Since his election late last year, Barack Obama has enjoyed not only unparalleled popularity but also an unparalleled variety of commemorative coins. Seasoned collectors have mostly dismissed the coins as uncollectable, because they are being produced in unlimited numbers and are usually produced by modifying normal US coins. The US Mint and many grading services have even gone as far as issuing warnings that these coins are unlikely to increase in value.
What seasoned collectors seem to have failed to appreciate, though, is that the average person is probably not buying a Barack Obama Dollar in the hopes of making a buck. They are buying for the same reason anyone buys a memento to mark a special occasion. And to supply the insatiable demand for these coins, at least 5, probably many more, different types have appeared.
The reason I am writing about Obama Commemoratives today is because I have just become aware that the country of Vanuatu has released an Obama Commemorative Coin of their own. Unless you live there, or are some kind of geography expert, it is probably news to you that there even is a country called Vanuatu, a tiny archipelago of islands located in the pacific ocean. It should be mentioned that these islands have absolutely nothing to do with the US, except perhaps that some American tourists vacation there. Most recently before their independence they were governed by the UK and France. The only possible reason I can imagine why this country would mint an Obama related coin is to cash in on coin collectors and tourists.
It would not be a new phenomenon. Micro-nations have a history of producing semi-bogus commemoratives. The Principality of Sea Land produced commemorative coins for each of its 3 inhabitants. In Australia there is a farm that declared itself independent. Known as the Hutt River Principality, it has produced a dizzying array of commemorative coins, almost none of which have anything to do with the Hutt River. For example, there are coins with images and mottoes for operation Desert Storm featuring American stealth jets. For very small nations the amount of money to be gained from such coins can make up a large fraction of their total income, so it shouldn’t really be surprising they will sell coins to anyone who will pay for them.
So the final word is, the Vanuatu Obama Coin is a questionable investment at best. It’s cool enough to write an article about, but I’m not planning on picking one up anytime soon.
Until next time!
Hi,
Ugh, I liked! So clear and positively.
I really enjoy reading Will the Real Obama Commemorative Please Stand Up? « Coins Daily . It’s very interesting. Hope you will post something like this again.