Government Getting Ready to Confiscate Liberty Dollars

I warned people that a broke government would be looking for ways to take all that gold and silver people are hoarding. From Coin World:

Liberty Dollars held by collectors may be subject to seizure as contraband by federal law enforcement, officials with the U.S. Attorney’s Office and Secret Service said Aug. 24.

Statements by officials for those two federal law enforcement agencies seem to reverse the position taken in comments released from the United States Attorney’s Office in Charlotte, N.C., and published in Coin World in April, that mere possession of Liberty Dollars did not constitute a violation of any federal statute.
That position has apparently changed, although officials of the U.S. Secret Service — which would be the federal agency likely charged with executing any possible seizures — would not provide any definitive comments concerning under what circumstances Liberty Dollars would be seized.

The revised stance is tied to the Liberty Dollar being determined in a federal court to violate federal counterfeiting statutes. Liberty Dollars, metallic medallic pieces, were privately promoted as a form of currency that could be used in commerce as an alternative to Federal Reserve notes.

Jill Rose, chief of the criminal division for the U.S. Attorney’s Office in Charlotte, N.C., told Coin World Aug. 24 that the Liberty Dollar medallions are confiscable as contraband regardless if they are being exhibited for educational purposes only.

Rose served as lead prosecutor in the Bernard von NotHaus case. Von NotHaus, creator of the Liberty Dollars, was convicted in federal court in March on multiple charges involving the alternative currency.
Rose said because von NotHaus’ conviction included violations of Sections 485 and 486 of Title 18 of the United States Code, the Liberty Dollar medallions were determined to be counterfeits, contraband and subject to seizure.

The Liberty Dollar represented “a pyramid scheme imbedded with fraud” that had nothing to do with barter or trade, according to Rose.

“Barter is an equal and knowing exchange,” which the Liberty Dollar was proven in court not to be, Rose said.

Er, OK. Sounds like she’s splitting hairs on this but the main point here is that all your “liberty dollars” are basically worthless since it’s now illegal to spend them. I’m willing to bet money that lots of other coins people have invested in are going to be declared counterfeit money in the next few years.

I suggest taking the holders of these coins grab themselves a Lee ingot mold and a Lee lead ladle and start melting these coins down pronto. The silver is still not illegal – but the form they’re in now is. Luckily silver melts down pretty well.

h/t Shenandoah

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