What Are Liberty Dollars?
Liberty Dollars are Digital or Paper Warehouse Receipts for a specific amount of .999 Fine Silver stored in our own or a third party's storage facility. They are negotiable because they can be transferred to any other Member.
Are Liberty Dollars a Form of Money?
In a sense, yes. A recent Supreme Court Decision referenced the fact that digital currencies are a form of money that can be used to make purchases or exchanges. Under the law, it is perfectly legal to use Liberty Dollars in this fashion, as long as you are not handing over physical Silver Bullion at the time of the transaction. That's why these Warehouse Receipts work, because the recipient can redeem them at any time for the actual silver.
Can I Buy Things With Liberty Dollars?
You can barter with anyone who is willing to accept Warehouse Receipts in exchange for goods or services, but they are NOT Legal Tender. This means that no one is required to accept them. The LDFA Marketplace is provided for our Members who wish to market their own goods and services here in exchange for Liberty Dollars.
Can I Get The Actual Silver?
Yes. Just visit https://ldfa.nl for more information.
How Do I Sell Or Redeem My Silver?
Just visit the "Sell/Redeem" page under the "New Transactions" tab in the Members' Menu. You can choose to sell your silver back to us via bank deposit or other methods, redeem your silver or withdraw Negotiable Paper Warehouse Receipts for use locally.
What Form Is The Silver Stored In?
The silver in storage is kept in 50 and 100 ounce bars and plates. Redemption silver is in one ounce Silver Cards.
Is LDFA Trying To Compete With The US Dollar?
No. Liberty Dollars and Liberty Dollars are legal Bearer Warehouse Receipts that are evidence of title to a specific amount of .999 Fine Silver stored with us, and may be freely traded with anyone. This is a system for the exchange of Paper or Digital Warehouse Receipts, but neither of them constitute "Legal Tender." Both are intended as mediums of barter, and both are redeemable in actual .999 fine Silver Bullion.
Isn’t It Against The Law To Use Liberty Dollars?
No. Liberty Dollars are Paper Warehouse Receipts giving you title to a commodity equal to a specific volume of .999 Fine Silver and stored for you in our own or a third party's facilities and may be lawfully traded for goods or services. Silver Specie, the actual silver rounds or bars, however, are prohibited from direct use in commerce by law, and this was the case made by the government against Bernard von NotHaus and the original Liberty Dollar. This is why LDFA does not offer any silver rounds that are designed to be used as money.
Is LDFA An Investment Counselor or Broker?
No. We are sellers of Silver Bullion and warehousemen. Our Warehouse Receipts meet the requirements under US and other laws as Negotiable Bearer instruments and can lawfully be used in barter, but we do not promote buying our silver in the hope of a significantly profitable return in the future. Rather, we recommend the use of silver as a means of preserving your spending power against the effects of inflation and devaluation of the dollar.
How Do I Fund My Account?
Visit the "Buy Silver" page under the "New Transactions" tab on the Members' Menu. Choose the number of ounces you wish to purchase and complete the transaction. Your account balance will show you the accurate SPOT price value of your silver, and the Current Silver Balance will show you how many ounces you own in decimal form.
What If I Need Cash?
LDFA will buy back any silver in your account instantly, via Instant Transfer to your Bank Account or prepaid Debit Card, check by mail, Bank wire or Payoneer.
How Much Is A Paper Warehouse Receipt?
A 1 Ounce Silver Certificate costs SPOT plus a $3.50 Premium.