Norfed-Liberty Dollars

Norfeds are contraband, 'counterfeits' to the Secret Service. At this point, the risk is low - lower than selling cannabis, for example - but you wouldn't want a hoard of these to unload.
Dave Gillie sold (many) dozens of "Texas Error" Norfeds. They're not rare and that's a gimmick, too. I'm sad if anyone here fell for it

For the following, I only calc'd (from a spreadsheet) premium over POS. I didn't calc the Texas Coin premium nor the purported "Error" premium (in part, because almost all Texas Norfeds found were also "Texas Error" Norfeds.)

In mid 2007, the Texas 2006/7 premium was ~75%.
In early December 2007, the Texas 2006/7 'Error' premium was ~200%.
In early January 2008, the Texas 2006/7 'Error' premium was ~500 - 750%.
In March-April 2008, the Texas 2006/7 'Error' premium was ~400%.
In August 2008, the Texas 2006/7 'Error' premium was ~300%.
In December 2008, the Texas 2006/7 'Error' premium was ~400%.
In May-July 2009, the Texas 2006/7 'Error' premium was ~250%.
In November-December 2009, the Texas 2006/7 'Error' premium was ~450%.
In June-July 2009, the Texas 2006/7 'Error' premium was ~300%.
In October 2010, the Texas 2006/7 'Error' premium was ~100%.
In January-March 2011, the Texas 2006/7 'Error' premium was ~150%.
In April 2011, the Texas 2006/7 'Error' premium was ~100%.
In January 2012, the Texas 2006/7 'Error' premium was ~150%.
In March 2012, the Texas 2006/7 'Error' premium was ~125%.
In July-October 2012, the Texas 2006/7 'Error' premium was ~250%.

I cannot find any recent feeBay auctions; I'm guessing the "Texas Error" is currently worth ~$60.- 80. on CL, best sale. (Texans and Puerto Ricans will pay more than it's worth for "theirs.")

 

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I am an acquaintance with the ex-head of the RCO (Regional Curency Office) for a state I will not mention, that was one of the 25 states who participated in the SMI (State Monetary Initiative) program. While I do not know the actual mintage, the Texas Liberty Dollar was very low production. :hail: Plus I am a Texan, so this one has sentimental value to me.

 

Cali-for-ni-a and Washington state resresenting…

 

Not just for the "Texas Error" but any Norfed/Liberty Dollar.
eBay has become a ghost town in terms of Norfed/Liberty Dollars.

 

What happened was, the Secret Service said the Norfed Liberty dollars are counterfeits and are illegal and advised eBay to remove and not allow anymore listings. Some of the lstings started being canceled way back in November.

 

How about a Tea Party Dollar etc.? They used to sell for only a few dollars, now look. Is it just the Norfed Dollar everybody is poo pooing because of ebay's disrespect? I'm just sayin'.

http://www.ebay.com/sch/i.html?_nkw...at=39482&_odkw=norfed&_osacat=39482&_from=R40

 

I am wondering about the other dollars created by Bernard von Nothaus. Is it only the Norfed Dollars that some people are poo pooing or staying away from or are they staying away from all of them?

 

Oh, OK. Sorry about that. My Duh. Yes, that's a very good question. Probably the Norfed Dollars are the "first" of many that will be banned or considered counterfeit. I'm thinking that because of the Norfed Dollars popularity and the fact that it's been out there exposed, that the spotlight has been on it for some time and it's drawn alot of attention. Maybe that's why they keyed in on it first. Not sure just guessing. I'm wondering now if the next step is to forbid private ownership. Who knows?

 

Fair enough, I wish somebody knew exactly what is going on with these dollars or at least which ones are alright to sell. The secret service are being idiots. It doesn't take a nuclear scientist to get online and send all the coin forums and coin clubs in the US and elsewhere an email stating that it's illegal to own these or whatever information we need to know. All I know to date is that they're not to be sold on ebay.

 

That would require a "policy" and that would back them into a corner. They (the Government...aka "We The People") prefer to stay flexible and make up policy to meet political situations as they arise.

 

I wonder if this will be next.

http://www.ebay.com/itm/2013-Lakota...999-Silver-Proof-Round-SKU27548-/140908235096

 

I would think that all silver rounds that say “AOCS Approved”or “AOCS Approved Currency” will be next. These are minted with a denomination on them, and could be considered a coin meant to replace US currency just like the Liberty Dollars. The reverse designs on some are very similar to the NORFED’s reverse, just no torch. Look how "Fifty" is written on the Lakota...

 

That sounds like something WalMart does as well. Is our Gov becoming a corporation, nah maybe they just been comparing notes. Actually I hate disrespecting our Gov but this whole situation with the Norfeds sucks like an old Hoover vacuum. :yes:

 

There are so many NORFED / Liberty Dollar threads I got them mixed up. After reading through this one from page 1, have to say there are definitely more varieties than I was aware of.

 

Didn't all that PAPER SCRIP BvNH created went to ZERO? $21 million dollars worth! (What part was circulated, 'paid for' - does anyone know?)
At least the Norfed Ag coins will always have scrap value. What happened to the PAPER currency mkt, traders?

 

I would think the paper script went to zero. Didn't they confiscate all the siver that backed them up? Wouldn't that leave them with no value? They also had a provision stated within, that they expired unless renewed or surrendered in twenty years from date of issue. However, they could be bought back with Federal Reseve Notes if silver wasn't available. That's why I questioned their value even with the silver confiscation. There was no time affixed for maturity, so how many people may have elected to present them for payment, is unknown. My guess is many people did just that, when the government began it's investigation. To my knowledge, the certificates were not part of the government ruling. Does anyone know for sure?

 

Still for sale. The market hasn't collapsed entirely ... yet lol!
http://www.ebay.com/itm/2003-50-American-LIBERTY-Dollars-Silver-Certificate-Proof-Only-/321060207998

A few examples have sold "recently" but not sure what avg sales volume decline in Norfed scrip has been. I also think the question is less 'what someone got' and more 'how much scrip remains outstanding'.

One $1. sold for $36. in December: http://www.ebay.com/itm/2001-LIBERT...-Warehouse-Receipt-Uncirculated-/321032686662
One $10. sold for $86. in early November: http://www.ebay.com/itm/2000-LIBERT...-Warehouse-Receipt-Uncirculated-/221134094582

 

I recently got a hold of 3 Liberty Dollars and one fractional. The $1 1/20th oz Norfed Liberty dollar. I didn't pay a huge premium either. Despite what anyone says, to me they have collector value on top of the silver value. I'll post some pics when I get around to it.

 

There's really only one person on this forum who will argue with you and everyone knows who that is. Personally I like the design and they look great to me and they're still highly collectible. Only difference from a year ago is much of the trading has gone underground. :thumb: