Why would anyone just deposit them? It is so easy to go around to various stores and say I would like to swap a roll for $25.00. Some stores ask for more rolls. I put them in my business in place of dollar bills. Use them for tips. Use them everywhere that does not accept credit cards. I went through a thousand dollars worth in less than three weeks.
From September.
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Now I do not really want the banks to stop allowing deposits. But I also don't see any point in continually pointing out that all a poster is doing is ordering large quantities and then depositing them. Even worse, one poster actually put photos on his post. I don't know how the OP did that, but come on. This is purely flaunting it. Don't kill the GOOSE!
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Originally Posted by EasternTraveler
Not a chance of that. There are so many ways to use them. One of my favorites is selling them to restaurants to use a change. Oh how they love them. I can't get enough..
How do you sell them to the restaurants? Do you make a profit too?
Sometimes the Mint does things right....then there is the rest of the time.
Ordered 20 NA 3-24-09
Received 10 NA 4-8-09 and they used one tracking number.
Received 10 NA 4-20-09 and the 2nd tracking number never was displayed on the US Mint site, but was given to me by CSR and it showed up on UPS. UPS showed 1.0 lb and the box is marked 46 lbs, which probably shows they're using a contract rate.
An order for $500 Andrew Jackson placed 3/11/09 was shipped today. We'll see when and how it comes.
Now I do not really want the banks to stop allowing deposits. But I also don't see any point in continually pointing out that all a poster is doing is ordering large quantities and then depositing them. Even worse, one poster actually put photos on his post. I don't know how the OP did that, but come on. This is purely flaunting it. Don't kill the GOOSE!
Well obviously you proved quite a few people wrong on this thread. I don't know if you're doing it to show off or what but anyway... people are going to do what they want to. Just like in life, some will show off and others don't. Though I think you're almost bunching us all into a group of this poster. We're not all like that.
I come here to learn and try to not get into any drama. There are a lot of other forums that maybe you can tell off because they're doing it for other reasons. I find this forum a bit more moderated than other forums. Most people here have been helpful to me. Other deals have died because some people like to take advantage. Now I'm not saying that this is going to happen with the US Mint, but if it happens, it does. It could be because of that poster you're talking about or it may because of another reason that we may not know.
And please, tell us how you sell it to restaurants.
i think we can objectively say that FT is not going to kill this "golden goose." there is ENORMOUS demand for these coins from the general public, in much the same way as there was for the state quarters (which the mint had trouble getting into circulation because so many people were hoarding them). a few hundred, or even a few thousand, FTers is not going to dent a US mint policy that is achieving its goal of getting the coins into circulation.
the high demand also explains the problems people are having with getting orders processed and shipped. FT, fatwallet, slickdeals, and the like are almost certainly a very small minority of the public seeking these coins.
what would probably be helpful to everyone reading this topic is a listing of banks (and particular branches) that are making it difficult to deposit rolled coins.
Can we exchange workable ideas to bring more coins into circulation?
I personally would love to see more $1 coins being used - but on the other hand - ordering directly from the mint is an exercise in earning miles - so the additional uses of coins should ideally be where one could not / cannot use mileage earning credit card.
Exchanging coins for bills with small businesses is acceptable - I don't know how to go about doing it though - will they "trust" simply walking in and offering to exchange?
I had an interesting encounter the other day - I had gone to an ethnic grocery store - I gave a $25 roll and the lady said she will simply deposit in bank rather than using it to give as change to other customers.
So how would you go about spending / exchanging your $ coins?
So far there has not been a charge. I am assuming the shipment yesterday is the additional $2500 adn I will be charged the total $5000 shortly. Of course the tracking number I have still shows the old delivery.
It's a waiting game now but I feel better about it now. Last night I was a bit worried.
Another package arrived with the $2500 that I was missing. I think the tracking is being assigned to only one of the packages though there was more than a week between shipping dates.
I still have not been charged but expect it to show up in te next week or so.
Well obviously you proved quite a few people wrong on this thread. I don't know if you're doing it to show off or what but anyway... people are going to do what they want to. Just like in life, some will show off and others don't. Though I think you're almost bunching us all into a group of this poster. We're not all like that.
I come here to learn and try to not get into any drama. There are a lot of other forums that maybe you can tell off because they're doing it for other reasons. I find this forum a bit more moderated than other forums. Most people here have been helpful to me. Other deals have died because some people like to take advantage. Now I'm not saying that this is going to happen with the US Mint, but if it happens, it does. It could be because of that poster you're talking about or it may because of another reason that we may not know.
And please, tell us how you sell it to restaurants.
It is good to be on track. I don't think that we are all in the same boat. I do not for a minute think I am the only one that does not deposit. To all of you that look for ways to use them or creative methods of depositing without just walking into a bank with a lot of coins, my hat is off to you.
I do not make a profit. And selling them may be a bad word to use. I exchange them for $20's or $50's or $100's if they have them and then do the deed.
I use them everywhere that they do not take credit cards.
I have stopped mailing checks to local businesses that I have to pay, the ones that don't take cc.
I have stopped paying the utilities with billpay.
With those few methods I can use more than I can receive with my current program. If it were not for DL AX CC c/l I would have a delivery every day.
Happy coin games guys YMMV
__________________
God is good all the time!
Are you a good ambassador!
i think we can objectively say that FT is not going to kill this "golden goose." there is ENORMOUS demand for these coins from the general public, in much the same way as there was for the state quarters (which the mint had trouble getting into circulation because so many people were hoarding them). a few hundred, or even a few thousand, FTers is not going to dent a US mint policy that is achieving its goal of getting the coins into circulation.
the high demand also explains the problems people are having with getting orders processed and shipped. FT, fatwallet, slickdeals, and the like are almost certainly a very small minority of the public seeking these coins.
what would probably be helpful to everyone reading this topic is a listing of banks (and particular branches) that are making it difficult to deposit rolled coins.
Please cite factual basis for your assertion of "enormous demand"
I can't support the "enormous demand" comment, but I talked with the vault teller at one my banks and she said they got quite a few requests for dollar coins. The more interesting comment was, they have an order form from the local Fed. reserve bank where they get their coins from and it does not list all of the coins available that we see at the Mint. She was really surprised at the NA coins as she hadn't seen any of them. So for those who do take them to the bank, you may be providing your bank a service. Please don't add this to the pro or con discussion of those who buy and deposit, everyone has their own opinion about that matter.
I do not make a profit. And selling them may be a bad word to use. I exchange them for $20's or $50's or $100's if they have them and then do the deed.
I was thinking of taking them to my local cvs. i saw someone ask for $100 change in quarters........ nonetheless CVS didn't have it.
