Too bad for Americans. Because they cannot have choice to use inflation proof currency! So we have to put up with hyperinflation from now! All because Bernard von NotHaus was convicted for crime that he did not do! He is just like John Demjanjuk or Alfred Dreyfus or even Galileo Galilei for saying that Earth goes around Sun!

One of the charges was for posession of the Liberty Dollar.  So, it sounds like just having them is an offense.

Reinventing the Wheel, Libertarian style, Again!

A short visit to the United States Mint web site then following bread crums found there should lead most folks to Section 5112 Denominations Specifications and Design of Coins of the US Code. You need to read the law yourself because I am not allowed to have "legal" opinions nor would I really want to. It does say "coins minted under this title shall be legal tender" and then refers you to Section 5103. Please spend a few hours in the bowels of a law library. Doing that before the fact is preferable to fighting daGubamint inside the Barrister Zone after the deed its done.

The Gold Bullion Coin Act of 1985 (see Wikipedia) requires among other things that the gold used to mint these coins shall be purchased from US mines, that enough are produced to satisfy the public demand and it sets standards and profit margins so ordinary citizens can purchase them from reputable private dealers with at least some confidence. The law now also covers silver and platinum.

I feel sorry for Mr. NotHaus but you have to wonder why. Why would intellegent people simply not band together, meet the asset and trade registration requirements to become Mint wholesalers or deal with established companies like APMEX (www.apmex.com) that sell bullion coins and avoid the pitfalls assoicaiated with building square wheels.

Freedom fighters often choose the wrong battles and ignore ordinary tools. Why not accept what Congress and Ronald Reagan gave us. The 3 to 9% markup the US Mint feels is the fair market value of their services seem well within the bounds of reason. Is the law perfect? No! and neither is anything else human. Maybe just maybe some of the folks in government are not pure evil and not everything done in WDC (Washington District of Corruption) is totally unconsitutional.

In the next few years or weeks we shall see whether States like Utah will be allowed to coin their own gold and silver money and use them as currency.  

This means no new Liberty Dollars. But does it mean we can't use them? I know a guy who was using them(1 silver oz.) as if they were $20 pieces when silver was $12/oz. He spent them in stores/businesses. When silver reached $19 I told him I would buy all he had (about 1000) but he declined.  I now wish I had bought U.S. silver eagles. I know they are legal. But are they legal tender? Is the gold eagle legal tender? They are stamped $50 but the IRS has said they must be reported for their daily changing FRN value. So are gold dollars not real dollars (legal tender)?