Why Circulating Goldbacks Matters More Than Collecting Them
Original 2019 Utah Goldbacks. Alphas from a new series. Limited Early Releases with exclusive artwork. It’s easy to get caught up in the collectability of Goldbacks. There’s a natural instinct to keep them, display them, or stash them in a vault.
While there is room for collecting Goldbacks, their real power lies in circulation. Every time you spend a Goldback, you strengthen the movement. So, use them at a participating business, take them to the local farmers market, barter with them at a garage sale, or tip your server. Each transaction helps expand adoption, combat inflation, and introduce more people to a new way of thinking.
Lessons from the Silver Dollar
The silver dollar is a key example of why you should circulate more than you collect. Originally, U.S. silver coins were used in everyday transactions. However, when the price of silver rose and its intrinsic value exceeded its face value, people began hoarding these coins rather than spending them. The Coinage Act of 1965 removed silver from dimes and quarters, and by the 1970s, silver dollars had all but vanished from circulation. Today, silver dollars are collector’s items rather than a medium of exchange, and the country lost a reliable physical currency in the process.
Goldbacks could face a similar fate if they are viewed only as collectibles. Their potential lies in their ability to be circulated.
Why Spending Goldbacks Strengthens Their Value
Every time a Goldback is used in a transaction, it reinforces its legitimacy as a currency.
When Goldbacks stay in motion, they:
Promote the use of gold as currency.
Introduce new people to the concept of sound money.
Support independent businesses and strengthen local economies.
Maintain their intended purpose as an inflation-resistant alternative to paper currency.
Increase overall adoption, making them easier to use in more places.
A Future Where Gold Circulates Again
History has shown us what happens when valuable currency is removed from circulation—it becomes a relic of the past rather than a tool for the present. Goldbacks offer a unique opportunity to reverse this trend by bringing gold back into everyday use. But this will only happen if people spend them. By choosing to use Goldbacks instead of just collecting them, you help create a stronger financial system—one that keeps real money in the hands of everyday people.
Goldbacks were never meant to sit in a drawer. They were made to be spent, shared, and circulated. Because money only thrives when it moves.
