Mind Matters Natural and Artificial Intelligence News and Analysis

TagKennedy half-dollar

fake coins
Fake gold and silver coins closeup

In It For the Money: The Trump Coin Sham

Beware deceitful memorabilia hawkers who sell cheap mementos, hoping you'll be the fool that helps make them rich

Americans have a seemingly insatiable demand for memorabilia, no matter how cheaply it is made or how cheesy it looks. Some are preparing for their nostalgic years; some think they are making smart investments in collectibles that become more valuable as time passes. The problem with “investing” in collectibles is that an investment’s intrinsic value depends on how much income it generates. Stocks, bonds, rental properties, and profitable businesses all have intrinsic value. Mementos don’t. They rely on the Greater Fool Theory. If fools don’t appear, memento collectors are stuck with cheap and cheesy trinkets. This sobering reality does little to discourage people intoxicated by dreams of riches. For example, the White House Gift Shop sells a large collection of…