Your argument has an inherrant FLAW - that is you EXTRAPOLATE the effort/return into your wage calculation.
For the starter, a person does NOT work 100% of his free time. There always some down time and goof-around time, nothing is more evident than posting on FT!
Such down time can certain be diverted a few minutes at a time to do this Mint thing and other stuff found on FT or elsewhere whichever suits each individual's need.
Like another poster said, there are many other things involved far greater risk - the recent stock market could not be more telling on this, regarding easy loss of money. (No, please dont start another argument about investment.)
Finally, you really should not put down on JudyFLA's post - for the rare case here, they actually HELP to circulate the coins by giving the coins as changes in the store they run! They are doing the part of the original intent by the Mint. You totally miss that part. At the same time, what is wrong for JudyFLA also reaps some benefits that are meaningful to her, though obviously seem worthless to you, but you should not impose your standard upon others, really.
Quote:
Originally Posted by mooper
Many people believing something is worthwhile doesn't mean it is worthwhile. You are apparently on the efficient end of the spectrum, where (by your own words) you spend three minutes ordering each time and expend very little additional time gathering your package and depositing (let's assume another three minutes there). For six minutes of effort, you are achieving (at 2 CPM) $10 of value, or $100/hour. Not too bad, though its a "job" you aren't allowed to work many hours. Of course, I'm ignoring the fact that there is a substantial risk of an order or delivery problem (as evidenced clearly by this thread). Maybe you haven't had a problem, but there is certainly a noteworthy risk of one. When it strikes, it takes more time. What about the people (probably the majority) who take 20 minutes to order, track, and deposit? They are earning only $30/hour, and still taking on the same additional risks. At the bottom of the pile are the people who actually spend 30 minutes or more on each order... checking on its tracking, driving to the bank, or dealing with problems. That's where it borders on craziness.
I'm not telling anyone what to do, but I'm certainly trying to point out that there are a lot of people (not everyone) who are not thinking through their decision from an accurate cost/benefit angle.
Perhaps you can find another thread to insult FTers' intelligence?
I have not insulted anyone, nor is that my goal. I have attacked the logic of spending time for such a meager (in some cases, not all) return.
Quote:
Originally Posted by ChaseTheMiles
Thank you for your cost/benefit analysis. So you probably make over $$/hr hour and this would surely be a waste of time for you. But everyone has a different reason for buying or not buying the coins. Have you really not bought any coins at all?
I have not purchased these coins because I determined that my time is worth more than the minimal return. I do churn cards and achieve thresholds for other purposes, but I have alternative methods of doing this that are more efficient. I do not desire the coins for novelty or collective purposes.
{Referral to now deleted posting removed by moderator}
Quote:
Originally Posted by Happy
Your argument has an inherrant FLAW - that is you EXTRAPOLATE the effort/return into your wage calculation. For the starter, a person does NOT work 100% of his free time. There always some down time and goof-around time, nothing is more evident than posting on FT! Such down time can certain be diverted a few minutes at a time to do this Mint thing and other stuff found on FT or elsewhere whichever suits each individual's need. Like another poster said, there are many other things involved far greater risk - the recent stock market could not be more telling on this, regarding easy loss of money. (No, please dont start another argument about investment.) Finally, you really should not put down on JudyFLA's post - for the rare case here, they actually HELP to circulate the coins by giving the coins as changes in the store they run! They are doing the part of the original intent by the Mint. You totally miss that part. At the same time, what is wrong for JudyFLA also reaps some benefits that are meaningful to her, though obviously seem worthless to you, but you should not impose your standard upon others, really.
This is incorrect. You are simply arguing that the time used for the coin efforts is not valuable because it is "free time", which has no bearing on my analysis. All I am pointing out is what the quantity of time spent yields in return. The calculation of whether this return exceeds the value of the time being spent is an individual one, but not dismissed by the fact that some people have "free time" they don't care as much about losing.
I did not knock JudyFLA for the novelty aspect, nor is it my intention to knock her at all. I stated several times that I am not challenging the notion of ordering for collector novelty nor several other purposes. I am challenging only the logic of ordering small batches *solely* for the rewards value (and absent other objectives), given the time and risk involved.
I did not knock JudyFLA for the novelty aspect, nor is it my intention to knock her at all. I stated several times that I am not challenging the notion of ordering for collector novelty nor several other purposes. I am challenging only the logic of ordering small batches *solely* for the rewards value (and absent other objectives), given the time and risk involved.
Ironically, that probably is not the goal for most doing such - it just comes as a nice side benefit.
Really, a $250 box of coins has no greater risk of a $250 merchandise that is lost in delivery. Only that because it is ready cash that makes the perceived risk shoot up. The Mint does have procedures in place in case a shipment has been lost. Before I started doing it, I studied the 2 or 3 posters posts about their experiences on the lost shipments and talked to 2 of them via PMs. All ended well after all once the proper procedures are followed.
IMO, the risk involving funding a Citi bank account with a credit card is far more riskier than ordering the coins. There is no guarantee the funding is coded purchase for example. There is also the timing issue - that one may have very little time left to pay back the credit card while the "funding" is sitting at the newly bank account... Too many steps in the chain of events could go wrong in the Bank Account funding scheme then the plain ordering of coins.
I have not purchased these coins because I determined that my time is worth more than the minimal return. I do churn cards and achieve thresholds for other purposes, but I have alternative methods of doing this that are more efficient. I do not desire the coins for novelty or collective purposes.
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I bought them and spend them or give them as gifts. I get points and I get cash which comes delivered to my door. OTOH, you risk getting robbed at the ATM.
Additionally, I'm doing a public service by using these things. It may well be in vain, but someone has to be ahead of his time. If we eliminate the penny and the dollar bill, we'll have made some progress.
I hope the churners get so many of them in the banks that the banks figure out to push them to customers. Seems like they're too lazy to do so. People seem to think they're a rarity because the system doesn't work to inform them they're just money.
Last edited by IcHot; Feb 18, 09 at 2:19 pm.
Reason: grammar
In stating that 1500 replies are from people who enjoy this offer, you are implying that I will have trouble convincing them otherwise because they believe it to be worthwhile.
This is correct.
Quote:
Originally Posted by mooper
Following, I am stating that the simple fact that many people believe something to be worthwhile has no bearing on whether it is worthwhile, and therefore your implication is untrue if I can show that it is not worthwhile.
And this is incorrect.
This is where you are creating your own implication on what I said. There was nothing I said that implied that the fact that many people believe something to be worthwhile makes it worthwhile. Please show in anything I wrote where that argument was made, or even implied.
This is not a debating society. Off topic discussions about buying motivations and the like, do not add to the experience. Removal of unacceptable posts will be swift.
This thread has been open for over eight months. Why trash it now?
__________________ Moderator2 ("a.k.a. "Craig6z") - MilesBuzz and TalkBoard Topics Moderator
has anyone tried to straight up exchange the coins for cash? like a retail place...give them 20 coins and you'll get a 20 bill back? this seems like a good way to get rid of the coins and get hard cash back in exchange. i'm guessing someone here has tried this. you will get these coins circulating as they're suppose to do while you get the money back to pay off your bill? less questions asked if you're depositing cash. of course...it would be a hassle.
anyone have any idea how long the site to track orders will be closed for? it says its only temporary, but i havent been able to check my order for 2 weeks
Programs: AA PLT, Delta, *wood Gold, Hyatt Diamond
Posts: 180
Funny how different people's experiences are at banks. I brought a box in to my local BofA and they were thrilled. "Thank you so much for bringing these in! People have been coming in and asking for them. Do you collect them?" "errr. sort of"
You can call the 1-800 number to track. However I believe their whole data base is pretty much messed up for whatever reasons, as evidenced by the shipping method showing on the shipping doc is totally wrong versus the actual shipping method is being used. FedEx kept showing up but FedEx is never the shipper, not even in the capacity as UPS to USPS type of shipping.
I have one $250 order that was placed a week ago and the phone message said "still in process".
Programs: AA, Delta, NWA, UA & thanks to FT for my HHonors Gold!
Posts: 3,330
Quote:
Originally Posted by Wilbur
Order to door on the Native Americans was three business days to Arizona, via UPS.
That fast?
Was your order $250 or 20 boxes? When did you place the order? I believe these are two things to be factored in.
My 1st order of $500 in late January took 8 business days from order to door. The Mint CSR told me a couple of things when I called in to track the status:
1. Any order over $300 will be shipped UPS next day air.
2. Orders larger than $300 need to go through two extra steps (or more) to verify the info (names, CC, mailing addresses, ..etc). That's why it usually takes 1-2 weeks to "process" an order.
3. The "internal" order status will changed to "picked" when the verification is completed and the coins are actually picked to fulfill your orders.
4. Once the order is picked, it will be shipped in the next couple of days.
In my $500 example, my order was picked on a Friday; the Mint shipping notice/email sent on the following Tuesday. UPS received the package on Wed then delivered on Thursday morning.
I am now waiting for two more orders to be processed.
