|
Each year a small number of foreign governments issue coins with designs that feature popular
subjects from United States culture and history such as U.S. Presidents and the Battle of
Gettysburg. Few, if any, of these coins, appear to be marketed within the country that issued them.
It is important to note that even if they are denominated as "dollars," they are not designed or
manufactured by the United States Mint, and they are not United States legal tender. They are
promoted by private businesses in the United States for sale through newspaper, television and web
advertisements.
Below are some examples of foreign coins marketed within the United States.
Republic of Liberia coins
Is it permissible for foreign governments to use images of U.S. Presidents, Civil War heroes, and
other popular images drawn from American culture on foreign coins that they market in the United States?
Yes, it is permissible for foreign governments to use images drawn from American culture on their coins
marketed abroad or in the United States. In some cases, foreign governments have adopted the term
"dollar" as their unit of currency (e.g., Republic of the Marshall Islands, Republic of Liberia),
so consumers may see non-United States coins advertised featuring dollar denominations. As sovereign
authorities, foreign governments may coin their own money and market their coins in the United States.
How can I determine whether the advertised coin is a foreign coin?
Often, it is extremely difficult to tell from the advertisement whether the featured coin is of foreign
origin, especially when it depicts images drawn from American culture and a "dollar" denomination.
In many instances, the issuing government is noted on the reverse of the coin, but that reverse coin image
is not always pictured in the advertisement. The United States Mint is endeavoring to contact U.S.
businesses currently engaging in such advertising practices and is requesting that they include a photograph
of the reverse image of the coin in their advertisements. We also request that they include a clear, noticeable
disclaimer in the text of the advertisement identifying the advertised coin as a foreign coin and identifying
the issuing government. We believe that these minor changes to existing advertising practices will greatly
reduce existing confusion in the marketplace.
Does a business need permission from the United States Mint to market foreign coins?
No. Businesses do not need the United States Mint's permission to market foreign coins in the United States.
Businesses, however, are expected to observe relevant trademark and false and deceptive advertising laws in
marketing foreign coins and are expected to refrain from attempting to pass off foreign coins as United
States coins.
Are foreign coins considered to be a good numismatic investment?
The United States Mint does not comment on a foreign coin's current or future value as a collectible item.
If you are primarily concerned about the long-term investment value of a foreign coin, you may wish to
consider contacting a reputable coin dealer before you purchase the coin. Also, you may wish to visit the
U.S. State Department web site to learn more about currency regulations and the existing exchange rate for
currency exchange in the issuing country (for example, see
www.travel.state.gov/liberia.html)
|
