Trump Is Hawking Silver Coins at a 210% Markup
AP Photo/Jared Wickerham
Former President Donald Trump is promoting silver “Trump Coins,” but those looking to buy will have to pay a hefty premium well above what an ounce of silver costs.
On Tuesday, Trump retweeted a post by @realtrumpcoins1, whose profile states it is an “Official Partner of The Trump Organization.” The post contains a 48-second video showing the coin, which has Trump’s face on the obverse. On the reverse is the White House, Trump’s signature, and the motto “In God We Trust.” The coin is one troy ounce of silver.
The post also contains a link to a website where people can “preview the coin” and join a waitlist to buy them for a cool $100.
As of this writing, the spot price for an ounce of silver is $32.
It’s not uncommon for private entities to produce their own non-legal tender coins. However, the markup in excess of 210% is highly unusual. For example, typically, custom-made silver coins sell for less than $10 above the spot price of silver, but Trump is hawking the coins for more than $60 above a typical going rate. Also, the shipping cost is separate. The website features an “investment disclaimer,” which states, “The coins are intended as collectible items for individual enjoyment only, and not for investment purposes. The coins are not political and have nothing to do with any political campaign.”
The coins are the former president’s latest cash-raising push after he’s sold Trump Sneakers, Trump NFTs, and Trump Bibles in recent months. No word yet on whether classics such as Trump Vodka or Trump Steaks will re-enter the rotation.
