In a recent Christmas gift order for my grandchildren, I received a free Arizona Goldback:
As you can see on the scan above, it contains 1/2000th of an ounce of gold.
The scan does not do the color or finish justice. It is gold color with a shiny face and matte back. The back the reverse impression of the face It is 2.55″ wide and just under 4.4 inches long.
Very interesting. This is way to create hard currency in small denominations.
There are also 1/2 & 1 Goldbacks of several states. At the current market, a 1/2 contains about $2.70 , but I checked APMEX and they’re selling them for $4.31 (quite the margin there)
I’ve looked into them before but haven’t bought any.
I’m not a fan of big premiums, but I don’t see a way around them for amounts this small.
I think it is better to use silver or copper for amounts in this scale (it’s what was used for millenia)
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