http://www.sheilacrismon.com/silver-peace-dollar/
Silver Peace Dollar
Should Gold and Silver be “illegal” Tender?
Years ago, if you wanted to buy something you paid in coins minted from, or at least backed by, precious metals. United States currency, for example, was backed by gold held by the government – hence the term “gold standard”. Your dollar was backed by a dollars worth of gold which in theory you should have been able to get by simply turning in your dollar.
Since that time however a lot has changed. The dollar is no longer primarily backed by the tangible, but rather the intangible. It is basically backed by itself on the condition of the stability of the United States government, the productivity of the citizens of the United States and the willingness of foreign countries to use it as a guarantee of their own currency.
This, of course, is problematic because of a pesky little thing called the United States Constitution which states, “No State shall ... make any Thing but gold and Silver Coin a Tender in Payment of Debts “. So if no State can do this, then how can they allow a currency issued by the federal government to be used by their citizens?
A quick scan of all the amendments made to date shows no repeal of that clause was ever made. Which means that it is still valid and “the law”.
To me, at least, it seems we have a bit of a problem even though to me it doesn’t really matter what the dollar is backed by. Although there are many that are indignant at anything other than what they want used as a basis for value being used. My opinion is that as long as whatever backs the dollar is valued, it doesn’t matter what that something is.
Everything that could be proposed to back the dollar has periods of highs and lows. I don’t care what you come up with. Even the value of gold fluctuates with supplies, new sources being mined, old sources drying up and even plain old demand just as the value of the perceived stability of the American government and its promises to back its own currency do.
So to me it has always been a moot point. Base the value of the dollar on whatever you want. Just make sure that that “whatever you want” is valuable and be careful. As the old story goes, leaves make great currency until you discover a forest. Then you have to worry about inflation.
But I do believe that we should abide by the Constitution. Or at least be willing to change it by amendment if we no longer think that the standard set forth in it is no longer valid or attainable.
So fast forward with me if you will to the modern day. Arrive with me at just this past month when FBI agents raided and seized the precious metals and coins owned, minted and circulated by Liberty Dollar. The company is owned by Bernard von NotHaus and has been minting its own coins for a decade which some, and I emphasize some, companies and individuals have chosen to accept as legal tender for exchange of goods and services. All told, it appears that over the years millions worth of “Liberty Dollars” have been placed into circulation and all are backed by precious metals and a guarantee by Liberty Dollar.
Disclaimer time so bear with me. I supported the concept of the Liberty Dollar until Mr. von NotHaus decided to make his enterprise a political operation instead of simply an exercise in Constitutional adherence. By producing coins with a political messages such as the anti-war “Peace Dollar” he thoroughly ceased ingratiating himself in my mind and became someone that doesn’t understand the dangers facing American and individual liberty. And when the “Ron Paul for President” coin became available, well, he became a basically a fund raiser and promoter for that candidate. Personally I believe that he ruined a good idea even if it had yet to really catch on. If I had been him I would have kept the politics out of it.
I think it is only right to also disclose that I have never used any of the products by Liberty Dollar for two reasons. First, because I could not get any local retailers to say they would accept them. Second is that the value of the coin is not backed by its actual value in precious metal. For example, from the Liberty Dollar website, “When the price of silver rises near $10 per ounce, a new $20 Warehouse Receipt series will be issued. All new Certificates will be identified with "$20 Silver Base. The new $20 denomination certificate will be backed by one ounce of .999 silver”. Note that that “one ounce” however is only worth “near $10”. I didn’t think it was a good idea to invest something that wasn’t worth nearly its weight in gold ... um ... I mean silver if you know what I mean.
I liked the idea, but hey, those are the breaks. Currency doesn’t do you any good if no one values it at the value you assign to it.
So, back to the FBI raid on Liberty Dollar. It was because the government claimed that the company’s money was too “similar” to “official” U.S. currency even though the “official” U.S. currency isn’t based on the Constitutional provision of being gold and silver backed. To which I ask the obligatory question of, “So what?” Is there now some monopoly that the federal government should have over how we conduct our business?
Not according to the Constitution. The Constitution doesn’t give the federal government the exclusive right to be the sole source of “money”. It only gives the government the power to issue money stating, “The Congress shall have Power ... To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures“. Being the strict constructionalist that I am, I have to call it as I see it.
There are also other charges that appear to be headed to court to be sorted out. Issues such “counterfeiting”, a bogus charge because Liberty Dollar was not creating copies of the federal currency, and others such as whether or not the endeavor was a sort of ponzi scheme where the coins were sold at more than the value of the gold, silver, etc that backed them.
You see the potential problem here. The money is inflated in value as I previously discussed. But you can’t really make the money and pay for the costs of turning the raw metals into coins without charging more than it is worth right? After all, it takes many times the value of an “official” U.S. dollar bill to keep it in circulation than the value of the dollar bill in the first place. So the same problem exists with federal money.
As long as people agree to accept the currency as payment shouldn’t we let them? If people are willing to accept the coin and Liberty Dollar makes good on its pledge to redeem the currency for the precious metals that back it as promised when asked, what really is the problem here? Should gold and silver not be legal currency? Should people not be allowed to barter and trade in any form they desire for goods and services barring the infringement of someone’s rights in the transaction? Or should the government be allowed to dictate what we can and cannot use as “currency” for private transactions?
And if gold and silver are not to be legal currency, then wouldn’t every coin dealer in America be just as guilty as those that created the Liberty Dollar each time they bought or sold a coin? What about the local pawn shop that buys and sells jewelry made of gold and silver?
Shouldn’t we be able, as free people, to trade something for something else of our own free will?
These are serious questions that need to be answered. Because in a time not too far removed from modern day, we as Americans, used to conduct our business in things other than the paper money and coins of modern day America. We offered gold and silver and even cows and chickens as payment for our debts and to acquire services. Heck, at one point in America, “wampum” was a currency for God’s sake! Wampum, for your information, being polished shells plentiful in the ocean to anyone that had the drive to fetch them.
If I offered you a steaming pile of fresh manure for a dozen eggs because you could use the manure to fertilize the corn in your field should the government have the right to tell us, “No, you can’t do that”?
About the Author
J.J. Jackson is the owner of American Conservative Daily Blog. He is also the lead designer for The Right Things - Conservative Political T-shirts. His weekly articles and exclusive content can be found at Liberty Reborn.
 |
 1922 Peace Liberty Head Silver Dollar Excellent Condition $28.23 (6 Bids) Time Remaining: 38m |
 1928 S Peace Silver Dollar Better Date Nice Looking Coin $55.00 Time Remaining: 29d 19h 37m Buy It Now for only: $55.00 |
 1922 D SILVER PEACE DOLLARNO RESERVE $25.00 (6 Bids) Time Remaining: 1h 32m |
 Peace Dollars 1921 1935 90 SILVER FREE SH $38.00 Time Remaining: 8d 28m Buy It Now for only: $38.00 |
 1926 S Peace Dollars SILVER 90 $24.95 (4 Bids) Time Remaining: 7h 12m |
 4 MORGAN PEACE DOLLARS MIXED LOT 2 MORGANS 2 PEACE SOLD AS 90 SILVER $100.45 (5 Bids) Time Remaining: 10h 15m |
 Rolls all better Grade Peace Dollars 1922 1935 PDS $599.00 Time Remaining: 5d 10h 10m Buy It Now for only: $599.00 |
 1922 S 1923 S PEACE DOLLARS SILVER 90 LOT OF 2 $49.00 (13 Bids) Time Remaining: 7h 2m |
 1922 P 1922 D PEACE DOLLARS SILVER 90 LOT OF 2 $47.00 (6 Bids) Time Remaining: 7h 8m |
 1923 P Peace Silver Dollar NGC MS63 ALL BEAUTIFUL NICE COINS GREAT INVESTMENT $49.95 Time Remaining: 20d 21h 5m Buy It Now for only: $49.95 |
 Lot of 2 peace dollars 90 silver 1922 plain 1922 D $41.00 (5 Bids) Time Remaining: 8h 51m |
 1928 P PEACE SILVER DOLLAR NGC XF Details grading KING OF PEACE DOLLARS $250.00 Time Remaining: 13h 32m Buy It Now for only: $350.00 |
 1926 D BU Peace Silver Dollar SELECT FREE SHIPPING Rare Denver Mint 1 Coin $149.99 Time Remaining: 6d 21h 33m Buy It Now for only: $149.99 |
 1923 S Peace Silver Dollar 2608 1 Day Many Silver Dollars Today $0.99 (1 Bid) Time Remaining: 14h 38m |
 100 Morgan and Peace Silver Dollars 90 Silver Wholesale Bullion Lot $2,725.00 Time Remaining: 1d 10h 23m Buy It Now for only: $2,725.00 |
 1922 P 1922 D 1922 S PEACE DOLLARS SILVER 90 LOT OF 3 $78.77 (8 Bids) Time Remaining: 7h |
 1922 Peace Silver Dollar PCGS MS65OGH No Reserve $107.50 (16 Bids) Time Remaining: 14h 23m |
 1928 S PEACE Dollar Silver $55.95 Time Remaining: 6d 19h Buy It Now for only: $55.95 |
 1928 S Silver Peace Dollar Well maintained No Reserve 77344 Oz ASW $31.40 (8 Bids) Time Remaining: 7h 53m |
 1925 S PEACE DOLLAR Detailed SHARP Key Rare Coin NO RESERVE Free Shipping $24.05 (8 Bids) Time Remaining: 2h 16m |
 Uncirculated 1 Coin US Peace Dollar Silver Bullion Lot $59.95 Time Remaining: 12d 23h 29m Buy It Now for only: $59.95 |
 1935 S Silver Peace Dollar Well maintained No Reserve 77344 Oz ASW $32.55 (9 Bids) Time Remaining: 7h 58m |
 Peace Dollar Silver 1922P Brilliant Uncirculated $20.50 (6 Bids) Time Remaining: 9h 13m |
 1928 S Peace Dollar NGC UNCDetails Rev Damage $175.00 Time Remaining: 9d 20h 27m Buy It Now for only: $175.00 |
 1922 S SILVER PEACE DOLLAR GUARANTEE AUTHENTIC US COIN MINTED US MINT FLAG 889 $32.00 (5 Bids) Time Remaining: 14h 36m |
 1922 D Peace Silver Dollar 2607 1 Day Many Silver Dollars Today $3.25 (2 Bids) Time Remaining: 14h 36m |
 1926 D PEACE DOLLAR PCGS MS65 w CAC GORGEOUS PQ+++ $925.00 Time Remaining: 29d 20h 33m Buy It Now for only: $925.00 |
 1922 D Peace Silver Dollar 2611 1 Day Many Silver Dollars Today $3.50 (2 Bids) Time Remaining: 14h 45m |
 AVC664 1926 S PEACE DOLLAR NGC MS63 $105.00 Time Remaining: 6d 20h 53m Buy It Now for only: $105.00 |
 1928 Peace Silver Dollar Choice UNCIRCULATED SCARCE KEY DATE $303.03 (7 Bids) Time Remaining: 20h 38m |
 1923 P Peace Silver Dollar 2610 1 Day Many Silver Dollars Today $0.99 (1 Bid) Time Remaining: 14h 42m |
 Rare 1922 d1923 d 1926 d 1927 d and 1934 d Peace dollars SEE PROMOTION $179.50 Time Remaining: 6d 22h 4m Buy It Now for only: $179.50 |
 1928 Peace Silver Dollar XF Rare Key Date $162.50 (20 Bids) Time Remaining: 20h 21m |
 1924 S PEACE SILVER DOLLAR MS BU GEM US COIN RARE $3.50 (3 Bids) Time Remaining: 19h 39m |
 Peace p Dollars 1922 thru 1927 1934 1935 SEE PROMO $299.50 Time Remaining: 6d 22h 30m Buy It Now for only: $299.50 |
 1928 S PEACE SILVER DOLLAR MS BU GEM US COIN RARE $27.27 (3 Bids) Time Remaining: 19h 59m |
 1922 S Peace Silver Dollar CH AU nice Luster $30.69 (6 Bids) Time Remaining: 13h 27m |
 Peace dollars 1922 p1922 d 1922 s SEE PROMO $109.50 Time Remaining: 6d 22h 44m Buy It Now for only: $109.50 |
 1926 Double Die Reverse ICG MS62 Peace S1 Silver No Reserve Cool Coin $30.00 (17 Bids) Time Remaining: 14h 46m |
| Account limit of 2197 requests per hour exceeded. |
|
|
The Complete U.S. Peace Silver Dollar Coin Collection $69.99 In 1921, plans for a new coin took shape. The Peace Silver Dollar commemorated the nation's hopes and dreams after the Great War, and is considered one of the most beautiful U.S. coins of all time. Now, The Bradford Exchange Mint gives you a rare opportunity to own the complete Peace Silver Dollar collection - including all coins issued between 1922-1928, and those issued when minting resumed in 1934 and 1935. Liberty and peace shine forever bright beginning with Issue One, 1922 Peace Silver Dollar. Soon, your collection will continue with Issue Two, a deluxe wooden display box, a $70 value, yours FREE. Additional collectible U.S. Peace Silver Dollars, each a separate issue, will follow.‡Each heavyweight commemorative coin in your collection is minted in 90% pure silver, and features Anthony de Francisci's portrait of Liberty on the obverse side and the Peace Eagle on the reverse. These scarce coins arrive in crystal-clear tamper-proof panels featuring a holographic Bradford Exchange Mint logo and bar code to verify authenticity. Many of these preserved silver dollar coins are almost a century old, and have been out of circulation for decades, so the opportunity to acquire a complete set is truly a rare one. Act now to ensure you receive the complete U.S. Peace Silver Dollar collection. Strong demand is expected, so order now! |
|
|
World Peace Spinner Pendant with Silver Half Dollar $72.72 Pendant is inspired by the hope shared by people around the worldFeatures a Walking Liberty Silver Half Dollar Pendant has a white dove carrying an olive branch, the symbol of peaceSet in a unique bezel, the coin spins full circle to display the powerful Lady LibertySuspended from a 24-inch chain |
|
|
American Coin Treasures Peace Silver Dollar Collection $3118.33 Collecting a full set of Peace Dollars is a serious challenge. The U.S. Treasury kept most in storage, and many were melted for their silver during World War II. Most Americans have never seen the coin created to celebrate the end of World War I. This prestigious collection contains one hand-selected Peace Dollar from each year of issue (1921-1935)Coins are made of .900 fine silverIncluding the 1921 first year of issue, the only year the famous design was struck in high reliefDisplayed in a handsome leatherette caseComes with a printed historyIncludes a certificate of authenticityThese coins are not graded. They are circulated coins. We guarantee that all dates and mints marks are clear and readable. We also guarantee that these coins are free of any major defects. All are inspected by one of our numismatists prior to being added to the collection. |
|
|
American Coin Treasures World Peace Spinner Pendant with Silver Half Dollar $90.52 Pendant is inspired by the hope shared by people around the worldFeatures a Walking Liberty Silver Half Dollar Pendant has a white dove carrying an olive branch, the symbol of peaceSet in a unique bezel, the coin spins full circle to display the powerful Lady LibertySuspended from a 24-inch chain |
|
|
Morgan Silver Dollar Watch $295 Morgan Silver Dollar Watch |
|
|
A Bran New Silver Dollar $89 A Bran New Silver Dollar |
|
|
Three Centuries Of U.S. Silver Dollar Coins $249 While silver has been closely tied to the history of man for thousands of years, it didn't become a part of our American history until 1792 when Congress based our young nation's currency on the silver dollar. Now The Bradford Exchange Mint has put together a set of three of the most coveted silver dollar coins spanning three centuries of America starting in 1878 to the present. You won't want to miss this piece of history!Your one-of-a-kind set includes an 1878 Morgan Silver Dollar and a 1935 Peace Silver Dollar - both 90% silver - and an uncirculated, mint condition 2009 American Eagle Silver Dollar that is 99.9% pure silver. Plus, to show off and protect your commemorative coin set, it arrives in a handsome wood case that showcases the coins in a fold-up tray allowing for display of each coin's obverse and reverse. The case also includes magnificent details such as: a rich mahogany finish, glass top with decorative filigree design, silver-finish hinges and drawer knobs, and a working lock with antique-style key for safekeeping. But hurry - supplies are limited and strong demand is expected for this one-of-a-kind set. Order now! |
|
|
Complete 20th Century U.S. Silver Dollar Coin Collection $55.95 The silver dollar coin holds an esteemed place in U.S. minting, valued for beauty, history and rarity. Now The Bradford Exchange has put together the ultimate silver dollar commemorative coin collection - each and every silver dollar issued from 1900 to 1999. Imagine - some coins are over 100 years old! Each 20th Century Silver Dollar coin is sent to you in its own attractive protective holder beginning with Issue One, the 1976 Eisenhower Silver Dollar with FREE magnifying glass and continuing with Issue Two, the 1999 Susan B. Anthony Silver Dollar. Later, additional 1900-1999 dollar coins in their protective holders, each a separate issue, will follow.‡The collection includes: the entire set of the 90% silver Morgan dollars minted from 1900-1921; a complete set of Peace dollars, issued from 1922-1935; a full set of Eisenhower dollars, issued from 1971-1978, and all four coins in the Susan B. Anthony series. Plus, with your collection you'll also receive a FREE wood display case, a $70 value, to show off and protect your commemorative coin collection. But hurry - supplies are limited and strong demand is expected for this "dream" silver dollar collection. Order now! |
|
|
Silver Dollar KC1633 $89.85 Silver Dollar KC1633 Eyeglasses are available at BestBuyEyeglasses.com in the following colors: Blue, Brown, Silver. Silver Dollar KC1633 Children's. These frames accept prescription lenses. |
|
|
Silver Dollar G624 $131.1 Silver Dollar G624 Eyeglasses are available at BestBuyEyeglasses.com in the following colors: Black, Silver. Silver Dollar G624 Combinations. These frames accept prescription lenses. |
|
|
Silver Dollar TC855 $157.35 Silver Dollar TC855 Eyeglasses are available at BestBuyEyeglasses.com in the following colors: Brown, Red, Silver. Silver Dollar TC855 Metal. These frames accept prescription lenses. |
|
|
Silver Dollar cld9114 $209.85 Silver Dollar cld9114 Eyeglasses are available at BestBuyEyeglasses.com in the following colors: Black. Silver Dollar cld9114 Metal. These frames accept prescription lenses. |
AAYN Episode 36: 1921 Silver Peace Dollar, High Relief, Choice/Gem BU