Trump on Currency? Gold Coin Plan Likely to Move Ahead Despite Opposition

A federal commission, the United States Commission of Fine Arts, has approved a 24-carat commemorative gold coin featuring one of Donald Trump’s recent presidential portraits. This is to celebrate the 250th anniversary of the US on July 4.

The committee, consists of members solely hand-picked by Trump, approved a design with an image of President Trump in the Oval Office, with 1776 on one side and 2026 on the other.

“As we approach our 250th birthday, we are thrilled to prepare coins that represent the enduring spirit of our country and democracy, and there is no profile more emblematic for the front of such coins than that of our serving President, Donald J. Trump,” US Treasurer Brandon Beach said.

The US Mint will soon begin the production of the “Trump coins,” whose size and denomination are still under discussion. Democrats and members of another federal committee called it a deeply inappropriate and potentially illegal idea.

The new coin designs are supposed to receive approval from two panels and one of them are Treasury. The bipartisan Citizens Coinage Advisory Committee refused last month to consider the proposed gold coin and said putting a sitting president on currency would break with democratic norms and reek of subservience to royalty.

However, many coin committee members informed the Trump administration could seek to mint the coin without their panel’s approval even as there would be some legal challenges.

Not the First Time

Trump has taken several steps to stamp his name and image across parts of the federal government, including attaching it to both the Kennedy Center and the US Institute of Peace.

Nor is this his first brush with the world of coins. Trump launched the $TRUMP meme coin during his current term and hosted a private dinner in May for 220 cryptocurrency investors, with seats reportedly fetching $1mn apiece. The event drew unease on Capitol Hill, with both Democrats and Republicans voicing concern.