Quote:Just curious, why would anyone buy these over
ASE (or any other coin)?
When I bought mine Obama had just been ushered into office. History proved it was a no brainer the economy would tank big time, so I knew I people would want PMs and they were going to go up - just common sense.
In the area I live, there is an indoor farmers' market that, at that time, had a machine for dispensing Liberty dollars. This is how I learned of the NORFEDs.
Seeing the prices previous NORFEDs were already bringing (from a numismatic point of view) I did not see how NORFED rounds would decrease in value even if D.C. became pro-American at some point in the future.
Sure enough, NORFEDS still bring higher premiums if sold where collectors can get them. Even the ones I had are selling now for around 45.00 - 48.00 each. While the ASEs are nowhere near this. In the future, I see these as being similar in collectability to other private issued currencies that became popular in their own day.
BTW - I love ASEs!
At the time I was not fully aware of the "political" aspect of them. But as I looked into them more (after I had bought some instead of ASEs), I found myself liking someone's PM based specie idea had taken off.
@Steve:
You may be correct on the Feds being able to get these guys on technicalities of syntax. But from what I understood at the time, NORFED was saying "inflation proof" in terms of a silver dime can still buy, in today's world, the same amount of goods it did in the 60s (maybe a little more). In this way silver backed money is "inflation proof." Its value is not determined by a bunch of bureaucrats who have given themselves an unlimited ability to make as much "money" as they want (since its based on nothing).
Yes, you are correct in that the market bounces up and down, but I think (note that word) that pretty much a silver coin has retained its buying power while the dollar has sunk.
Currently there are many areas where our Constitutional rights are being assaulted. When reading everything I could on the trial - from both sides - the main problem I had with the case against Nathaus is that the FBI's position would allow the government the power to to tell people what they could and could not take as payment for a service/product. Also, the FBI's argument manipulated the data in their favor by showing the large, OZ coins next to an enlarged picture of a
Mercury dime in an effort to show how much the NORFED stuff "looked like"
US coinage. To me this was deceptive - sort of a white lie.
I aslo agree with you that the new people could make their stuff 12 sided or something would totally erase the ridiculous "counterfeit" idea.
Although I think a 3rd grader can tell the differences of the orginal NORFED oz.s and a real coin easy enough.
Another thing that really bothers me is that by definition a counterfeit is something meant to deceive a person into taking something of lesser value for payment. I find it very interesting that the original NORFED rounds could be called counterfeit from the standpoint that even if someone mistook one for the only coin that vaguely resembles them in size - a
Peace dollar - since the NORFED is 1 ounce - it is actually worth more in melt that the
Peace dollar! The person would be getting something worth MORE than what they thought it they were. I am sure there is a reason Henning did not make his nickels out o silver!
Quote:
Here I can't just help but think that this "NLD" thing is just jumping on the bandwagon to try and pick up where NORFED left off for the sake of personal gain, rather than the principle.
This may be. But I also have to wonder if the newbies are not just taking the design since it already has such a widespread usage as compared to any other barter currency made? I think the fact that NORFED rounds became so popular (something like 6 million being used at the peak) was the reason the Feds nailed NatHaus, and why the Fed wants to wipe out anything having to do with them from the public eye (such as telling
ebay they cannot allow auctions containing NORFED rounds).