Invest Wisely, Avoid Presidential Coinsby Tim Manni
While the presidential message of “change” has been permanently ingrained on this latest bid for the White House, advertisers are engraving their own marketing ploy on change itself. Presidential coins are the subject of MarketWatch’s columnist Chuck Jaffe’s “Stupid Investment of the Week.”
Jaffe’s commentary focuses on “characteristics and problems that make an investment less than ideal for the average consumer, in the hope that focusing on the flaws in one situation will make those trouble spots easier to find elsewhere.”
This historic presidency has initiated a lot of hype and excitement. Yet, consumers looking to take advantage of the historical event by investing in collectibles, especially presidential coins, will see no significant return on their investment, says Jaffe:
The Obama coins present a true cautionary tale for consumers and investors, who all too frequently confuse sentimental value with real historic, collectible value.
With his election, an industry was born, and while it extends beyond coins to plates, stamps, poker chips and other items, the coins have gotten some of the most widespread attention.
The marketing premise here is very simple: The mint that makes the coins takes advantage of naïve consumers who don’t recognize that, from a numismatic standpoint, the specials are worthless.
As the economic environment continues to sour, don’t be fooled by the change you don’t need.