First 24k Gold Currency
The Utah Goldback is the first local, voluntary currency to be made of a spendable, beautiful, physical 24k gold, available in gold notes of 1, 5, 10, 25, and 50 denominations. Unlike most gold products like coins, the Goldback is designed to be used as a currency with interchangeable denominations rather than varying premiums based on gold content. For example, the American Eagle gold coins are not interchangeable due the premiums placed on smaller denominations. Case in point, ten 1/10th ounce American Eagles do not equal one 1-ounce American Eagle. Goldbacks, on the other hand, are interchangeable. Fifty 1 Goldback equals a 50 Goldback.
Goldbacks was launched in Utah with the vision of re-introducing gold as a form of daily spending in normal commerce. Today in Utah hundreds of stores already accept Goldbacks for goods and services, and more and more stores and people are adding themselves to the growing network… and now, Finest Known has a large selection of Goldbacks, available for purchase.
Transactional Gold Bills
Goldbacks theoretically could be spent, bartered with, and traded anywhere around the world. They contain precise amounts of actual 24k gold which has and remains liquid almost anywhere and has for at least 2,600 years. It is widely known that major currencies today are indeed “fiat” currencies with an ever-increasing supply made out of thin air. The simple fact of the matter is that today’s fiat currencies are designed to be debased. Each time dark economic clouds gather; governments authorize the creation of money out of thin air as seen with the current crisis.
Goldbacks use proprietary technology to mint gold into usable forms for small to large transactions. A 1 Goldback note is currently the world’s only true way to own 1/1000th oz physical gold in a single unit. 1,000 Goldbacks of any denomination add up to be one ounce of gold. Each denomination carries the same premium as any other making the Goldback a very useful currency tool.
% Troy Ounce 24K Gold
• 1 Goldback = 1/1000th Ounce
• 5 Goldback = 1/200th Ounce
• 10 Goldback = 1/100th Ounce
• 25 Goldback = 1/40th Ounce
• 50 Goldback = 1/20th Ounce