The trillion-dollar coin is a concept that emerged during the United States debt-ceiling crisis of 2011 as a proposed 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.
Trillion-dollar coin concept design by artist DonkeyHotey
2011 United States debt-ceiling crisis
In 2011, ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit reached a crisis centered on raising the debt ceiling, leading to the passage of the Budget Control Act of 2011.
President Barack Obama met with Speaker of the House John Boehner on the patio near the Oval Office on Sunday, July 3, 2011, during the debt ceiling increase negotiations.
President Barack Obama makes a statement in the Brady Press Briefing Room at the White House announcing a deal that resolved the US debt ceiling crisis. July 31, 2011.