Any presidential election in this country will have a numismatic impact. Only time will determine the full effect of the impact, but it all centers on the creation of history.

If you’re looking for opinions about the outcome of the most recent referendum on the executive branch of the government, you will find them in plenty of places, but not here. The focus here is more about what could change, with emphasis on the word “could.” Some items of note have already changed because of the outcome.

Interestingly, just a little over a month ago, the U.S. Mint began selling the Grover Cleveland Presidential silver medal. Nothing is unusual about that timing, as it had been planned all along as a Fall 2024 release. At its release, however, one of Cleveland’s claims to fame was that he was the ONLY president to have served two non-consecutive terms. The New Jersey-born Democrat actually had won the popular vote when running for his consecutive term but lost out in the Electoral College tally to Benjamin Harrison. Cleveland would be elected again four years later. The story has a familiar ring to it now that the 2024 election is completed. Cleveland loses his status as unique.

And then there’s the matter of political appointees. With a party change in the administration, it’s not all that unusual to see the appointees of the outgoing administration tendering resignations. Whether it’s as a courtesy or an outright desire to move on, some changes are bound to occur. Current Treasury Secretary Janet Yellen took office a week after the Biden administration set up shop at 1600 Pennsylvania Avenue. Will the first female Treasury secretary suffer a similar fate to Grover Cleveland and lose her status as an “only,” since her position is unique to date? Or will she be replaced by a man and continue her distinction as the only female Treasury secretary? Will she be replaced at all?

History and tradition are vital considerations in numismatics. Regardless of the outcome of the election, a new inaugural medal would be expected, if tradition holds. It will be interesting to watch what happens in the aftermarket for products made during the first Trump administration. Will these now become more valuable, or will the market wait for new products and abandon interest in the previous issues?

Right now, there are more questions than answers. We’ll just have to let the situation play itself out and see what the future holds from a standpoint of numismatic interest.

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