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A '''dollar''' traditionally has been a coin consisting of an ounce of silver.<ref>{{cite web|quote=The dollar began as the generally applied name of an ounce weight of silver coined by a Bohemian Count named Schlick, in the sixteenth century. The Count of Schlick lived in Joachim's Valley or Jaochimsthal. The Count's coins earned a great reputation for their uniformity and fineness, and they were widely called "Joachim's thalers," or, finally, "thaler." The name "dollar" eventually emerged from "thaler."|author=Rothbard, Murray|url=http://mises.org/money/2s5.asp|title=What Has Government Done to Our Money?}}</ref> There have been many dollars issued, for example, by the governments or central banks of Australia, Belize, Canada, Hong Kong, New Zealand, Singapore, Taiwan, and the United States.
A '''dollar''' traditionally has been a coin consisting of an ounce of silver.<ref>{{cite web|quote=The dollar began as the generally applied name of an ounce weight of silver coined by a Bohemian Count named Schlick, in the sixteenth century. The Count of Schlick lived in Joachim's Valley or Jaochimsthal. The Count's coins earned a great reputation for their uniformity and fineness, and they were widely called "Joachim's thalers," or, finally, "thaler." The name "dollar" eventually emerged from "thaler."|author=Rothbard, Murray|url=http://mises.org/money/2s5.asp|title=What Has Government Done to Our Money?}}</ref> There have been many dollars issued, for example, by the governments or central banks of Australia, Belize, Canada, Hong Kong, New Zealand, Singapore, Taiwan, and the United States.
{{See also|United States dollar}}


==Private dollars==
==Private dollars==
In 2007, Angel Cruz of the United Cities Corporation created "United States Private Dollars." He was indicted for bank fraud and conspiracy to defraud, and is still a fugitive.
In 2007, Angel Cruz of the United Cities Corporation created "United States Private Dollars." He was indicted for bank fraud and conspiracy to defraud, and is still a fugitive.


Circa 2009, a private group produced a Liberty Dollar whose $20 piece consisted of one ounce of .999 fine silver. This organization's leader, Bernard von NotHaus, was prosecuted and convicted by the U.S. government, the justification being that customers who received the coin in change were receiving "fake goods."<ref>{{cite web|url=http://www.fbi.gov/news/stories/2011/april/dollar_040511|title=Private Tender|author=FBI|date=5 April 2011}}</ref> Because there are many countries' dollars circulating throughout the world, unless a coin states that it is a "U.S. dollar" it would be reasonable for a consumer to conclude that it is not a U.S. dollar, but some other kind of dollar. This particular coin referred to itself as a "New Dollar" and/or "Liberty Dollar." There also was little resemblance between this $20 coin and an American $20 bill; and even if there were, many countries, such as Canada, circulate dollars that resemble U.S. currency without the U.S. complaining, despite the fact that unwary U.S. consumers and retailers sometimes receive those (slightly less valuable) coins without realizing it until it is too late. Information on the Liberty Dollar's metallic content was clearly stamped on it, which is more than can be said for U.S. coins.
Circa 2009, a private group produced a Liberty Dollar whose $20 piece consisted of one ounce of .999 fine silver. This organization's leader, Bernard von NotHaus, was prosecuted and convicted by the U.S. government, the justification being that customers who received the coin in change were receiving "fake goods."<ref>{{cite web|url=http://www.fbi.gov/news/stories/2011/april/dollar_040511|title=Private Tender|author=FBI|date=5 April 2011}}</ref>
 
Furthermore, the fact that the Liberty Dollar resembled certain U.S. coins does not necessarily mean there was fraudulent intent. It is possible for a producer to imitate something without attempting to defraud. For example, the generic version of Lucky Charms is designed to look a lot like the real thing, but it is unlikely that any customers are fooled when they see it at the grocery store; nor is it the intent of the producer to fool them. The product is merely intended to satisfy the consumer's desire for a cereal experience that is as close as possible to Lucky Charms, but cheaper. Likewise, the coin consumer may very well want a coin that looks like U.S. currency, but has a different metallic content. For all these reasons, it is questionable how the Liberty Dollar could be considered fraudulent.


==References==
==References==
{{reflist}}
{{reflist}}
==Links==
* {{wplink}}


[[Category:Currency]]
[[Category:Currency]]

Latest revision as of 09:25, 15 January 2013

A dollar traditionally has been a coin consisting of an ounce of silver.[1] There have been many dollars issued, for example, by the governments or central banks of Australia, Belize, Canada, Hong Kong, New Zealand, Singapore, Taiwan, and the United States.

See also: United States dollar

Private dollars

In 2007, Angel Cruz of the United Cities Corporation created "United States Private Dollars." He was indicted for bank fraud and conspiracy to defraud, and is still a fugitive.

Circa 2009, a private group produced a Liberty Dollar whose $20 piece consisted of one ounce of .999 fine silver. This organization's leader, Bernard von NotHaus, was prosecuted and convicted by the U.S. government, the justification being that customers who received the coin in change were receiving "fake goods."[2]

References

  1. ↑ Rothbard, Murray. "What Has Government Done to Our Money?". http://mises.org/money/2s5.asp. "The dollar began as the generally applied name of an ounce weight of silver coined by a Bohemian Count named Schlick, in the sixteenth century. The Count of Schlick lived in Joachim's Valley or Jaochimsthal. The Count's coins earned a great reputation for their uniformity and fineness, and they were widely called "Joachim's thalers," or, finally, "thaler." The name "dollar" eventually emerged from "thaler."" 
  2. ↑ FBI (5 April 2011). "Private Tender". http://www.fbi.gov/news/stories/2011/april/dollar_040511. 

Links

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