To qualify as a “security” also known as an “investment contract” Luminium Coin would need to qualify for the 4 criteria of the Howey Test.
Established the Supreme Court, an investment contract constitutes the following:
1. An investment of money
2. In a common enterprise
3. With the expectation of profit
4. To be derived from the efforts of others 
When you invest in Luminium Coin, you invest in aluminum and make or lose money based solely on the performance price of aluminum. Your investment is not in the common enterprise of the company. Essentially, Luminium Coin is a warehouse receipt for aluminum.