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SassyLady
03-28-2022, 12:41 AM
Has anyone heard of these? Anyone have them?

https://www.govmint.com/gold/goldbacks

Apparently Utah, Nevada and New Hampshire have them

https://www.moderncoinmart.com/info-vault/what-is-a-goldback.html
SassyLady
03-28-2022, 11:03 PM
Anyone?
fj1200
03-29-2022, 12:07 PM
No. Why are they good? To someone other than a numismatist?
SassyLady
03-29-2022, 02:13 PM
No. Why are they good? To someone other than a numismatist?

Several businesses in those states are accepting them as payment. Why did those states decide to honor them? Hedging on dollar collapse?
fj1200
03-29-2022, 02:26 PM
Several businesses in those states are accepting them as payment. Why did those states decide to honor them? Hedging on dollar collapse?

Doesn't matter. Make money on selling a collector's item. They're legally not allowed to circumvent the Fed's monopoly on coinage.
SassyLady
03-30-2022, 03:03 AM
Doesn't matter. Make money on selling a collector's item. They're legally not allowed to circumvent the Fed's monopoly on coinage.

Then why are the states allowing it?
fj1200
03-30-2022, 07:46 AM
Then why are the states allowing it?


Make money on selling a collector's item.

It's not a sign of the apocalypse.
SassyLady
03-30-2022, 09:18 PM
It's not a sign of the apocalypse.

The states don't have to pass legislation for people to buy as collectors items. They made legislation so it would be legit money.
fj1200
03-30-2022, 09:41 PM
The states don't have to pass legislation for people to buy as collectors items. They made legislation so it would be legit money.

The states are not foreseeing the collapse of the dollarz. If you want to buy gold, buy gold. If you want to buy these things then buy them. Personally I don't see the point as gold has historically been a poor performer as an asset class.
SassyLady
03-31-2022, 12:46 AM
The states are not foreseeing the collapse of the dollarz. If you want to buy gold, buy gold. If you want to buy these things then buy them. Personally I don't see the point as gold has historically been a poor performer as an asset class.

Really? How is it a poor performer? I haven't bought any but I'm thinking about it. Why do you recommend against it?
fj1200
03-31-2022, 09:16 AM
Really? How is it a poor performer? I haven't bought any but I'm thinking about it. Why do you recommend against it?

Stocks typically do better over the long term. Not to say that any particular time period it won't do better than stocks. Here's a fun little tool that compares gold returns vs siver, the DOW, and S&P.

https://www.longtermtrends.net/stocks-vs-gold-comparison/

Here's another one where you can looks at gold prices over time by year, POTUS, Fed chair, etc.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

People think gold is safe but it's actually pretty volatile. To me it's more of a bet on how bad the Fed is doing vs gold being good to buy and hold. After Nixon closed the gold window and after 9/11 where I think Greenspan and Bernanke (worse) started to lose it by keeping interest rates too low is when gold started to rise. See housing bust, see today's inflation, etc. The pain of 80's inflation actually started in the 60's and LBJ IMO.

Food for thought.
Gunny
03-31-2022, 09:57 AM
The premise of hoarding gold (or any other "precious" metal) as a means of survival is flawed from the get-go. At the survival level, where's your market? Hoarding gold assumes there's a market, and gold will buy whatever is needed to survive. Can't buy what isn't for sale.

So who/what is selling the means of survival for chunks of metal that are generally useless when it comes to shelter and food on the table?