The Goldback contains a thin layer of gold within a polymer coating equivalent to 1/1000 of an ounce.

[1] Goldbacks are shaped like banknotes but contain a small amount of 24 karat gold.

Goldbacks are sold in increments labelled 1, 5, 10, 25, and 50, each containing proportionally larger amounts of gold.

[2][5] The Utah Goldback was released in 2019, with series for Nevada, New Hampshire, Wyoming, and South Dakota launched in 2020, 2021, 2022, and 2023 respectively.

[8] KSL 5 TV, the NBC affiliate of Salt Lake City, reported a small number of local businesses accepting using Goldbacks for everyday transactions.