THE LIBERIA DOE COIN

It is common knowledge that only a constitutionally elected government has mandate to print new currencies or mint new coins for use by the people of a country which gave such Government the authority at the polls during General Elections. Thus, was the ‘LIBERTY' Five Liberian Dollars Bank Note, printed by the Interim Government of National Unity (IGNU) as well as the Five Liberian Dollars Coin, otherwise known as the "Doe Coin", minted by the Peoples Redemption Council (PRC) Government actually legal tenders in Liberia at the times of their respective printing and minting?

Let us now take a close look at Master Sergeant Samuel Kanyon Doe, who took the helm of power on April 12, 1990 by overthrowing Dr. William Richard Tolbert, Jr., through a bloody coup d'état. Head of State Samuel K. Doe, two years after his take over as junta leader, minted the "Doe Coin" in 1982 and put it into circulation against the United States Dollars which was unopposed. What significant impact then, did the "Doe Coin" have on the Liberian economy?

In my view, the "Doe Coin" played a major role in shifting the Liberian economy in contrast to the "Liberty" Bank note of Dr. Sawyer, even though it did not receive a constitutional mandate. For during the circulation of the "Doe Coin" on the Liberian Market, Liberia saw massive speedy growth in term of infrastructure, as well as economic and social development. There was the construction of the Samuel K. Doe Sports Complex previously initiated by President Tolbert, the Central Bank of Liberia, the Ministry of National Defense, etc. What then about Dr. Amos C. Sawyer's "Liberty" Bank note? What impact did it make?

The bottom line is that neither did Samuel Doe have the right to mint coin, nor Dr. Sawyer the right to print new banknote in the absence of constitutional mandate.

To read the complete article, see:
Were The "Doe Coin" and ‘Liberty' Bank Note Legal Tenders in Liberia? (https://www.liberianobserver.com/opinion/were-the-doe-coin-and-liberty-bank-note-legal-tenders-in-liberia/)

To read the earlier E-Sylum article, see:
NUMISMATICS IN LIBERIA (https://www.coinbooks.org/v22/esylum_v22n45a22.html)

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