Coleman was cut loose by Carolina on Monday, a move that will save the Panthers $5.25 million on their salary cap in advance of free agency.
Saints coach Sean Payton was part of the contingent that met with Coleman, according to the Times-Picayune of New Orleans.
Coleman, 29, recorded 76 solo tackles and three passes defensed during 12 games last season in his third campaign for the Panthers. According to Pro Football Focus, he was ranked as the 76th-best safety in the NFL.
A sprained knee sidelined Coleman for four games last season. After returning Oct. 29, Coleman made 35 tackles in his final eight games and had one tackle in Carolina's 31-26 loss at New Orleans in the wild-card game.
Coleman initially joined the Panthers on a two-year contract in March 2015. After recording 90 tackles and seven interceptions in 2015, Coleman inked a three-year extension in 2016 and helped the Panthers advance to the Super Bowl.
In 2016, Coleman recorded 95 tackles and four interceptions in 15 games.