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Friday, December 4, 2020

Gun of the Day

 

Standard gambler's accoutrements: derringer, stabby thing and cash - Tamara Keel

The cash are Goldbacks, which are legal currency in Utah. The bills incorporate a tiny amount of gold, so their value is based on how much gold they contain and the current price of gold. Gold right now is somewhere around $1800 an ounce and a single Goldback costs about $3. The bills contains 1/1000th of an ounce of gold or about 1/30th of a gram. Like I said, a tiny amount of gold. 

I can't see this as being practical for everyday expenses since you are going to need to check the current price of gold every time you want to buy anything, unless whoever is doing the selling is pricing things in Goldbacks. That might become a real thing if inflation ever becomes hyper.

Goldbacks could be a good way to save money. They are not going to affected by inflation and they are cheap enough that could buy a few every week. Krugerrands are a good hedge against inflation too, but you aren't going to be buying those out of pocket change. Well, you might, but I ain't. Goldbacks cost about twice as much as the gold they contain. They have to cover the cost of printing as well.


2 comments:

mac.mcgovern said...

And the derringer?

Chuck Pergiel said...

Ask Tam - https://booksbikesboomsticks.blogspot.com/2020/12/cybercrunk.html