The trillion-dollar coin was proposed as a way to bypass any necessity for the United States Congress to raise the country's borrowing limit, through the minting of very high-value platinum coins.
The concept gained more mainstream attention by late 2012 during the debates over the United States fiscal cliff negotiations and renewed debt-ceiling discussions. After reaching the headlines during the week of January 7, 2013, use of the trillion-dollar coin concept was ultimately rejected by the Federal Reserve and the Treasury.
With the recent issues at major banks like SVB and our ever-growing debt crisis here in the US, it poses the question. Should we actually consider minting a trillion dollar coin?
