This is an introduction to the American Liberty Dollar that I wrote for the old Liberty Dollar Online forums. Sadly, those forums have been AWOL for several months now.
So, what is the Liberty Dollar? This is the forum where we hope to answer those types of questions. If you are new to ALD, take some time and read the many pages of information that can be found on the Liberty Dollar site. I’d start with the Introductory Essay. Don’t want to read about it? You might want to check out the History Channel special that is linked on the Libertydollar.org front page, or just click here.
Still too much information for you?
Short and sweet then. The Liberty dollar is money. Technically speaking, it is money based on one ounce of silver; a dollar value is attached to that ounce of silver that roughly equates to the FRN dollar value of 1 ounce silver numismatic items currently in circulation.
Huh? Too short? Sorry. Once upon a time…
There was a time in the not too distant past when the US dollar was based on an amount of real metal, and you could trade paper dollars and checkbook dollars for real silver dollars if you wanted. (If you really want to know more about that go here) Even before that time, US money was based on a quantity of metal. From the very beginning of the US as a nation, the dollar was represented as being worth a certain amount of silver (371 4/16 grains) and it remained that way through most of US history until the Federal Reserve was established to ‘regulate money’. Since that time, the number of dollars in circulation has been increased to the point that what was once a dollar worth of silver is now (at this writing) nearly 10 dollars. The Liberty Dollar was created as a way to combat this growing problem. The Liberty Dollar is first and foremost based on a unit of silver weight (1 ounce .999 fine silver) The ounce of silver is then divided into the number of dollars that current market price for silver dictates, based on a formula that can be found here. What it amounts to is that the dollar value increases as the silver value increases, providing a ‘store of value’ as money ought to be.
Still have questions? Well, that is what we are here for. There are many other resources to tap at the liberty dollar site, including “The Mother Lode of Information“. Look around there, browse here; or just post a note. We’ll try to point you in the right direction.