Idaho Goldbacks

This past March the first Idaho Goldbacks were issued. A Goldback is a physical gold note containing real 24 karat gold that can be used as currency, an investment, or as a collectible. Each note contains a precise amount of gold tied to its denomination, and the artwork in the Idaho Goldback Series highlights a different virtue or historical theme connected to the state’s heritage.

Verbatim:

This is because Russ Hendricks from the Idaho Farm Bureau came to my office about 2 1/2 years ago and said, hey Julie, have you seen these? There's a nexus with gold backs because I am the treasurer of the state. And he says, why don't we have an Idaho one? And that put the whole thing into motion. I began to research it. I found out that  private entities, private money pools together to create the Goldbacks. And it really did start with the Idaho Farm Bureau.

A Goldback is a physical gold note containing real 24 karat gold. Each note contains a precise amount of gold tied to its denomination.

In Idaho, we have nine different denominations.

They range from a ¼ note up to a 100 note, making them both collectible and intrinsically valuable as a form of physical gold.

They're so beautiful that I would only collect them, but they definitely, are something that people are buying because they can't keep them in stock.

States have sets of gold backs, and not every state has them yet, but each state is trying to design them. They are an instrument that can be used to trade. They follow the value of gold on the market, and people have used them for currency.

Gold has always been recognized as a hedge against inflation, and this gives citizens  another opportunity to protect their assets and also use them for everyday purchases at the growing number retailers who accept them.

Each denomination in the Idaho Goldback Series highlights a different virtue or historical theme connected to the state’s heritage.

Each Goldbach tells a story, each denomination. It's trying to tell the story of your state. And that's where I was just very honored to be involved.

This is all private investment. There was no state money involved in getting it started.  It was me personally on my cell phone working with people back and forth.

Ellsworth was consulted on the development of the designs

Each Goldback has a woman pictured on it because women are traditionally associated with virtues in art.

(Justice, Devotion, Faith, Community, Stewardship, Perseverance, Knowledge, Patience, Liberty)

Each of them gives you a rich walk into the history of Idaho.

 And I hope the people of Idaho enjoy their heritage.

They were first issued this past March, and depending on the demand more will be made.

When I saw the finished designs, I thought spot on. You know, this represents our character. The choices and the virtues that we've selected, and they laid out very much represent our character in Idaho, and I love that.