Souvenirs don’t make good investments
We are still waiting for particulars about potential Donald Trump Presidential inaugural medals. What we are not waiting for are privately produced souvenirs of the 45th President’s swearing in. They…
We are still waiting for particulars about potential Donald Trump Presidential inaugural medals.
What we are not waiting for are privately produced souvenirs of the 45th President’s swearing in.
They are being advertised all over.
There are so many in fact that the Professional Numismatists Guild has issued a cautionary statement:
“So-called ‘Trump coins’ are being offered in the marketplace, and they may be delightful souvenirs, but in many cases should not be mistaken for ‘rare coins,’” the PNG statement begins.
PNG President Dana Samuelson points out that the United States Mint has not issued any coins or medals depicting President Donald J. Trump.
“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 Samuelson.
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. These kinds of novelty items often have little or no secondary market value,” stated PNG Executive Director Robert Brueggeman.
PNG officials recommend that buyers and sellers contact members of their Accredited Precious Metals Dealers (APMD) 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, its code of ethics and a directory of accredited dealers can be found at www.APMDdealers.org, or call the Professional Numismatists Guild at (951) 587-8300.
I would like to thank PNG for its caution and for making this morning’s blog of mine a particularly easy one to post.
Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."
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