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January 23, 2006

NORFED’s ALC, the “New American Dollar”

Posted by Eric at 8:19 am. Filed under: Randomly Interesting

I ran across this interesting concept today. It’s not new, as they’ve been around since the late ’90s, but still I found it fascinating. Bernard von NotHaus is trying to compete with the Fed by creating a silver backed currency. Apparently some businesses are accepting and giving change in the new currency.

In Buffalo, over the weekend, it appears someone wasn’t happy that they couldn’t buy beer with it, so if you do switch to the new currency, be sure you carry some back up dollar bills, and be nice to the friendly officer that wants to find out what you are doing.

Southtowns businessman Daniel Buczek said he has had “no trouble” using Liberty silver dollars to buy coffee, oil filters for his car and other items at a number of area businesses.

But when someone in his family tried to use them to buy beer at a Buffalo Sabres game, Buczek and his son wound up in trouble with the law.

Buczek, 55, and Shane Buczek, 34, both of Derby, are believed to be the first people to be charged in this region for trying to make purchases with the Liberty dollar, a privately minted $20 coin.

Wikipedia has more.

Interesting stuff. Fringe? Definitely. Will it succeed? Who knows, stranger things have happened.


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