Woo hoo! Keene Wal-Mart officially accepts Liberty Dollars

[Fluff and Stuff]

Cool website!? Welcome, TN-FSP!

Thanks

[Kat Kanning]

Looks to me like other silver coins go for around $10 on the open market.

http://www.goldeneaglecoin.com/catalog_c65678.html

[Michael Fisher]

Looks to me like other silver coins go for around $10 on the open market.

http://www.goldeneaglecoin.com/catalog_c65678.html

Those coins are uncirculated and in mint condition.  They're probably purchased as collectors' items.  The Krugerrand is probably the most widely-used gold coin in the world because it's margins are very thin and it is protected by an 8.33% composition of copper which helps makes it stronger and thus more useful in circulation.  Bullion bars are also used for larger transactions.  I doubt many people trade with gold or silver bullion that is in mint condition.

New bullion is for collectors.

It's totally different from a fiat currency, most of which have no inherent value, and which can be circulated in mint condition because nearly 100% of the cost is profit to the government's contractors, but people are required by law to accept them at a certain face value.

[Pat McCotter]

There is also junk silver. http://lynncoins.com/jsilv.htm $50.00 face value silver coins for $329.00.

There is 0.71 troy ounce of pure silver per dollar face value in pre-1965 silver coins.

During the runup in silver/gold prices in the 80's there was a gas station showing a sign:

$1.109/gal
    or $0.10/gal
    in pre-1965 silver coins.

Of course, silver price was > $50.00/oz

Cheers!
Pat

[Michael Fisher]

Junk silver is a possibility if a specific value is certified by a coinshop, but stores will probably want to accept them at face value instead, and junk silver is worth nearly 5 times its face value.   

[Pat McCotter]

Like the gas station I mentioned, stores can state two prices for their goods/services; one in FRN and one in pre-65 silver coins.

Remember when gas stations had different prices for cash & credit because credit card netowrks charged so much for processing.

[Michael Fisher]

Like the gas station I mentioned, stores can state two prices for their goods/services; one in FRN and one in pre-65 silver coins.

Remember when gas stations had different prices for cash & credit because credit card netowrks charged so much for processing.

This just might work!

[Pat McCotter]

Yep, instead of being customer driven, it is vendor driven. They don't have to worry about exchange rates - what will NORFED give for the Liberty Dollars or even the face value of any of the coins - just "What are these coins worth to me?"

[Michael Fisher]

It's a pretty easy conversion.  $1 of junk silver at face value is worth about $4.97.  Gas prices change.  Why shouldn't people be able to get used to silver prices changing?

[Ron Helwig]

Like the gas station I mentioned, stores can state two prices for their goods/services; one in FRN and one in pre-65 silver coins.

Remember when gas stations had different prices for cash & credit because credit card netowrks charged so much for processing.

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[Russell Kanning]

 

I accept 1oz silver coins as about = $10 ..... I just don't have as many customers as walmart

[Kat Kanning]

I'm delighted to get paid in liberty dollars.  Dada gives me rent in LDs.  I'm saving them for a rainy day    Plus they're pretty.

[mikefam]

Mike,

? ? The purpose of the ALD is not as an investment.? You aren't supposed to be exchanging the paper for the silver.? If you want silver, go and buy it in bullion form.? The point is to circulate them.
? ? If you want currency, the ALD is great!
? ? If you think it stinks then get competitive instead of complaining.? See if you can make your plan work.? It sounds like it needs some refining to me.? Perhaps with a little work, the LeReuineur Dollar will become more popular in the marketplace!

Until something else comes along (I've heard about the Phoenix Dollar), NORFED is the best option out there.

May the best currency win.

the problem with liberty money(cions) is that is is grabed up by cashiers and managers and owners that know what silver is and that is is ridiculiously hard to give change in $10 increments. thats what makes it hard to get into general circulation. furthrtmore the liberty money(paper reciepts) can only be obtained from norfed at face value ( there is no discount for paper reciepts) taking the profit incentive out of the paper money makes it almost impossible to get the liberty money to circulate generally, just imagine having $300 worth or silver in your pocket  thats 30 coins  its is much more comfortable to carry paper in ones wallet

[mikefam]

Like the gas station I mentioned, stores can state two prices for their goods/services; one in FRN and one in pre-65 silver coins.

Remember when gas stations had different prices for cash & credit because credit card netowrks charged so much for processing.

this is now an illegal practice outlawed by strong lobbying by the banking industry.

[FTL_Ian]

As a Liberty Associate, I can say yes there is a discount for the paper LDs.  It's the same discount as is on the Silver Liberties. Don't know what makes you think there is not, mikefam.