Bills With Intrinsic Value? - Goldbacks
I found these bills on APMEX called Goldbacks and thought it was a cool concept. Neither my photos or the photos on their website really do them justice.
For more information about them, check out: https://goldback.com/
There is a significant premium in purchasing these over gold bouillon, but they are very collectable. So much so that I plan to accumulate more of them. As you will see from the photos they are a really nifty way to accumulate gold.
The front side of these things are beautiful. Even worthy of displaying. For now mine will live in my safe.
I rather like that the reverse side is just pure gold foil with no coloring.
Above is what I purchased for the first round run through my Canon scanner. The scanner does a good job of capturing the detail, however it's hard to tell the medium is actually gold. The table below shows how they are denominated, and the actual weight of the gold foil they are made from. The bills vary in thickness and size based upon the denomination.
The 25 dollar bill is only slightly larger than the 10 dollar bill, so it is significantly thicker. Of course the value of these notes will fluctuate with the price of gold, but you can get an idea of the premium by subtracting the gold value from the current retail price.
| Denom | Weight |
|---|---|
| $1 | 1/1000th oz |
| $5 | 1/200th oz |
| $10 | 1/100th oz |
| $25 | 1/40th oz |
| none | 100 mg |
I am missing the $50 from the Nevada set, which is 1/20th of an oz. There is an equivalent set for Utah as well. You can also find similar one-off notes, such as the 100mg Liberty note pictured at the bottom.
I'll follow up with additional posts as I accumulate more.
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