King has been on trial with Stanley during pre-season and impressed sufficiently to be offered a six-month contract by the League Two club.
Reports suggested King had rejected the contract, but Coleman insists the deal is not dead.
He told Press Association Sport: "At the moment there is nothing to report on that one, but he is still a player we are interested in.
"He has impressed since he came here."
Coleman has already added Luke Joyce and Michael Symes to his squad this summer and goalkeeper Alan Martin also joined Stanley on a six-month loan deal from Leeds.