Former President Donald Trump announced the launch of the first edition of his silver medallion, which he claimed to have designed himself and was minted in the U.S.
Former President Donald Trump announced the launch of the first edition of his silver medallion, which he claimed to have designed himself and was minted in the U.S.
What Happened: Trump revealed the details about the coins in an X post on Saturday, describing them as “true symbols of America’s greatness.” The Republican presidential hopeful tied the official coins with his “America First” policy.
The official website of the Trump Coins described them as a one-ounce 99.99% silver, featuring the former President’s profile on the obverse and the White House with Trump’s signature on the reverse.
Hello everyone! I have something incredible to share today, as we are introducing the launch of our Official Trump Coins! The ONLY OFFICIAL coin designed by me—and proudly minted here in the U.S.A. The President Donald J. Trump First Edition Silver Medallion will be available… pic.twitter.com/9SP1PaLOTh
Interestingly, spot silver was priced at $30.65 per ounce as of this writing, less than one-third of what Trump marketed his official coins at.
The website added a disclaimer that the coins haven’t been manufactured or distributed by Trump or any of the organizations affiliated with him.
See Also: Trump’s New Crypto Venture’s Legal Counsel Accused Of Attempting To Seize Control Of Rival Firm
Why It Matters: In an effort to bolster his finances, Trump has turned to selling a variety of merchandise to his supporters.
Nearly a month ago, he launched the fourth edition of his non-fungible tokens (NFTs), priced at $99 each. Before that, the Republican launched a line of limited-edition Bitcoin BTC/USD-themed sneakers.
The latest announcement comes a week after Trump’s entry into the cryptocurrency market with the launch of World Liberty Financial (WLFI), a decentralized finance (DeFi) platform centered around a cryptocurrency token.
But even as Trump ramped up efforts to raise funds for his election campaign, the odds were stacked against him. According to the decentralized prediction market Polymarket, Kamala Harris was the bettors’ favorite to win the elections with a 52% probability.
Image via Shutterstock
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