GoldBacks ??? What are they ?

Greetings,

There is something I had never heard about, before coming to the SilverGolsStackers community : Goldbacks.

So I went to have some more information about it, it's a currency, backed by gold, the goal is to counter the inflation of the existing currencies.

They print notes, and integrate a quantity of gold that will give the value to the note.
There is a number printed on the note, corresponding to its gold weight.
The increment is by 1/1000th of a troy ounce of 24 Karat gold.

So, on the image shown here, we got a Goldback of 45, which has 45/1000th of a troy ounce of 24 Karat gold.

The value, at this time, is about 5.61 USD for 1 GoldBack, noted 1GB, like shown here under, where I calculated my account value in GB:

Source: https://www.goldback.com/calculator

Why not in Belgium or worldwide ?

They have several series, depending on the states they are used, they consider those GoldBacks as local currency.

My questions, yes I always have questions ...

• Are they legit in the whole country ?
• And can we find GoldBack notes in other countries?
• Do they keep their value anywhere ?

Normally, they should keep their value as the gold remains in them, no matter where you hold them.
I suppose they made local currencies so they can count as money instead of gold investments, with some "insurance" for merchants accepting those notes?

Should I get some?

I have absolutely no idea where to find them except from friends of SGS, if you have addresses in Europe, it would save me a lot of sending costs :)

Have a nice day, and "Cyall Soon" :)

Note: Still trying to recover from leg surgery. It's darn long ...

O.J.	Towards Financial Freedom!
	@independance is my path to financial freedom, via precious metal stacking. I try to achieve this to bring a heritage for my family. I'll post about my progress as well as anecdotes.

See you all Soon.