Warren, Wyden Call on the Treasury and the U.S. Mint to Halt Production of 24-Karat Trump Gold Coin
“It is troubling enough that the Mint has developed a coin bearing the President’s image, which is more befitting a monarchy than a democracy. At the very least, the Mint should ensure that a coin intended to honor the nation’s 250th anniversary is not made of gold linked to exploitation and criminal activity.
“(S)top all production processes on the Trump 24-karat gold coin, conduct a public audit, and provide a briefing on your agency’s efforts to address concerns on the potentially illicit sources of U.S. gold”
Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and Ron Wyden (D-Ore.), Ranking Member of the Senate Finance Committee, sent a letter to Secretary of the Treasury Scott Bessent and Director of the U.S. Mint Paul Hollis urging the Mint to halt all production of the 250th anniversary 24-karat Trump gold coin and conduct a public supply chain audit to ensure that the coins are not composed of gold that has been illegally procured.
An April 2026 New York Times investigation traced gold labeled as “American” by the U.S. Mint to foreign sources, including Peruvian and Mexican pawn shops as well as Columbian mines controlled by the Clan del Golfo, a major drug trafficking organization that has been sanctioned by the United States since 2013 and charged with human rights abuses.
“The U.S. government, through its gold purchases, may have indirectly contributed to the financing of cartels and foreign criminal organizations,” wrote Ranking Members Warren and Wyden. “According to recent reports, millions of dollars in foreign gold have entered the Mint’s supply chain in the past few years, including from countries where the gold is sourced from criminal organizations like drug cartels, raising the possibility that the planned Trump coin could be produced using cartel-linked gold.”
“This recent investigation raises serious concerns that the U.S. Mint is legitimizing illicit gold. It is troubling enough that the Mint has developed a coin bearing the President’s image, which is more befitting a monarchy than a democracy. At the very least, the Mint should ensure that a coin intended to honor the nation’s 250th anniversary is not made of gold linked to exploitation and criminal activity,” concluded the Ranking Members.
Ranking Members Warren and Wyden conclude by requesting written responses and urging Secretary Bessent and Director Hollis to end production of the 24-karat Trump gold coin, conduct a public audit, and provide a briefing on their efforts to address concerns on the potentially illicit sources of U.S. gold by June 18, 2026.
Ranking Members Warren and Wyden have repeatedly pressed the Treasury Department over concerns related to oversight of U.S. currency.
- In April, Senator Warren sent a letter to Secretary Bessent requesting information on the decision to put President Trump’s signature on future U.S. paper currency.
- In May, Ranking Members Warren and Wyden sought information from the Treasury Department regarding the Mint’s purchases of foreign gold and the risk that U.S. government supply chains could be linked to criminal organizations.
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