PNG warns of Trump fakes
So-called “Trump coins” are being offered for sale, but in many cases should not be mistaken for rare coins, cautions the Professional Numismatists Guild. In some cases, the items being offered are not even actually coins despite how they’re advertised, according to the PNG.
“Buyers today may be bitterly disappointed tomorrow if they mistakenly thought these kinds of souvenir items would be great investments,” stated PNG Executive Director Robert Brueggeman.
“The so-called ‘Trump coins’ now in the marketplace are either privately issued tokens or medals and not legal tender coins; or are genuine U.S. Mint-produced coins that have been deliberately altered by private parties after they left the Mint; or are coins produced by foreign countries but usually intended only for collectors and not for circulation in those countries,” explained Dana Samuelson, PNG president.
Some of the “Trump coins” being sold to the public are touted as gold- or silver-plated, but PNG cautions that can be confusing or misleading to potential buyers.
“The plating may be simply a microscopically thin layer of silver or gold that’s worth only a dollar or two. These should not be considered as investments in precious metals,” said Brueggeman.
PNG officials recommend that buyers and sellers contact members of their Accredited Precious Metals Dealers program. PNG-APMD members must adhere to a strict code of ethics in the buying and selling of coins and precious metals.
Information about APMD and a directory of accredited dealers can be found at www.APMDdealers.org.
This article was originally printed in Numismatic News Express. >> Subscribe today
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