Buying lower-cost Liberty Dollars without becoming an "Associate"

[Dave Ridley]

buying before the switch up worked well for me in 05.   i really made a better killing that way than with any other investment i've ever made.  i wish I'd bought more.  i suspect it will work out ok for those who do the same preceding the next switchover.

[Dave Ridley]

i've found in my world demand for LD's is higher than for silver bullion over the last six months btw.  Too bad since I'm low on them now.

[PowerPenguin]

There's a good deal on $2,000 eLD right now over here: http://www.liberty-auctions.com/auctiondetails.php?id=101241. I've bought from the seller there before and he's honest and prompt, albeit a little strange.... Ask him about his magic cancer cure involving blueberries. 8-)

BTW, the LD is more in demand because it is used as a form of currency, not bullion. Though the LD is *based* on silver and gold, you're dealing with an entirely different demand model.

[error]

Indeed. When the it's the LD I expect to see a lot of people spending in their daily transactions. I'd expect to see bullion far less often, and/or for larger transactions.

[Raineyrocks]

I've read about Liberty Dollars but I just don't understand anything about them.  Do you get coins or a piece of paper?  I've read about all kinds of different prices for them, I'm totally confused, can anyone simplify the info for me, please?

[Quantrill]

If you're an associate, you get LDs cheaper.  The price varies.  One day you may spend $.93 per dollar, the next $.95.   You can get coins or paper.  A $20 coin is 1 ounce of silver.  A $20 note is basically a receipt for 1 ounce of silver that you can redeem anytime you want.  Unlike the government dollars, these are backed by silver (and I believe gold as well).  So for every $20 in paper you have, there is 1 ounce of silver stored in a vault, waiting for you to claim it. 

Personally I'd just go all coin and at the Liberty Forum the hotel restaurant was accepting coins but not dollars.  I don't know if other places only accept one form over the other.   And then there are e-liberty dollars, but that's tomorrows' lesson!   

Also, check out www.libertydollar.org

[Russell Kanning]

I've read about Liberty Dollars but I just don't understand anything about them.  Do you get coins or a piece of paper?  I've read about all kinds of different prices for them, I'm totally confused, can anyone simplify the info for me, please?

If it is too confusing, you can just live without them.

[Raineyrocks]

If you're an associate, you get LDs cheaper.  The price varies.  One day you may spend $.93 per dollar, the next $.95.   You can get coins or paper.  A $20 coin is 1 ounce of silver.  A $20 note is basically a receipt for 1 ounce of silver that you can redeem anytime you want.  Unlike the government dollars, these are backed by silver (and I believe gold as well).  So for every $20 in paper you have, there is 1 ounce of silver stored in a vault, waiting for you to claim it. 

Personally I'd just go all coin and at the Liberty Forum the hotel restaurant was accepting coins but not dollars.  I don't know if other places only accept one form over the other.   And then there are e-liberty dollars, but that's tomorrows' lesson!   

Also, check out www.libertydollar.org

Thanks Quantrill!   I did read libertydollar.org and it confused me even more. Here's where my confusion comes in; let's say an ounce of silver is worth $160, so I can actually get 1 liberty dollar that's an ounce of silver for just $20?   Also who is it that's backing the paper with coinage?

[Quantrill]

I don't have any paper notes, but there should be a phone # and URL on the back on where to redeem the paper.  I'm assuming the folks at libertydollar.org are backing it but I do not know for sure.  That's why I prefer coins cuz then I know that I actually have silver in my possession.

Currently silver is $13.42 an ounce.   So your $20 (or a little less if you're an associate) gets you 1 ounce.  You'll always be paying more for the coin than silver is worth (because this is Capitalism and they need to make a profit ).  But it's easier to trade than so-called junk silver, and everybody knows exactly how much silver you have.  The coins are only worth what people are willing to pay you for them (like baseball cards for instance.  no real value, but some cards sell for $$$$). 

So you spent $20 and have an ounce of silver that today is worth $13.42 as a piece of silver.  That $20 bill you had is worth nothing (cuz it's backed by basically nothing).  Both currencies you can spend as $20 and at least the LDs have some value as silver as well.  To me that's why it seems a good idea to go for LDs.

Of course you can't use them everywhere so I wouldn't put all my savings in LDs.  Hope this helps!

[Raineyrocks]

Wow, that helps me tons!  Thanks Quantrill!   I agree with you I'd rather have the coin too instead of a piece of paper.

[MikeforLiberty]

I agree with you I'd rather have the coin too instead of a piece of paper.

Not to nag, BUT, don't call the Liberty a coin. Big brother owns the word and gets a little grumpy when you call something with real value a coin. Call it a Liberty, a silver, a silver round, or a medallion.

[MikeforLiberty]

FYI there is a new Liberty Dollar forum starting.
http://www.libertydollarforums.org/
The Yahoo list is, well, on Yahoo. 

[PowerPenguin]

I agree with you I'd rather have the coin too instead of a piece of paper.

Not to nag, BUT, don't call the Liberty a coin. Big brother owns the word and gets a little grumpy when you call something with real value a coin. Call it a Liberty, a silver, a silver round, or a medallion.

I use the term "piece" myself. We all know very well what it is, but 1984 was 23 years ago 8-) I just redeemed $250 of me eLD for specie and notes in various denominations. I got some friends and relatives interested, so I'm going to leverage the discounts I have by giving it to them at 10% off or so.

[error]

I'll accept LD warehouse receipts the same as ounces of silver to which they are claim.

[YixilTesiphon]

So I'm a little confused as to how using these things works, say if you wanted to pay the pizza man with LDs, what would you say to him? Would you hand him them and see what he did, or what? How would you explain "this is functionally worth $13.42, but I'm giving it to you as $20" to him?