Goldback Podcast Ep. 4 Recap: The Gold Standard Isn’t What You Think It Was!

In Episode 4 of The Goldback Podcast, hosts Jeremy Cordon and Jeff Meigs tackle a question that appears frequently in the gold community: How do Goldbacks measure up against the classic gold standard? 

Together, they take a fun, deep dive into history. They compare the value of money a century ago versus today, unpack the pressures that caused the gold standard to unravel, and examine how the Goldback offers a modern approach to sound money.

Podcast Highlights

1. Upcoming Releases

Before diving into economic history, Jeremy and Jeff kick off this episode with two announcements. They tell us when the next Silverback in the Legends of Olympus series is coming, and how the next Goldback state will be announced. 

2. How Do Goldbacks Today Compare to Money 100 Years Ago?

When people compare Goldbacks to traditional bullion, Jeremy and Jeff point out that it helps to look at how money functioned a 100 years ago. By converting 1920 prices to today’s purchasing power, the numbers reveal just how much the economy has changed. Jeremy also breaks down how a 1/4 Goldback is equivalent to a single copper penny in 1926.

3. How Did the Gold Standard Work?

The hosts cover a broad history of the gold standard, showing the evolution from minted metal coins to gold certificates and Federal Reserve notes. They explain how the monetary system worked in practice and where its vulnerabilities were. The episode also tackles seigniorage—the profit mints made when producing coins—and examines how those economics quietly set the stage for precious metals to disappear from daily transactions.

4. What Goldbacks Are Doing Differently

So how do Goldbacks compare to the gold standard? While both systems center around gold as a medium of exchange, Goldbacks put physical gold in circulation and in your hands. Jeremy and Jeff explain how Goldbacks continue to evolve through technological improvements, an expanding merchant network, and community feedback.

“If you’re gonna make a new system, you should probably try to make it better.” — Jeremy Cordon

Want to hear the full conversation? Listen to the episode to hear the hosts debate whether everyday workers could actually afford eggs in 1926, how the value of the Goldback has changed since 2019, and what musical chairs have to do with the gold standard.