Paul Hollis Delivers Powerful Opening Statement as U.S. Mint Director Nominee

Key Concepts

• Nomination for Director of the United States Mint: The primary context of the transcript is the nomination of Mr. Paul Hollis to serve as the Director of the United States Mint.
• 1866 Law on Currency Portraits: A key legal provision discussed is the 1866 law prohibiting the printing of currency or coins with the likeness of a living person.
• Purpose of the 1866 Law: Reasons cited for this law include preventing personal aggrandizement, avoiding the appearance of monarchy, and preserving the dignity and neutrality of US currency.
• Potential Violation of the 1866 Law: The discussion centers on whether a proposed $1 commemorative coin with Donald Trump's likeness would violate this law.
• "Fight" Slogan and Meme Coin: The transcript addresses the potential inclusion of the slogan "fight" on the proposed coin, linking it to a "meme coin" used by Donald Trump and his family for profit.
• Harriet Tubman $20 Bill: A separate, but related, topic is the ongoing project to feature Harriet Tubman on the $20 bill.
• United States Mint Responsibilities: The Mint's responsibilities are outlined, including production, design, law enforcement, and marketing of coinage and metals.
• Bureau of Engraving and Printing Responsibilities: The distinction is made that the Bureau of Engraving and Printing handles currency, not the Mint.
• Numismatics: The field of coin collecting and study, which Mr. Hollis has a lifelong passion and professional career in.

Nomination and Background of Paul Hollis

Mr. Paul Hollis is appearing before the committee for consideration of his nomination to serve as the Director of the United States Mint. He expresses gratitude to President Trump for the opportunity and to Secretary Bessant for his confidence. He also acknowledges the committee members and staff for their time.

Hollis highlights his lifelong passion for coins, stemming from a memory of his grandmother giving him a coin saved during the Great Depression. He views coins as more than just metal, but as encapsulations of American history and tangible links to the past. His childhood interest led to a 30-year career in numismatics, including 14 years in public office. He has served as a state representative in the Louisiana State Legislature for 12 years and was elected to the Louisiana State Board of Education in 2023. He believes these roles have honed his ability to unify diverse voices, navigate complex systems, and deliver results under tight constraints. He asserts that his background has prepared him for the role of Mint Director, emphasizing his ability to build coalitions and inspire trust.

If confirmed, Hollis commits to guiding the Mint, a multifaceted organization responsible for production, design, law enforcement, and marketing, with a focus on efficiencies and a significant transfer to the Treasury. He sees himself as a passionate ambassador for both circulating and commemorative coinage, particularly as the nation approaches its 250th anniversary.

Legal Considerations: The 1866 Law and Proposed Trump Coin

A significant portion of the discussion revolves around a law passed by Congress in 1866 that prohibits the United States from printing any currency or coin with the portrait or likeness of a living person. The reasons for this law, as explained by Senator Warren, were to:

• Prevent personal aggrandizement or self-honoring portraits of living officials.
• Avoid the appearance of a monarchy.
• Preserve the dignity, neutrality, and non-political character of US currency.
• Avoid featuring living figures who might be controversial or still actively involved in public life.

Senator Warren directly questions Mr. Hollis about his familiarity with this law and whether he agrees that President Trump, being actively involved in public life, would fall under this prohibition.

Hollis states he has "vague familiarity" with the law. When asked about reports of the Treasury Department and Mint discussing a $1 commemorative coin with Donald Trump's likeness, Hollis again claims "vague familiarity" based on social media passages, but denies seeing a confirmation from the Department of Treasury.

Senator Warren asserts that if true, such a coin would be a "clear violation of this provision of law." Hollis responds by assuring the committee that if confirmed, he will bring "professional and high integrity" to the Mint and will "always be in compliance of the law." When pressed for assurance that he will not participate in minting a coin in violation of the law, Hollis states, "I will absolutely consult with legal staff at the mint and you have my absolute assurance that I will always be 100% compliance of the law."

The discussion then shifts to the reported inclusion of the slogan "fight" on one side of the proposed coin, mirroring the slogan on a "meme coin" that Donald Trump and his family profit from. Senator Warren questions whether it is inappropriate to print a coin for public use with "fight fight fight" on it, given its exact correspondence to the Trump meme coin slogan. Hollis, in response, states that he tends to be "more ears than mouth" on such opinions and would want to be "more informed" before sharing his view. He reiterates his commitment to speaking with "all the appropriate people before making an important decision."

Senator Warren expresses her view that the correspondence between the proposed coin's slogan and the Trump meme coin is "outrageous" and that it is "illegal to put the president's likeness on an official coin." She finds it "even more outrageous" that it corresponds to a coin the president is profiting from.

Harriet Tubman $20 Bill and Mint Responsibilities

Senator Warren also inquires about the Harriet Tubman $20 bill project, which has been in development for years. She asks if Mr. Hollis, if confirmed, would ensure the project stays on schedule while maintaining high standards for design and security.

Mr. Hollis clarifies that the United States Mint is responsible for coinage and metals, while currency, such as the $20 bill, falls under the purview of the Bureau of Engraving and Printing. He defers to those in the Bureau of Engraving and Printing for matters related to currency.

Conclusion and Key Takeaways

The transcript primarily focuses on the confirmation hearing of Paul Hollis for the Director of the United States Mint. A central theme is the legal and ethical implications of potentially minting a commemorative coin featuring a living former president, Donald Trump, and a slogan associated with his for-profit meme coin. Mr. Hollis, while expressing a deep passion for numismatics and a commitment to legal compliance, demonstrates a cautious approach when directly questioned about the controversial Trump coin proposal, emphasizing the need for further information and consultation with legal counsel. The distinction between the Mint's responsibilities (coinage) and the Bureau of Engraving and Printing's responsibilities (currency) is also clarified in the context of the Harriet Tubman $20 bill. The overarching takeaway is Mr. Hollis's stated intention to uphold the law and ensure the integrity of the United States Mint if confirmed.