What Is a Goldback?
A Goldback is a physical gold currency note containing 24-karat gold. Valaurum's patented vacuum deposition process embeds real gold between protective polymer layers in every note. Goldbacks come in eight denominations in production (¼ to 50), plus the discontinued 100, across state series in the U.S. Thousands of independent businesses accept them as voluntary payment. A single 1 Goldback contains 1/1,000 of a troy ounce of gold, making Goldbacks the most practical way to own, carry, and spend fractional gold.
What Are Goldbacks?
Goldbacks are a privately issued gold currency for everyday use. Each note holds a fixed fraction of a troy ounce of 24-karat gold, from 1/4,000 of an ounce in the ¼ Goldback to 1/20 of an ounce in the 50. Goldback Inc. issues them in state series, and thousands of independent businesses across the U.S. accept them as payment. A Goldback is not a claim on gold stored somewhere else, like a certificate or a fund share. The gold is in the note.
- Issuer: Goldback Inc., launched in Utah in 2019
- Gold: 24-karat gold bonded between polymer layers by Valaurum's vacuum deposition process
- Denominations: ¼, ½, 1, 2, 5, 10, 25 and 50. The 100 was discontinued by Goldback; existing 100s remain valid.
- Value: set by a daily exchange rate that follows the price of gold
- Use: spend them where accepted, hold them, or collect the state series
How They're Made
The Artwork
Each state series features original artwork representing virtues and state identity. Goldback Inc. commissions artists to design every denomination. The front of each note depicts a female figure embodying a virtue: Fortitude, Justice, Prudence, and others. The back carries the state seal and denomination markings.
Security & Verification
Every production run undergoes X-ray depth measurement, fire assay of gold content, and third-party verification. Each note carries government-grade anti-counterfeiting features, unique crystallization patterns, and individual serial numbers. No Goldback has ever been successfully counterfeited.
Vacuum Deposition
Goldbacks are manufactured by Valaurum in the United States using a patented vacuum deposition process. Atomized 24-karat gold is deposited onto polymer sheeting in precise quantities. A 1 Goldback receives exactly 1/1,000 of a troy ounce. A 50 Goldback receives 1/20th. The gold is physically embedded between protective layers. It is not printed, plated, or coated.
Goldback Denominations
| Denomination | Gold Content | Troy Oz | States Available |
|---|---|---|---|
| ¼ Goldback | 1/4,000 oz | 0.00025 oz | Idaho, Florida, California |
| ½ Goldback | 1/2,000 oz | 0.0005 oz | FL, OK, AZ, ID |
| 1 Goldback | 1/1,000 oz | 0.001 oz | Every state series |
| 2 Goldback | 1/500 oz | 0.002 oz | FL, OK, AZ, ID |
| 5 Goldback | 1/200 oz | 0.005 oz | All except TX |
| 10 Goldback | 1/100 oz | 0.01 oz | All except CA, TX |
| 25 Goldback | 1/40 oz | 0.025 oz | All except CA, TX |
| 50 Goldback | 1/20 oz | 0.05 oz | All except CA, TX |
| 100 Goldback | 1/10 oz | 0.1 oz | FL, OK, AZ, ID |
Prices follow the daily Goldback exchange rate. See current prices in the shop.
How Do Goldbacks Work?
The number on a Goldback is its denomination, not a dollar amount. A 1 Goldback holds 1/1,000 of a troy ounce of gold. A 50 Goldback equals fifty 1 Goldbacks, and any combination of 1,000 Goldbacks adds up to one full ounce. Every series uses the same gold-per-denomination standard, so a Utah 5 and a Florida 5 carry the same value.
Spending them takes four steps:
- Find a business that accepts Goldbacks on the Goldback app or merchant map.
- Convert the total with the Goldback calculator, which uses the daily exchange rate.
- Pay with the right mix of denominations.
- Take change in smaller Goldbacks or in cash.
Merchants often accept part of a payment in Goldbacks and the rest in cash, debit, or credit. Any Goldback works anywhere it's accepted, whatever the state series.
To get Goldbacks, buy them online by series and denomination, or with cash at a GoldATM kiosk.
What Is a Goldback Worth?
A Goldback's dollar value comes from the exchange rate Goldback Inc. publishes every day at 10 AM Mountain Standard Time. The rate follows the market price of gold. It also covers the manufacturing, technology, and anti-counterfeiting security built into each note, so a Goldback costs more than the melt value of its gold. Every denomination scales from the same rate: a 5 Goldback is worth five 1 Goldbacks. The rate changes daily with the gold price, in either direction.
Are Goldbacks Legal Tender?
Goldbacks are not U.S. dollar legal tender. Goldback says the notes carry language affirming that, along with the words "privately issued." They are legal to own and to spend wherever both parties agree, and Goldback says they are recognized as an exchangeable currency only where local or state law authorizes them. Thousands of independent businesses accept them, and the Goldback app lists them by location. To see how this compares with the old gold standard, read Gold-Backed Currency: How Goldbacks Work.
Goldbacks vs Gold Coins
| Goldbacks | Gold Coins (Eagles, Maples) | |
|---|---|---|
| Minimum buy-in | ~$2.25 (¼ Goldback) | Price of 1 oz of gold + premium (1 oz coin) |
| Gold purity | 24-karat gold | 22k to 24k (varies) |
| Spendable | Yes, at thousands of businesses | Rarely accepted at face value |
| Divisible | 8 denominations (¼ to 50) | Must sell the whole coin |
| Legal tender | Not U.S. legal tender (voluntary use) | Federal legal tender |
| Premium over spot | Higher (manufacturing + utility) | Lower (bullion premium) |
| Collectible | Multiple state series, unique artwork | Limited designs per year |
Goldbacks and gold coins serve different purposes. Coins optimize for gold content per dollar. Goldbacks optimize for usability: fractional ownership, everyday spendability, and accessibility at any budget.
The Goldback State Series
How to Buy Goldbacks
GoldATM sells every denomination across every state series at shop.goldatm.com. No order minimums. Prices update daily with the Goldback exchange rate. Shipping is $9.99 flat rate, or free with insurance on orders over $1,000.
GoldATM is the company behind the original Gold ATM kiosks: 50+ GoldATM locations where you can buy Goldbacks in person. The online shop carries the full catalog.
Frequently Asked Questions
What are Goldbacks?
Goldbacks are a privately issued gold currency. Each note contains a fixed fraction of a troy ounce of 24-karat gold, from 1/4,000 oz (¼ Goldback) to 1/20 oz (50 Goldback). Thousands of independent businesses across the U.S. accept them as payment.
How do Goldbacks work?
Each denomination holds a set amount of gold, and Goldback Inc. publishes a daily exchange rate that converts Goldbacks to dollars. Merchants use the rate to price purchases, and buyers pay with any mix of denominations from any state series.
What is a Goldback worth?
A Goldback's dollar value follows the daily Goldback exchange rate, which tracks the price of gold plus the cost of making each note. A 1 Goldback holds 1/1,000 troy oz of gold. See today's rate by denomination on our Gold Price Today page.
Is the gold in a Goldback real?
Yes. Each Goldback contains 99.9% pure 24-karat gold physically embedded in the note using a patented vacuum deposition process. The gold is not a coating or a certificate. It is real, verifiable physical gold sealed within the polymer layers.
How much gold is in a 1 Goldback?
A 1 Goldback contains exactly 1/1,000 of a troy ounce (0.001 oz) of 99.9% pure 24k gold. One thousand 1-Goldback notes equal one full troy ounce of pure gold.
What is the cheapest Goldback?
The ¼ Goldback at approximately $2.25 is the smallest and least expensive denomination. It is available in the Idaho, Florida, and California series. The next smallest is the ½ Goldback at approximately $4.50, available in Florida, Oklahoma, Arizona, and Idaho.
Are Goldbacks a good investment?
That depends on your goals. A Goldback holds a fixed amount of 24-karat gold, and its dollar value moves with the daily exchange rate, which can rise or fall. Goldbacks also cost more than the melt value of their gold. We cover the trade-offs in Are Goldbacks a Good Investment?
Can I spend Goldbacks?
Yes. Thousands of independent businesses across the U.S. accept Goldbacks as voluntary payment. Utah has the largest Goldback merchant network. The 1 and ½ denominations are the most commonly accepted for everyday transactions.
What is GoldATM?
GoldATM is the original Gold ATM network. The company invented and operates gold ATM kiosks dispensing Goldbacks at 50+ retail locations nationwide. GoldATM also sells all Goldback denominations and state series online at shop.goldatm.com with no minimums and insured shipping.