The front of the new dollar Liberty depicts the statue of liberty. These coins are legal tender! photos (c) NORFED, Inc.
Liberty dollars were produced by an organization now defunct under the name "National organisation for repeal of the Federal Reserve Act and the internal revenue code" bulky, or NORFED for short. Objective of NORFED, according to its founder Bernard Von NotHaus, was to provide an alternative currency that is output from the u.s. Federal Government: a currency that is backed by gold and silver and then inflation-proof. NORFED fabricated these coins in various denominations, including $ 1, $ 5, $ 10 and $ 20 to $ 500 in silver and gold.
The u.s. Mint has issued a consumer advisory warning people that the dollar of freedom NORFED might be confusing to consumers and affirming their use as circulates federal money was a crime (which criticises NORFED). What makes these dollars Liberty so dangerous in the eyes of u.s. Mint is that liberty dollars were designed to look quite as existing circulating coinage U.S.. These are the similarities and how to tell them apart:
In addition to coins is distributed by NORFED, there is a printed currency in the form of various denominations of the dollar. These paper dollars of freedom are far less worrisome, because it does not look not at all like real U.S. paper money.Confusion about the dollars NORFED-The reason that these coins dollar Liberty were deemed potentially confusing by the u.s. Mint is that the Mint has introduced a new type of coin a dollar in February 2007, called the presidential dollar. Any time there's a big change for the Coins, there is bound to some confusion, and unfortunately the Mint feels that these so called "Liberty dollars" are quite similar to real coinage of U.S. that people could take during monetary transactions without realizing that not the U.S. firm.
What to do if you encounter NORFED Liberty dollars-Although it is not against the law to own these dollars of freedom as a collector's item, it is illegal to use them to conduct any business in the United States. If a merchant you tries to give one, politely decline. If they insist, arguing that these coins are legal tender, you should cancel the entire transaction with that merchant and report them to your local field office of secret services.
The Presidential dollars are golden-colouredIf someone tries to give you a dollar coin that do not recognize or are unsure, just remember that the only type of currency dollar is the "golden dollar," the same size and color as the Sacagawea dollar. The United States shall not make every penny, nickel, or dollar dime sized coins dollars more than a silver alloy.
