press release on Liberty Dollar, new copper dollar
MoneyLA
Posts: 1,825 ✭
I just saw a press release about a private mint that makes its own "currency" and even prints its own paper money, supposedly backed by gold and silver.
I checked their website and even found that they issue "numismatic collectibles" of their own coins and currency.
Well, I had to write an article about it on my website. it's called the Liberty Dollar.
I'm curious if anyone collects these, similar to those who might collect silver rounds from private mints or even silver strikes from casinos?
here's a link to my article, and thanks for any information.
Alan link
I checked their website and even found that they issue "numismatic collectibles" of their own coins and currency.
Well, I had to write an article about it on my website. it's called the Liberty Dollar.
I'm curious if anyone collects these, similar to those who might collect silver rounds from private mints or even silver strikes from casinos?
here's a link to my article, and thanks for any information.
Alan link
0
Comments
John
Never view my other linked pages. They aren't coin related.
<< <i>Von NutHouse is one step out of prison probably. If anyone believes he has a warehouse full of silver please contact me. I also have one and it's for sale. Cheap.
John >>
The US government, which stole 97% of the value of the dollar since 1933, is the real criminal.
John
Never view my other linked pages. They aren't coin related.
them as dollars anywhere????????
Inquiring minds want to know!
<< <i>If I put stickers on my Chucky Cheese tokens that say "ONE DOLLAR" on them, can I then spend
them as dollars anywhere????????
Inquiring minds want to know! >>
If the merchant is willing to accept it as one dollar, why not? This would be more like barter, though, which the government dislikes because (a) it's harder to trace transactions and (b) it's harder to tax.
<< <i>Von NutHouse is one step out of prison probably. >>
That one step might be a big one. They've been in business for 10 years.
Like First Strike and Early Releases, Liberty Dollars may be something that the Mint doesn't like but ultimately cannot do anything about.
<< <i>If I put stickers on my Chucky Cheese tokens that say "ONE DOLLAR" on them, can I then spend
them as dollars anywhere????????
Inquiring minds want to know! >>
Isn't that the Presidential Dollar Series?
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<< <i> If the merchant is willing to accept it as one dollar, why not? >>
Why would any merchant accept this for one dollar or for any amount?
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<< <i>Why would any merchant accept this for one dollar or for any amount? >>
IMO they would be stupid to do so, but that's not the point. The point is that they should have the right to accept them as one dollar (or any other negotiated and mutually agreeable amount) if they so choose.
I believe the government has a legitimate role to play in educating people and making sure they realize these coins are not government legal tender and they should be purchased and accepted at their own risk, but forbidding their use in commerce is going too far. If a merchant would rather be paid in puka shells than cold, hard currency, it should be their right to do so.
if people want to accept these coins as barter, let them.
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1. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.
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<< <i>Until the states of this country start to obey the Constitution of the United States will will continue to have problems with our currency. It would be important if the states would follow Article 1, Section 10 which says that "no state shall make anything but gold and silver coin a tender in payment of debts". It would seem to me that our sworn officials violate the constitution daily. So much for their oath of office. >>
The Constitution can and has been amended. If that were not the case, we possibly would not have the Little Rock commem this year.
<< <i>If I put stickers on my Chucky Cheese tokens that say "ONE DOLLAR" on them, can I then spend
them as dollars anywhere????????
Inquiring minds want to know! >>
You seldom let me go a day without a laugh, Tom.
Joe
HE>I
The Federal Reserve is a select group of private bankers, and it's beyond me why they can issue fiat money but no one else can even offer bullion-backed specie. The power for the Fed to create money is not in the Constitution, and it most decidedly concentrates too much power in the hands of a few, which is clearly illustrated by the continual abuse of this very power.
The current system rotten to the core, IMO and it's all about getting tax money without the people's consent. (Once upon a time, the country revolted from England about this very thing - taxation without representation.) The thing about a progressive tax structure is that the more monetary inflation, the more tax revenue increases without any authorization (as everyone's income increases, so does the tax rate.)
At the same time, the official inflation indices are understated in order to keep government bond payments low. Check with someone living on a fixed income and see what they have to say.
When the Fed can debase our money continually, there is no accountability for how the surplus created by the Fed gets spent. There's not much accountability anyway, but monetary inflation only multiplies the problem.
Had enough yet?
I knew it would happen.
<< <i>What's silly is if you have an item worth $20 and you agree to swap it for a one oz silver Liberty coin that has $20 denomnation on it that is barter and it is legal. If you have that $20 item and you agree to accept a 1 oz silver Liberty coin with a $20 denomination as payment that is illegal! Barter is fine but to accept metal non-US coins/tokens as money is illegal under US code Title 18 sec 486. That is the section that got the Liberty Dollar people in trouble last time. >>
So the feds can make a paper note worth 3¢ and force you to accept it as $20, but if someone wants to voluntarily accept
a medal with $13.50 in silver as $20, that's a crime.....
THAT is the crime....
<< <i>So the feds can make a paper note worth 3¢ and force you to accept it as $20, >>
They can't force you to accept it. You are perfectly free to decline payment in FRN. (Although figuring out what else you could accept might be difficult.) Take that Pizza parlor in Texas that advertises that they will accept Pesos in payment As long as they take the paper pesos they are fine. If they accept peso coins in payment, then they are breaking the law.
<< <i>but if someone wants to voluntarily accept a medal with $13.50 in silver as $20, that's a crime..... >>
The key is to determine if you are accepting it as barter or as payment. One is legal, one isn't. I would think that one of the keys to determining which you are doing would be if there is the need to make change involved with the transaction. If change is given in US coins then it would probably be viewed as having been accepted as a payment and therefore illegal. If change was given in goods then it would probably be considered to be barter and legal.
http://www.usmint.gov/consumer/index.cfm?flash=yes&action=HotItems
They're in court now, with the Liberty Dollar people saying 'It is not a "federal crime" to voluntarily use a piece of silver between two consenting adults.'
I hope the mint loses.
I'll take my money with the backing of the US government, thank you. Not some yahoo nutbag who prays upon the 'anti government' dissafected promising a return to the olden days of silver backed currency and inflation proof money. It's all about profit for him and his business... period.
The only real loosers will be anyone left holding a bunch of his non collectible tokens when he shuts down the shop.
What a joke.
I'll take my money with the backing of the US government, thank you. Not some yahoo nutbag who prays upon the 'anti government' dissafected promising a return to the olden days of silver backed currency and inflation proof money. It's all about profit for him and his business... period.
The only real loosers will be anyone left holding a bunch of his non collectible tokens when he shuts down the shop.
What a joke.
Yes, the only difference between his scheme and the U.S. Government's scheme is that his scheme is voluntary, and the Fed's scheme is mandatory.
I knew it would happen.
With the US cent and nickel, the intrinsic value of each coin is more than the face value
<< <i>The liberty dollar is a joke... it is about making money for one individual.
I'll take my money with the backing of the US government, thank you. Not some yahoo nutbag who prays upon the 'anti government' dissafected promising a return to the olden days of silver backed currency and inflation proof money. It's all about profit for him and his business... period.
The only real loosers will be anyone left holding a bunch of his non collectible tokens when he shuts down the shop.
What a joke.
Yes, the only difference between his scheme and the U.S. Government's scheme is that his scheme is voluntary, and the Fed's scheme is mandatory. >>
You fail to mention that the dollar is backed by an organization that won't simply pull up roots and dissapear...
You also miss the point that the 'profits' on minting US dollars is retained within the government and is used to fund these operations, that provide required services to our economic well being. The profits on liberty dollars go to a private individual.
Is there a succesful example of any country in the world allowing private competitition with their currency? Think of the complexities of that system, and the arbitrage issues, etc.
Liberty dollars are not the answer to any problem but that of the issuing companies bottom line. They are a scam.
<< <i>You also miss the point that the 'profits' on minting US dollars is retained within the government and is >>
... possibly used to fund issues of national concern such as the ragbuck and the War on Terror.
<< <i>Liberty dollars are not the answer to any problem but that of the issuing companies bottom line. They are a scam. >>
That isn't the point, IMO. The better point is whether or not two willing participants in a transaction should be allowed to use them in commerce as a form of barter instead of (or in addition to) legal tender U.S. currency. If both parties to the transaction mutually agree to it, I don't know why the government should be able to tell them they can't.
<< <i>If both parties to the transaction mutually agree to it, I don't know why the government should be able to tell them they can't. >>
If a large portion of the US economy moves to an alternative currency for whatever reason, the US government's ability to generate funds via seignorage will be diminished. Some people think giving US currency some competition will help our government be more fiscally responsible.
As to barter, do we really believe that barter is going to come back as a way of doing business? In business we have to pay taxes on the sale of goods, and 'in kind' trades are not generally accepted methods of transactions. How do you provide proof of the value of the item taken in? How do you pay sales tax on it? If the hope is to get around these issues, then that is bad too. Those monies are required, and companies and individuals should pay them fairly.
Barter is an interesting theory... but not a practical solution to US commerce needs.
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<< <i>"Liberty Dollars" as currency sound like cigarettes in prison. >>
I didn't think Liberty Dollars were in such demand