FAQ
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 Redeem My Silver?
Just visit the "Redeem Silver" page under the "New Transactions" tab in the Members' Menu.
How Do I Convert To Silver Certificates?
Visit the “Order Certificates” page under the New Transactions tab.
What Form Is The Silver Stored In?
The silver in storage is kept as potions of large blocks of .999+ silver. Redemption silver is in one ounce Silver Liberty coins.
Is LDFA Trying To Compete With The US Dollar?
No. Liberty Dollars and Liberty Dollars Silver Certificates 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 Digital or 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?
Click on the “Make Deposit” button. 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 on demand and at the current SPOT price, via check by mail, ACH or PayPal. We hope to have our own debit card soon which we load the money to instantly.
What Does It Cost To Get Silver Certificates?
You can exchange Digital Liberty Dollars for Silver Certificates on an ounce for ounce basis with no additional cost except postage and handling.
How Do I Redeem My Silver?
Just visit the "Redeem Silver" page under the "New Transactions" tab in the Members' Menu.
What Is The $3 Premium About When I Make A Deposit?
We charge a Premium of only $3 per ounce when you buy silver from us for your account. As a result, we do not charge Minting and Manufacturing costs back to you when you redeem up to 20 Ounces of Silver Coins per month. Redemptions above that number will be charged an additional $5 per ounce to cover those costs.