$10 for $5 of silver = peace of mind?

Here’s an amusing story from Buffalo concerning Liberty dollars and the supposed risky nautre of United States currency. The details aren’t particularly important because it’s just two dimwits allegedly badgering vendors into accepting alternative currency. What’s most amusing is the reason why Liberty dollars, which are “backed” by silver, are in use in Buffalo (and many other areas, apparently). Consider:

“About 20 of my regular customers use them. They pay me with silver, and they accept silver as change,” said Daniel Hyman, owner of the Red Apple convenience store on Route 78 in Strykersville. “With inflation and government deficits, I see more and more people who don’t trust paper anymore. Eventually, I hope the banks will accept Liberties for deposits.”

“We take it at par with dollars,” said Shawn Clawges, owner of Opener’s Grille, a restaurant on Seneca Street in East Aurora. “They’re a pretty coin, and they’re backed by silver. It’s a commodity that’s going up in value, unlike the U.S. dollar.”

If a private business wants to accept Liberty dollars as currency, good luck to them. I’d contend that it’s no less challenging to purchase silver and gold with “excess” dollars than trying to create a new currency if they’re convinced a crisis is coming, but I’m inclined to value liquidity over paranoia principle. Silly me. Regardless, it just confirms that stupid people exist in many forms of mental deficiency. That delights me.

Hat tip: Hit and Run