Why Regular People Love Goldbacks

When I spend Goldbacks the reaction that I get is usually one of awe. It doesn’t seem to matter who it is or what they know about gold at all. People of just about any background are visually impressed with the Goldback. But why?

Gold has been used as money for thousands of years but why gold? Sure, it’s rare, divisible, and portable but other things surely fit those descriptions as well. There’s another more primal reason why everyone was able to agree on gold being money. I believe that reason is because gold itself is absolutely beautiful! There’s a reason nearly 50% of all gold is used in jewelry.

Goldbacks have a surprisingly high acceptance rate among people that don’t normally own or deal in gold. We think a big part of the reason why this is the case is because people can see so much of the gold itself. This sparks the same emotional reaction that made gold money to begin with but at a much bigger level.

We decided to measure this for fun and made this graph:

You can see that a single Goldback has about 34x the surface area of a 1/10th ounce gold coin. The gold coin has 100x the amount of gold though! This means that the gold is 3,400x more visible in a Goldback form than a 1/10th ounce coin form! This ratio only becomes more extreme as the denominations of coins become larger.

If you’re going to own gold and look at it then it is in our (somewhat biased) opinion that it’s cool to be able to see as much of it as possible. There’s quite a bit of evidence too that the visual appeal helps in being able to trade it. This is a huge part of why gold was initially used as money to begin with. If the technology behind the Goldback does take off then we think that this effect will be no small contributor. History doesn’t repeat but it does tend to rhyme and human nature hasn’t changed a wink.