Intro to GOLDBACK with Rich Rudnick

Monday, Feb. 26. 2024 at Lyfe Public House

What a great presentation by Rich Rudnick and Gary Barsdorf! We learned about the Goldback®, the world’s first physical, interchangeable, gold money. For the first time in human history we can spend physical gold on small and large transactions. This solves the 2,600 year “small coin” gold spending problem. During this Knowledge Session, we heard about the uses, the states that have approved the sale of, and the two decades worth of technology and other development involved in the creation of Goldback®.

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Rich Rudnick – CEO / Head Sales Coach, SmartSalesSolutions and CDA distributor of Goldback®.

GOLDBACK Authorized Partner


[email protected]

Gary Barsdorf – Business Development | Strategic Partnerships at Alpine Gold Exchange

Alpine Gold Exchange – 333 South Main Street, Alpine, UT 84004

888.210.8488 (ofc.) | 385.230.3284 (cell)

What follows is purely for informational purposes only. Please reach out to Rich Rudnick for more specific information on Goldback and only take financial advice from your trusted financial professional. Nothing on this page should be construed as financial advice.

Money vs Currency – Hidden Secrets Of Money Episode 1 – Mike Maloney –

Join our GOLDBACKS are Coming to North Idaho Facebook Group:

UPMA membership (Order GOLDBACK and have them shipped to your door):

Goldback Main Website:

Alpine Gold:

Answers to the most common questions about Goldback:

How is GOLDBACK made? 

Goldbacks are made by atomically depositing pure 24karat gold on a layer of polymeric material to a precise thickness, quality and quantity according to the face value of the Goldback note (GB1, 5, 10, 25 & 50) being manufactured. 

1/1000oz = GB1 

1/200oz = GB5 

1/100oz = GB10 

1/40oz = GB25 

1/20oz = GB50 

As the molecular thicknesses of the pure 24kt gold are fragile, a second sheet of polymer is vacuum sealed over the gold deposition, to make the note durable, for use as a fungible, voluntary private currency. The supply chain and manufacturing process requires about 60 days from including acquisition of the pure gold shot, to the packaging and shipment of the finished product. 

From ChatGPT: 

Goldbacks are a form of private, voluntary, local currency that are made using a unique and intricate process. Here’s how they are typically made: 

1. Design: Goldbacks feature intricate and beautiful designs that often reflect local or historical themes. These designs are created by skilled artists and engravers. The artwork is an important part of the Goldback’s appeal and identity. 

2. Printing: Goldbacks are typically printed on a special type of polymer material, which is more durable than traditional paper currency. This material is chosen for its longevity and resistance to wear and tear. 

3. Metallization: After the initial design is printed, a thin layer of gold or other precious metal, usually less than 1/1000th of an inch thick, is applied to the surface of the currency. This process is known as “metallization,” and it gives the Goldback its distinctive gold appearance. 

4. Security Features: To prevent counterfeiting, Goldbacks may incorporate various security features, such as holograms, microprinting, and UV-responsive ink. These features help ensure the authenticity of the currency. 

5. Serialization: Each Goldback typically has a unique serial number, which can be used for tracking and verification purposes. 6. Packaging: Goldbacks are often packaged in protective sleeves or holders to keep them in good condition and to prevent damage during handling. Goldbacks are unique in that they are designed to be a form of private, decentralized currency, often backed by gold or other precious metals. They are not typically issued by governments but are created and distributed by private companies or organizations. These companies may have their own unique processes for creating Goldbacks, but the above steps are generally involved in their production. Please note that the exact details of Goldback production may vary depending on the issuer.

When will Idaho have their state Goldback? 

The process is in motion. The best projection is Fall of 2024. 

Can I use other state Goldback currencies in the meantime? 

Yes, and ongoing after Idaho receives its official state Goldback. Currently, the following states have their own Goldback in circulation: Nevada, Utah, Wyoming, New Hampshire. 

How does a state qualify for Goldback? 

1- To qualify a state must recognize Gold and Silver as legal tender. 

2- a business network of local businesses needs to form where the Goldback can circulate. 

3- Money needs to be allocated to develop the Goldback. Idaho has passed all three hurdles and along with South Dakota and Oklahoma; will also have their state specific Goldback soon. 

Can the Federal Government shut down Goldback currencies? 

The Goldback is complementary and not in competition with the dollar. You can use both! The Goldback is avoiding mistakes made by other local currency projects like the liberty dollar: making the currency vertical, not using national symbols, includes the term ‘not US dollar’, only state symbols used. The Goldback is done legally under the State Legal Tender Act of 1862 which mandates that states should only make silver or gold backed tender. 

Each Goldback: 

1- Passes the uniform commercial code 

2- Is a legal instrument certificate valued as a legal instrument circulating in commerce 

3- Can’t be seized by the Fed unless every other legal instrument is (ie. Checks, mortgages etc.) and must go through the Governor and National Guard first. 

How do I transfer dollars or credit card into Goldback? 

There is a Goldback Calculator and will convert your dollar- credit or debit card into Goldback. This process takes approximately 24 hours.  

How do I transfer Goldback’s into dollars (USD)? 

Two scenarios: 

1) Physical GB can be presented at any AGE Branch location for immediate conversion into US$ paper. Checks take a couple of days due to approval processes and availability of check signatories. There is a 5% “restocking fee” imposed on physical GB coming back INTO the network. We’d prefer to have the GB remain in circulation – hence the fee. No limit to physical redemptions (due to the 5% fee) but notice ahead of large redemptions is appreciated. 

2) GB held in members’ UPMA accounts can be instantly converted back to US$, however, ACH, Wires or Checks, can take a few days to a week to process. Loading UPMA member’s True Link pre-paid visa debit card is another option for redemption of GB for US$. Loads are sometimes accomplished the same day or certainly by the next day. up to US$10K can be redeemed without buy-sell spread (at the daily member’s rate), more than US$10K up to US$100K incurs a 5% fee. above US$100K fees could be as much as 15% depending upon the day. 

If this is new to the area, how do we get the word out to other people so this becomes viable? Initially, this will spread organically by word of mouth from each new Authorized Partner (Business Owner) community leader educating and advertising to their center of influence. Momentum will take place as meetings, event displays and greater community awareness rolls out. You can be a pioneer and integral part of making a difference by launching Goldback into North Idaho and say YES to being an Authorized Partner/Goldback Accepting Business Owner Today! 

What is the difference between Authorized Partner and Member? 

Regular UPMA members’ referral bonuses are capped at US$1,000 PER YEAR and AUTHORIZED PARTNERS have no cap on commission. However, AP’s must complete a W-9 to account for commission paid as an operating cost for tax purposes. AP’s can receive business cards and logo wear etc. to help when interfacing the public. AP’s acknowledge a monthly/annual commitment to sign up businesses (2 per month), and/or bring in new investment ≥$50K/year. 

Answers to North Idaho Business Owner questions

How does Goldback protect themselves from being hacked and counterfeited? 

Counterfeiting will cost more than the intrinsic value of the note. Each Goldback is serialized, and the serial number database will soon be available in the rain cloud. 

How do most companies handle the fee to convert to USD or do most not do that? 

Converting Goldback to US$ is not advisable. US$ is backed by the good faith and credit of the People of the United States, which good faith and credibility can be extinguished on a whim by Fed Reserve or other governmental fiat action. 

Do most businesses just store and keep their Goldback? 

Receiving a Goldback is like making an investment in your future. Sound money will always trump a currency which by government fiat, is destined to failure. 100% of FIAT currency has failed over time. Store your Goldback, circulate them by using in your supply chain, resell them, keep them in circulation. Sound Money with verified intrinsic value prevails over fiat anytime. 

How does the bookkeeping process work (or complicated) when using Goldback? 

As a special legal tender instrument / voluntary private currency being substituted for US$, capture the required sales tax and record in your accounting system the net US$ value received for the product or service sold. For internal tracking, reporting and analysis purposes, we recommend adding a coding element to Goldback-related transactions in your POS and accounting software. Here you could choose to use the day’s Goldback Exchange rate published on, or any other value you have agreed to offer your customer. 

Operationally, it may be useful to have a display card posted at each cash register (and/or) at your customer service desk, the day’s Goldback exchange rate. Such discreet publicity is bound to lead to customer inquiries which could be directed to the customer service desk equipped to resell Goldbacks received which are allocated for re-circulation vs stacking for preservation of value. 

With the Idaho House approving Goldback and waiting or the Senate to vote, can we transact in Goldback in the interim? Goldback, Inc. is sufficiently confident that the appropriate laws will be in place in Idaho by the time a Goldback State Series is issued for Idaho, that they have asked Alpine Gold Exchange to start the process of recruiting merchants who would be willing to accept Goldback in full or partial payment for their goods and services. 

We review the “Sound Money Index” maintained by Money Metals: (please go to the state listing and expand the Idaho line item for an explanation of the point scoring system ranking #11 out of 50 with a score of 36/100). 

Idaho Statute 63-3622V 


1. While one can’t pay ID State Property taxes, permits and licenses etc due to gold and silver (incl. Goldbacks) not (yet) being recognized as legal tender, there is no sales tax on gold and silver in the state – which makes gold and silver trading/exchange feasible. 

2. Gold and silver exchange is NOT illegal – even if it is not legal tender in the State. 

3. Goldback State Series can in fact be issued in the state of Idaho because as a voluntary private money, not subject to sales tax as a product, can be used in commerce by mutual agreement between the exchanging parties. 

(This is not meant to be legalese – and IS NOT AN OFFICIAL STATEMENT but instead, is a statement made from the perspective and understanding of Gary Barsdorf from Alpine Gold). 

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