alt Hacker NewsHow do goldbacks fit into this? They contain gold (up to 3 grams, a non-trivial amount), they are accepted by a (small) number of businesses, and they are supposed to be reused for further transactions.
How do goldbacks fit into this? They contain gold (up to 3 grams, a non-trivial amount), they are accepted by a (small) number of businesses, and they are supposed to be reused for further transactions.
If you were prosecuted under 18 USC §486 for manufacturing or spending goldbacks, you'd presumably be relying on the argument that, while they are gold intended for use as current money, they aren't "coins".