Introduction to Wyoming Goldbacks
Wyoming, the Cowboy State, joined the ranks of innovative currency adopters with the introduction of Wyoming Goldbacks in 2022. These gold-infused notes fuse the intrinsic value of 24-karat gold with the usability of paper money, offering a voluntary alternative to fiat currency.
With a legacy of independence and a legislative nod to precious metals, Wyoming is a fitting home for this unique currency. This article explores the history, design, value, and growing appeal of Wyoming Goldbacks, optimized for search engines with key insights and an authoritative resource.
What Are Wyoming Goldbacks?
Wyoming Goldbacks are thin, flexible notes made by embedding .999 fine gold between layers of durable polyester, a process pioneered by Valaurum, a private mint. Each note contains a specific amount of gold, ranging from 1/1000th of an ounce in the 1 Goldback denomination to 1/20th of an ounce in the 50 Goldback. Available in five denominations—1, 5, 10, 25, and 50—they make gold accessible for small transactions.
As a voluntary currency, Wyoming Goldbacks are not legal tender but are accepted by businesses and individuals who value their gold content. They embody the principles of “sound money,” providing a stable alternative to inflation-prone fiat dollars.
The History of Wyoming Goldbacks
Wyoming Goldbacks launched in July 2022, making Wyoming the fourth state to adopt the Goldback model after Utah (2019), Nevada (2020), and New Hampshire (2021). The move aligns with Wyoming’s pro-precious metal stance, solidified by the 2018 Wyoming Legal Tender Act, which recognizes gold and silver as legal tender and exempts them from state taxes—a framework similar to Utah’s pioneering legislation.
Goldback, Inc. chose Wyoming for its sparse population yet strong libertarian streak and resource-rich economy, including gold mining in areas like the South Pass. Since their debut, Wyoming Goldbacks have gained a foothold among residents and businesses, reflecting the state’s rugged individualism.
Features and Design of Wyoming Goldbacks
Wyoming Goldbacks are both practical and visually striking, with designs celebrating the state’s heritage and values:
- 1 Goldback: Reverentia (Reverence), depicted as a Native American woman with a buffalo, honoring Wyoming’s indigenous tribes.
- 5 Goldback: Audentia (Boldness), shown as a cowgirl with a lasso, reflecting the state’s cowboy culture.
- 10 Goldback: Fortitudo (Fortitude), featuring a trapper in the Tetons, symbolizing resilience.
- 25 Goldback: Justitia (Justice), portrayed with scales and a sword against a frontier backdrop.
- 50 Goldback: Libertas (Liberty), holding a torch with wild mustangs, embodying Wyoming’s free spirit.
These gold-flecked designs elevate Wyoming Goldbacks into collector’s items while rooting them in the state’s identity.
Are Wyoming Goldbacks Legal Tender?
Wyoming Goldbacks are not federal legal tender, as they’re privately issued, but they benefit from state-level support. The 2018 Wyoming Legal Tender Act classifies gold and silver as legal tender for debts and taxes, and removes capital gains tax on their sale.
While this law applies to coins rather than Goldbacks explicitly, it creates a favorable environment. They function as a voluntary currency, accepted by merchants who opt in, or as a barter tool valued for their gold content.
The Value of Wyoming Goldbacks
Tied to gold’s spot price, Wyoming Goldbacks have intrinsic worth:
- 1 Goldback = 1/1000 oz
- 5 Goldback = 1/200 oz
- 10 Goldback = 1/100 oz
- 25 Goldback = 1/40 oz
- 50 Goldback = 1/20 oz
With gold at approximately $2,000 per ounce in February 2025, a 1 Goldback’s gold value is about $2, though retail prices typically range from $4-$5 due to production costs and collectibility. This makes them a hedge against inflation, a point praised on X where users call them “Wyoming’s answer to shaky fiat.”
Why Use Wyoming Goldbacks?
Wyoming Goldbacks offer distinct advantages:
- Portability: Lighter and more convenient than gold coins or bars.
- Divisibility: Suitable for small purchases, unlike bulkier bullion.
- Durability: Polymer encasing ensures longevity.
- Local Pride: Designs celebrate Wyoming’s culture, fostering community use.
- Sound Money: Provides stability amid economic uncertainty.
Nearly 40 businesses across Wyoming, from Cheyenne to Jackson, accept them, with adoption growing steadily.
Where to Buy Wyoming Goldbacks
Wyoming Goldbacks are widely available:
- Alpine Gold: (Recommended) Purchase directly at alpinegold.com, the official source, which also lists retailers.
- Online Dealers: Sites like APMEX (apmex.com), JM Bullion (jmbullion.com), and Hero Bullion (herobullion.com) offer them.
- Local Vendors: Wyoming coin shops and Goldback-accepting businesses stock them; check Goldback, Inc.’s retailer map.
- Secondary Markets: eBay and precious metal forums list them, often at a premium for rarity.
Prices vary with gold’s market rate and demand, so shopping around is advised.
The Future of Wyoming Goldbacks
Since their launch, Wyoming Goldbacks have contributed to the broader Goldback movement, with over 8 million notes produced across all states by 2025 (per Goldback, Inc.). Their success in Wyoming ties into the state’s gold-friendly laws and independent mindset. As inflation persists—up 20% cumulatively in the U.S. from 2020-2025—they could see wider use, potentially inspiring nearby states like Idaho or Montana to join the fold.
Conclusion
Wyoming Goldbacks blend the Cowboy State’s pioneering spirit with a modern take on gold-backed currency. Whether you’re a collector, an investor, or a resident seeking economic resilience, they offer a compelling alternative to fiat money.