Trump’s US ‘gold dollar’ coin has no precious metal

President Donald Trump is to appear on a new US one-dollar “gold coin” being issued for America’s 250th anniversary, despite the coin containing no gold or other precious metals.

The coin will carry a gold-coloured finish but will be struck from base metals and enter production in Philadelphia ahead of a planned release this fall, according to a U.S. Mint spokesperson cited by The Wall Street Journal on Wednesday.

Treasury Secretary Scott Bessent unveiled the design showing Trump’s portrait beside the words “In God We Trust” and the dates 1776-2026.

“As America commemorates 250 years of independence, the U.S. Mint will begin striking this new $1 gold coin to honor the enduring legacy of liberty and a lasting symbol of patriotism,” Bessent said in a social media post on X announcing the design.

“Featuring President Trump, it celebrates the strength of American values, and the promise of a nation dedicated to preserving freedom for all.”

Intrinsic value

The launch comes as gold prices hover near record levels, highlighting the contrast between the commemorative coin’s appearance and its intrinsic value.

Unlike bullion coins such as the American Gold Eagle or American Gold Buffalo, which contain specified amounts of gold and trade based largely on the value of the underlying metal, the new dollar coin is legal tender with no precious-metal content.

The design has also sparked legal and political debate because it depicts a sitting president. The Journal said that the Citizens Coinage Advisory Committee has declined to endorse designs featuring Trump, while some committee members argue federal law prohibits such a coin.

Treasury officials maintain the issue is lawful under legislation authorizing special one-dollar coins for the United States’ 250th anniversary.

Some commentators on X lampooned the design, saying putting Trump’s head on the coin was one way to get Democrats to stop spending. Others said it was straight from a banana republic, North Korea or other dictator, in line with the president’s penchant for gold and putting his name on buildings, bridges and airports.