No, it's a straightforward legal hack to preserve the "full faith and credit" of the United States in the event that the political party that markets themselves with "fiscal responsibility" kayfabe forgets they've only been acting.

The reality is if the people managing the massive funds that run the stock and bond markets don't think it's different than the government doing what they normally do, then they'll be find.

This loophole keeps getting brought up, so I just wish someone would do it so we get an answer either way.

(If they are smart, they will mint $1m coins, or $500m or $1 billion; some of those would get snapped up by collectors immediately)

If you read the article you'll see they mention that this is only possible with platinum coins. So I think their motivation for using a coin is because it's only possible with a coin.