No!  Coin burning is actually called proof of burn. Proof of burn is a protocol used by various altcoins to reduce the current available supply, whereby a specific portion of coins in circulation is sent to a wallet no one has access to (This is mainly used in ICOs). This  eliminates these coins from being spendable, although they will remain to be a part of all of the existing coins ever to be generated. Proof of Burn transactions are also recorded on that cryptocurrency’s blockchain, providing  proof that the coins would never be used to transact again.