FAQ
What Are Liberty Dollars?
Liberty Dollars are Digital or Paper Warehouse Receipts for a specific amount of .999 Fine Silver stored in our own or a third party's storage facility. They are negotiable because they can be transferred to any other Member.
Are Liberty Dollars a Form of Money?
In a sense, yes. A recent Supreme Court Decision referenced the fact that digital currencies are a form of money that can be used to make purchases or exchanges. Under the law, it is perfectly legal to use Liberty Dollars in this fashion, as long as you are not handing over physical Silver Bullion at the time of the transaction. That's why these Warehouse Receipts work, because the recipient can redeem them at any time for the actual silver.
Can I Buy Things With Liberty Dollars?
You can barter with anyone who is willing to accept Warehouse Receipts in exchange for goods or services, but they are NOT Legal Tender. This means that no one is required to accept them. The LDFA Marketplace and Store are provided for our Members who wish to market their own goods and services here in exchange for Liberty Dollars.
Can I Get The Actual Silver?
Yes. Just visit https://ldfa.nl for more information.
How Do I Redeem My Silver?
Just visit the "Redeem Silver" page under the "New Transactions" tab in the Members' Menu.
How Do I Convert To Silver Certificates?
Visit the “Order Certificates” page under the New Transactions tab.
What Form Is The Silver Stored In?
The silver in storage is kept as portions of large blocks of .999+ silver. Redemption silver is in one ounce Silver Liberty coins.
What is LDFA's Return Policy
LDFA will buy back your stored silver at any time on request, for the exact SPOT price at that time. Silver bullion coins are not subject to return.
Is LDFA Trying To Compete With The US Dollar?
No. Liberty Dollars and Liberty Dollar Silver Certificates are legal 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. This is a system for the exchange of Paper or Digital Warehouse Receipts, but neither of them constitute "Legal Tender." Both are intended as mediums of barter, and both are redeemable in actual .999 fine Silver Bullion.
Isn’t It Against The Law To Use Liberty Dollars?
No. Liberty Dollars are Digital or Paper Warehouse Receipts giving you title to a commodity equal to a specific volume of .999 Fine Silver and 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 LDFA does not offer any silver rounds that are designed to be used as money.
Is LDFA An Investment Counselor or Broker?
No. We are sellers of Silver Bullion and warehousemen. Our Warehouse Receipts meet the requirements under US and other laws as Negotiable Bearer instruments and can lawfully be used in barter, but we do not promote buying our silver in the hope of a significantly profitable return in the future. Rather, we recommend the use of silver as a means of preserving your spending power against the effects of inflation and devaluation of the dollar.
How Do I Fund My Account?
Click on the “Make Deposit” button. Choose the number of ounces you wish to purchase and complete the transaction. Your USD Value account balance will show you the accurate SPOT price value of your silver; the Silver Ounce Balance will show you how many ounces you own in decimal form; and your Liberty Dollar Balance will show you how many Liberty Dollars you can receive.
What If I Need Cash?
LDFA will buy back any silver in your account on demand and at the current SPOT price, via check by mail, ACH or PayPal. We hope to have our own debit card at some point to which we can load the money instantly, but that is not yet available.
What Does It Cost To Get Silver Certificates?
Our Silver Certificates are based on Silver at $30 per ounce. Members can purchase them at a discount of 10%, so they will cost you $27 per total ounce.
How Do I Redeem My Silver?
Just visit the "Redeem Silver" page under the "New Transactions" tab in the Members' Menu. Each One Ounce Silver Liberty Coin will cost you $27 from your USD Value Balance.
Is There A Premium When I Buy The Silver?
No, we sell storage silver at the current SPOT Price as obtained from Comex. When you wish to redeem the Silver Liberty coins, however, we charge an additional price that is connected to the Silver Base Price on which we issue Silver Certificates, currently $30 per ounce, with a ten percent discount to Members. This allows you to get the coins at only $27 at this time.
How Do I Become A Member?
Simply visit our website at https://ldfa.nl and click on the Register Button. Fill out the form and that will make you a Member of the Liberty Dollar Financial Association.
What Does It Cost To Become A Member?
There is no cost whatsoever to become a Member of the Association.
Is There A Minimum Deposit?
No. There is no minimum deposit required at any time.
How Do I Log Into My Account?
Just return to the website and click on the “Log In” Button.
How Do I Send Money To Another Member?
You can send Liberty Dollars by going to the New Transactions tab on the menu, and selecting Send Payment. Enter the email address of the person to him you are sending the payment, and the amount of Liberty Dollars you wish to send.
How Do I Request A Withdrawal?
Go to the New Transactions tab on the menu and select Request Withdrawal. On the form that appears, you can input the amount of money in US Dollars you wish to withdraw. Then, you will select the withdrawal method. You can choose from PayPal, ACH or a Check By Mail.
How Do I Make A Deposit Or Withdrawal Using ACH?
In order to use ACH, you must first enter your bank information on your profile. When you go to the page to make a deposit or withdrawal, you will be prompted to select the bank account you wish to use.