Republican Representative Thomas Massie of Kentucky has criticized the U.S. Mint's decision to produce a new $1 coin honoring former President Donald Trump, calling it a sign of "end stages" and warning consumers about potential scams. The U.S. Mint announced Wednesday that it would begin striking the commemorative coin, which features Trump's image, as part of the nation's 250th-anniversary commemoration.
Treasury Secretary Scott Bessent shared an image of the coin, stating it celebrates "the strength of American values, and the promise of a…" The coin will be gold-colored but made of non-precious metals, and is expected to be available in the fall. Bessent's office has indicated the coin is part of America's commemoration of 250 years of independence.
Massie expressed his disapproval on social media platform X, writing, "Congratulations, we’ve entered the end stages. Eliminate the penny, plug the nickel, and make some commemorative gold coins nobody can afford." He also added, "I feel sorry for the folks who will be sold worthless knockoffs of this by the usual grifters."
The production of the Trump coin follows a directive from Trump for the Treasury Department to cease the production of pennies, which cost four cents to make. Massie's comments also alluded to previous discussions about potentially making nickels from cheaper materials.
This development comes amid reports of significant earnings by Trump and his associates from various coin ventures. Last month, the Trump Organization partnered with UFC to sell commemorative gold coins priced as high as $12,000. Furthermore, Trump himself has reportedly earned hundreds of millions of dollars from a meme coin and billions from other cryptocurrency-related ventures. However, The New York Times reported earlier this month that nearly one million individuals who purchased the Trump meme coin collectively lost $3.8 billion.
Massie, who has been a vocal critic of Trump, is departing Congress at the end of his current term after losing his primary election to a challenger supported by Trump. He previously drew Trump's ire for backing legislation requiring the release of files related to Jeffrey Epstein.