The U.S. Mint, Politics, and Collectibles: What’s Behind Recent Decisions?
From halting cent production to quietly pulling the Jan. 6 Congressional Gold Medal replica, the U.S. Mint is making waves. Meanwhile, its partnerships with private enterprises and the rise of unregulated meme coins add to the evolving landscape of numismatics. What does it all mean for collectors?
Cent production has been halted at the U.S. Mint as a cost-saving measure, but that isn’t the only news coming from the mint. Sales of the replica of the Congressional Gold Medal marking the events of Jan. 6, 2021, and honoring “sacrifice of heroes including Capitol Police Officers Brian Sicknick and Howard Liebengood, Metropolitan Police Department Officer Jeffrey Smith, and those who sustained injuries, and the courage of Capitol Police Officer Eugene Goodman” authorized by Public Law 117-32 were recently stopped without any comment being by the mint.
Once again, politics is the reason a numismatic item, be it a coin or a medal, has been introduced or abruptly halted. At about the same time, it has been learned that the Mint is in bed with a private enterprise, minting limited edition Silver American Eagle privy marked coins specifically for the entertainment, gaming, and collectibles company Nice Gang. The mint has previously made a similar deal with DC Comics.
Our physical legal tender continues to be challenged by other forms of monetary instruments. The Securities and Exchange Commission has recently announced it does not view most meme coins, which are crypto tokens that originated from memes, as securities under United States federal law. According to the SEC, people who purchase or hold meme coins are not protected by federal securities law, and people “who participate in the offer and sale of meme coins do not need to register their transactions with the Commission.”
These objects may be collectible, but there is also a significant downside risk to consider. The old phrase “buyer beware” should not be taken lightly when considering collecting them.
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