Live melt value for all Utah Goldback denominations — the only tracker with native Goldback support
The Utah Goldback was introduced in 2019 as part of the Goldback series — a line of voluntary local currency notes containing real 24K gold in a durable polymer laminate. The first state to issue Goldbacks, Utah has the most extensive series with 1, 5, 10, 25, and 50 denomination notes.
Each denomination contains a proportional quantity of pure gold, making melt value easy to calculate. MetalMetric is the only precious metals tracker that supports Goldbacks natively across all issuing states.
| Denomination | Gold (troy oz) | Gold (grams) | Melt Value at $3,000/oz |
|---|---|---|---|
| 1 | 0.001 troy oz | 0.0311g | $3.00 |
| 5 | 0.005 troy oz | 0.1555g | $15.00 |
| 10 | 0.010 troy oz | 0.3110g | $30.00 |
| 25 | 0.025 troy oz | 0.7776g | $75.00 |
| 50 | 0.050 troy oz | 1.5552g | $150.00 |
Goldbacks offer fractional gold ownership at denominations far smaller than most coins or bars. A 1-denomination Goldback at 0.001 troy oz is one of the smallest units of physical gold available. However, the significant premium over melt value means Goldbacks are better understood as a novelty/local currency product than a pure bullion investment.
For pure gold bullion at low premiums, compare Goldbacks to gold rounds, gold bars, and the 24K gold melt value calculator.
MetalMetric is the only precious metals portfolio app that tracks Goldbacks natively — across all states and all denominations. Add your Utah Goldbacks to your vault and see live P&L, cost basis, and melt value alongside your other metals. Open your free vault →
The value of a Utah Goldback depends on its denomination. A 1-denomination Goldback contains 1/1000th troy oz of 24K gold. At $3,000/oz gold spot, a 1-denomination Goldback has a gold melt value of $3.00. A 50-denomination contains 50/1000th oz (0.05 oz) worth $150.00 at $3,000/oz. Use the live calculator above for today's exact values.
Goldbacks are voluntary local currency notes made from a thin layer of 24K gold encapsulated in a durable polymer film. They were first introduced in Utah in 2019 and have since expanded to multiple states. Each denomination contains a proportional amount of pure gold — 1/1000th troy oz per 1-denomination note.
Each Utah Goldback denomination contains: 1-denomination = 0.001 troy oz (1/1000th), 5-denomination = 0.005 troy oz, 10-denomination = 0.01 troy oz, 25-denomination = 0.025 troy oz, 50-denomination = 0.05 troy oz. All gold is 24K (99.9%+ purity).
Utah Legal Tender Act (2011) recognizes gold and silver as legal tender. Goldbacks are voluntary — they are accepted wherever merchants choose to accept them. They are not federally recognized legal tender but function as a commodity-backed local currency.
MetalMetric is the only portfolio tracker with native Goldback support, tracking all denominations across all issuing states including Utah. Add your Goldbacks to the free vault at metalmetric.com/vault to see live P&L and melt values.
Yes — Goldbacks typically trade at 30-80% above their gold melt value due to production costs, novelty, and collector/local currency demand. The melt value shown above represents the intrinsic gold floor value only, not the market trading price.
All Goldback series use 24K gold and the same denomination structure. The difference is the artwork and issuing state.
| State Series | Launched | |
|---|---|---|
| Utah Goldback | 2019 | Calculator → |
| Nevada Goldback | 2020 | Calculator → |
| New Hampshire Goldback | 2021 | Calculator → |
| Wyoming Goldback | 2021 | Calculator → |
| South Dakota Goldback | 2022 | Calculator → |