Non-Circulating Legal Tender, Liberia

There is always a difficulty in finding the boundary between "NCLT" and "NCNLT" (non-circulating non-legal-tender), also known as "fantasy coins".

To fit the definition of "coin", a legitimate government must agree to assign the coin legal tender status. Less reputable mint corporations would very much like to make "coins" without having to share profits with said governments. As a result, many NCNLT "coins" are made by these less reputable mints, in the name of countries but without those countries knowledge or consent. Often, these mints select as flags of convenience a country undergoing civil war or anarchy (Liberia and Somalia were popular choices), or tiny out-of-the-way Pacific Island countries (like Nauru or Tuvalu) which are so remote and difficult to contact that it can be next to impossible to verify that a coin has indeed been granted legal tender status. The third choice is, of course, for a mint to make coins in the name of a fictitious country or unrecognized micronation (like Hutt River Province).

It should not surprise anyone that this particular coin made it into the Krause catalogues - the people that made the catalogue, literally also made the coin in this instance, and they would have been reluctant to declare their own coin to be "unofficial", and Pobjoy is generally a "reputable" mint which does things above board. But a majority of coins made in the name of Liberia at around this time period do not meet the criteria of "coin", and as such are not listed in the mainstream Krause; if they are listed at all, they get filed in the "Unusual world coins" catalogue, with "X" numbers instead of "KM" numbers.

I do not collect modern 'bright and shiny' silver mint product, because
in most cases, it sells so poorly in the numismatic after market.

When I do acquire this sort of material (of which I have a few items), it has to be very close to melt value.
That puts me close to being a silver stacker for these coins.