A step in the right direction insofar as reproduction cost is concerned. https://www.jmbullion.com/1-gram-goldnote-bar/ But the second problem is Gresham's law. People will use fiat for transaction so long as it is available. Only if/when fiat is completely unavailable will people turn directly to precious metals for transactions.

After further thought, I am somewhat bearish on Goldback Inc long term, but my thoughts do go back and forth. For the short term, I think it is at least a positive novelty, and can't do any harm. It certainly has some potential for facilitating exchange. ...See more

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