Liberty Dollar: Difference between revisions
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Liberty currency exists in $1, $5, and $10 bills backed by a one-ounce silver coin with a face value of $10. There is also a $500 bill backed by a one-ounce gold coin with a face value of $500. One feature that Liberty currency shares with the [[euro]] but not with the [[U.S. dollar]] is that the bills' size and color varies with the value. However, unlike the euro, it's only the long dimension which varies. The higher the value, the longer the bill. | Liberty currency exists in $1, $5, and $10 bills backed by a one-ounce silver coin with a face value of $10. There is also a $500 bill backed by a one-ounce gold coin with a face value of $500. One feature that Liberty currency shares with the [[euro]] but not with the [[U.S. dollar]] is that the bills' size and color varies with the value. However, unlike the euro, it's only the long dimension which varies. The higher the value, the longer the bill. | ||
One might note that the face value of the coins is somewhat larger than the spot silver or gold price. While normally this would be an extra [[numismatic]] value, as NORFED is a non-profit organization, the extra cost is here used to buy more silver and gold to back more notes and make more coins. | One might note that the face value of the coins is somewhat larger than the spot silver or gold price. While normally this would be an extra [[numismatic]] value, as NORFED is a non-profit organization, the extra cost is here used to buy more silver and gold to back more notes and make more coins, as well as for storage, shipping, insurance, and other costs. | ||
==Liberty dollars in the marketplace== | ==Liberty dollars in the marketplace== | ||