Donald Trump wants to add another government-issued item to the growing list bearing his name or likeness: a $1 commemorative coin.
Treasury Secretary Scott Bessent on Wednesday unveiled the design for a new gold-hued $1 coin marking America’s 250th anniversary. The coin features a forward-facing portrait of Trump alongside the words “In God We Trust” and the inscription “1776-2026.” The initials “JFM” stand for Joseph F. Menna, chief engraver of the US Mint since 2019.
Bessent said on X that the coin “celebrates the strength of American values, and the promise of a nation dedicated to preserving freedom for all.”
The design is likely to face legal scrutiny, according to committees overseeing coins and medals. A long-standing federal code on “engraving and printing currency and security documents” says that “only the portrait of a deceased individual may appear on United States currency and securities.”
Donald Scarinci, a member of the Citizens Coinage Advisory Committee, a nonpartisan federal group created by Congress to advise the Treasury Secretary on US coin and medal designs, told Business Insider that the Committee has never been asked to review a coin design with Trump’s portrait on it and that production of the coin would be illegal.
“No one other than Congress has the power to legislate or to enact coin designs in America,” said Scarinci. “And Congress has not passed legislation authorizing this coin.”
“The law that Congress passed creating the Citizens Coinage Advisory Committee requires that every coin that is produced by the United States Mint be reviewed by both the Citizens Coinage Advisory Committee and the Commission on Fine Arts,” Scarinci added.
A Treasury spokesperson told Business Insider that the Circulating Collectible Coin Redesign Act of 2020 “authorizes the Secretary of the Treasury to issue $1 coins with designs emblematic of the United States Semiquincentennial during the one-year period beginning January 1, 2026.”
The text of the Act referenced by the Treasury, however, also states that “no head and shoulders portrait or bust of any person, living or dead, and no portrait of a living person may be included in the design on the reverse of specified coins.”
There will be no gold or other precious metals in the coin, despite its gold-like finish, the treasury spokesperson said. It’s set to be minted in Philadelphia and available in the fall.
The Treasury’s move drew immediate bipartisan opposition.
“Congratulations, we’ve entered the end stages,” Rep. Thomas Massie, a Republican who represents Kentucky’s 4th congressional district, posted on X in response to Bessent’s post. “Eliminate the penny, plug the nickel, and make some commemorative gold coins nobody can afford.”
“American families are struggling just to make ends meet,” Rep. Brad Schneider of Illinois’s 10th Congressional District wrote on X. “The Golden Trump Coin perfectly reflects President Trump’s utter disregard for the burdens his administration is laying on our citizens.
The coin is the latest example of Trump’s push to put his imprint on federal symbols during his second term. His administration has also rolled out commemorative passports featuring his likeness, announced plans for new $100 bills bearing his signature, and backed proposals to place his image on other commemorative currency.
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