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The U.S. Mint unveiled the designs for coins commemorating the 250th anniversary of American independence next year. They depict the founding documents and the Revolutionary War, but so far, not President Donald Trump, despite a push among some of his allies to get his face on a coin.The Mint abandoned designs developed during Joe Biden’s presidency that highlighted women’s suffrage and civil rights advancements, favoring classical depictions of America over progress toward a more inclusive society.A series of celebrations are planned next year under the banner America 250, marking the anniversary of the adoption of the Declaration of Independence. All U.S. coins show the year they were minted, but those made next year will also display 1776. Trump, at least for now, isn’t getting a coin No design was released for a $1 coin, though U.S. Treasurer Brandon Beach, whose duties include oversight of the U.S. Mint, serving as a liaison with the Federal Reserve and overseeing Treasury’s Office of Consumer Policy, confirmed in October that one showcasing Trump was in the works. A draft design showed Trump’s profile on the “heads” side, known as the obverse, and on the reverse, a depiction of Trump raising his fist after his attempted assassination, The words “FIGHT FIGHT FIGHT” appear along the top.By law, presidents typically can’t appear on coins until two years after their death, but some advocates for a Trump coin think there may be a loophole in the law authorizing the treasury to mint special coins for the nation’s 250th birthday.Neither the Mint nor the Treasury Department responded when asked whether a Trump coin is still planned. The new designs depict classical Americana New designs will appear only on coins minted in 2026, with the current images returning the following year.The nickel, dime and five versions of the quarter will circulate, while a penny and half dollar will be sold as collectibles.Five versions of the quarter are planned depicting the Mayflower Compact, Revolutionary War, Declaration of Independence, U.S. Constitution and Gettysburg Address.The dime will show a depiction of Liberty, a symbolic woman facing down the tyranny of the British monarchy, and an eagle carrying arrows in its talons representing America’s fight for independence.The commemorative nickel is essentially the same as the most recent nickel redesign, in 2006, but it includes two dates on the head’s side instead of one, 1776 and 2026. Two collectible coins are planned A half dollar coin shows the face of the Statue of Liberty on one side. The other shows her passing her torch to what appears to be the hand of a child, symbolizing a handoff to the next generation.The penny is essentially the same as the one in circulation, which was discontinued earlier this year and will be produced only as a collectible with two dates.Prices for collectible coins were not released. The Mint sells a variety of noncirculating coins on its website, with a vast range of prices reflecting their rarity.In honor of the 250th anniversary of the U.S. Marine Corps founding, for example, a commemorative half dollar coin is available for $61, while a commemorative $5 gold coin goes for $1,262. Up to 750,000 copies of the former will be minted, but no more than 50,000 of the latter. The abandoned designs Congress authorized commemorative coins in 2021. During the Biden administration, the Mint worked with a citizens advisory committee to propose designs depicting the Declaration of Independence, the Constitution, abolitionism, suffrage and civil rights.Those designs included depictions of abolitionist Frederick Douglass and Ruby Bridges, who was escorted to school by the National Guard at age 6 years amid opposition to racial integration at public schools.Those designs represented “continued progress toward ‘a more perfect union,'” said Sen. Catherine Cortez Masto, D-Nevada, quoting a phrase from the preamble to the Constitution.“The American story didn’t stop at the pilgrims and founding fathers, and ignoring anything that has happened in this country in the last 162 years is just another attempt by President Trump to rewrite our history,” Cortez Masto said in a statement. Jonathan J. Cooper, Associated Press
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Multiple news reports this week said that President Trump is expected to reclassify marijuanas drug scheduling, which would lessen restrictions on its use and potentially allow companies that operate in the cannabis space to increase business. After the news broke, the stock prices of several cannabis industry companies skyrocketed. Heres what you need to know. Whats happened? On Thursday, multiple outlets reported that the Trump administration is considering reclassifying marijuana from its current level as a Schedule I drug to a Schedule III drug. The Washington Post was the first to report on the potential reclassification, citing six sources familiar with the matter. As with most things Trump does, he is expected to issue a reclassification directive via an executive order. While the Post notes that the rescheduling would not legalize marijuana on a federal level, it would loosen restrictions on its use and potentially be a boon to companies operating in the burgeoning cannabis space. A White House official told Fast Company Friday that no final decision has been made on the reclassification. Marijuana could go from Schedule I to a Schedule III drug If the reclassification goes ahead, marijuana would be reduced from a Schedule I classification level to a Schedule III. A Schedule I drug is any drug with no currently accepted medical use and a high potential for abuse, according to the United States Drug Enforcement Administration (DEA). Drugs in this category include ecstasy, heroin, LSD, peyote, and, currently, marijuana, among others. A Schedule III drug is a drug with a moderate to low potential for physical and psychological dependence, the agency notes. Current Schedule III drugs include anabolic steroids, ketamine, testosterone, and Tylenol with codeine. If the rescheduling of marijuana does go ahead, it will then be lumped in with products such as Tylenol with codeine as far as classification goes. That would make marijuana less regulated than Schedule II drugs like Adderall, cocaine, Demerol, fentanyl, OxyContin, Ritalin, and Vicodin. Cannabis stocks get high after reclassification reports As CNBC notes, the reclassification of marijuana from a Schedule I to a Schedule III drug would have economic advantages for cannabis companies, mainly in the form of different tax regulations. It could also help spur investment in those companies as stigma further reduces around the use of cannabis products. Today, in early-morning trading, investors in those companies are cheering the news. Numerous cannabis industry firms are seeing their stock prices soar as of the time of this writing, including: Aurora Cannabis Inc. (Nasdaq: ACB): up 12% Canopy Growth Corporation (Nasdaq: CGC): up 30% cbdMD, Inc. (NYSE: YCBD): up 77% Tilray Brands, Inc. (Nasdaq: TLRY): up 28% However, it’s worth mentioning that while cannabis stocks are flying high today, there is no guarantee from the administration yet that marijuana will be reclassified. Leaving marijuana classified as a Schedule I drug could weigh heavily on cannabis companies stock prices in the months ahead. And even with todays price jumps, cannabis companies have had a pretty horrible run over the past five years as far as their share prices are concerned. Aurora Cannabis shares are currently down 94% over the past 60 months. Canopy Growth Corporations shares are down 99% during that same time. Meanwhile, Tilray Brands is down 85% and CbdMD is down 99% during the same period.
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President Donald Trump signed an executive order Thursday aimed at blocking states from crafting their own regulations for artificial intelligence, saying the burgeoning industry is at risk of being stifled by a patchwork of onerous rules while in a battle with Chinese competitors for supremacy.Members of Congress from both parties, as well as civil liberties and consumer rights groups, have pushed for more regulations on AI, saying there is not enough oversight for the powerful technology.But Trump told reporters in the Oval Office that “there’s only going to be one winner” as nations race to dominate artificial intelligence, and China’s central government gives its companies a single place to go for government approvals.“We have the big investment coming, but if they had to get 50 different approvals from 50 different states, you can forget it because it’s impossible to do,” Trump said.The executive order directs the Attorney General to create a new task force to challenge state laws, and directs the Commerce Department to draw up a list of problematic regulations.It also threatens to restrict funding from a broadband deployment program and other grant programs to states with AI laws.David Sacks, a venture capitalist with extensive AI investments who is leading Trump’s policies on cryptocurrency and artificial intelligence, said the Trump administration would only push back on “the most onerous examples of state regulation” but would not oppose “kid safety” measures. What states have proposed Four states Colorado, California, Utah and Texas have passed laws that set some rules for AI across the private sector, according to the International Association of Privacy Professionals.Those laws include limiting the collection of certain personal information and requiring more transparency from companies.The laws are in response to AI that already pervades everyday life. The technology helps make consequential decisions for Americans, including who gets a job interview, an apartment lease, a home loan and even certain medical care. But research has shown that it can make mistakes in those decisions, including by prioritizing a particular gender or race.States’ more ambitious AI regulation proposals require private companies to provide transparency and assess the possible risks of discrimination from their AI programs.Beyond those more sweeping rules, many states have regulated parts of AI: barring the use of deepfakes in elections and to create nonconsensual porn, for example, or putting rules in place around the government’s own use of AI. Jonathan J. Cooper, Associated Press
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