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Quote of the Day - It was an eventful day. I drove it on a couple of par-fours, put the ball under a car, in trees, hit a couple of bunkers and made some putts, so I saw most of Harding Park. - Tiger Woods

Liberty Dollar Coins Strike At Heart Of U.S. Mint

Check out those coins in your pocket a little bit closer.  If you have a Liberty Dollar coin and try to spend it, you could be going to jail.  The United States Mint is none too happy with the manufacturers of the Liberty Dollar coin, and has issued a warning to those who try to use it as currency. 

Nonetheless, many people are more than pleased to use the coin as currency.

The safe bet, obviously, is to collect the coins and treat them like collectibles.  Alternatively, you could fill up your bunker with them.

Posted by J. Craig Williams on 9/17/2006 at 11:52 Comments (1)

 

Comments

Comments by Mike Lorrey from United States on Monday, September 25, 2006 at 18:40

The legal case is quite a bit more murky than the US Mint alleges. Firstly, the Mint misquotes the US Constitution, claiming the congress holds an exclusive right to coin money, though this is not stated in that document. Secondly, the Mint misuses statutes used to prosecute counterfieters in stretching them to cover alternative currencies like the Liberty Dollar which do not even match a passing resemblance to any US Mint coin. The very word "counterfeit" means "against fiat". As the Liberty Dollar is real silver (in the case of its medallions; its printed warehouse receipt notes are 100% backed in silver), it is, by definition, NOT a "fiat" currency, as is the case with the Federal Reserves notes, so it cannot fall under any counterfeit regulations.
NORFED, the makers of the LD, are preparing legal challenge to the Mints defamatory allegations, so, like the historic showdown between the US Postal Service and FedEx, we could have a monumental case resulting in the devolution of government power to private enterprise.
Read more at The International Libertarian...

 

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