GOLDBACK
GLOSSARY
A goldback is an alternative form of currency that is a bill, or note, made of polymers that is physically backed with 24 karot gold. One goldback contains 1/1000th, or 0.001, troy ounces of 24 karot gold.This suggests that the goldback will retain its spot, or melt, value even if the collectability of the goldback crashes.A goldback is effectively fractional shares of 24 karot gold that is legally sanctioned by some states in the USA. They can be accepted as an alternative form of currency at some merchants, but are not legal tender.
A karat is a system used to measure portions to denote the fineness of an alloy. Different parts of the world use different systems.10 karat, or 10KT, gold would be an allow that is 41.7% gold. Another way to phrase this would be to say that there are ten parts per twenty four parts that is gold. 24 karat gold would be 24 parts of 24 parts gold, meaning the gold is pure.
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Goldback Inc, UPMA, Alpine Gold, Defy the Grid, Money Metals, APMEX, or SD Bullion.Definitions are not guaranteed to be accurate. Seek a qualified professional for financial advice before investing.backs.GOLD ©2025