About Us

Goldback-X is a grassroots initiative born from the innovation of the Goldback and its ability to function as viable sound money medium in the marketplace, and recognizing the need of basic services to facilitate spending and circulating within it. The Goldback is so novel, so new, that no existing infrastructure exists to facilitate its use in commerce. As is well documented at Goldbackdotcom this unique gold product has both micro transaction potential and multiple denominations in the same base metal which creates the real possibility of using sound money in a practical way for everyday use. Although we are not Goldback Inc, we are also very passionate about sound money and similarly desire to see it in more commonly utilized as a lifestyle currency. However the true problem with Goldback as a currency today is there are no support services that would allow the exchange of goods and services in a practical manner outside of face to face transactions which severely limit the ability to do business.

What’s worse, because of the novelty and the low ownership cost of the 1 Goldback as a gold product there has been tremendous demand fluctuation with prices well over +$10 USD for a single when shipping is included. How can we expect to utilize the Goldback as a sound money currency if the valuation of a Goldback is completely unstable? Of course many would argue that this is temporary due to supply issues, which may be true. However, the issue still stands that there is no true trade value of a Goldback. This presents a challenge and serious obstacle for Goldback establishing a valuation structure that brings the stability required to be successful as a functional currency.

Two big problems: Where to spend your Goldback and how much are they worth? Well if you have no where to spend then how would you know what they are worth? The mechanics in any exchange is first the offer and then acceptance which determines the base value, without a merchant to offer their product or service for Goldback its value as a currency is meaningless.