Have You Seen The New Wyoming Goldback?
If your question is, "what the heck is a Wyoming Goldback?", we were asking the same question.
The Goldback is a new form of currency that uses small amounts of gold to make up the denomination. They've only been around for a short period of time, created in 2019. They are the size of regular paper money, but have certain amounts of gold in them to represent the actual amount they're worth.
According to goldback.com, they are the worlds only interchangeable physical gold money. Goldbacks are made to be used just like you'd use regular paper money, but instead of just representing a certain amount of gold, it is actually made of the amount of gold it's worth.
As long as you are in an area that accepts them, the Goldback's can be used as currency, but anyone can invest in them. Currently there are 5 different denominations of them. 1, 5, 10, 25 and 50 with each denomination representing a certain amount of gold. In 1,000 Goldbacks, there is an ounce of gold.
There's a strong possibility that you still don't understand the Goldback concept, but here in Wyoming there are many businesses that are accepting the new currency. This map shows the locations of those particular areas that are on board with the new idea.
If you've seen TV commercials selling gold or silver coins, this concept is much the same. You investing in the precious metals, not so much the actual coin. It's a pretty interesting way to invest you money. Like any investment though, research is the best way to make sure it's a good deal for you.
This video from Silver Dragons on YouTube, explains the new design of the Wyoming Goldbacks. If you're a Wyoming collector, it may be worth checking into them.