- Jun 25, 2020
- Reaction score
I am pretty sure that just about anyone with a heat sealer, a printer, some brass foil and a little effort can closely replicate a goldback that is indistinguishable from the 'real' deal- especially if gold goes to $10,000 an ounce. And what is the scrap value of a goldback of any denomination really worth if someone tries to open it up to assay it? Then there's the question of whether or not the things are real from the factory. Don't know how many of them have already been sold but if any of them are discovered to be fakes or of less gold than the stated amounts, the project as you say would no doubt die instantly. But the promoters would have already made quite a haul. Humans can be very clever.
I'm not trying to piss in anyone's Cheerios here, just trying to keep it real.
First time I've read something like this. The Goldback has six high-tech anti-counterfeiting features on the front that can't just be photo-copied or replicated with designware. The same level of stuff used on $100 bills. The better anti-counterfeiting feature is the negative image on the back. Also, you can read the serial number on the front to the back. Gold itself has a specific luster that wouldn't be possible to copy with a copper metal either. In fact, keeping it all together would be neigh impossible. These elements combined make counterfeiting a daunting task.
It took 30 years to develop the technology to make Goldbacks. From a conversation that I had with Adam Trexler (president of Valaurum) yesterday it would take the world's leading experts in vacuum deposition about $5,000,000 and 8 years to make a realistic copy of a Goldback. It is unlikely since he knows them all.
There is much much lower hanging fruit for counterfeiting than Goldbacks. The Chinese can get $30,000 worth of equipment and make fake gold bars tomorrow. It isn't impossible that someone will try to fake one someday but it helps to be about a decade ahead of that problem.
You are absolutely right though, if any of them ever failed an assay then the whole thing would be over immediately.