frequently asked questions

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GENERAL QUESTIONS

ChipBucks are Digital and Paper Warehouse Receipts for specific amounts of .999 Fine Silver bullion stored in our own or a third party's storage facility. They are negotiable because they are redeemable by the Bearer and can be transferred to any other Member. A "Chip" is equal to 1/100th of an ounce; a "Buck" is equal to one troy ounce. 100 Chips are equal to 1 Buck.

Yes. A recent Supreme Court Decision referenced the fact that digital currencies are a form of money that can be used to make purchases or exchanges. Under the law, it is perfectly legal to use digital ChipBucks in this fashion. Paper Warehouse Receipts are also lawful negotiable instruments with a long hisotry in common law and the laws of most countries.

No. Paper ChipBucks are legal Bearer Warehouse Receipts that are evidence of title to a specific amount of .999 Fine Silver stored on your behalf, and may be freely traded with anyone. This website is a system for the exchange of Digital Warehouse Receipts, but neither form constitute "Legal Tender." Both are intended as mediums of barter, and either is redeemable in .999 fine Silver Bullion.

18 USC 486 make it a crime to use "coins or bars of gold, silver or any other metal, regardless of shape or design," as "current money," but warehouse receipts are perfectly lawful. This was made clear in the case of the Liberty Dollar, when all of the warehouse receipts that had been issued were declared lawful by the court and returned to their rightful owners.

We are using paper that is almost impossible to buy on the open market, and each paper warehouse receipt is printed in high definition with watermarks that prevent copying. Most people would not be able to duplicate them convincingly, and it is doubtful that a true counterfeiter would find it profitable. In addition, we print our warehouse receipts only "On Demand," which means there are a limited number of them that will ever be in circulation.

No. We are sellers and warehousemen of Silver Bullion. Our Warehouse Receipts meet the requirements under US law as Negotiable Bearer instruments and can lawfully be used in barter, but we do not promote buying our silver in the hope of a profitable return in the future.

We sell silver at "spot" plus a $2.00 premium to cover our costs. This is comparable to many other precious metal dealers' pricing, and we use only the most trustworthy mintings to ensure we offer true .999 fine silver bullion with accurate weights.

You can barter with anyone who is willing to accept Warehouse Receipts in exchange for goods or services, but they are NOT Legal Tender. This means that no one is required to accept them. We also offer our own ChipBucks Marketplace, where our Members can sell their own goods and services for ChipBucks on this website.

Just log into your account and go to Withdraw/Redeem. This page lets you choose either Paper Warehouse Receipts or physical silver bullion, and we will send out your choice within one business day of receiving your order.

We buy only new silver bullion from reputable dealers. However, you can bail in your own silver at any time for a low 6% bailment fee. Contact us to discuss this option.

Yes. They are printed in high definition on waterproof, nearly indestructible paper, and will last for many years in regular use.

Nothing, but this is our specialty. We know what we're doing and will always protect the interests of our Members over any other concern.

Test us. One of the benefits of using ChipBucks to sell online is that you can redeem your silver the same day you accept it through our system, or accept paper ChipBucks. We will always ship your silver within one business day of your redemption order.

We keep the actual locations of the vaults extremely secret, but we are also insured against loss, including theft.

In the US, a law cannot be made retroactive. This means that, while they could possibly stop us from issuing new paper currency, the ones already issued would still be lawful, and digital alternative currencies are already defined as lawful, so we would continue to offer digital ChipBucks.

Or you can visit the and send us your questions or coments in details.

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