What is the Trump Gold Coin?
If you’re a fan of collecting gold coins, there’s a wide range. And if you’re politically inclined and would like your coin collection or precious metals portfolio to represent that, Presidential gold coins can be solid additions.
From George Washington to George H. W. Bush, there’s no scarcity of gold coins commemorating former U.S. presidents. But if you’re, for some reason, looking for gold coins honoring more contemporary presidents, you’d be hard-pressed to find them.
There is quite a bit of buzz surrounding a gold coin made with former President Donald Trump’s effigy. We took notice and dug in. In this piece, we’ve shared them all.
To give you a more holistic understanding of the topic, we’ve discussed the following in detail:
- What are Presidential coins and their significance
- What’s the Trump coin
- Should you be buying a Donald Trump gold coin and more
Irrespective of whether you’re a fan of the former president, this one’s worth reading, particularly if you’re into gold or gold-plated collectible coins.
Table of Contents
Presidential Coins: A General Overview
The U.S. Mint makes a range of gold coins. The Presidential dollar coin collection comprises $1 coins with images of U.S. presidents embossed on them. The initiative isn’t as old as you may have assumed. The U.S. Mint started making these coins in 2007 under the Presidential $1 Coin Program.
The first presidents to get gold coins issued in their names were George Washington, John Adams, Thomas Jefferson, and James Madison. The coins have been minted in chronological order or starting from the first president to the next.
Each year, coins in honor of four deceased U.S. presidents are made. The coins are made with a time gap of three months between each president. For instance, January 1, 2007, to March 1, 2007, was earmarked to mint George Washington coins alone.
For four years, 2007 to 2011, these dollar coins were made in large numbers for increased circulation. That, however, resulted in an enormous stockpile of unused coins. The U.S. Mint, after that, decided to make these coins in limited quantity or as collectible coins. The program is stalled since there aren’t any more deceased U.S. presidents to honor with a coin issuance.
Who Gets Presidential Gold Coins?
Not all U.S. presidents get gold coins. The former presidents get a gold coin issued in their name posthumously. The minting process begins only on or after the second death anniversary of the president in question.
However, the U.S. Mint hasn’t made a gold coin with the effigy of Jimmy Carter, the 39th president. The former president is doing great and quite active with his Carter Center initiative to advance health and peace globally.
Read more: The Best 1 oz Gold Coin to Buy
The Design Language
All presidential gold coins have the particular president’s relief portrait on the front, with the reverse bearing an engraving of the Statue of Liberty. What is a relief portrait? It’s essentially the subject being raised a shade from its background to give a 3D effect.
Also, the obverse features the particular president’s duration in the White House and the year of coin issuance or minting. The coin’s edge bears the inscription, “In God We Trust”, alongside the mint mark and year of issuance. The coin’s reverse side bears the inscriptions “United States of America” and “$1” with the Statue of Liberty image.
What is the Trump Gold Coin?
The Trump Gold coin is yet another gold coin bearing the image of an American president. But it’s not state-issued or made by the U.S. Mint. As mentioned earlier, the last coin to be made by the U.S. Mint is the George H. W. Bush coin, and there are no official plans to mint coins for any other U.S. president, let alone Donald Trump.
It’s, however, not uncommon for private companies or individuals to produce gold coins bearing the visual of their heroes. The Trump gold coin is one such custom creation, most likely. And that also explains why gold coins with images of other former presidents such as Bill Clinton and Barack Obama are doing the rounds too.
Since the Trump gold coin isn’t an official kind, it has no standard or one design language. People just let their artistic juices flow onto these coins as there are no bounds. As a result, you can find Trump gold coins portraying Donald Trump in different angles and shots. Some coins, for instance, showcase the former president staring into the distance. He can be seen grinning, giving a thumbs-up, etc.
There’s, however, a particular coin that’s gaining increased traction. It has the former president’s left profile engraved in gold. The coin’s base is shining silver. The coin also has Trump’s second presidential campaign slogan, “Keep America Great,” inscribed above the former president’s image. The coin got so popular around the 2020 elections that it became one of the top sellers for Clickbank.
Among Trump supporters or fans, Trump coins are pretty popular. They aren’t selling in the thousands of dollars as buying these coins isn’t that challenging. But the former president’s followers believe the coins shall assume increased prestige and value with time. And others view Trump coins as some form of cryptocurrency. However, the current reality is a stark contrast, with most of these coins selling for a few dollars above their melt values.
The Red Flags Surrounding Trump Coin Prices
With Trump coins getting popular among a specific section of buyers, some people like to make a quick buck through disingenuous ways. In other words, there’s no shortage of fake coins selling for a few dollars. Although these coins aren’t purveyed as gold coins, they are usually worth not even the few dollars the seller charges. There are, in fact, some that are valued at $0 but charge for the shipping.
Talking about the manufacturers of these Trump coins, there’s not much concrete information about who makes these coins. These coins can be seen floating on the Internet, selling on e-commerce sites without precise information about the minting company.
Some people, who bought the free coins from the shopping wing of the right-wing site Raw Conservative Opinions, found it not to contain any gold or silver at all. The coins reportedly had heft to them. But upon further inspection or after a non-scientific magnet test, the coins were detected to be made of iron instead.
The Trump Camp Is Ostensibly Not Happy
Donald Trump or the Trump Organization doesn’t acknowledge these coins. Most importantly, they aren’t happy with how these coins are being marketed to make a quick buck leveraging the fealty for former President Trump.
In a Twitter post (now deleted), Eric Trump, Donald Trump’s son, threatened to prosecute individuals who claim that Mr. Trump will come up with a bitcoin-like coin of his own in the future.
Should You Buy a Trump Gold Coin?
If it’s real gold or what it’s claimed to be, there’s no reason you shouldn’t get a coin. Make sure the coin is priced right. Do not pay an unreasonable premium, irrespective of your love for the president.
The 2020 Freedom Coin is one that we can easily recommend. The one troy ounce gold bullion coin’s melt value is lower than the spot price of gold since dealer premium has to be accounted for. But the seller margin is pretty justified.
Read more: What is a Proof Coin
The U.S. Mint has made its share of Presidential gold coins in the past. It doesn’t make any more coins to commemorate U.S. presidents at the moment, as all the eligible leaders have been duly honored. In other words, there is no official Donald Trump coin.
But unofficial coins do exist (as mentioned earlier), and some could be genuinely worth their mettle (pun intended). If you’re on the lookout for a gold Trump coin, learn more about the seller, the price, and the other pertinent details about the deal before trading it for paper money.
If the gold coin deal is too good to be true, then it probably is. There’s no free lunch, after all!
Can anybody make a gold coin?
To make a custom gold coin, you need not be a mint, work at one, or be a professional goldsmith. If you have gold to spare and the necessary tools and skills, you can make a gold coin with the engravings of your choice.
However, to not get into any legal soup, ensure the coin is not a replica of a Presidential gold coin or any coin minted by an authorized mint. For example, you cannot make a Donald Trump gold coin the way the U.S. Mint will create one if it comes to that point sometime.
Is Donald Trump making his own gold coin?
Though there are several rumors (fueled mainly by Trump sympathizers) about Trump coming up with a gold coin of his own, there’s no official information from the Trump business administration or Donald Trump himself.
Are there gold coins commemorating first spouses?
Yes, America has honored spouses of all presidents commemorated by the $1 Presidential coin. $10 half-ounce gold coins have been issued in their honor. For instance, here is the $10 gold coin issued in tribute to Dolley Madison, the spouse of James Madison.
The U.S. Mint issues these first spouse coins adhering to the Presidential coins’ schedule. Also, these first spouse coins are issued only after the death of the respective subjects, except for in the case of Nancy Reagan, whose commemorative coin was released a few months before her end.
Do Presidential gold coins sell for a premium?
Based on the condition and nature of the coin, Presidential gold coins could sell marginally or significantly more than their melt values. If the coin is uncirculated, it’s likely to command a higher price due to the immaculate condition it’s expected to be in.
Not to mention, demand decides the market. If there’s high demand and the number of coins available for purchase is considerably low, expect the prices to indicate that market sentiment exactly.
And then particular design idiosyncrasies may merit a greater value. For example, a batch of George Washington coins was minted without the customary edge inscriptions. They were, as a result, highly sought after during a specific period and traded for a higher price than regular President Washington coins.