a specific unit of time; i.e., 1 hour = 1 Time Dollar. Under the most simplistic version of that model, the future value of the currency would depend on the willingness of people to swap their labor, regardless of the market value of the labor provided. However, systems such as Ithaca Hours have introduced more sophisticated models that allow for variations in market value of labor. Liberty Dollars also differed from other alternative currencies in that they carried a suggested US dollar face value. The only laws that pertain to private currencies are ordinary statutes against fraud. Coining is more technologically difficult than is printing, and inclusion of precious metal in coins has long been seen as a means of "embedding" value into them. The Liberty Dollar consisted of coins and printed notes. Paper and digital Liberty Dollars were legally defined as warehouse receipts and were backed by a physical commodity: a weight in precious metal. 18 USC 486, however, makes it a crime to make, utter, or pass any coin or bar of gold silver or any other metal if it is intended to be used as money, so there is a definitive injunction against the minting of coins for that purpose. Liberty Dollar base values, discounts, and commissions The Liberty Dollar "base value" was created by Bernard von NotHaus. , the base value of the Liberty Dollar was Liberty Dollars to one ounce of silver. At the time the Liberty Dollar operation was closed, one ounce Liberty Dollar gold pieces were denominated ,000 with a maximum charge of 10% over spot price with membership. The previous base values were silver ounce, silver ounce and gold ounce. Non-members paid full face value for all currency except for certain Special and Numismatic items. Members' discounts ranged from 0% to 50%+ (actually, for short periods during crossovers it was possible that even members could not buy Liberty Dollars at face value or less). Liberty Dollar associates and merchants used to exchange for Liberty Dollars at a discount, so they could "make money when [they] spend money." To further distinguish how the Liberty Dollar worked, von NotHaus transitioned to a commission structure in June 2007 where associates and merchants received a commission in the form of extra Liberty Dollars when they placed their orders. Regional currency officers received larger discounts; they were the regional distributors and official representatives of Liberty Services. The