US paper currency will soon bear Donald Trump's signature, the Treasury Department announced Thursday, in a move that would be a first for a sitting American president and coincide with the country's 250th anniversary.

Historically, the signatures on dollar bills belong to those of the Treasurer of the United States and the secretary of the Treasury. But the upcoming new bills will feature those of Trump and current Treasury Secretary Scott Bessent.

"Under President Trump's leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability," Bessent said in a statement announcing the decision.

"There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than US dollar bills bearing his name, and it is only appropriate that this historic currency be issued at the Semiquincentennial," he added.

The move would be the latest effort by Trump to circumvent longstanding practice and put his mark on American currency.

Last week, an advisory commission hand-picked by Trump approved the design of a commemorative gold coin featuring his image -- also intended to mark the 250th anniversary of the July 4, 1776 founding of the United States.

One side of it shows a glaring Trump standing with his fists bunched on a desk, and the other features an eagle perched with wings spread on what appears to be a bell.

The coin does not have a monetary value and its sale price has not been disclosed, but similar commemorative coins sold by the US Mint can cost more than $1,000.

The move to put Trump's countenance on a coin -- which runs counter to federal law that says no living president may appear on US currency -- has been criticized by his Democratic opponents.

But Trump has pressed ahead with other deeply controversial designs as well, including one bearing Trump's face on a $1 coin that would be temporarily added to circulating currency, and which would also celebrate the nation's 250th birthday.