Is It Time To Switch From Greenbacks to Goldbacks?

I keep coming across something called “goldbacks”, a currency that contains 24kt gold leaf in various amounts. The most recent mention I’ve seen was in the comments in Chris Muir’s Day by Day cartoon.

There are four five states that accept goldbacks as legal tender – Nevada, South Dakota, Utah, Wyoming, and my home state of New Hampshire.

I’ve seen them available in a number of denominations depending on how much gold leaf they contain, with the available denominations running from 1, 5, 10, 25, and 50. The 1 contains 1/1000th of a troy ounce of gold, the 5 contains 1/200th of an ounce, the 10 contains 1/100th of an ounce, the 25 contains 1/40th of an ounce, and the 50 contains 1/20th of an ounce. The five states have individual versions of these five denominations but the amount of gold contained in each denomination is the same.

Considering the state of our economy it might be time to consider buying goldbacks as it is highly likely the same amount of goldbacks will buy the same amount of goods regardless of the inflationary devaluation of the US dollar.

Am I shilling for those who are selling goldbacks? Nope. I am not going to link to anyone selling goldbacks nor am I going to suggest anyone. That’s something you can search for on the ‘Net by yourself. But one of the things I will say is that it is less of an expense if you can buy gold by the 1/1000th of an ounce, not having to shell out large amounts of cash to buy 1/10th ounce coins.

Have I bought any? I ain’t sayin’.

Will I buy any? None of your business.