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Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping

Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping

Old Jun 17, 11, 2:01 pm
  #15106  
 
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Originally Posted by XStAnt View Post
Funny, the TD Banks near me take them rolled. At one branch the teller just counts the rolls to make sure I had the right amount on the deposit slip. At another branch the teller didn't even count the rolls. He actually kept them in the boxes in which the mint sends them.
I don't use TD, but have been to numerous Wachovias, Sovereigns, and a small (5 branch) local bank where I have an account. They usually pull one or two rolls out of the box to see what they are, then count the rolls and verifiy the total against my slip. They always use an adding machine and attach the slip of results to my deposit slip. I'm guessing this is an auditing requirement by their bean counters.
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Old Jun 17, 11, 2:04 pm
  #15107  
 
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Originally Posted by mshah View Post
+1...and 2 out of 3 time I was short (one was >$10)...Never stepped in TD with counting machine after that...
My mom went to the local TDBank to try to change 2-4 rolls of $ coins to paper. They wanted to charger her 6%! As she was walking out they asked her if she wanted to open an account...

Last edited by MojaveJack; Jun 17, 11 at 2:45 pm
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Old Jun 17, 11, 2:10 pm
  #15108  
 
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Originally Posted by veiwtifuljoe View Post
I saw this coin scheme on Reddit and decided signing up to FT might be a good idea. I'm a lowly college student who is trying to get abroad cheap! I don't have any rewards card yet. What would be a good card to start racking up miles and buy some of these coins? I want to get to Europe so badly
:-:

Do you have a favorite airline? Consider their card.

Where are you located? If you have an airline/airlines whose hub(s) are nearby consider them if they are not the same as your favorite. The convenience of having more direct flights available and not having to make a connection may be worth it.

Welcome to the club.

Last edited by MojaveJack; Jun 17, 11 at 2:47 pm
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Old Jun 17, 11, 2:14 pm
  #15109  
 
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Originally Posted by goingaway View Post
just a word of caution ... Be responsible with the credit card if you get one.

Keep in mind that many who participate regularly on this thread are financially stable and able to "play" and cover problems or take risks, as needed. There are definite advantages to participating in the game, but don't go overboard or be irresponsible. You'll pay for it later and it won't be fun as someone just starting out. Many employers now look at your credit rating to measure your personal and fiscal responsibility, if you mess that up, your career can be dead before it ever started.

Otoh, enjoy what you reap from this and other schemes mentioned on ft and elsewhere.
@:-)@:-)@:-)@:-)@:-) EXCELLENt ADVICe! :-::-::-::-::-:

Last edited by MojaveJack; Jun 17, 11 at 2:50 pm
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Old Jun 17, 11, 2:14 pm
  #15110  
 
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Originally Posted by MojaveJack View Post
My mom went to the local TDBank to try to change coins to paper. They wanted to charger her 6%
Headaches dont come for free
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Old Jun 17, 11, 2:17 pm
  #15111  
 
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AMEX and Chase do not like to see Mint purchases once they have a need to review your account for excessive or suspicious spending patterns. That said, buying 1k here and there should not on its own cause them to need to review an account.

Last edited by Alcibiades; Jun 17, 11 at 2:30 pm
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Old Jun 17, 11, 2:32 pm
  #15112  
 
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Originally Posted by Tronic View Post
Just called my bank (a credit union) and asked about depositing the coins and they said they must be unrolled and that if deposited via a teller it would be a 5% fee but if I was willing to use the coin counter it would be 1% which doesn't seem like much but its basically like paying $500 for a reward ticket that costs 50k miles so that's out.

I'm gonna call around and see but which chain do you guys think I'll have the best luck with? Yes, I know that they've all been talked about in this thread individually but after reading the last 100 pages it's just the same thing repeated.

These are the national chains I have in my area:
Wells Fargo
Capital One
Comerica
BofA
Chase
Citibank
BBVA Compass
+ a handful of regional/state banks

I know it varies by branch but who should I try first for overall acceptance?
Smaller banks seem to be more accommodating and have better customer service so I'd start there.

If your cc is payable thru a local branch, see about paying the cc with coins.
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Old Jun 17, 11, 2:43 pm
  #15113  
 
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Of course when Christian Gerhartsreiter (aka Clark Rockefeller) used his AMEX account, opened while he was using the social security number of David Berkowitz, the Son of Sam Killer, AMEX saw nothing excessive or suspicious.

But then Mr. Gerhartsreiter didn't buy coins or gift cards. Why do that when you can get all the money you need to travel murdering people? Mr. Gerhartsreiter never received an AMEX financial review, to my knowledge - no excessive or suspicious spending patterns.

Originally Posted by Alcibiades View Post
AMEX and Chase do not like to see Mint purchases once they have a need to review your account for excessive or suspicious spending patterns. That said, buying 1k here and there should not cause a problem.

Last edited by AlohaDaveKennedy; Jun 17, 11 at 7:52 pm
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Old Jun 17, 11, 2:56 pm
  #15114  
 
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Originally Posted by thegasguru View Post
The very first post has a link to the FAQ. The FAQ thread is entitled:
"US Mint Dollar Coin FAQ, Please read before posting in the coin thread"

http://www.flyertalk.com/forum/miles...in-thread.html
Correct everything he asked was either in the 1st post or in the FAQ.
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Old Jun 17, 11, 3:03 pm
  #15115  
 
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Originally Posted by Happy View Post
Typical noob behavior!

Everyone tries this by trial and error in actually bringing in the coins for deposit.

There is NO Bank Policy but Branch Policy. Different town has different situation as well. Even same bank different branches with 1 to 2 miles apart would have a totally different attitude.

Please do yourself and the thread members a favor by actually going to the branches of your choice and find it out which one is friendly and which one is not.
Why would it be a noon move to ask who is having luck with which banks? I already stated that I realize it is a by branch sort of thing. It would be kind of stupid to open an account at each bank, try to deposit the coins and then close it if I didn't like their fees or policies.
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Old Jun 17, 11, 3:06 pm
  #15116  
 
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Originally Posted by Alcibiades View Post
Originally Posted by MojaveJack View Post
My mom went to the local TDBank to try to change coins to paper. They wanted to charger her 6%


Headaches dont come for free
Headaches? It's not like she was rolling in with a handcart and $10K in coins. She then went to Chase across the street and had NO PROBLEMS. ^

The problem is that some banks just want to make money, they don't want to provide customer service.

As long as people don't care about lack of service and continue to use those banks, they'll stay in business unless some exec makes some stupid decision and puts them into a financial crisis. But if the bank is big enough the FED will step in and bail them out at tax payer expense. What a racket.
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Old Jun 17, 11, 3:13 pm
  #15117  
 
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Originally Posted by Tronic View Post
Why would it be a noon move to ask who is having luck with which banks? I already stated that I realize it is a by branch sort of thing. It would be kind of stupid to open an account at each bank, try to deposit the coins and then close it if I didn't like their fees or policies.
YMMV...Duh.

Considering this, how do you expect people to tell you which banks work if they don't know where you are?

It should be obvious by now, the key is to open accounts with banks you intend to do business with, then find the local branches of those banks that will accommodate you.

You may find folk reluctant to tell you which specific branches they have had success with. After all, your going to that branch may prove to be the straw that broke the camels back!
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Old Jun 17, 11, 3:25 pm
  #15118  
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Originally Posted by Tronic View Post
Why would it be a noon move to ask who is having luck with which banks? I already stated that I realize it is a by branch sort of thing. It would be kind of stupid to open an account at each bank, try to deposit the coins and then close it if I didn't like their fees or policies.
Honestly, for some people coins is just the wrong game to play. Think on that, read the FAQ and other links from the FIRST POST of this thread, and then decide your next move but yes - your question is pure noob as the other guy said and yes, I would prefer you not be using any branch or bank I frequent at this point. YMMV!
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Old Jun 17, 11, 3:26 pm
  #15119  
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Originally Posted by MojaveJack View Post
Headaches? It's not like she was rolling in with a handcart and $10K in coins. She then went to Chase across the street and had NO PROBLEMS. ^

The problem is that some banks just want to make money, they don't want to provide customer service.

As long as people don't care about lack of service and continue to use those banks, they'll stay in business unless some exec makes some stupid decision and puts them into a financial crisis. But if the bank is big enough the FED will step in and bail them out at tax payer expense. What a racket.
While I think 6% is excessive for a fee, I don't have a problem with a bank charging a non customer a fee or refusing the service at all.

It isn't fair for the banks customers to wait in line while a teller is spending time on a non-customer. Most banks charge to cash checks for their non customers, IF they will do it at all.

If go into my bank and deposit $1,000 in coins all they will do at RBS is just count the number of rolls and credit my account. If there happens to be a shortage, they can debit my account. Would be the same if I asked for paper currency, if they find out I had a different amount, they could debit or credit my account for the difference.
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Old Jun 17, 11, 3:39 pm
  #15120  
 
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Originally Posted by MojaveJack View Post
My mom went to the local TDBank to try to change 2-4 rolls of $ coins to paper. They wanted to charger her 6%! As she was walking out they asked her if she wanted to open an account...
I think this was previously discussed... but TD charges 6% for non-customers to use the Penny Arcade. It is free for customers of the bank. I am not sure when this started, but in the New York Metro area, it has been the policy for at least the last 3-4 months. There are signs on all the machines that disclose the fee.
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