Goldbacks

What Are Goldbacks?

Goldbacks are a physical, interchangeable gold currency that can be used as real money from small to large transactions. Investors and collectors buy Goldbacks because they are spendable, physical 24k gold bills, each with beautifully unique designs, available in five denominations.

As the first local, voluntary currency, Utah Goldbacks were a huge success, with hundreds of stores accepting Goldbacks for goods and services. The Nevada Goldbacks and Wyoming Goldbacks were the subsequent releases in the United States series, with many new states adopting the Goldback standard.

Each Goldback contains precise amounts of .999 fine gold with five denominations: 1 Goldback contains 1/1000th ounces of gold, 5 Goldbacks has 1/200th ounces, 10 Goldback 1/100th ounces, 25 Goldback 1/40th ounces, and the 50 Goldback with 1/20th of an ounce of gold.

Utah Goldbacks

Utah Goldbacks was the very first local, voluntary currency, made of beautiful, spendable, .999 fine physical gold that vendors can choose to accept for transactions. In 2011, the Utah Legal Tender Act was passed, recognizing gold as currency. In late 2019, the Utah Goldback series came to the market. Goldbacks are an innovative way to own a tangible gold asset at an affordable price. Utah Goldbacks come in five denominations containing precise amounts of pure .999 gold, each with unique designs reflecting Utah’s rich history. 

1 - Prudentiae (Prudence): Contains 1/1000th oz. of gold and features a Native American representation of Prudence. The five Native American tribes in Utah: the Ute, Paiute, Goshute, Shoshone, and the Navajo.

5 - Veritas (Truth): Contains 1/200th oz. of gold and features a female Utah pioneer representing Truth, nodding to the great migration that the first settlers of Utah took part in to arrive in the Salt Lake Valley in 1847.

10 - Justitia (Justice): Contains 1/100th oz. of gold and features Justice casting in the southern region of Utah, with Balancing Rock and the iconic red cliffs in the background. 

25 - Victoria (Victory): Contains 1/40th oz. of gold and features a symbolic Victory allegory represented by a suffragette, celebrating the victory for women’s voting rights. 

50 - Liberty (Libertas): Contains 1/20th oz. of gold and features Lady Liberty,

Nevada Goldbacks

Nevada Goldbacks is the second issue in the U.S. Goldback series, released in 2020, with designs depicting the heritage and history of the state. Nevada Goldbacks come in 5 denominations, with five designs, each containing  .999 fine 24k gold.

1 - Caritas (Charity): Contains 1/1000th oz. of gold and depicts Mary, the mother of Jesus, in St. Augustine’s Catholic Church in Austin, Nevada. Catholicism is Nevada’s most dominant religion and St. Augustine’s is the oldest Catholic Church building in Nevada. 

5 - Sophia (Wisdom): Contains 1/200th oz. of gold and features Athena as Wisdom. Sophia represents divine inspiration and progress and is found surrounded by numerous Nevada-specific symbols, inventions, technologies, and bastions of wisdom. 

10 - Justitia (Justice): Contains 1/100th oz. of gold and features Justice. She wears a veil and watches over the Wild West, letting all those who break the law know that Justice sees all.

25 - Fortitudine (Fortitude): Contains 1/40th oz. of gold. Patterned after the Greek winged goddess of victory, sounding the first trumpet of Triumph. 

50 - Liberty (Libertas): Contains 1/20th oz. of gold. Libertas is depicted as Eve, mother of the human race, exercising her power of choice to bring about the human race.

Where Are Goldbacks Accepted?

The Goldback is designed to be a local currency within certain regions where a series exists, that being Utah, Nevada, and Wyoming. They are considered voluntary local currency, a form of money created for local use and has an agreed value by the people and businesses involved in a particular transaction for goods and services, and it is believed that Goldbacks are accepted as high as 50% of small business owners in some states.

The History of Goldbacks

In 2011, the most senior partner of the Goldback company Lawrence D. Hilton authored what became the draft for the Legal Tender Act in Utah, which allowed for Goldbacks to be used as voluntary local currency in Utah.

How are Goldbacks Made?

Creating a Goldback relies on vacuum technology. Designs are printed on a sheet of polymer, then atomized gold particles are sealed inside by a second protective barrier of polymer.