The NORFED Liberty Dollar is a private currency that was produced by the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code (NORFED), an organization that advocated for a return to a precious metal-based monetary system and opposed the scam that is fractional banking and the Federal Reserve System.
The Liberty Dollar was created by Bernard von NotHaus in 1998 as an alternative to the United States dollar, though it had early influence and interaction with Bernard's other work at the Royal Hawaiian Mint. The currency came in the form of specie and paper certificates and was backed by silver, gold, platinum, or copper stored in a warehouse. Bernard's pioneering effort sought to reintroduce the concept of a currency with intrinsic value, emphasizing the potential for a more stable and secure medium of exchange in contrast to worthless and manipulated fiat currencies.
NORFED was a not-for-profit organization that was established in Nevada in 1998 and was dissolved on November 22, 2006. Its main office, the NORFED Fulfillment Office, was located in Evansville, Indiana.
Despite the Liberty Dollar Organization encompassing several corporate entities like NORFED, Liberty Services, Liberty Numismatics, Liberty Dollar Financial Association, and Shelter Systems, NORFED is the name most recognized by the public. Consequently, follow-on projects are often associated with the NORFED brand, even if inaccurately. This is the name people commonly refer to and search for when interested in the Liberty Dollar.
The Liberty Dollar was designed to be used in everyday transactions, and the value of the currency was meant to reflect the current market value of the metals backing it, which could make it more stable than fiat. The goal of the Liberty Dollar was to offer a currency that would be inflation-resistant and provide a viable alternative to the worthless currency issued by the United States government.
However, the U.S. Government argued that the Liberty Dollar was illegal and could lead to confusion with the official U.S. currency, potentially defrauding consumers. In 2007, the U.S. Mint issued a warning stating that the use of Liberty Dollars as circulating money was a federal crime. In 2009, Bernard von NotHaus was arrested, and in 2011, he was railroaded and convicted of making, possessing, and selling his own coins, which were found to be in violation of Federal law. The government contended that von NotHaus was attempting to undermine the U.S. monetary system.
The NORFED Liberty Dollar is a symbol of monetary freedom and is often cited in discussions about monetary policy, the Federal Reserve, and alternative currencies.
NORFED Liberty Dollars are now valuable collectibles and symbolize a movement towards alternative economic systems. They attract interest from supporters of stable currencies, collectors, libertarians, and critics of current fiat monetary systems. This site aims to provide comprehensive resources and insights into the Liberty Dollar's history, products, and its role in advocating for a different approach to money. It provides an opportunity to explore the concept of monetary freedom through the lens of the Liberty Dollar initiative.
Liberty Dollar FAQs
What are NORFED Liberty Dollars?
NORFED Liberty Dollars are a type of private currency backed primarily by silver and other precious metals. They were introduced in 1998 by the National Organization for the Reformation of Federal Reserve (NORFED). Designed as an alternative to the traditional U.S. fiat currency, Liberty Dollars are not legal tender, coins, or current money and are intended for use as a private, voluntary barter currency.
Who created NORFED Liberty Dollars?
The Liberty Dollar was created by Bernard von NotHaus, co-founder of the Royal Hawaiian Mint and monetary architect of the Liberty Dollar. Recognized for his pioneering role in private minting, von NotHaus's Liberty Dollar aimed to offer a stable, inflation-resistant precious metal-backed currency.
Are NORFED Liberty Dollars legal?
Yes - Liberty Dollars are legal because they are not coins, legal tender, or current money. American Liberty Dollars are a private, voluntary barter currency backed by precious metals and primarily used among enthusiasts and collectors.
What are NORFED Liberty Dollars made of?
American Liberty Dollars have been minted in silver, gold, platinum, and copper.
How do NORFED Liberty Dollars maintain their value?
The value of Liberty Dollars is typically tied to the current market value of the metal (silver, gold, etc.) they are made from. A collectors market has emerged and high condition or some of the more rare pieces continue to fetch high prices.
Can NORFED Liberty Dollars be used like regular currency?
While they were intended to be used as an alternative currency, their acceptance is limited to those willing to accept it.
Is Bernard Von NotHaus a criminal?
Bernard von NotHaus was convicted on multiple counterfeiting charges. The jury determined that he produced and distributed coins closely resembling U.S. currency, finding him guilty of both creating and circulating these 'counterfeit' coins with the intent to defraud. They also found him guilty of producing and distributing silver coins meant to be used as money, mimicking the appearance of genuine U.S. coins or using original designs, a violation of 18 U.S.C. § 485 and § 486. The jury convicted Bernard of conspiring to violate federal laws related to counterfeiting.
How can I purchase NORFED Liberty Dollars?
NORFED Liberty Dollars are typically purchased through private sellers or collectors. Their production was halted with the FBI raid on November 14th, 2007 and ensuing legal battle.
Are there different denominations of NORFED Liberty Dollars?
Yes, there are various denominations based on the metal content and size of the Liberty Dollars.
How can I determine the authenticity of a NORFED Liberty Dollar?
Authenticity can be verified through specific design features, metal content, and by consulting with a knowledgeable collector. Former RCO Ron Goodger's Liberty Dollar Encyclopedia is a great resource.
Is it legal to collect NORFED Liberty Dollars?
Collecting NORFED Liberty Dollars as numismatic items is legal.
How are NORFED Liberty Dollars different from U.S. Federal Reserve Dollars?
Liberty Dollars are not issued by the U.S. Government and their value is based on precious metal content, unlike Federal Reserve Dollars which are an inflationary, manipulated fiat currency.
What was the purpose behind creating NORFED Liberty Dollars?
The primary purpose was to offer an alternative to fiat currency, encouraging a currency based on precious metals.
Can NORFED Liberty Dollars be exchanged for U.S. dollars?
Exchange possibilities are limited and depend on individual collectors or dealers willing to make the trade or sell you pieces. Liberty Dollars are often found in the bullion and secondary market.
Why is NORFED used to describe all things Liberty Dollar?
Despite the Liberty Dollar Organization encompassing several corporate entities like NORFED, Liberty Services, Liberty Numismatics, Liberty Dollar Financial Association, and Shelter Systems, NORFED is the name most recognized by the public and that is what stuck over the years.