BY RYAN SPELTS
What would happen if our financial system crashed? I hope it never does, but I also want to be prepared if it does. Even if the system didn’t fail but the dollar was diminished in value due to inflation like we are seeing now, it would be problematic. Our dollar lost its gold backing in 1971, so the only real value in the dollar is the faith we have in it as a society. So, how do we prepare for these possibilities? With gold!
The main problem with buying gold is that gold is such a valuable asset that it would be hard to buy your day-to-day needs with, even with gold coins. The average Gold American Eagle coin is 1oz. with a value today of about $1900. It would be hard to buy milk and eggs with that. I had a friend who would buy silver coins because they are so much more spendable in the long run. They are still worth $35.
An innovative company in Alpine, Utah, has been working hard to develop a secondary currency that is not backed by gold, but it actually is gold. Meet Goldbacks. Goldbacks are the first physical, fully-interchangeable, gold money of the new millennium. Designed for small transactions, Goldbacks accommodate payments wherever recognized as an authorized medium of exchange or barter exchanges anywhere else worldwide.
♦ They are available in five convenient, interchangeable denominations: the 1, 5, 10, 25, and 50. One Goldback equals a thousandth of a troy ounce of fine gold.
♦ Through the process of vacuum deposition within a proprietary polymer coating, the Goldback, itself, consists of 24-karat gold (no third party vaulting required).
♦ Tougher than most currencies, Goldbacks survive circulation well, especially when handled with some degree of care.
♦ Goldbacks appreciate in value at the same rate as gold, so holding them presents no significant downside compared to other gold products.
♦ Each Goldback bears a unique serial number, coupled with six other anti-counterfeiting security features.
♦ Like cash, Goldbacks can be easily spent at small businesses and for private transactions. On fast-track to ubiquity, during its first year of circulation, the Goldback is estimated to have found its way into the hands of hundreds of thousands of people worldwide.
So, whether you are interested in buying gold in case the worst should happen or just want to have gold in reserve that is spendable, Goldbacks are an amazing currency that can be used today and in the future. It is actual gold. Each Goldback denomination has a unique artist’s rendering tied into the state of origin, in our case, Utah. They are beautiful and unique.
For a chance to hold and see some Goldbacks yourself, call Chris Turpin at 801-648-4380, visit gunsammopreparedness.com, or stop by his shop located inside the Weber County Sports Shooting Complex.