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Donald Trump talks to UFC representatives inside the Oval Office. Kent NISHIMURA / AFP via Getty Images

Trump’s family is selling gold coins he ‘designed’ for $12,000 to mark the first UFC fight on the White House lawn

“This is not political and has nothing to do with any political campaign.”

That’s one of the disclaimers attached to a new collectible coin the Trump Organization announced on June 9. The coin, which has President Donald J. Trump’s name and face engraved on one side, is meant to commemorate the June 14 UFC match being held on the White House lawn.

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The coin also costs $12,000.

Critics were quick to speak out against the coin, which was released along with three other, less expensive, gold and silver coins in a collaboration between UFC and the Trump Organization. The Trump Organization is owned by Donald Trump, but run by his sons Donald Trump Jr. and Eric Trump.

“June 9 is not only primary day, it is also the day that the Trump family officially starts to cash in on the UFC cage match planned at the White House,” says CNN anchor Anderson Cooper.[a]

Here’s why critics are upset about both the coin and the UFC match itself.

The coins aren’t the only collectible released

Some critics, like Cooper, feel the coin is the latest in a long line of merchandise made to profit from Trump’s presidency and political power.

“This is, of course, not the first product the president or his family members are pushing[b],” Cooper said, adding that Trump sneakers, a Trump phone and the Trump memecoin are also items that have been sold in the past.

A feature by Reuters says that the Trump memecoin was one of four crypto projects run by the Trump family; in total, they made $2.3 billion in profit from the projects. In turn, all the other investors lost a collective $2.3 billion.

One Trump crypto investor, Matt, lost $32,700 in Trump-related investments.

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“When a stock has presidential backing in a way — at least from his sons — you would think it would go up,” Matt said, adding he doesn’t blame Trump for the loss.

In an email to Moneywise, White House spokesman Davis Ingle said the UFC Trump coins don’t represent a conflict of interest for the family.

“The Fake News’ continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public’s distrust in what they read,” he said. “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.”[c]

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Numismatic coins can be a risky investment

The gold and silver UFC Trump coins are numismatic coins, which are valued because they’re rare and collectible, as opposed to bullion coins, which are valued based on their weight.

Some investors buy numismatic coins as an investment. But it’s risky, because it’s easy for sellers to inflate the value of these coins far past what they’re actually worth. The UFC Trump coin says that it’s “intended as a collectible item for individual enjoyment only, and not for investment purposes.”

As an example, the gold UFC Trump coin is 1 oz and Proof 70, certified by the Numismatic Guaranty Company (NGC). The NGC defines a Proof 70 coin as “having no post-production imperfections at 5x magnification.”

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On Bullion Exchanges, a random mint, 1 ounce, Proof 70 gold coin goes for around $4,300. According to APMEX, the spot price, or market value, of 1 oz of gold is currently $4,232.80. Both of those are significantly lower than the cost of a gold UFC Trump coin.

The UFC match itself has already stirred up controversy

Even before the coin’s release, people were unhappy about the June 14 UFC match on the White House lawn.

A report from Reuters found that only 16% of Americans approve of the fight, which takes place on Trump’s 80th birthday. Trump says the event is to celebrate America’s 250th Independence Day, which is generally celebrated on the Fourth of July.

The match itself cost “well over $60 million and tens of thousands of hours of labor,” according to a recent court filing. A White House official told Moneywise that UFC is the one paying for the event.

“There are no taxpayer dollars being used outside of what would be applied toward employees’ normal duties and responsibilities,” the official said. “The WH has not been involved in any cost negotiations or sponsorship discussions, and the federal government is not making any money from the event.”

Two Virginia residents are suing the Trump administration over the fight, saying it violates National Park Service regulations.

“This is an obstructionist, baseless, and dilatory lawsuit brought simply to prevent President Trump from hosting what will undoubtedly go down as one of the most historic sporting events in our Nation’s history,” An administration official told Moneywise.

The Trump Organization and the UFC did not immediately respond to a request for comment.

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Kit Pulliam Freelance Writer

Kit Pulliam is a DC-based financial journalist with over five years of experience writing, editing, and fact-checking financial content.

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