Former President Donald Trump has announced the launch of his first-ever silver medallion, a move that has sparked interest and raised eyebrows. Trump, who is running for the Republican nomination for President in 2024, described the coins as “true symbols of America’s greatness” in an X post on Saturday. He touted the coins as a representation of his “America First” policy.
The official Trump Coins website describes the medallion as a one-ounce, 99.99% silver coin. The obverse features Trump’s profile, while the reverse displays the White House with his signature. The website, however, makes no mention of the coin being manufactured or distributed by Trump or any affiliated organizations.
Trump’s silver medallion has been priced at a significant premium compared to the current spot price of silver. At the time of the announcement, spot silver was priced at $30.65 per ounce, which is less than one-third of the price Trump is marketing his coins at. This price discrepancy has led some to question the value proposition of the coin.
This latest venture comes as Trump continues to explore various avenues to raise funds for his 2024 campaign. In recent months, he has launched a line of limited-edition Bitcoin-themed sneakers, as well as the fourth edition of his non-fungible tokens (NFTs). He also recently entered the cryptocurrency market with the launch of World Liberty Financial (WLFI), a decentralized finance (DeFi) platform.
While Trump has been actively seeking to bolster his finances, political analysts have suggested that the odds are against him in the 2024 election. According to the decentralized prediction market Polymarket, Vice President Kamala Harris is the bettors’ favorite to win the elections with a 52% probability.
Trump’s silver medallion has already become a hot topic, raising questions about its value and the potential return on investment. It remains to be seen how this latest venture will fare in the market and whether it will contribute significantly to Trump’s fundraising efforts.
