The coins were announced Saturday.
Former President Donald Trump has added a new item to his collection of products for fans: silver coins. Each coin costs $100, which is more than triple the current market price of silver. The coins are part of a series of merchandise drops by Trump that have included sneakers priced at $399, NFT trading cards and Bibles for $60. These drops come amid Trump's legal troubles and cash crunches for his campaign.
The Trump Coins website describes the $100 coin as being made of one ounce of “99.9% fine silver,” which is significantly higher than the market price of silver at $31.50 per ounce. However, if the coin does become a true collectible, its price could potentially increase in the future.
Trump announced the coin in a Truth Social post on Saturday, and it features his profile on one side and the White House and his signature on the other.
The page for the collectible coin states that the product is “not political” and has “nothing to do with any political campaign,” adding that the coin is not being sold by Trump, The Trump Organization or any of its affiliates.
The coin will be released by Trump about a month after his fourth series of non-fungible token trading cards, which were priced at $99. This marks one of the former president's latest attempts to court traders of cryptocurrency.
In February, Trump also launched a line of high-top sneakers that started at $99 and went up to $399 per pair.
As part of a partnership with Lee Greenwood, the singer and songwriter behind the hit song “God Bless the USA,” the former president endorsed a $60 Bible in March.
The Trump campaign did not immediately respond to Forbes’ request for comment.
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How Much Has Trump Made Off His Bibles, Sneakers And Nfts?
According to recent financial disclosures cited by the Los Angeles Times, the Bible endorsed by Trump generated $300,000 in sales. It is unclear how much money the entire line of Trump sneakers brought in, although The Washington Post reports that the $399 shoes were limited to 1,000 pairs and eventually sold out, indicating that at least $399,000 was made from the sneaker line. The former president's involvement in NFTs yielded the highest gains for him, with licensing fees from NFTs netting him $7.2 million, according to CBS News.
Forbes Valuation
We estimate that Trump's net worth is $3.7 billion, which saw a slight decrease this week as a result of Trump Media stock repeatedly hitting record lows. However, a large portion of his fortune is tied up in his DJT stock, the media company behind his social network, Truth Social, which many believe is to be grossly overvalued.
Key Background
This merchandise has been released as Trump faces multiple criminal cases against him, which have resulted in hundreds of millions of dollars in unpaid legal fees. In February, a fraud trial against Trump and the Trump Organization concluded with the former president being ordered to pay more than $440 million. Axios reports that Trump's legal expenses for the firms representing him across multiple trials reached nearly $6 million in February and then decreased slightly to more than $3.5 million in March, April and May. According to Politico, Trump's cash crunch also extends to his campaign financing, as Vice President Kamala Harris's campaign outspent Trump's campaign by a large margin in August. Despite this, Trump's campaign managed to raise enough to maintain an edge over Trump, with the Harris campaign reporting raising $190 million last month and the Trump campaign reporting raising $45 million in the same period.
Further Reading
Trump Launches $399 Sneaker Line In Ex-President's Latest Merchandise Sale (Forbes)
Trump Endorses ‘God Bless The USA’ Bible—After Hawking Sneakers And NFTs (Forbes)
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