Silver price (XAG/USD) retraces its recent gains from the previous session, trading around $29.80 per barrel during the Asian hours on Wednesday.
People’s Bank of China (PBOC) Governor Pan Gongsheng stated on Monday that “interest rate and reserve requirement ratio (RRR) tools will be utilized to maintain ample liquidity.” Gongsheng reaffirmed China’s plans to increase the fiscal deficit and emphasized that China will continue to be a driving force for the global economy.
What are goldbacks? Well I’m happy you stumbled upon my blog to learn more about this amazing and innovative way to pay for goods and services with actual gold.
This isn’t paying with gold coins or bars but actually paying with gold bills. These bills contain gold within them and are measured on the bills itself. Gold foil if you will.
These bills are gold and have the amount of gold listed on the front of each bill from 1/2000th of a troy ounce to 1/10th of .999 fine gold (24k gold). They are beautifully decorated with art work from the Goldback artists and an added combination of anticounterfeiting features within each bill.
There are currently (as of 2025) 6 states with representation on these bills. Those states include Utah, Nevada, New Hampshire, Wyoming, South Dakota, and Florida. Florida is the newest goldback series for this year. The bills start at 1/2, 1, 2, 5, 10, 25, 50, and 100 gold bills.
I do not yet have any of the Florida or South Dakota goldbacks but I’m in the process of purchasing and I really can’t wait to have them.
As of this posting, Oklahoma will be available for preorder Aug. 1st, 2025 at various online sellers. If you’re lucky to find a vendor who is actually selling the goldbacks in person, pick them up! That’s how I learned about these, from a seller at a coin show.
Well that’s a great question! Some could argue that getting these bills is not worth purchasing because you can’t spend these anywhere you want. Or, why are you buying such a small amount of gold when you can get gold bars for a much higher trade in value?
These bills are apart of the sound money movement. Sound money means it recognizes the value in gold and silver not paper fiat. Which is basically saying that paper money does not hold value like gold. For many investors, this is a real concern and is why this movement is a big deal during these economic times.
So why should you buy goldbacks? Goldbacks, like gold, retain their value and give you more purchasing power. While these have a very small amount of gold on each bill the form factor makes it easy to use your gold for everyday purchases.
On their website they say that goldbacks are “The currency for now, Currency for the future.” I for one am very into the idea of this being a great way to use my gold for purchases and my currency. Unfortunately, this cannot be used anywhere……Yet!
Pros and Cons of Goldbacks
As you just read, you cannot use these anywhere. Which is the biggest con but only for now. But they is much more to it than just spending.
The pros:
Hedge against inflation – as gold has been known to be a safe haven against inflation
Spendable – can be spent at small businesses that accept goldbacks
Collectability – certain bills could be collectable
Privacy – allows you to spend at your own leisure and without banks
Substantial – Goldbacks are real they are physical and unlike digital currency this is in hand
The cons :
Liquidity – this product my be hard to find buyers
Volatility – this is tied to the gold prices and will
Storage – if this product will need to be taken care of properly to avoid loss or damage
Higher premiums – you will pay more than the gold value because of the cost of production to make these bills.
I feel that the pros outweigh the cons as the pros are more valuable when it comes to owning these bills. Storage and higher premiums are not that big of a deal to me. I wouldn’t not take care of my investments and I expect to pay a certain price when buying from someone anyway. Just like silver rounds. But that’s a different topic.
Are Goldbacks worth it?
In my opinion, I will not tell you to go and do something unless you feel it’s the right option for you. I believe it is worth it for those that appreciate all forms of gold and ways to spend their investments in person and upfront. This might also be right up your ally to collect these bills as they are absolutely beautiful and stunning to look at and hold in your hand
These goldbacks are still very new. They just started in 2019. I think that this will go a long way but we don’t know how long these will last. There are more and more small businesses that are accepting these as payment and that’s a good sign.
I will continue to purchase these and add to my portfolio and, as I said in previous posts, would actually use these if ever I needed or had the opportunity to do so. Even with some cons to these bills they won’t stop me or many others who are currently investing.
Make sure to do more research if you’re on the fence. Talk to dealers, get some reviews, and look up the website for more info here.
*Disclaimer: I have not received any payment, products, services, or other compensation for discussing this topic. My comments reflect my personal views only.*
Physically backed gold exchange-traded funds (ETFs) registered the largest quarterly inflow in three years in January-March, 2025, data from the World Gold Council (WGC) showed on Tuesday.
Investors seeking shelter from political and economic volatility were moving into gold ETFs, which store bullion for investors, in the first quarter.
Gold ETFs saw an inflow of 226.5 metric tons worth $21.1 billion in the first quarter, the largest amount since the first quarter of 2022, when global markets were grappling with the immediate consequences of Russia’s invasion of Ukraine.
Stealth Fed Dollar Crisis Predicted To Spark A Bitcoin Price Boom To Rival Gold
“Current inflation measures, such as consumer price index (CPI) and producer price index (PPI), are significantly lower than previous 40-year highs. However, they remain ‘stubborn’ or ‘sticky,’ resisting a return to the central bank’s preferred 2% target,” Fidelity Digital Assets research director Chris Kuiper wrote in a report that asked: “Why is no one talking about stagflation?”—defined as a combination of low economic growth and persistently high inflation.
Meet the Ultrathin Conductor Set to Replace Copper in Advanced Electronics
“We are breaking a fundamental bottleneck of traditional materials like copper,” said Asir Intisar Khan, who received his doctorate from Stanford and is now a visiting postdoctoral scholar and first author on the paper. “Our niobium phosphide conductors show that it’s possible to send faster, more efficient signals through ultrathin wires. This could improve the energy efficiency of future chips, and even small gains add up when many chips are used, such as in the massive data centers that store and process information today.”
True North Copper Secures $53.44 Million in Capital Raising, Prepares for ASX Reinstatement
This move facilitates the company’s reinstatement of its securities to official quotation, following a consolidation of its issued capital and the settlement of various creditor liabilities.
These financial maneuvers are expected to strengthen True North’s operational foundation and strategic positioning in the mining sector.
Gold prices are “not even that far away from all-time highs, so the upward momentum is there, we just need some kind of trigger to get it going,” Blue Line Futures chief market strategist Phillip Streible said.
Front-month Comex gold (XAUUSD:CUR) for January delivery settled +1.1% to $2,766.80/oz, gold’s 11th gain in 15 sessions, and front-month January silver (XAGUSD:CUR) closed +1.5% to $30.727/oz.
“Bitcoin disrupted global finance just a decade ago, now, silver is emerging as the next keystone of global transformation—poised to reshape industries, currencies and geopolitics.”
“With reserves projected to run out in just 20 years, Plume predicts silver’s price could surpass $60 per ounce.”
According to Plume, nonsourced calculations are “showing the U.S. would need over 3.5 billion ounces [109,375 tons] of silver to transition to 100 percent solar power.” The writer and his publisher say this ties into “how China’s dominance in silver production threatens U.S. strategic interests.”
First Quantum decision suggests movement to resolve investor dispute with Central American government
Canada’s First Quantum Minerals on Monday said it was stepping back from a multibillion-dollar arbitration demand against Panama’s government over the closing of one of the world’s largest copper mines.
