The Donald Trump Coin is one of the hottest items on the internet.

There’s a style for every taste, each featuring a portrait of Mr. Trump. Sometimes he’s rendered in gold, staring thoughtfully into the distance. In others he’s smirking in silver, raising a thumb’s up, or even riding a missile while a bald eagle soars behind him.

Among all the options, one version stands out. Known online as simply the “Trump coin,” it has become a favorite of right-wing social media and fringe news sites. It’s advertised between claims of stolen elections or conspiracy theories about global cabals. Some ads even describe the coin as a kind of cryptocurrency, suggesting it would soon be worth thousands.

The Donald Trump coin itself features Mr. Trump’s face embossed in gold on a base of shining silver. His slogan, “Keep America Great,” is written in an arc atop his head.

It could be yours, too, for just $0. (Plus $9.99 shipping and handling.)

This particular version has become something of an internet mystery. It’s not obvious who’s promoting it or profiting from it. It’s sold by a mysterious news website about which little is disclosed. Mr. Trump has nothing to do with the coin. No identifiable company is taking credit.

Some internet sleuths have followed digital bread crumbs to suss out the organizations behind the coin’s popularity. The New York Times took a similar path, tracking a network of advertisers and following their activity from public storefronts to private marketing portals. Using guidance from insiders and marketing veterans, the search crisscrossed the globe, implicating a handful of companies and a legion of anonymous marketers operating in parts unknown.

What became clear was not just the coin’s unusual origins, but an entire disinformation supply chain that relied on falsehoods and misinformation at nearly every step. Fueling the coin’s success were fake social media accounts that pushed false ads and a fleet of misleading news websites that preyed on partisan discontent.

Seen in full, the Donald Trump coin illustrates what watchdogs have long understood: Many untruths that Americans encounter online aren’t created by foreign actors trying to sow division. They simply exist to help someone, somewhere, make a quick buck.

The Trump coin shows how the strategy has evolved since Mr. Trump’s election in 2016. As right-wing interest in cryptocurrencies increased, marketers started claiming the physical Trump coin was cryptocurrency, too. The idea gained traction among buyers who already believed Mr. Trump was working on his own cryptocurrency.

The collectible novelty item might seem harmless, but that is part of the danger, experts say, because it’s easy to underestimate how the drive for profit can create new incentives to spread disinformation online.

“You make it small enough and harmless enough that no one can object to the individual grift,” said Danny Rogers, a co-founder and the executive director of the Global Disinformation Index. “But taken together, you’ve built a movement.”

More about the Donald Trump Coin

Trump Commemorative Coins are privately minted coins that feature the likeness of former President Donald Trump. No government mints produce these coins. Since no standard Trump commemorative coin exists, the features, composition and design of the coins vary. Because it’s not a standard, government-issued coin, it’s important to go through a reputable online coin shop to make sure you are getting high-quality coins. The coins come in multiple different forms, including silver, gold and copper, and often feature intricate designs and engravings.

The Trump Coins were created as fun collectibles and a way for fans of the former president to show their support. Most Trump coins feature images of Trump with patriotic symbols or famous landmarks like the White House.

The designs of the Trump Commemorative Coins are created by a variety of private companies and organizations, many of whom have ties to the conservative movement and Trump’s political base. Some of the most popular coin designs feature Trump alongside other presidents, such as Ronald Reagan or George Washington.

The popularity of Trump Commemorative Coins can be attributed to their unique designs, their ties to conservative politics and the continued support for the former president among his base. However, they likely aren’t the best choice if you just want to invest in gold as there is far less demand for the coins than popular bullion coins like Canadian Gold Maple Leaf coins.

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