Here in the Intermountain West, in this state, Gold is considered legal tender, if needed.
Have you heard of the Goldback? It's a currency that is made into similar sizes as denominated dollar bills. It is made of some kind of sturdy laminate ("polymer sheeting") with real gold infused into the polymer, by a calculated portion of a troy ounce of gold. The value of the individual Goldback is tethered to the market value of gold.
The purpose of the Goldback is to be used in smaller transactions than the typical value of a Gold coin.
https://www.goldback.com/how-goldbacks-are-made
Some businesses have agreed to take Goldback in commercial transactions.
One Goldback, embedded with 1/1,000th of a Troy Oz of 24 karat gold.
Actual Size
~4.625in (~11.74cm)
~2.57in (~6.53cm)
In the website's FAQs (frequently asked questions), it says, "The Goldback may be owned by individuals in any State, however, Goldbacks would only qualify as an actual currency where authorized by local or state law."
FYI: Sometimes people accept Goldback in a transaction regardless of legal standing because gold in and of itself, has value.
Several states already have Goldback: Utah, Nevada, New Hampshire, Wyoming, and South Dakota. Other States could be in the works in the future, and the company will consider working with individuals who want to see Goldbacks in their State.
Also there is a lesser amount of Silverbacks.
Other places in the world have their own polymer golden currency. See https://valaurum.com/
Available for Hanukkah or Christmas
Legal Tender in Ghana
Anyways, this post isn't just about Goldbacks or Silverbacks. Other people may prefer the ownership of gold or silver coinage. I would not recommend buying gold or silver on paper and then not having it in your physical possession.
Anyways, I am not necessarily pushing Goldback or Silverback. I am just talking about Goldback to show that a small group of people got an idea about it, and did something! We all know that the Dollar is not what it used to be!
It would be cool if a bunch of righteous people could get together, and somehow, get a large amount of precious metals and lower metals (for currency under One Dollar), and mint a large amount of these coins (with security of course to protect the assets), and get a bank chain going out here in the West, to introduce a larger amount of precious (non inflationary metals) into the community. But this bank would be run under different rules: Only good people can open an account (with some kind of background check to assure that the people aren't likely to use the gold for greed, drugs, and other things which are harmful for the human race). Large amounts would only be loaned out by a loan officer who will check out the reason for the loan (proof produced). People could exchange their US currency for precious metals, and then the Bank owners could use the US currency to buy up land and other wise commodities to help the people of their State.
The purpose of allowing only decent people to do this should be obvious, but in case it isn't, people who use money to do things that are bad for themselves and bad for others, is one of the things that leads to society being sick, especially when it comes to greediness, crime, and rich and poor. Gold is precious. Why put a monetary precious item into the hands of greedy, spiritually sick people? They won't do good with it. We need only good and charitable-minded people to have such wealth.
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