1 South Dakota Goldback | Aurum Gold Foil Note (24k)

Most Goldback virtues start from classical statuary. Pax started from a woman the artist watched hoop dance in South Dakota, wearing regalia she had made herself. This is her first appearance in the series, on the 1 Goldback — 1/1000 of a troy ounce of 24-carat gold.

The artwork

Pax, or Peace, is shown as a Lakota woman in traditional regalia, mid hoop dance. The performance was given to the artist while she was researching in the state, and the dancer's explanation of it became the design. The regalia was her own work, and it carried her name, her tribe, her family, her heritage, her stories and her own passions.

She explained the names as well. Lakota, and the neighbouring Nakota and Dakota, are what those peoples call themselves in their related languages, and they mean “The Friendly Ones”. The more widely recognised rendering, Alliance of Friends, runs along a banner towards the foot of the note.

Her account of peace was practical rather than abstract: treat what is around you as friend and relative, whatever the creed, race, age or other difference, and extend that to animals, plants and the elements themselves. The design carries the idea through in detail:

• The sacred Bear Butte formation, Mato Paha, stands in the background.
• Animals surround the virtue rather than sit behind her.
• A traditional cancega drum appears alongside the Sacred Hoop, or Medicine Wheel.
• All seven sacred elements described to the artist are present: land, air, water, rocks, animals, plants and fire.
• A Prairie Crocus, or Pasque flower, sits in the bottom right corner.

That flower earns its place. It is the first plant to bloom in spring and it runs through every stage of its life in a matter of two weeks, a short cycle set against the long line of generations on whose shoulders we stand, and a match for the hoops and the drum. At Pax's feet the note asks the viewer to “Seek Peace”.

Who this note suits

The 1 is the denomination every other value is measured against, and at 1/1000 troy oz it is the smallest outlay in the range. That makes it the sensible way to build a series gradually rather than in one purchase, the easiest note to hand to someone who has never held gold, and a low-commitment first buy if you want to see what a Goldback feels like before going further.

Be clear about the trade, though. At this weight the premium over the gold price is high and it stays high. A Britannia, a Sovereign or a plain bar will give you more gold per pound spent, every time. What you are paying for here is the artwork, the format, and the fact that a thousandth of an ounce can be held at all. If the aim is maximum metal for your money, buy the bar.

UK buyer notes

Yard Mint supplies Goldbacks from UK stock. They are treated as VAT-exempt investment-gold wafers, so there is no VAT to add at checkout.

Goldbacks are not UK legal tender. They can be bought, owned, sold, collected and voluntarily exchanged where both parties agree, but no UK business is required to accept one. They also do not share the Capital Gains Tax exemption that applies to Britannias and post-1837 Sovereigns, which are sterling currency. VAT and CGT are separate questions with different answers.

Resale depends on the gold price, the condition of the note and buyer demand at the time. A collector premium is not guaranteed.

This is general information, not personal tax or investment advice. Tax treatment depends on current rules and individual circumstances.

• Contains 1/1000 troy oz (0.001 oz) of 24-carat gold.
• Grade: (U) Crisp Uncirculated
• Metal content: 0.001 troy oz
• Purity: .999
• Thickness: 0.10 mm
• Size: 6.5 cm x 11.7 cm (2.56 in x 4.62 in)
• Manufactured in the USA.

The South Dakota Series

Each denomination carries its own original artwork and a proportional quantity of 24-carat gold. View all South Dakota Goldbacks or browse every Goldback series.