 2025, it will be the first time the issue is produced in .9999 fine gold.
The bureau is considering producing the gold dollars at the West Point Mint with the facility’s W Mint mark. Bureau officials have not disclosed what finish would be used for the 25th anniversary gold dollars nor any mintage limit.
The proposed 25th anniversary Sacagawea gold dollar will feature the designs that appeared on coins released into general circulation in January 2000, bearing the so-called “13 tail feathers,” with the same inscriptions as originally featured on the 2000 coins, with no mention of gold weight or fineness.
The platinum jewellery market decline now appears to have stabilised, with year-on-year growth of 5% estimated for 2024 and 2% year-on-year growth forecast for this year, when total platinum jewellery demand is expected to reach 1.98-million ounces, the organisation points out.
PGI points out that in most markets, platinum jewellery is 950 parts per thousand, compared with 18 ct gold which is 750.
