Treasury Secretary Scott Bessent announced Wednesday that the U.S. Mint will begin striking a new $1 gold-finished coin that will feature the likeness of former President Donald Trump. The coin is part of a special project to commemorate America's 250th anniversary.
Bessent stated on X, formerly Twitter, that the coin "celebrates the strength of American values and the promise of a nation dedicated to preserving freedom for all." He has also made plans for a special $250 bill with Trump's likeness, though that initiative would require Congressional approval.
The move is expected to encounter issues as U.S. law currently bans placing the face of living individuals on currency. An 1866 law prohibited living people from being featured on any paper currency following public outcry in the 1860s when government official Spencer Clark was depicted on a 5-cent banknote. No living person has appeared on U.S. currency since.
During the coin's planning stages last winter, nine Democratic senators sent a letter to Bessent urging him to abandon the idea, calling it "un-American." According to the Bureau of Engraving and Printing, the depiction of Spencer Clark on a 19th-century banknote led to "public uproar."
Trump previously broke precedent by placing his signature on U.S. paper currency, a practice usually reserved for the names of the Treasury Secretary and Treasurer. Ted Lieu, a Democratic Representative from California, criticized Bessent's priorities, tweeting, "When you pull your head out of Trump’s a**, can you please focus on the economy? The American people are suffering."
Democratic strategist Mike Nellis echoed the sentiment, suggesting the decision was out of touch with Americans concerned about economic issues such as grocery prices. The White House and the Treasury Department have been contacted for comment.