Liberty Dollar FAQ
Frequently Asked Questions about the Liberty Dollar
Is The Liberty Dollar legal?
Yes, The Liberty Dollar is absolutely 100% legal, lawful, and Constitutional! Legal opinions have been obtained by prominent attorneys that validate that the Liberty Dollar complies with all US laws and the Uniform Commercial Code.
Legally, The Liberty Dollar is a warehouse receipt that guarantees that whoever is holding the currency has ownership of the silver stored in the insured warehouse. The $10 Certificate is backed by one Troy ounce of pure .999 fine silver, the $5 by a half-ounce and $1 by a tenth-ounce. The $500.00 gold certificate is backed by one ounce of pure .9999 fine gold.
The Liberty Dollar is also a petition for a gold and silver based currency as specified by the U.S. Constitution, and thus protected by the First Amendment.
See Is It Legal? for more information.
Are there other alternative currencies out there competing with the Fed?
Yes. It should be noted that 40 to 60 communities in the U.S. utilize their own money system. For example: Ithaca, NY has had national publicity on the use of its "HOURS" with the value of a Hour equal to ten US dollars. Thus, labor is fixed at ten dollars per hour as a standard. The Hour circulates throughout the community as money and is backed by local labor; which necessarily limits the currency to local use.
The Ithaca program serves a good local purpose and many other communities have followed the example implemented by Ithaca. Parade Magazine featured a two-page article on the Ithaca Money on July 5, 1998, the day following Independence Day. This article went out to about 55 million people. People are becoming aware of other currencies and that you now have a choice.
What makes The Liberty Dollar superior to all those other alternative currencies? Unfortunately, all those other currencies are not backed by any precious metals and were merely designed to circulate their local economy, and are thus only good in their location. For example, you cannot spend an Ithaca Hour in Macon, Georgia, because it is only redeemable in labor from Ithaca, New York.
However, The Liberty Dollar was designed to strengthen our national economy. It is a 100% backed warehouse receipt and redeemable in .999 pure silver or .9999 pure gold anywhere, anytime. Plus it is negotiable anywhere. In fact, its use isn't even limited to the United States. So, we wouldn't be a bit surprised if we didn't have the first truly global, physical currency on our hands.
Will counterfeiting be a problem?
The Liberty Dollars' security against forgery is extremely high. Anti-counterfeit measures include special paper, micro-printing, silver and gold foil-stamping, a hologram, and more. Actually, anti-forgery security with The Liberty Dollar is much higher than with Federal Reserve Notes
How long has The Liberty Dollar been available?
Since October 1, 1998.
Where can I get the Liberty Dollar?
The Liberty Dollar has an international network of Liberty Associates and Regional Currency Offices that grows daily. The function of these distribution centers is to exchange US dollars for Liberty Dollars. You can also order online.
When should I order the Liberty Dollar?
The Liberty Dollar grows your money because you can get it at a discount when you are a Liberty Associate. Plus it protects your money from inflation. In fact, you profit from inflations with the Liberty Dollar. and grow your movey and Now. Remember, the "early bird gets the worm," get some Liberty Dollars today.
Where can I redeem The Liberty Dollar?
All Regional Currency Offices (RCO) and the National Fulfillment Office will redeem your Liberty Dollar Certificates for the gold and silver that backs it. Plus many Liberty Associates will also redeem your paper Silver Certificates. There is a toll-free number on every Certificate for redemption. Just call: 888.421.6181.
Why should I exchange my money for Liberty Dollars?
- Because you want to protect the purchasing power of your money.
- Because you want to profit from inflation.
- Because you know the US dollar notes are debt based and depreciating.
- Because you want to affect a real change in a peaceful and positive way.
- Because you support the Constitutions of the United States and your State.
But why should I pay twice the price for silver?
Put simply, you are not. The Liberty Dollar is a currency, not an investment. If you want to buy silver as an investment, buy silver bullion. Of course, you will not be able to use it as you can with the Liberty Dollar.
As a currency, the Liberty Dollar has more overhead than bullion, the costs of minting, storage, insurance, printing and distribution, bookkeeping, supporting the RCOs, Liberty Associates, advertising, and all the other usual expenses of a free-market enterprise.
Click here for a more in-depth explanation as to why you are definitely getting your money's worth with The Liberty Dollar.
Where can I spend The Liberty Dollar?
Our web site maintains a listing of businesses that accept the Liberty Dollar for full or partial payment for their goods and services. It will be updated frequently, so check it often. Click HERE to search listings.
What prevents the Government from seizing the silver/ gold that's stored in Sunshine Minting before or after the customer purchases it? The Government has seized it before so are they allowed to do it again?
The opportunity for the government to seize the gold/silver at Sunshine "before or after" any purchase is very small due to the quick turn-around time on all orders. The only perceived risk is to the gold/silver that is stored for the Gold and Silver Certificates issued as warehouse receipts. "Perceived risk" because the government has never seized any warehouse receipts because there has never been any warehouse receipts like the Liberty Dollar. Plus it is doubtful that the government would want to risk any seizure and hand Liberty Dollar the enormous publicity and draw their unbacked currency into the public spotlight.
As for a general seizure like the Roosevelt Confiscation of 1933, this is utterly impossible simply because the public attitude towards the government has changed and most importantly because gold is now a free commodity on the world market. Any seizure by any government, particularly the US government would drive gold and silver to unheard of prices. And as the government cannot confiscate without paying market value, it would be impossible for the government to outrun the escalating prices on the world market. To learn more why confiscation is utterly impossible, please read Chapter 28, page 244 in "Liberty Dollar Solution" book available for only $5 if you mention this post.
PS: The government was not "allowed" to confiscate the gold the first time and it will never be tolerated again... otherwise we return to the lead standard.
Can anyone start their own currency?
Yes, and many people have. Especially during the Great Depression when money was scarce. Many businesses, Chamber of Commences and individuals issued their own money, sometimes known as "scrip" to facilitate business. Currently, there are approximately 50 communities that issue their own local currency. Unfortunately, none backed by gold and silver. Until the Liberty Dollar was issued on October 1. 1998, the Ithaca "hour" was the most well known and popular local currency. Now the Liberty Dollar does in a day what the Hour has done over the past 15 years. Due to your support, the 100% gold and silver Liberty Dollar is already Americaís second most popular currency.
Why is the Liberty Dollar inflation proof?
The Liberty Dollar is "inflation proof" because it is 100% backed and redeemable in gold and silver, plus because of the way the currency is designed and functions in the marketplace. As gold and silver represent "real" intrinsic value, they are "inflation proof" by their very nature. In other word, mankind has always valued gold and silver because of themselves. This is not true of paper with a dollar sign on it that is issued by any government or anyone else.
The Liberty Dollar is also "inflation proof" because of how it is designed. It is not only designed to keep up with the inflation of government money it is actually engineer to stay ahead of inflation so that the people who use the Liberty Dollar actually profit from inflation of government money. You have to be ahead of any market to profit. This is accomplished by the Liberty Dollar being issued at a Face Value that exceeds the metal content. Of course this is necessary because of overhead and minting costs and simply because you canít buy anything and sell/exchange it for less and stay in business for long. The US government discovered this in 1964 when they removed silver from the US coinage and opened the door to monetary tyranny. Plus the Liberty Dollar is specifically designed to Move Up as the price of gold and silver move up in response to more "inflation" that is nothing more than excess printing of paper money by the government that dilutes the value of existing US dollars and steals the peoples purchasing power.
The Liberty Dollarís first Move Up occurred on Thanksgiving Day, Thursday, November 24, 2005. On that day, all $10 Silver Base Liberty Dollars Moved Up to the $20 Silver Base and all holders of Liberty Dollar DOUBLED their money, putting them ahead of inflation. Doesn't it just make sense that when the underlying commodity that backs the currency increases in value, shouldn't the purchasing power of that currency also increase in value? Of course. And isn't that the essence of an inflation proof currency? Absolutely! In fact, when you think about it, the only way the Liberty Dollar can accommodate higher commodity prices is to increase its Face Value.
Bottom line is that the Liberty Dollar is "inflation proof" because it is 100% gold and silver and designed to stay ahead of inflation, thereby protecting your purchasing power in the marketplace.