Will the NORFED / LIBERTY Dollars Be a collectable...
mach19
Posts: 4,002 ✭✭
Or should I just dump them ? I have the Two dollar up to the Twenty dollar coins. I guess they are .999 silver. They are a cool looking coin.
TIN SOLDIERS & NIXON COMING 
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If you are really asking, “Will they be worth more than bullion?” no one can say. If you want attractive modern coin-related medals, look at some of Daniel Carr’s work.
<< <i>Do they sell for melt or more? >>
More than Melt
<< <i>There's nothing wrong with the silver medals so long as they are not presented as if they were money. Frozen cat poop is collectible if you care to save it....so are beanie babies and 200-year old brandy.
If you are really asking, “Will they be worth more than bullion?” no one can say. If you want attractive modern coin-related medals, look at some of Daniel Carr’s work. >>
I have Two cat's
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Would you like some more? I know where you can get more of them, cheap.
On the Norfeds, I think they have a great design, and I bought my first ones just this past week. I'm not disappointed.
I knew it would happen.
The notoriety and FBI raid doesn't hurt
<< <i>
<< <i>There's nothing wrong with the silver medals so long as they are not presented as if they were money. Frozen cat poop is collectible if you care to save it....so are beanie babies and 200-year old brandy.
If you are really asking, “Will they be worth more than bullion?” no one can say. If you want attractive modern coin-related medals, look at some of Daniel Carr’s work. >>
>>
In addition to frozen cat poop, you can add US Patterns and Scovill "New Haven" counterfeit Fugios which are better examples from a numismatic perspective. US Patterns can be classified as "coin-related medals."
Tyler
In honor of the memory of Cpl. Michael E. Thompson
<< <i>I would be concerned that their premium over spot might evaporate if they lose press coverage. >>
I agree this is a concern. If you want to get out of a position, it may be an ideal time to do so while they are still in the news regarding the lawsuit and while the 2008 Presidential election is going on.
"Free kitten with every purchase.”
“Great House Warming gifts.”
“A fun toy for your Doberman."
translated from a Chinese clothing manufacturer's ad:
"Happy Hand Glove Factory - Cat and rabbit wanted. Price good. Pay fast."
If you like the medals, then collect them; but no one can predict if there will be a premium in the future. Some $4 beanie babies once sold for hundreds – now…?
SCD medals took over 100 years to generate some collector premium and even now there is concern whether the recent price increases are temporary and due to dealer hype, similar to the 1980s dealer hype surrounding CCHDs.
Many classic common date US gold coins have lost their collector premium and are now essentially just bullion. If the value of gold continues to go up, more US classic gold may be just worth melt.
There are certainly non-trivial valuation risks with the NORFED Liberty dollars given that they are currently in the news and that news will eventually subside, similar to the CCHD dealer hype.
In looking at the various issues, it seems that they embarked on a proliferation scheme that could have rivaled the U.S. Mint, in terms of a large number of variations, every one selling for a hefty premium. That being the case, I assume that if and when they are allowed to resume production & distribution of these, most of them will quickly lose their premiums.
In producing so many variations (like the U.S. Mint), the political message is cheapened by the exploitation of potential collectors paying premiums for endless varieties. On a similar note, I just won my first couple of auctions for some nice 1923 Notgeld coins.
I knew it would happen.
<< <i>I assume that if and when they are allowed to resume production & distribution of these, most of them will quickly lose their premiums. >>
It seems they are still in business. If you go to their website, the 2008 pieces say PVBC (Private Voluntary Barter Currency) and MRSP (Manufacturers Suggested Retail Price). It seems they are allowed to continue production but the ones now and into the future will be materially different than the ones from previous years. If they keep making ones that say PVBC / MRSP, the earlier ones may gain in value, not decrease, as continued production may keep these in the minds of people. If they ceased operations altogether, there may be a bigger chance of these losing collector premium IMO.
It does seem they started to create a number of different types as time wore on. Some may have been for collectors, but it seems some of the location oriented ones may have been to distribute to their members in those areas. Some areas of the US are more accepting of using Liberty Dollars to facilitate commerce and some of these may have been made for those areas.
Another possible comparion is casino tokens. Some are worth zilch. Some are worth face value only. Some are worth large premiums over face value, even if they are no longer accepted at face value by any casino.
Hard to tell what might be worth something in the future. But as long as there is a bullion (intrinsic) value to the piece, the downside risk is limited.
My Amero coins sell for more than my issue prices on eBay. I don't know if the values will hold up, but I think they will if the coin market in general remains healthy. If the North American goverments ever get together and issue a common currency, I'm sure that would give quite a boost to the value of the Amero coins I've issued.
If maintaining value through a known bullion content is the motivation, then selling them at a 50% premium over melt doesn't compete with any other bullion type piece. They aren't being sold as "art", so I find the high markups to be obnoxious, especially when they are being marketed to promote the ideas of financial freedom and financial stability to people who would support fiscal responsibility in government. It smacks totally of crass opportunism. (I still like the design concepts very much, though.)
I'm sure that the government's position is designed to maintain a clear distinction between legally-authorized coinage vs. private tokens. I don't have a problem with that, but I sure do wish the government would practice some of their own fiscal responsibility and honesty in their own coinage and money creation practices.
I knew it would happen.
While it is not a 1:1 match for current bullion value, there is some anti-inflationary measures built in. Just think about hyperinflation in Germany, Yugoslavia, etc. Who knows if the US will ever be subjected to hyperinflation, but if it happens, these will help more than US Federal paper currency.
Junk silver and ASEs will help with inflation as well but you can't use them for barter as well as Liberty Dollars today. While Liberty Dollars aren't all that effective for barter, they are more effective than ASEs and junk silver.