Frequently Asked Questions

Using Liberty Dollars

Yes. Our LD Marketplace and LD Classifieds are two ways to find things you want and need that can be purchased with eLD and Liberty Dollars, and you can barter with anyone who is willing to accept Warehouse Receipts in exchange for goods or services. However, it's important to remember they are NOT Legal Tender. This means that you cannot put them in the bank, pay taxes or other government fees with them and no one is legally required to accept them.

 

Silver Saver Certificates

The Silver Saver Certificates aren't actually paying interest. When someone buys one, we take silver we already have on hand and set it aside to guarantee the final value in ounces of silver, and then we use the money to purchase more silver that we can get at a discount to replenish our reserve supply. If the Saver Certificate is held for its full term, the holder can receive the silver, or have it credited to their eLD account and use it to purchase Silver Certificates or spend it online. If not, then they only receive back the eLD they paid for it.

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Selling Your Silver

No, I'm afraid not. To buy pre-owned Silver requires a license we do not have. We can only sell new Silver Bullion, and we can only buy back the uncirculated Silver from Silver Members that we keep in our storage facilities to secure your Liberty Dollars and eLD. Once it leaves our facilities, we can't buy it back again.

If you are a Silver Member or greater, the answer is yes. If you want to cash out your eLD, you can do so through that system by clicking the "Sell Silver" link. For Silver Certificates, the instructions are on the Redemption page. We'll buy it back at the current base less the discount we offer when you buy it from us, so you can't lose money to us on the Silver. We ask you to realize that it can take up to five business days to complete the buy-back, because we have to transfer funds to the right account for buying back the silver.

 

Redemption

Yes. You can redeem your silver at any time. If you have eLD, there is an easy way to do it through our system. For Silver Certificates, simply visit our Redemption Page and follow the instructions there.

 

Category: Redemption

Liberty Dollars

No. eLD and Liberty Dollars are Warehouse Receipts giving you title to a specific volume of .999 Fine Silver 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 Liberty Dollar Network does not offer any silver rounds that are designed to be used as money. or even look like the old Silver Libertys.

 

Category: Liberty Dollars

No. Liberty Dollars are legal Silver Certificate 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. eLD is a system for the exchange of Digital Warehouse Receipts, but neither of them constitute "Legal Tender." Both are intended as mediums of barter, and either is redeemable in .999 fine Silver Bullion rounds or bars.

Category: Liberty Dollars

LDN

No. We are sellers of Silver Bullion. Our Warehouse Receipts meet the requirements under US law as Negotiable Bearer instruments and can lawfully be used in barter, but we do not promote buying our silver in the hope of a profitable return in the future.

 

Category: LDN

CCO

A CCO is a Community Currency Office. We will be introducing a new Community-branded Liberty Dollar shortly, and they will be promoted by CCO's who will help local Merchants understand the security and benefits of accepting them. By using Liberty Dollars in the local economy, more of the money the people spend will remain there and continue to circulate locally for years to come, rather than leaving the area with Big-Box stores and National Chains.

 

Category: CCO

Base

Because the spot price changes frequently, we use a higher base in order to make our Warehouse Receipts remain stable at a given value for a period of time. In the event that the spot price of silver rises above that base and remains there for any length of time, we will adjust that base upward. Currently, we sell only the highest quality Silver rounds and bars at a Member Discount off our Silver Base of $25 per ounce, which means that the warehouse receipts are valued at that rate, as well. We also commit to buy back your silver at the same discount from our current Silver Base at that time, should you need to reclaim the money you paid for it in order to pay bills or make purchases. This means that we will always buy it back from our Members for no less than what you paid us for it.

 

Category: Base

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