PEOPLE previously reported that the Treasury Department is also drafting a $1 coin that would feature a portrait of Trump on its face.

Five Democratic senators and independent Maine Sen. Angus King called on Bessent to cease creation of the new coins.

“Placing the bust of a living president on a coin celebrating the 250th anniversary of the Declaration of Independence would send a message to America and the world that contradicts who we are as a nation,” they wrote in a letter to Bessent in January.

Democratic Sen. Catherine Cortez Masto of Nevada, who led the letter, filed legislation earlier this year to prevent any living or sitting president from appearing on currency.