Utah Goldbacks
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132 posts

I was wondering what collectors thought of the Utah Goldbacks (I see there are Nevada Goldbacks now), I actually picked up a few this last winter (not graded). I haven't done much research on them, but they are supposedly "legal tender" in the state of Utah and are meant to be used as such (not sure if that's actually happening). They appear to have classically inspired designs and contain a fractional amount of gold for the "bullionistas", which I'll freely admit I'm one of. Just wondering if anyone thought that these have actual "staying power" or if they'll slowly fade away like most NCLT?

Here's a pic of a graded set.

461939181_GoldbacksPMG.jpg.5ef36708fd9f31a7878195a265f32a97.jpg

Edited by Fenntucky Mike
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259 posts

I've heard of them but not really about them. I saw a lot of people posting them on the Silverbugs subreddit.

Texas is also making a state bullion repository - because the feds are apparently not to be trusted.

I just don't think the states are that much better than the feds, so I see them mostly as a gimmick from people trying really really hard to be relevant.

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26 minutes ago, Revenant said:

I see them mostly as a gimmick

They are definitely that but will collectors take to them?

Banknotes have a much smaller market share in the collecting market when compared to coins. Will items like these introduce people to traditional bill collecting and keep there interest? I guess a better way to put is, will bills like these help or hurt banknote collecting?

Commemorative banknotes have been around for a long time, to me these are something different. If you were to call them "Monopoly Money" or similar I wouldn't disagree with you but I kind of like them. Probably going to pick up some of the Nevada notes in the near future.

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On 9/26/2020 at 8:11 AM, Fenntucky Mike said:

They are definitely that but will collectors take to them?

Banknotes have a much smaller market share in the collecting market when compared to coins. Will items like these introduce people to traditional bill collecting and keep there interest? I guess a better way to put is, will bills like these help or hurt banknote collecting?

Commemorative banknotes have been around for a long time, to me these are something different. If you were to call them "Monopoly Money" or similar I wouldn't disagree with you but I kind of like them. Probably going to pick up some of the Nevada notes in the near future.

I'm definitely open to collecting them but it would depend on the price (I haven't researched what these go for at all).

For now though I'm going to stick to my white elephant, my preferred / favorite "monopoly money", the Zimbabwe collection! lol 

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