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https://www.theguardian.com/us-news/2024/sep/22/trump-commemorative-coins
Pathetic
Money laundering. That’s what this is.
Foreign investor buy dozens of these coins. People that probably shouldn’t be “donating” to American politicians cuz they want something in return.
It’s not money laundering to sell dumb shit to idiots, like coins to magas, or bathwater to thirsty teenagers, or dogecoin to me
I have no clue if there’s indeed any proof for such a claim, but the theory that I read elsewhere is that it’s a way to obfuscate money flows.
If a foreign nation (Russia, China, North Korea, whoever) would like to engage in the election, they can’t just donate to the campaign officially. But instead, they could buy a couple thousands of these coins in smaller transactions.
TBH I’m rather with you. I think the majority of these coins is just bought by some MAGAs. For foreign nations there’d be probably more efficient ways to transfer money like shares etc.
And the republicans will just say he’s being enterprising.
Why does he think I would buy a $90 coin? I mean, who in their right mind needs a $70 coin? I’m definitely not buying an $8 coin.
Trump designs are a dime-a-dozen in silver rounds. I’ve come across at least two just from buying random amounts of them in bulk from billion dealers.
They are sold to suckers for way too much money and then are sold back to bullion dealers for a dollar fifty under their melt value so that the sucker in question can make the interest payment on their Ford F150. They eventually meet a gnarly end in someone’s furnace after a few years and are cast into some actually desirable silver jewellery or silver bars.
There is a reasonably large silver community who prefers physical coin or rounds rather than certificates, shares or other more virtual/abstract forms of wealth.
There is a visceral and instinctive feeling when the value is purely in your hands and you can feel it.
Still, silver collectors/traders don’t give a shit about the design. Commemorative coins are fine if they are roughly the melt value (paying a few % over melt value is common MSRP) but anything beyond that is fully bullshit.
Official silver coins (American Eagle) have government guarantees on the purity of silver, size of the coin, and other attributes. So those are far easier in practice. But silver rounds or bullion are still common.