A lot of people stand to make a mint off the election of Donald Trump. But one group is excited about that in a literal sense: the Professional Numismatists Guild.
The group of coin collectors reports Trump’s victory “lifted the United States rare coin market in the last two months of 2016,” according to its annual analysis of coin auctions. And that’s a good sign, since coin sales plunged from $536 million in 2014 to $342 million last year.
So Trump is poised to Make Doubloons Great Again. Given his penchant for putting his name on things, his gold fetish, and his opportunity to fill the U.S. Mint director role President Obama left vacant for five years, could we actually see some Trump-faced gold coins soon? They would look great in a collection with Nixon and Reagan.
“After the November elections, there was a notable increase in demand for high-quality rare coins, including those priced at $100,000 or more,” says president Dana Samuelson. They’re just calling it the “Trump Effect,” and it’s an effect Debt.com spotted in some other interesting places…
Gun sales cool
Trump is much more familiar with the gun lobby than the coin collecting lobby. The National Rifle Association claims it was “the first major organization to offer him our full-throated endorsement” last May and remains his “strongest, most unflinching ally.” In return, he has pledged to get rid of gun-free zones on school campuses his first day in office. And just yesterday the organization jubilantly tweeted this…
— NRA (@NRA) January 4, 2017
But since Obama never actually came after everyone “clinging to their guns” and only has a few days left to try, the panic the NRA celebrated seems to be subsiding — and affecting gun sales. “Instead of buying 10,000 rounds of .22 they’re now OK with buying 500 rounds because they know it’ll be there,” one Missouri arms dealer told The Springfield News-Leader.
Several other gun businesses told the Orlando Sentinel the holidays were a pretty quiet period — not slow, but not what they’ve become used to under Obama.
On the other hand, gun store owners told NBC News that minority customers are picking up some of the slack, possibly because they fear Trump’s election will incite new hate crimes.
Time to get wasted
The DC Cannabis Coalition will be handing out 4,200 joints at Donald Trump’s inauguration, according to local CBS affiliate WUSA9.
The jokes write themselves, but the economics may be there. Trump has said legalization is a state issue, not a federal one — and an increasing number of states are saying it’s OK. So it’s no surprise that a Marijuana Business Daily survey found one in five cannabusinesses are changing their plans for 2017 because of Donald Trump.
As many as 10 percent of MJ CEOs say they will speed up plans or grow more than they thought before the election. More than a third are undecided about ramping up — possibly until they see if Trump’s picks for attorney general and health secretary, both opposed to the marijuana industry, get the jobs.
Separately, French cognac maker Remy Cointreau thinks Trump’s tax policy will have its high-end bottles — up to $80,000 each — rolling off the shelves along with other fancy spirits.
One thing’s for sure: There were three million more Clinton voters than Trump voters, and a fair number of them will be self-medicating over the next four years.