The Liberty dollar is a private currency that has been in circulation in the United States since 1998. It was created by NORFED in an attempt to provide a competing currency to the U.S. Dollar. The silver and gold pieces are made of either .9999 pure silver or gold respectively. The paper certificates can be traded in for silver or gold that is currently being stored in a warehouse in Idaho. The popularity of the Liberty Dollar has been growing in many states across the nation. This increase in interest seems to represent a desire to change back to a currency that is actually backed by something. The metal-based system is meant to be a hedge against inflation so your money does not loose its value unlike our current fiat system.
The U.S. Mint has recently declared that Liberty Dollars are illegal. In a public statement they said “The United States Mint is the only entity that can produce coins”, and that it “is a crime” to spend the Liberty Dollar. The first statement is not entirely false. The U.S. Mint is the lone coin creator of the United States, but the Liberty Dollar never claimed to be a coin. In fact, they consistently try to distance themselves from the Federal Reserve Notes. The Liberty Dollar is actually backed by something tangible. The Federal Reserve note is barely worth the paper it is printed on. The government continues to have more and more money printed and the notes continue to loose value. With every dollar they print, the amount
