Founder of a Spendable Gold Currency
Jeremy Cordon is the Founder and President of Goldback Inc., the company behind one of the world’s first physical, spendable, interchangeable gold currencies. While the financial world has spent the last decade obsessed with digital scarcity (Bitcoin), Cordon went the opposite direction: using cutting-edge “vacuum deposition” technology to turn physical gold into a transactable medium. He hasn’t just created a novelty item; he has built a parallel economy with over $200 million in circulation and acceptance at thousands of small businesses across America.
Blue‑Collar Roots to Billion‑Dollar Lessons
Cordon’s roots are in the blue-collar grit of Oregon, where he grew up the son of a roofer. His perspective on wealth and poverty was forged during a mission trip to Mexico City, where he witnessed people living joyfully despite extreme financial constraints. Returning to the U.S., he demonstrated early entrepreneurial instincts, buying his first rental property at age 21—a move that allowed him to pivot into the precious metals industry for just $10 an hour initially.
His journey to the Goldback was paved with what he calls “colossal failures.” His early ventures—including a gold-backed cryptocurrency called “Quintric” and a novelty currency project—struggled to gain traction. The market feedback was brutal but clear: customers didn’t want digital promises; they wanted physical possession. “If you don’t hold it, you don’t own it” became the mantra that killed his tech startups but birthed the idea for the Goldback.
“You’re not going to get a toothpick at spot wood… That doesn’t mean big toothpick is ripping you off. It just costs money to make a toothpick different than a 2×4.”
– Jeremy Cordon
Solving Gold’s Divisibility Problem
Founded in 2019, Goldback Inc. solves the “10-ounce bar problem.” While gold is a great store of value, you can’t shave off a sliver to pay for a haircut. By utilizing nanotechnology to sputter gold into polymer notes, Cordon created a product that solves the divisibility problem of precious metals.
Choice, Production Economics, and Community Adoption
- Voluntary Currency: Money shouldn’t be forced; it should be a choice. Goldback operates legally under the Uniform Commercial Code (UCC) and state-specific legal tender laws (like in Utah).
- The “Toothpick” Economics: Cordon defends the premiums on fractional gold with a simple manufacturing truth: a toothpick costs more per pound of wood than a 2×4 because of the processing required.
- Grassroots Adoption: Rather than lobbying the Fed, Cordon went door-to-door to barbershops and hardware stores, proving that adoption happens at the community level, not the policy level.
