"Tribute" Morgans

I spotted this in a mail order catalog I receive (from a company with which I've had satisfactory dealings in other categories of merchandise). I've no quibble with the legality of this offering - the "coins" lack the denomination legend and so aren't exact replicas, and they're still prominently marked "COPY" anyway. But certainly there's nominal inherent value here, and I hate to see the numismatically unsophisticated buy such junk. One thing that's interesting is that the seller is located in Minnesota, where by state law bullion/coin dealers are highly regulated. However, I'd think this particular item contains less than 1% silver, so it may be exempt from the statutory disclosure requirements relating to its present fair value and prospectus.