Is minting a $1 trillion platinum coin the answer to the debt limit crisis?

The last-minute minting of a platinum coin valued at $1 trillion has been proposed as a solution to the debt ceiling crisis.

Could a $1 trillion platinum coin be the solution to the U.S. government's debt limit crisis?

Before reaching a short-term deal to end a standoff and avert a U.S. default, some senators and other proponents renewed talk of the improbable idea.

The U.S. government was set to run out of money to pay its bills, including salaries of federal employees and to pay Social Security benefits, which the White House and experts say would have had grave economic effects and could trigger a recession.

Legislation enacted in 2001 allows the treasury to mint platinum coins of any value without congressional approval. Under that law, the coin's value could be anything, but it would have to be platinum, not gold or silver, nickel, bronze or copper, which are under Congress' control.