Donald Trump’s election Nov. 8 as the 45th president of the United
States opens the door to a number of numismatic collectibles for
hobbyists to pursue and will result in changes at the Treasury
Department and possibly the U.S. Mint.
Prime among the new collectible items are the official presidential
inaugural medal to be issued through President-elect Trump’s inaugural
committee, as well as U.S. paper money, which will eventually bear the
signatures of a new Treasury secretary and U.S. treasurer.
The official inaugural medal is issued by the winner’s inaugural
committee and should not be confused with the traditional Presidential
medal struck and issued by the U.S. Mint using designs from one of the
members of the Mint’s engraving staff.
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Private mints compete for the contract to produce the official
inaugural medal by submitting proposed design sketches or prototype
metals struck in one or more metallic versions.
The winner of the contract may issue die-struck medals in different
sizes, metallic compositions and set combinations as approved by the
inaugural committee or subcommittee.
Issuance of an official inaugural medal for each presidential
inauguration has been a tradition since the first one was issued in
1901 for the inauguration of President William McKinley.
First term medals feature a portrait of the president on the
obverse; second term medals traditionally show the vice president’s
portrait alongside the president’s. The last presidential inaugural
medal, issued in 2013 for President Obama’s second inauguration, was
produced under contract by Medalcraft Mint in Green Bay, Wis., and
includes Vice President Joe Biden’s likeness in the design along with
that of President Obama.
Medalcraft Mint also produced the inaugural medals for President
Obama’s first term.
While it is considered an honor to secure the medal contract, the
number of mints vying for that honor can usually be counted on one hand.
Medalcraft Mint plans to submit a proposal to execute the official
Trump presidential inaugural medal, Tony Moran, manager of government
sales for Medalcraft Mint, told Coin World Nov. 9. The private
mint had also prepared design sketches and models featuring Hillary
Clinton in case the election took a different turn.
Moran said the Medalcraft Mint’s engraving staff is working on
refinements to models for three different obverse portraits and three
Once the refinements are made, dies and other tooling will be
prepared to strike 3-inch bronze prototype medals for consideration by
the Presidential Inaugural Committee.
Moran said if Medalcraft Mint is awarded the official inaugural
medal contract, likely 2.75-inch or 3-inch silver medals will also
struck, along with a 1.5-inch gold medal, to be offered in sets with
the bronze version.
Collectors can expect medals to be available for purchase before
President-elect Trump’s Jan. 20 inauguration.
Change in signatures
With Trump’s election as president, Treasury Secretary Jacob Lew
will be out of the cabinet. And his signature will be eventually
replaced on U.S. paper money with that of his successor.
President-elect Trump has previously indicated that he wants to give
the Treasury secretary job to his finance chairman, Steven Mnuchin, a
17-year-veteran of Goldman Sachs.
Mnuchin is the chairman and chief executive of the private
investment firm Dune Capital Management. Mnuchin was also co-founder,
chairman and CEO of OneWest Bank, which was sold to CIT Group in 2015.
Another office awaiting a Trump appointment is that of United States
treasurer. The treasurer’s facsimile signature appears on Federal
Reserve notes with that of the Treasury secretary.
Current series notes include the signature of Rosa Gumataotao Rios
as U.S. treasurer. Rios resigned the position in July. No names have
been widely circulated as a replacement and it seems unlikely that an
appointment will now be made by President Obama.
The position of U.S. Mint director could also be affected by the
outcome of the Nov. 8 election.
The Mint director’s post has been vacant since January 2011 when
Republican Edmund C. Moy left for the private sector.
President Obama’s nomination of Bibiana Boerio never made it out of
the Senate committee. And the nomination of Rhett Jeppson, the Mint’s
principal deputy director, as President Obama’s second choice for Mint
director made it out of committee earlier this year, but was never
brought before the full Senate for a vote.