Proposed gold Trump coin unveiled

(NBC, KYMA) - Treasury Secretary Scott Bessent revealed new images of a "proposed" coin. It's a dollar gold coin, featuring President Donald Trump.

Secretary Bessent's post on social media says in part, "As America commemorates 250 years of independence, the @usmint will begin striking this new $1 gold coin to honor the enduring legacy of liberty and a lasting symbol of patriotism."

But there is a catch. It's currently against the law, actually a couple of them, for a living president to be featured on our money.

The Presidential $1 Coin Act of 2005, in Section 102, restricts such dollar coin series to deceased presidents only, and in the Circulation Collectible Coin Redesign Act of 2020 despite giving the Mint permission, in Section Three, to issue dollar coins "with designs emblematic of the U.S. semiquincentennial."

In another section, it restricts any living person from being included on the tails side.

The Treasury Department has argued that a coin featuring President Trump could be released under the 2020 Act, so we'll probably have to wait to see what Congress, or a court, has to say.

Congress authorizes the U.S. Mint to produce coins. According to the U.S. Mint, the Treasury Secretary approves designs.