Following the historic election of Donald J. Trump as the 45th president of the United States, would you expect to see “The Donald” appear on a coin? Bernard von Nothaus, the notorious creator of the “Liberty Dollar®”, is way ahead of you!
Trump Dollar Coin?
It’s worth clarifying that von Nothaus’s so-called “Trump Dollar™” is not a legal tender coin. It’s not part of the U.S. Mint’s Presidential Dollar Coin program–which, by law, can only depict presidents who are no longer living. The series stopped at the 40th president, Ronald Reagan.
Instead, these pieces are essentially private tokens issued in gold, silver, and copper. In the numismatic industry, such items are typically referred to as “rounds”. Speaking to this fact is the inscription “NOT TO BE USED AS CURRENT MONEY” along the top rim and the indication of the manufacturer’s suggested retail price (MSRP) as opposed to a face value or denomination.
Billed primarily as political speech, these precious metal pieces are similar to the Ron Paul rounds (or medallions) in support of the libertarian-leaning candidate in 2008 and 2012.
After being entangled with the feds for years because his line of gold, silver, and copper pieces were deemed an illegal “private currency” and confiscated, Mr. von Nothaus has resumed his operations. For months, he has been producing his pro-Trump rounds, even before similar products depicting the president-elect began popping up elsewhere. In fact, these Trump Dollars™ appeared shortly after Mr. Trump announced his candidacy last summer.
Now, however, von Nothaus is being impeded because his Wells Fargo merchant account has been frozen. Apparently, the spike in orders since the presidential election has swamped the funding channel of his business.
Commenting on the high volume of orders, von Nothaus told reporters, “We got over 600 orders in the last 5 days—that’s over a hundred orders a day.”
Describing his conversation with a representative from the bank, von Nothaus continued, “I go, ‘You mean we’re too successful with Trump Dollars? Is that what you’re telling me?’ He goes, ‘Yes.’”
As a result of the frozen merchant account, production and distribution of these pieces has been halted. Von Nothaus conceded that, due to this roadblock, it may take months before he can get access to the capital needed to get the products to his customers.
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The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.
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