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The U.S. Mint has started producing a new $1 coin featuring President Donald Trump, commemorating the 250th anniversary of the signing of the Declaration of Independence. Treasury Secretary Scott Bessent announced on Wednesday (July 15) that the coin, which has a gold-like finish, will be available in the fall. This marks the first time in a century that a living president appears on U.S. currency, with the last instance being President Calvin Coolidge on a half-dollar coin.
The coin's design, approved by the U.S. Commission of Fine Arts, depicts Trump in a suit and tie, with "LIBERTY" and the dates 1776-2026 inscribed on the front. The reverse features the traditional bald eagle from the Great Seal of the United States. Although federal law typically bars living presidents from appearing on currency, the Trump administration cited the Circulating Collectible Coin Redesign Act of 2020 as allowing this exception for the nation's Semiquincentennial.
However, the decision has sparked controversy. Members of the Citizens Coinage Advisory Committee (CCAC), which typically reviews coin designs, stated they were not given the opportunity to review this coin. Donald Scarinci, a long-time committee member, expressed concerns about the legality of bypassing the CCAC's review.
Despite the controversy, Bessent defended the coin's legality, asserting that both the Mint and the Treasury Department confirmed it does not violate any laws. The coin is part of broader efforts to honor Trump, including his signature on paper currency and discussions about a commemorative $250 bill featuring his portrait.