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.
In order collect Real Barrack Obama Commemorative Coins, Please contact Pobjoy Mint for the issue of coins of Liberia and Sierra Leone. Both African Nations do issue coins just like Barrack Obama Commemorative Coins, with are minted in Platinum, Gold, Silver, and Copper-Nickel Alloy. So next time if you want to buy coins like Barrack Obama Commemorative, just contact Pobjoy Mint in Surrey England for Commeorative Coins issued by nations like Liberia and Sierra Leone!
I have to laugh – “…collect Real Barrack Obama Commemorative Coins,” regardless, all the released coins are “REAL” they are just not official.
The only coin that was requested by the DNC* during the elections was http://www.presidentobamagoldcoins.com.
No coins are official, the U.S. mint has not released ANY coin depicting Barack Obama.
*source – http://www.birminghampost.net/birmingham-business/birmingham-business-news/business-entrepreneurship/2008/09/16/birmingham-firm-strikes-barack-obama-presidential-coin-65233-21832869/
I got a set of these for Christmas.
Are you telling me that my retired father-in-law was tricked into buying something that was virtually worthless?
It is the thought that counts at Christmas. I just can’t stand the thought that these clowns are making any money by scamming the public.
We, my family already ordered some gold coins at http://www.buyobamagold.com 2 months ago, we paid by check and then 1 month later from the day we ordered they said 8 weeks later they will send these coins for us because our payment was check, normally is credit will be convenience for them but we didn’t know about that . Because we found these website on the newspaper of The Oregonian. 4 days ago my father called them and asked about these gold coins they said the day after they would send for us and days by days to today 1… Read more »
I am so glad I did research on this issue. My granddaughter thought she had a “Barack Obama” coin and she was so heart broken when she discovered she did not, but that what she had was a very shiney penny w/Abe Lincoln on it. I had to show her both items so she could see that her mom & I weren’t lying to her. She is only 7 so I told her I would try to get her the Barack coin. I already knew it was not ‘useable’ but thought it might be of some value. Now that I… Read more »