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Periodic Table
Periodic Table
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Legal Tender and Goldbacks Empty Legal Tender and Goldbacks

Fri Jun 30, 2023 1:43 am
Based on Article 1, Section 10 of the US Constitution, eleven of the 50 states have approved bills to make gold and silver legal currency within their states. This will eliminate capital gains taxes/sales taxes on the two precious metals. Importantly, some of these states will use a small percentage of their state funds to acquire gold as reserves to act as a hedge against runaway inflation and to boost pension funds.

Granted, these steps are small, but at least they are heading in the right direction. While the states that haven't passed bills for gold and silver to become legal currency, most of them like Virginia do not charge a sales tax when purchasing precious metals. Other states have conditions before they exempt sales tax.

Four states have issued goldbacks as a way to make transactions within their own states. I purchased two Wyoming goldbacks because I like the art. The following pictures do not justify how shimmering these species really are. The third pic are the ones I purchased and keep them in my stamp collection binder.

Legal Tender and Goldbacks 10-wyo11
Legal Tender and Goldbacks 1-wyom11
Legal Tender and Goldbacks Img_7314

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Bondie
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Fri Jun 30, 2023 12:18 pm
They are very artistic @Periodic Table! I've seen them for sale on Facebook, but the images haven't been as detailed as yours. Very interesting to have a closer look Very Happy

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Admin
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Fri Jun 30, 2023 12:33 pm
I have seen these and I have never been one to say yes and take one on. Personally if I am buying gold, i want something I can melt if I need to.
the same with silver.

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Periodic Table
Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Fri Jun 30, 2023 3:47 pm
Bondie wrote:They are very artistic @Periodic Table! I've seen them for sale on Facebook, but the images haven't been as detailed as yours. Very interesting to have a closer look Very Happy

You could always buy a one dollar goldback as they are low in cost. That way, you'll see just how reflective it is.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Fri Jun 30, 2023 4:05 pm
Admin wrote:I have seen these and I have never been one to say yes and take one on. Personally if I am buying gold, i want something I can melt if I need to.
the same with silver.

It's the work of art and their use within those states that attracted me to these goldbacks. And the low denominated ones are cheap. For me, it's enjoyable just to have these two examples.

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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Fri Jun 30, 2023 8:06 pm
I can not remember who sent me some gold in a card... but it was .1g etc... I like them because they are just sealed pieces / bars of pure gold.

I might look to buy a few gold backs. I seen them on facebook being advertised.... they are cheap enough to buy a few for laughs.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Fri Jun 30, 2023 9:10 pm
Admin wrote:I can not remember who sent me some gold in a card... but it was .1g etc... I like them because they are just sealed pieces / bars of pure gold.

I might look to buy a few gold backs. I seen them on facebook being advertised.... they are cheap enough to buy a few for laughs.

One thing I thought about was they reminded me of when I used to collect football cards. I played football and admired the professional players when I was young. Collecting cards was an offshoot of my interest in football. Buying a few goldbacks was something that derived from my interest in the investment of precious metals.
Admin
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 12:03 pm
Periodic Table wrote:
Admin wrote:I can not remember who sent me some gold in a card... but it was .1g etc... I like them because they are just sealed pieces / bars of pure gold.

I might look to buy a few gold backs. I seen them on facebook being advertised.... they are cheap enough to buy a few for laughs.

One thing I thought about was they reminded me of when I used to collect football cards. I played football and admired the professional players when I was young. Collecting cards was an offshoot of my interest in football. Buying a few goldbacks was something that derived from my interest in the investment of precious metals.

I collected Garbage Pale Kids cards, whilst my friend was a HEAVY ( in so many ways ) baseball collector.

He has a entire room of his house with cards that are apparently worth tens of thousands. Plus signed this and that... he is a red sox fan so say no more.

I wish I kept my cards instead of using them as bmx mufflers and or sticking them onto car windows.. lol.


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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 12:20 pm
Never heard of Garbage Pale Kids cards @Admin. Had to look them up. Read they were a funny take on the Cabbage Patch kids.
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 3:06 pm
Periodic Table wrote:Never heard of Garbage Pale Kids cards @Admin. Had to look them up. Read they were a funny take on the Cabbage Patch kids.


OMG really????

They were brilliant and amazing satire for that time. MAD Magazine did a whole thing with them. They had bubble gum sticks inside... which were always rock hard. But yeah

UP CHUCK

Atom Bomb.. LOL

Legal Tender and Goldbacks Atb10
Legal Tender and Goldbacks Gbk110
Legal Tender and Goldbacks Gpk10


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The Cat's Mother
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 9:35 pm
Speaking of Garbage Pail Kids, I see MK Barz has a sale on at the moment, featuring (among other things) two limited - 500 - edition poured 4 oz bars with Adam Bomb and Jolly Roger from the GB Kids. Pricy even in the sale, but not as much as the Chameleon.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 10:00 pm
The Cat's Mother wrote:Pricy even in the sale, but not as much as the Chameleon.

So the chameleon is being used as the benchmark for over the top premiums. Laughing That's fine for those of us who purchased it. Little secret here. When you rub the back of the coin, the chameleon's tongue pops out. Shocked Laughing

My next out of this world premium purchase will be the Vault by CIT. Comes in at 3 ounces and it looks spectacular.

Legal Tender and Goldbacks 2023-c10

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The Cat's Mother
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 10:19 pm
I don't believe you @Periodic Table . I think you have to show it some tasty insects before it'll put its tongue out.
The Chameleon does have a pretty high premium, but it is 2oz, and the Germania Beasts 2oz versions, and 2x1oz black and gold come in at the same high level. There are others that boggle the mind: the CIT Numismatic Icons are eye watering, and I don't like to think about what I paid to complete my Silver Shield Sacred Geometry series. I don't regret it, but I don't like to think about it.
The Vault does look amazing.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 10:37 pm
The Cat's Mother wrote:I don't believe you  @Periodic Table . I think you have to show it some tasty insects before it'll put its tongue out.
The Chameleon does have a pretty high premium, but it is 2oz, and the Germania Beasts 2oz versions, and 2x1oz black and gold come in at the same high level. There are others that boggle the mind: the CIT Numismatic Icons are eye watering, and I don't like to think about what I paid to complete my Silver Shield Sacred Geometry series. I don't regret it, but I don't like to think about it.
The Vault does look amazing.

Just kidding TCM. Totally understand the high premiums for many coins. It's a bite to be sure. That's why I keep my tongue in when I see mouth watering coins online or videos by @Admin.
Considering my home decor has been done, the next best idea was to invest in basic PMs and art-like ones. Large investment but small in storage and display. I'll have to look up what your silver Shield Sacred Geometry series is. Cool

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 10:46 pm
@The Cat's Mother, I just checked out samples of the silver Shield Sacred Geometry series. They a very beautiful and quite expensive as you said.

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The Cat's Mother
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 10:53 pm
The quickest way would be to search eBay: search for Silver Shield Sacred Geometry under 'coins'. There were 18 originally, but the mint seems to have started the series up again, and now there's twenty. Added to the price, for me, is the daylight robbery postage costs and the VAT added by eBay, although it's fair to say I did get a fair number from dealers' own websites.

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The Cat's Mother
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 10:53 pm
You beat me to it Steve.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sat Jul 01, 2023 11:34 pm
The Cat's Mother wrote:The quickest way would be to search eBay: search for Silver Shield Sacred Geometry under 'coins'. There were 18 originally, but the mint seems to have started the series up again, and now there's twenty. Added to the price, for me, is the daylight robbery postage costs and the VAT added by eBay, although it's fair to say I did get a fair number from dealers' own websites.

I can imagine the investment you made with these coins TCM. Just looking at the costs on eBay and other sites is fairly mind blowing. Don't know if they were that expensive when you started acquiring them. Nonetheless, they are a beautiful collection to have.Cool

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The Cat's Mother
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sun Jul 02, 2023 10:04 am
@Periodic Table , not all of them were so expensive as once I got into them I bought on pre-sale as they came out. It was the catching up that was really expensive. The way the series operate is that the mint only produces rounds to meet the pre-issue orders, so if a round isn't popular it is a very limited edition indeed. Unalome is an edition of 555, for example. The Lunar series are also a case in point: the V2 and V3 Year of the Ram are issues of 300, and the Year of the Dog even less popular (V2 - 221 and V3 - 203). Customers aren't limited to one round and a number of people buy a few with a view to selling on later, at a significantly enhanced rate. The rounds do seem to appreciate in value very well, and I couldn't get any of the ones I have now for the price I paid, even the catch-ups.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sun Jul 02, 2023 3:52 pm
The Cat's Mother wrote: @Periodic Table , not all of them were so expensive as once I got into them I bought on pre-sale as they came out. It was the catching up that was really expensive. The way the series operate is that the mint only produces rounds to meet the pre-issue orders, so if a round isn't popular it is a very limited edition indeed. Unalome is an edition of 555, for example. The Lunar series are also a case in point: the V2 and V3 Year of the Ram are issues of 300, and the Year of the Dog even less popular (V2 - 221 and V3 - 203). Customers aren't limited to one round and a number of people buy a few with a view to selling on later, at a significantly enhanced rate. The rounds do seem to appreciate in value very well, and I couldn't get any of the ones I have now for the price I paid, even the catch-ups.

Though I never considered the production of rounds to be based on the number of pre-issue orders, it's a relief to know you bought some on pre-sale when you first started. Plus the fact that all of your rounds have appreciated in value makes this series all the better.

I have to admit that I don't like buying pre-sale coins/rounds because I won't know when they finally arrive at the dealer. The Vault is a good example.

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The Cat's Mother
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sun Jul 02, 2023 4:30 pm
I agree with you Steve, but that's how Silver Shield operate so I have to go along with it or pay the price. The dealer I used was very trustworthy and reliable, unfortunately he's retired now, and sent out a mailing list with what rounds were imminent so we could decide if we wanted one at issue price. There was a long wait to be sure, but it added to the excitement when they arrived. Silver Shield are the exception though, and I don't pre-order other than that. I'll flag up an interest, but not part with money up front.

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Periodic Table
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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Sun Jul 02, 2023 5:24 pm
The Cat's Mother wrote:I agree with you Steve, but that's how Silver Shield operate so I have to go along with it or pay the price. The dealer I used was very trustworthy and reliable, unfortunately he's retired now, and sent out a mailing list with what rounds were imminent so we could decide if we wanted one at issue price. There was a long wait to be sure, but it added to the excitement when they arrived. Silver Shield are the exception though, and I don't pre-order other than that. I'll flag up an interest, but not part with money up front.

Thanks for clearing up the matter with Silver Shield TCM. And I'm glad they are the exception. The interest flag is a great tool for pre-sale and available coins/rounds. Because really, I can't afford to buy them all at once. For me, it's a very slow process.

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Legal Tender and Goldbacks Empty Re: Legal Tender and Goldbacks

Mon Jul 03, 2023 11:15 am
Periodic Table wrote:
The Cat's Mother wrote:Pricy even in the sale, but not as much as the Chameleon.

So the chameleon is being used as the benchmark for over the top premiums. Laughing  That's fine for those of us who purchased it. Little secret here. When you rub the back of the coin, the chameleon's tongue pops out. Shocked Laughing

My next out of this world premium purchase will be the Vault by CIT. Comes in at 3 ounces and it looks spectacular.

Legal Tender and Goldbacks 2023-c10

Bud do you know the price of this coin yet?

IF so I am VERY interested.

PM me and we can talk. I might ask you to buy one on my behalf if that is ok.... Thanks in advance. You saved my bacon once already.
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