The Professional Numismatists Guild (PNG) on Monday released an articulate statement cautioning that President-elect Barack Obama "Coins" are not rare investments.
In part, PNG President Gary Adkins said the following regarding the items,
"All of the items we’ve seen offered so far on television and online are merely political mementos that certainly may be enjoyable as a keepsake, but typically will have little or no re-sale value later in the mainstream numismatic market. Privately-produced items are not legal tender U.S. coins. In cases where a marketer has altered an actual U.S. coin after it left the Mint, such as putting a sticker with Obama’s picture on it, knowledgeable collectors usually consider that to be merely defacing the coin."
The United States Mint has now issued the following Obama “Commemorative Coins” advisory:
It has come to the attention of the United States Mint that several private commercial businesses are advertising so-called "Barack Obama Presidential $1 Coins," as well as commemorative half-dollar coins, American Eagle Silver Coins and multi-coin sets bearing images of the President-Elect. These advertisements feature genuine United States coins that the private commercial businesses have altered by affixing a colorized image to the coin. Additionally, some businesses have treated the coins by gold-plating them.
These items are not official United States Mint products. Furthermore, these products, businesses, and advertisements are not approved, endorsed, sponsored, or authorized by the United States Mint, the Department of the Treasury, or the United States Government.
The United States Mint receives frequent inquiries from the public concerning its position on the industry practice of superimposing colorized images—such as those of prominent public figures, celebrities, or cartoon characters—on genuine United States coins. The United States Mint does not encourage, endorse, or sponsor products that alter the fundamental images depicted on its coins. Congress itself mandates by statute the design themes and inscriptions that appear on United States coins. A superimposed image is entirely different from and obscures the coin’s original design.
Such items may have an emotional value, but their numismatic value is always likely to be right around $0, or less.
