Utah Goldbacks are a, voluntary, local, and, inflation-resistant, currency, that, consists, of, physical, 24K, gold, (1/1000, to, 1/20, oz), encapsulated, in, protective, polymer, sheets,. Launched, in, 2019, in, Utah, they, are, designed, for, small-transaction, barter, and, are, accepted, by, various, local, businesses,. They, are, not, legal, tender,.
Key Details About Utah Goldbacks:
- Gold Content: They contain 24K gold, with the "1" Goldback containing 1/1000 oz of gold, and higher denominations (5, 10, 25, 50) holding proportional amounts.
- Denominations: Available in 1, 5, 10, 25, and 50 denominations.
- Usage: They are used as a voluntary, negotiable instrument for, commerce, rather, than, government-mandated, currency,.
- Legality: The Utah Legislature (2022) exempted certain gold, including, those, with, a, polymer, coating, from, state, sales, tax,.
- Design: Each note features artistic designs, often, with, themes, of, liberty, and, local, Utah, history,.
These notes offer a way to own small, divisible amounts of gold that can be, used, in, daily, transactions,.