Utah: Where Goldbacks Began
Utah holds a special place in Goldback history as the birthplace of this innovative currency. Launched in 2019, Utah Goldbacks were the first to prove that small-denomination physical gold could work for everyday commerce.
Why Utah?
Utah was a natural fit for Goldback innovation:
- Strong precious metals culture
- Favorable state laws regarding gold/silver as legal tender
- Active sound money advocacy community
- Supportive business environment
The Denominations
1 Goldback - Voluntas (Free Will) Represents individual choice and agency. Gold content: 1/1000 troy ounce.
5 Goldbacks - Libertas (Liberty) Celebrates freedom with traditional symbols. Gold content: 5/1000 troy ounce.
10 Goldbacks - Virtus (Courage) Depicts pioneer spirit. Gold content: 10/1000 troy ounce.
25 Goldbacks - Concordia (Harmony) Represents community and cooperation. Gold content: 25/1000 troy ounce.
50 Goldbacks - Prudentia (Wisdom) Crowns the series with knowledge themes. Gold content: 50/1000 troy ounce.
Circulation in Utah
Utah boasts the most developed Goldback economy:
- Hundreds of participating merchants
- Farmer's markets accepting Goldbacks
- Local exchange services
- Growing everyday commerce acceptance
For 10 oz Bar Investors
Utah Goldbacks offer a way to:
- Introduce others to gold ownership
- Make small gold gifts
- Maintain some spendable gold alongside bar holdings
- Participate in alternative currency movement
The Utah Legacy
Utah Goldbacks proved the concept works, demonstrating that:
- People will accept gold-based currency
- Manufacturing at scale is feasible
- Merchant networks develop organically
- Small-denomination gold fills a real market need