The Professional Numismatists Guild (PNG) is warning collectors to be wary of the so-called “Trump coins” making the rounds recently.
What “may be delightful souvenirs” should not be mistaken for “rare coins,” cautions PNG. In some cases, the items offered wouldn’t even be considered coins despite how they’re being advertised.
“Buyers today may be bitterly disappointed tomorrow if they mistakenly thought these kinds of souvenir items would be great investments,” said Robert Brueggeman, executive director of PNG, which is a non-profit organization composed of numismatic experts in seven countries, including Canada.
PNG President Dana Samuelson noted the U.S. Mint has not issued any coins or medals depicting U.S. President Donald 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,” said Samuelson.
‘GOLD- AND SILVER-PLATED COINS’
Some of the Trump coins being sold to the public are touted as gold or silver plated; however, PNG warns this claim 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,” added Brueggeman.
PNG officials recommend 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.
For more information, visit APMDdealers.org.