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This draft has been resubmitted and is currently awaiting re-review. |  |
| Industry | Precious metals |
|---|---|
| Founder | Adam Trexler |
Valaurum is a that produces and distributes banknote like gold notes, most notably the goldback. The company was created by Adam Trexler in 2012.[1][2]
History
editValaurum was created in 2012 by Adam Trexer. Adam created the company after he learned about a method to print using gold.[2]The company started by selling in the United States and Canada. It eventually expanded into countries that have unstable currencies, where it was able to take hold quite well; with some companies, such as a business in Suriname, buying thousands of the companies gold notes.[3]
Products
editGold
editValarum's main product is the goldback, which is a sheet of gold which is printed at an atomic scale for precise measurement and weight, between two sheets of polymer. The Goldback's designs are based on various states, such as Utah (Released in 2019) , Nevada 2020 , New Hampshire 2020 , Wyoming 2022 , and South Dakota 2023. The Goldback Wallet made specifically for Goldbacks was introduced in 2020. It can be purchased in the colors Black or Brown and is made of Leather, with the GB letter logo for Goldback on the front and a magnetic clip lock in the center. The Wallet is in a portrait orientation. Another product is the Aurum, which is a note similar to the goldback. The Aurum is printed in a Landscape View while The Goldback is printed in the Portrait View. Each State has its own set of Goldbacks with the denominations of $1, $5, $10, $25, and $50. Each state denomination has a different photo of a Native American Female with their name which is related to an American Value or Attribute suitable of and known for that state. The $1 is 1/1000th of an ounce of gold. The $5 is 1/200th of an ounce of gold. The $10 is 1/100th of an ounce of gold, the $25 is 1/40th and th $50 is 1/20th of an ounce of gold. Goldback and Valaurum decided to make sure to print each bill with 5% more gold than the actual stated amount. Goldbacks have an average of 93% markup (not exactly spot). Today, July 16th 2024, $1 Goldback lists on goldback.com/exchange-rate for $5.12. Some dealers have them for under $4.80. With Gold price at $2,472.88 per ounce ($77.2775 @ 32 Grams)/ $79.50 per gram this makes 1/1000th or 0.0283495231 grams equal of an ounce of gold itself worth $2.19 (.001 Ounce) at the Oz price or $2.25 at the Gram price. This makes an Oz of Goldbacks cost between $4,800 and $5,130 on this date. Goldback.com claims to have printed 27.9 Million Goldbacks by Q1 of 2024. They say the 27.9 Million printed have a value of $135 Million and have been purchased by 1,470,000 customers. Goldback.com and Alpine Gold direct their Goldback Lease option to UPMA (United Precious Metals Association). Goldback, Valaurum, UPMA, and Alpine Gold all work together. Alpine Gold Exchange sells precious metals to UPMA and provides vaulting services for UPMA accounts. Goldback owns Valaurum, and Valaurum prints the notes. Goldback also owns GoldATM.com, and are partnered with Alpine Gold and Monetary Metals.
Silver
editValarum has one silver based product, which is the silverback. It uses simmilar technology as the goldback, but it contains silver instead of gold. In 2022, the company BullionMax launched a sweepstakes giving away 10,000 silverbacks. They have had two editions so far known as the Purple Series and Red Series.[4]
References
edit[5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21]
- ^ "About Valaurum". Valaurum. Retrieved 2024-02-27.
- ^ a b "Oregon entrepreneur aims to create a new way of trading with gold". opb. Retrieved 2024-02-27.
- ^ Stutzman, Mary (April 2016). "Gold Hard Cash". Oregon Business Magazine. 39 (3): 6–7.
- ^ PR Newswire (2022-10-14). "BullionMax Launches 10,000 Silverback Sweepstakes In Bid For World's Biggest Silver Give-Away: BULLIONMAX-new-launch". PR Newswire US.
- ^ "Currency Made of Actual Gold Hoping to Reach Nevadan's Wallets". 7 March 2024.
- ^ "Hedge Against Inflation? Alternative Currency "Goldbacks" Catching On…".
- ^ https://www.businesswire.com/news/home/20240524816960/en/GoldATM%E2%80%99s-Momentum-and-Growth-Continues-with-Launch-of-Online-Store
- ^ "ZiG Hits Streets as Zimbabwe Starts Circulating Gold-Back Notes". Bloomberg. 29 April 2024.
- ^ "GoldATM Premiers New ATMs at ATMIA 2024". 12 February 2024.
- ^ "Goldback: A Local Gold Currency for Everyday Spending?". 9 March 2024.
- ^ https://www.abc4.com/news/heres-how-utahns-can-get-real-gold-out-of-atms/
- ^ https://www.businesswire.com/news/home/20240613187935/en/GoldATM-Enters-Miami-as-Consumer-Interest-in-Goldback-Bills-Continues-to-Grow
- ^ "Interest in "goldback" currency may be growing with inflation". 25 November 2022.
- ^ "A new way of trading and spending gold is catching on in the Mountain West". 2 December 2022.
- ^ "Amid inflation, a new gold currency is trending in Wyoming". 6 December 2022.
- ^ https://www.businesswire.com/news/home/20240227782566/en/CORRECTING-and-REPLACING-PHOTO-GoldATM-Reports-Rapid-Interest-and-Uptake-Following-Installation-of-Initial-Gold-ATM-Kiosks
- ^ https://www.businesswire.com/news/home/20240212235102/en/GoldATM-Provider-of-the-World%E2%80%99s-First-True-Gold-ATMs-Premiers-New-ATMs-at-ATMIA-2024
- ^ "GoldATM installs 11 ATMs in Nevada". 3 April 2024.
- ^ "BullionMax Launches 10,000 Silverback Sweepstakes in Bid for World's Biggest Silver Give-Away" (Press release).
- ^ "Goldbacks, world's first currency with pure gold in its bills (And its spendable)". 27 August 2020.
- ^ "The Goldback: An Alternative to Fiat Currency?". 7 August 2020.
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