Despite not being associated with the US Mint, the Liberty Dollar currency has seen modest circulation. Though labeled with a monetary value, the actual worth of the coins is based on the price of the metal – gold, silver, or copper – of which they are physically made.

Though the FBI and Secret Service left cards, neither agency would confirm the raid that federal agents staged on an Indiana Liberty Dollar office. Agents swiped tens of thousands of coins which had been stamped with the image of presidential candidate Ron Paul.

The Liberty Dollar is seen as both an investment, as the value of some metals, most notably gold, has increased against the dollar, and as a protest against the baseless currency championed by the Federal Reserve. Ron Paul is not affiliated with the coinage, but the Texas congressman has long supported a return to a sound currency, and a Ron Paul questioning of Fed chairman Ben Bernanke on the issue has been circulating on the Internet.

As people are free to trade anything they want, from gold to Garbage Pail Kids trading cards, the legality of the raid is highly questionable, with the only justifiable argument seeming to be that the Liberty Dollar “looks similar” to legal tender. People mistaking Ron Paul for Sacagawea notwithstanding, the raid of the coins and bearer certificates seems to amount to a theft from the purchasers of the currency. The founder of the currency and a Ron Paul supporter, Bernard von NotHaus had already filed suit after a consumer alert was issued against the currency last year, and von NotHaus is now urging the owners of the seized property to sue the government as well.

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