While some have argued for the replacement of the U.S. $1 note with a coin, one man decided to take the U.S. government’s monetary policy into his own hands by attempting to single-handedly replace the dollar coin with his very own coin.

The 67-year-old Bernard von NotHaus, creator of the original Liberty Dollar, was convicted on Friday by a federal jury in North Carolina of minting his own $1 coins. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” said U.S. Attorney for the Western District of North Carolina Anne M. Tompkins the day the verdict was announced. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

Check Out: $1 Should be Eliminated According to the GAO

An investigation into NotHaus’ criminal activities began back in 2005, and revealed that NotHaus founded an organization called the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code (NORFED), also referred to as Liberty Services. Through NORFED, NotHaus manufactured Liberty coins that incorporated the dollar sign and other marks associated with real U.S. currency. According to the FBI, NORFED’s goal was the circulation of the Liberty Dollar throughout the country and Puerto Rico in order to compete with U.S. currency. It took the Statesville, N.C. jury less than two hours of deliberation to find NotHaus guilty of charges that included issuing, passing, selling and possessing coins resembling his former creation, according to an FBI statement.

As part of his sentence, NotHaus will face up to 15 years in prison and a fine of up to $250,000. NotHaus must also turn over 16,000 pounds of coins and precious metals, valued at $7 million, to the federal government. NotHaus is part of a consortium of thinkers and policymakers that believe the U.S. government’s monetary policy is inherently unconstitutional because it relies on a paper-based rather than reliant on gold or silver standards.  For a five minute glimpse into NotHaus’s views on the U.S.’s monetary policy—backed by Congressman Ron Paul (R-Tex)—check out the video below:

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  • Blain

    First time in history someone has been convicted for producing a “counterfeit” of far greater value than the currency he was supposed to be copying.

  • Charles Michel

    How can one Counterfeit….”His OWN Coin”???!!!!!.

    1250–1300; (adj.) Middle English countrefet false, forged < Anglo-French cuntrefet, Old French contrefait, past participle of conterfere to copy, imitate, equivalent to conter- counter- + fere to make, do ≪ Latin facere ( see fact); (v.) Middle English countrefeten, verbal derivative of countrefet

    Errrrrr….uhhhhh…not rocket science here…but apparently a *Science* nonetheless:-

    Counterfeit means to make a COPY of something ELSE……no make ones OWN COIN out of a precious or semi-precious metal that has inherent Stand-alone VALUE.

    This Country is horrifically in the Deep Crapper if people on a jury subscribed to this looney (The Canadienne currency) legal alchemy proposed.

    Next stop…Beautiful *Trains* headed for the Kamps of the Showers of Serenity.

    ALL ABOARD!!!!

    • Carolyn

      Thanks for the feedback, Charles. The difference between “mint” and “counterfeit” has been noted.

  • Anonymous

    The bad part is the government wants to keep the silver that they seized and the Liberty Dollar doesn’t even own it. This silver was used to back warehouse receipts that were sold to people like me who are now stuck with the receipt and reading how the government wants to keep the LIberty Dollar silver which it never even owned.

    The 7 million in silver they want to keep is owned by customers of the lIberty Dollar and when most of us bought it silver was only about 10 an ounce, now silver is over 30 an ounce. If the government keeps this silver it will be one of the greatest blunders since the seizure of Arlington Cemetary and a direct strike from the government against it’s own people.

  • He did NOT produce a $1 coin. He produced 1 ounce solid silver rounds and warehouse receipts for stored silver. They look nothing like any US coin or currency.