Goldbacks are a form of physical currency that contains actual 24-karat gold. Unlike paper bills or coins that represent value, Goldbacks embed thin layers of gold directly into a durable polymer note. This makes them the first physical currency you can hold that contains real gold in a spendable format.
Goldbacks were designed to solve a problem that has existed since ancient times: how do you use gold for everyday transactions? Traditional gold coins and bars work for large purchases or wealth storage, but they are impractical for buying groceries or paying for services. Goldbacks bridge this gap by creating fractional gold currency in denominations small enough for daily use.
How Goldbacks Are Made
Each Goldback contains a precise amount of 24-karat gold measured in thousandths of a troy ounce. The gold is embedded between layers of protective polymer using a proprietary process that makes the notes durable and flexible.
The manufacturing process deposits vaporized gold onto the polymer in specific patterns and amounts. A 1 Goldback contains 1/1000th of a troy ounce of pure gold. A 5 Goldback contains 5/1000ths of an ounce. A 50 Goldback contains 1/20th of an ounce.
The polymer layers protect the gold from wear while allowing the notes to bend and fold like traditional currency. Each denomination features intricate artwork representing specific virtues, with different designs for each state series.
State Series Available
Goldbacks are issued in five state series, each with unique artwork:
Utah was the first state to issue Goldbacks in 2019. The Utah series features virtues like Prudence, Justice, and Liberty.
Nevada followed with designs emphasizing Discovery, Independence, and Prosperity.
New Hampshire issued the Live Free or Die series with Fortitude, Wisdom, and other founding virtues.
Wyoming released designs featuring virtues connected to the state’s frontier heritage.
Arizona is the most recent series, featuring virtues including Temperance, Vigilance, Tenacity, Exploration, Curiosity, and Faith.
Each state series maintains the same denominations: 1, 5, 10, 25, and 50 Goldbacks. Some states also offer fractional denominations like the 1/2 Goldback and the 2 Goldback.
Why Goldbacks Exist
Goldbacks address three core problems with traditional gold ownership.
Divisibility. Traditional gold coins cannot be divided. If you own a one-ounce gold coin worth over two thousand dollars, you cannot spend half of it at a store. Goldbacks solve this by offering small denominations.
Practicality. Gold bars and coins are heavy, bulky, and difficult to transport in quantities needed for regular transactions. Goldbacks are lightweight and compact.
Verification. Most merchants cannot easily verify gold purity. Goldbacks include security features and can be authenticated visually, making them more practical for commerce.