A Goldback is a thin, flexible gold note containing real, physical 24-karat gold. Each note holds a precisely measured amount of gold and functions as a small, spendable denomination of physical gold.
Instead of storing gold in a vault or buying a large coin, Goldbacks make it possible to own fractional gold in everyday denominations, starting under $5 for the smallest notes.
What Is a Goldback Made Of?
A Goldback contains real gold embedded in a durable polymer note. Using a vacuum deposition process developed by Valaurum, layers of 24-karat gold are bonded between protective polymer layers at a precise, verifiable weight. The process took over 20 years to develop. No other company produces fractional gold in this format.
The gold isn't symbolic and it isn't a claim on someone else's inventory. It's physically in the note — .9999 fine 24-karat gold, same standard across every denomination and every state series.
How Goldback Denominations Work
Goldbacks come in nine denominations, each holding a proportional amount of gold:
| Denomination | Gold Content |
|---|---|
| ¼ Goldback | 1/4000 troy oz |
| ½ Goldback | 1/2000 troy oz |
| 1 Goldback | 1/1000 troy oz |
| 2 Goldback | 1/500 troy oz |
| 5 Goldback | 1/200 troy oz |
| 10 Goldback | 1/100 troy oz |
| 25 Goldback | 1/40 troy oz |
| 50 Goldback | 1/20 troy oz |
| 100 Goldback | 1/10 troy oz |
Pricing reflects the live gold market and updates daily at shop.goldatm.com. The ¼ Goldback is exclusive to the Idaho series. The 2 Goldback is available in Florida, Oklahoma, Arizona, and Idaho.
How Goldbacks Differ from Gold Coins
Gold coins and Goldbacks both contain physical gold, but they serve different purposes.
Gold coins typically start at 1/10-ounce increments, which puts the minimum well into the hundreds of dollars. They're designed for long-term storage, not everyday transactions.
Goldbacks start under $5. They're flexible, wallet-sized, and accepted voluntarily at over 2,000 merchants across the United States. You can save them, trade them, or spend them at any participating merchant without converting to cash first.
Both are physical gold. They're just structured for different purposes.
Why Goldbacks Exist
Traditional gold ownership requires buying larger units: 1-ounce coins or bars with a significant upfront commitment. Goldbacks were created to make fractional physical gold more accessible: small denominations, spendable format, verified purity, no vault required.
The denomination structure makes it possible to start with a single note under $10 and scale up over time. No other physical gold product offers that flexibility at this entry point.
The Appreciation Track Record
Since launching in 2019, Goldbacks have appreciated an average of 14.47% annually. That figure reflects both gold price movement and growing demand for the Goldback format. The gold in each note is a physical asset you hold directly — not a fund, not a derivative.
Goldback State Series
Goldbacks are produced in state-specific series, each featuring original commissioned artwork tied to that state's history, landscape, and values. Nine series are currently active:
- Utah
- Nevada
- New Hampshire
- Wyoming
- South Dakota
- Oklahoma
- Florida
- Arizona
- Idaho
Each denomination within a series carries its own design — not a repeated image at different sizes. Idaho introduced the ¼ denomination in 2026, the smallest ever produced and exclusive to that series.
How Much Gold Is in a Goldback?
A 1 Goldback contains exactly 1/1000 of a troy ounce of .9999 fine 24-karat gold. Each denomination scales proportionally from there. Because the gold content is fixed, the value of each note moves with the current gold price. Goldbacks may also trade above their metal content depending on demand and availability.
Where to Buy Goldbacks
Goldbacks are available through GoldATM's online store, which carries verified notes across all denominations and state series. Browse single notes or bundles, with no minimum order and no account required.