Wyden, Warren Press Trump Treasury and U.S Mint Over Sourcing of 24-Karat Trump Gold Coins

Wyden, Warren Press Trump Treasury and U.S Mint Over Sourcing of 24-Karat Trump Gold Coins

Recent Investigations Revealed That Much Of The Gold Being Sourced By The Trump Treasury Is From Illegal and Illicit Sources

Washington, D.C. - U.S. Senator Ron Wyden, D-Ore., said today he and U.S. Senator Elizabeth Warren, D-Mass., have requested the Mint cease its production of 24-karat gold coins with Donald Trump's image on them, until a thorough investigation proves the gold is not illegally sourced.

In April 2026, The New York Times discovered the U.S. Treasury Department has been buying gold from illicit sources for decades. These sales have directly benefited terrorist and cartel groups, including some under U.S. sanctions, such as the Clan del Golfo-a major Colombian drug trafficking organization.

"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," the senators wrote in their letter to U.S. Treasury Secretary Scott Bessent and U.S. Mint Director Paul Hollis. "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."

"Therefore, we ask that the Mint stop 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 by June 18, 2026," wrote Wyden, ranking member of the Senate Finance Committee; and Warren, ranking member of the Senate Banking Committee.

Last month, Wyden and Warren pressed Secretary Bessent after it was revealed that the Treasury Department has spent hundreds of millions of taxpayer dollars to buy gold from foreign mines controlled by cartels, terrorist groups, and other criminal syndicates.

In April, Wyden launched an inquiry to get more detail about the Trump administration's role brokering a deal to buy vast quantities of gold from Venezuela, where gold mines are exclusively controlled by terrorist organizations, potentially violating U.S. sanctions.

Wyden and Warren requested a response to the following questions from Secretary Bessent by June 18, 2026:

1. What stage in the production process is the Trump gold coin in currently?

2. Has the final design for the 250th gold coin, with President Trump's image, been officially approved by the U.S. Mint for production?

3. Can the Mint identify what refineries supplied the gold that were used or will be used in the Trump gold coin? Can the Mint certify the gold did not originate from cartel-linked mines?

4. How does the Mint plan to ensure gold from illicit sources did not enter the Mint gold supply chain for this gold coin and other gold coins?

5. What specific due diligence, if any, was conducted on refineries that the Mint sources gold from?

6. Secretary Bessent stated he will open an investigation into ensuring that U.S. Mint's gold suppliers comply with the law. Will you share that review with the Senate?

The text of the letter is here.