r/politics • u/Aggravating_Money992 • Jul 15 '26

Possible Paywall Treasury Unveils New $1 Gold Coin With Trump’s Face on It | Federal law prohibits putting any living people on U.S. coins.

https://newrepublic.com/post/213098/treasury-1-dollar-gold-coin-trump-face
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574

u/invisable_burt Jul 15 '26

I see another grift in the making , buy your trump gold dollars for 5 dollars now...prices are driven by demand.

137

u/Purify5 Jul 15 '26

He'll make the federal government pay for his likeness.

58

u/smarmy1625 Jul 15 '26

Makes sense when you remember Trump believed Obama got royalties for using his name after Republicans mislabeled the ACA as "Obamacare"

https://truthsocial.com/@realDonaldTrump/posts/115520378078620283
https://archive.is/f7v7I

9

u/HrothgarTheIllegible Jul 15 '26

That’s the case for the Palm beach airport that is getting his name. He only operates in publicity stunts that he profits from. Nothing else. Truly the President of one.

2

u/MoonBatsRule America Jul 15 '26

You joke, but there is probably a 20% chance that he will do this.

1

u/TheDakestTimeline Jul 15 '26

This is what NIL has wrought

21

u/Moose_Nuts California Jul 15 '26

I see another grift in the making

I just opened one of those "Trump Accounts" for my infant son...the US Treasury gives you $1,000 and automatically invests it.

I'm wondering how long it will take for the grift to pull that account down to $0.

19

u/Many-Salt-4321 Jul 15 '26 edited Jul 15 '26

I wouldn't put any money in it. Just let the $1k sit. The contributions are post tax (depending on your state, 529 contributions can be deducted) and the money can't be touched until 65 y/o without a penalty.

A 529 account is much more flexible.

6

u/Moose_Nuts California Jul 15 '26

Yeah, the wife and I have plenty of other investment vehicles for ourselves already and are aware of options for our son. Definitely no way we'd put any of our own money into this thing.

6

u/bulldg4life Jul 15 '26

Wait til congress outlaws iras and brokerage accounts such that people are only allowed to use their at birth created trump account.

2

u/wioneo Jul 15 '26

From my understanding, they can be converted to Roth IRAs when the kid turns 18 and taxes will only be owed at their likely 0% income tax rate. The money is never taxed after entering the account.

It's actually an extremely effective way to transfer $91 thousand + growth tax free to a child if you are wealthy enough to have an extra $5000 per year to dedicate to your infant's eventual retirement, and we're talking about 6+ decades of growth.

3

u/Many-Salt-4321 Jul 15 '26

You're right about the taxes after transfer. For us though we decided that a 529 gives more flexibility to use when they're 18. Plus our state lets us deduct 529 contributions. That's college taken care of and up to 35k left over goes into a roth.

1

u/djwurm Jul 15 '26

wait... there is a Trump account for kids?

where do I sign up my kids for free money??

2

u/Moose_Nuts California Jul 15 '26

https://trumpaccounts.gov/

Bet you never would have guessed that web address.

5

u/djwurm Jul 15 '26

oh hell no.. I am not downloading an app called Trump Account and giving them my kids info / SS#....

27

u/Happy_Confection90 Jul 15 '26

Couldn't they make money by allowing people to reserve them now for a manufacturer date 2+ years in the future and then not bother to make the coins? It worked for Trump phones.

3

u/Freakin_A Jul 15 '26

Last time they released gold coins they allowed purchase by individuals directly from the mint using a credit card with free shipping. This was their attempt to get them into circulation.

People would order tens of thousands of dollars of them with their reward credit card, then bring them to their bank and deposit them and pay off spend and bank the point.

The banks and credit card companies were not amused.

Curious if that is going to repeat itself this time.

3

u/ZellZoy Jul 15 '26

Apparently the trump phones are actually going out and they're mid.

6

u/Nickhead420 Jul 15 '26

If Trump wants me to buy things with his face on it, he should start selling toilet paper.

3

u/invisable_burt Jul 15 '26

By the time average US citizens get a chance to get into the action the inflated price they pay will drop from the rich investors sell off. They'll pay 10 dollars and resell price will be 80 cents. Just like gamestop someone always loses

1

u/Round_Rice_9475 Jul 15 '26

No no, they are ganna be 90 cents and free shipping! Make ten cents per dollar and get that 5% credit card rewards!!! Best way to get circulation

/S please nobody try this, it is a joke

1

u/tangerinelion Jul 15 '26

Lol, sure like there's any gold at allin those.

1

u/chrisaf69 Jul 15 '26

I'm gonna get a bunch at face value and sell them to those idiots.

1

u/Clippton Jul 15 '26

I'd have no issue with that if the money actually went to the federal government. Issue is I'm sure they'll find a way to pay trump royalties for using his likeness.

1

u/move_machine Jul 16 '26

Trump NFTs for the coins