One of the big challenges in designing such a coupler is getting enough weld bead length to have enough Factor of Safety. Minimum is 2:1 and I wouldn't want one that low. I am not a fan of putting simple butt-welds in tension. Wrap it, fish-plate it, do something but don't leave it like that! I also find welding on nuts & bolts to be abhorrent when they are structural. There are times when there's no other simple choice, but to start out with that as a basic part of the design is poor practice.
Found the rotating lunette pic. Note that those seemingly small bolts are 9/16" G8's. Nuts are prevailing torque lock-nuts Lock-tited and torqued.
[EDIT] Those "Washers" stacked up on either side of the 1/2" plate are bronze thrust washers, steel heavy washers, and a stout Belleville spring. The lunette will rotate. I need about 2' of leverage to make it move. The 2" X .250" wall tongue tube does not appreciably twist when I do this, not even when at full extension.[/EDIT]