A Digital Warehouse Receipt is much like a paper warehouse receipt, but better.

A paper warehouse receipt is a contract between a warehouse and a third party. Like every contract, there are a number of elements required for it to qualify as a legal, binding agreement. The Uniform Commercial Code (UCC), the governing body of law for the original paper warehouse receipts, specifies seven elements: 1) Terms of receipt, 2) Date of issue, 3) Description of item warehoused, 4) Any additional charges or conditions, 5) Expiration of receipt, 6) Location of warehouse, 7) Signature of the warehouse official. All seven elements must be on the paper warehouse receipt.

The eLibertyDollar (eLD) is now distributed in digital form as a DWR. Just as it is legal to use your digital signature to "sign" documents, it is now legal to use DWR as defined by the Terms of Service.

Digital Warehouse Receipts provide numerous advantages, just as your digital signature provides advantages in our advancing digital age. In addition to the speed, safety and the flexibility that divisibility provides via digitalization, the eLD can also be used in e-commerce on the Internet. Plus it can be emailed in total privacy to anyone in the world, even if they don't have an eLD account. Just as you can send an email at a fraction of the cost of a regular long distance phone call, an eLD transactions under $20 is free and over $20 is only $0.41 per transaction.

A Digital Warehouse Receipts is different from a paper warehouse receipt in that it can be divided to a thousandth of the whole. And due to the digital nature of a DWR, it can be executed by the bearer on demand provided the whole never exceeds the quantity of the underlying goods in the warehouse. All eLDs in digital form are 100% backed by silver stored at GoldMoney.com. At the $20 Silver Base, every twenty Liberty Dollars ($20) is backed and redeemable by one Troy ounce of .999 fine silver. At the $50 Silver Base, every fifty Liberty Dollars ($50) is backed and redeemable by one Troy ounce of .999 fine silver.

The eLibertyDollar (eLD) has been programmed so Liberty Numismatics can never distribute more currency than the amount of silver on deposit regardless of the Silver Base. Second, a Daily Transaction Report (DTR) is automatically generated that records the total daily balance of eLD in the system. Without identifying any individual accounts, individual activity or invading anyone's privacy, the DTR provides the monthly auditor with the means to verify that the eLibertyDollar is always 100% backed and 100% redeemable. Third, the independent auditor's certified monthly report is posted for
review at: http://www.libertydollar.org/ld/information/audits.html.

Please review the Terms of Service before using the eLibertyDollar.

Bernard von NotHaus
Monetary Architect
February 15. 2008