>>60889078
>is the 100% face premium due to the novel manufacture process?
Yes, manufacturing and (((profit))) but the high premium is an integral part of the face value. When you pay $7.02 (current price) for the Goldback, if you were to spend it at a store, the purchasing power is worth exactly $7.02 (assuming spot didn't change) The value of the Goldback varies with the current price of gold.

If gold goes up, the value of your Goldbacks increases. They have an online calculator for doing realtime transactions based on the up to the moment price of the Goldback. The current Goldback price is in the upper right hand corner.
https://www.goldback.com/calculator/

You're not buying a Goldback to melt down for the gold. https://youtu.be/LMCO9cdrVyk

You're buying it for the value added usablity of the gold money. Realistically, people are buying for esthetic and novelty reasons, although there are growing numbers of people and business that are using it as money, it's still just a niche market right now.