Obama Inaugural Coins: When Barack Obama was inaugurated as the 44th President of the United States, many people wanted to remember this special occasion. Just like sporting events or the Olympics, people love to keep souvenirs from historic events. One popular way to remember Obama’s inauguration was through commemorative coins. But are these coins a good investment? In this article, we will explore the details of these coins, their value, and whether they are worth buying.
The Commemorative Coin Market
Presidential inaugurations create a buzz of excitement. Many companies jump on this opportunity to sell souvenirs, including commemorative coins. For the inauguration of Barack Obama, you could find all sorts of memorabilia, from T-shirts to key chains, and of course, commemorative coins.
What Are Commemorative Coins?
Commemorative coins are special coins made to celebrate a significant event or person. For Obama’s inauguration, many companies created colorful coins featuring the President’s image. These coins often come with a higher price tag than regular coins.
Who Makes These Coins?
The Franklin Mint and the New England Mint are two well-known companies that produced Obama inaugural coins. They advertised their coins in newspapers and on television. The coins usually sell for about $9.95, not including shipping and handling.
How Are the Coins Made?
These commemorative coins are made by taking a genuine uncirculated U.S. coin, like a presidential dollar or a 50-cent piece. Then, the companies cover the coin with a thin layer of 24-karat gold and place President Obama’s image on one side. The Franklin Mint’s advertising describes the coins as “an incredible work,” and they claim that the coins have been very popular among collectors.
A Word of Caution
Even though these coins are marketed as commemorative, buyers should be careful. Neither the Franklin Mint nor the New England Mint is connected to the federal government, and they clearly state this in their ads. However, not all companies make this clear.
The Government’s Warning
The U.S. Treasury Department has received many questions about these coins. It has made it clear that the U.S. Mint does not issue inaugural coins. In a consumer alert, the government reminded potential buyers that these coins are not official U.S. Mint products. They are also not approved, endorsed, or authorized by the U.S. Mint or the government.
Are These Coins Legal?
You might wonder if it is legal for companies to create coins with images of the president. The answer is yes, as long as they do not use the coins for commercial advertising. Greg Hernandez, the acting public affairs director for the Mint, explained that it is legal to paint or print on coins as long as they follow the law.
Investment Value of Inaugural Coins
Now, let’s get to the main question: are these inaugural coins a good investment?
Expert Opinions
Gary Adkins, the president of the Professional Numismatists Guild, which represents rare coin dealers, stated, “No, they are not investment coins.” He believes the Obama coins are simply memento pieces and should not be seen as valuable investments.
Scott Travers, a New York City coin dealer and author of “The Coin Collectors Survival Manual,” echoed this sentiment. He said these coins are “overpriced trinkets” and are only worth the face value of the coins used to make them. According to him, these coins are unlikely to gain value over time.
What About the Certificate of Authenticity?
Many companies advertise that their coins come with a certificate of authenticity. This certificate may sound impressive, but it doesn’t mean much in terms of value. For example, the certificate from the Franklin Mint only certifies that the base coin used is a genuine U.S. coin. It doesn’t guarantee that the coin will be worth more in the future.
The Bottom Line
Obama Inaugural Coins: Barack Obama’s inauguration is a historic moment in American history. Many people may want to buy commemorative coins to remember this milestone. However, it’s important to remember that these coins are unofficial and lack intrinsic or investment value. They are sentimental items rather than collectibles with real monetary worth.
Conclusion
Obama Inaugural Coins: In conclusion, if you’re thinking about buying Obama inaugural coins, make sure to understand what you are getting. These coins are mainly for sentimental value and should not be viewed as a way to make money. While they can be a nice keepsake to remember an important moment in history, don’t be swayed by the marketing hype. It’s essential to make informed decisions and know that, in the end, these coins are merely souvenirs.
Table: Summary of Key Points
| Key Point | Details |
|---|---|
| Coin Producers | Franklin Mint, New England Mint |
| Price Range | Approximately $9.95 plus shipping and handling |
| Composition | Genuine U.S. coins covered in 24-karat gold with Obama’s image |
| Legal Status | Not official U.S. Mint products; legal to produce as long as no commercial advertising used |
| Investment Value | Experts advise against viewing as investment; primarily sentimental pieces |
| Certificate of Authenticity | Certifies base coin is authentic; doesn’t guarantee future value |
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FAQs
What are Obama inaugural coins?
Obama inaugural coins are commemorative coins created to celebrate Barack Obama’s presidential inauguration.
Are these coins official U.S. Mint products?
No, these coins are not produced or endorsed by the U.S. Mint and are considered unofficial.
What is the main value of these coins?
The main value of these coins is sentimental, as they commemorate a historic event, rather than monetary.
Can I consider these coins as an investment?
Experts suggest that these coins should not be viewed as investments due to their low potential for increasing value.
What does the certificate of authenticity mean?
The certificate states that the base coin used is genuine, but it does not guarantee any future market value.