Originally Posted by rockinbbar
Okay...

If my math is simply halfway correct:

Gold = $1820 per oz.

Goldback = 1/1000th of an ounce

Goldback cost = $3.79...... X 1000 = selling gold at $3790.00 per oz.

Where can I find these folks so I can instantly double the value of some gold I may have tucked away? laugh


Spot and the actual gold price are two different things completely. Try to walk into a coin shop and buy an ounce of gold in any form for anything like spot. You're also paying for the cost to put it in that form. But that's recoverable on the trade, so it doesn't matter.

For comparison, check out this one ounce gold coin: Link