If you take a quick look around you may notice a suspicious lack of 2022 Goldbacks. Many companies seem to be struggling with supply chain issues and other struggles that are impacting new production but our struggles are a bit more unique.
The new designs for 2022 weren’t finished until January (which was entirely my fault). Unfortunately it takes two months to create a new Goldback and there was already a huge backlog of orders due to high demand. The 2021s were already partially printed onto the polymer that is then coated with gold. To make matters worse our production capacity wasn’t anywhere near where we hoped it would be which would’ve solved about half of this issue.
To make a long, complex, and boring story short we’ve been finalizing 2021 orders that were originally submitted in 2021 well into 2022. This has also affected the Wyoming release which we are still hoping to get done this early Fall. We haven’t announced a release date for Wyoming, a couple of retailers did pre-orders anyway because of more optimistic forecasting that we had from 2021.
The good news is that production has finally picked up! We’ve gone from producing an average of 16,000 Goldbacks per day (Face Value) to 64,000 over the past two months. We anticipate even higher production in June and July. This bodes well for the 2022 series and the Wyoming project.
The newest version.
Despite the very late start 2022 will be by far the largest issuance of Goldbacks. We believe that over half of all Goldbacks will be marked with 2022 by the end of this year. We are also planning ahead a bit better so that 2023s will be available earlier in the year next year. Perhaps early March as opposed to May.
The first 2022 Utah’s were delivered yesterday. This is the 10. Notice all the changes! We will do another article/video highlighting all of the different changes but we are including a peak here as well.
We appreciate how patient everyone is being with us. It has been incredible to see how popular Goldbacks are becoming and we are determined to work hard to meet market demand. Thank you for supporting sound money!