NYBanker

Lol.

edbyu

How often do people have success in superseding the $1k in 10 day limit? I have a few large purchases coming up and I'm thinking coins might be nice to pay with.

Marathon Man

lol

Well even though I have also had success, I learned in the beginning that one can never plan around coins/ups/usps/when they ought to arrive. I just hope it worked out for you each time. I am sure it has/will, as you have always had a good handle on how things go round here. Carry on!

********

About banks?

Well, IMO if a bank starts asking questions like the PNC one discussed here, I comply and tell them what I am doing. I ask to sit with a manager in private and discuss at great length all the legalities and how this legitimatizes what we are doing even if it doesn't LOOK 'normal'... I may even put it to them point blank and say: So is it that my deposits don't look right or that you have lazy people here who do not like to handle this valid form of US currency?

While people here must understand there's nothing wrong it the practice, I also do not necessarily say it's just to churn for miles, so I have ways of skirting that, but I might say I am a sometimes acting as a 'consultant in travel related deals' and these coins are related to promotional offers online.

I add that since I do other transactions at this bank (checks, bill pays, direct deposits, ATM, savings, loans or other considerations, long time business, referrals to other people, etc etc) that I naturally thought this was perfectly fine to bring my overages in here.

If they do not like it, I would close my account and leave.

Sounds to me if the bank is willing to have done enough internal research to find out you do this at other branches, then their internal loss prevention department is already about to close your account anyway and they have all but forced your hand to reply to them about it. Smaller banks do that --and I know from experience, although mine was from both coins AND many money order churns, despite other banking activity, not just from coins. In in all cases in all banks I have, I do actually do many NORMAL transactions regularly with my money. I did not know if PNC was like that.

All banks can and possibly do routinely check other branch activity but I have not had the big ones really care about it--yet.

Of course I have to go to my local TD bank today and find out why they have seemingly failed to credit even a pending status on $6k in money orders I handed to a teller on the 28th. Very strange based on what I have done before. I routinely use widely different methods of doing all our mileage games, and I have brought similar MOs to this exact branch--and teller--in the past. I have brought $1-$2k coins in there over time (once I brought a bit more but only once, and I have not brought any in for 3 weeks) and I bill pay from the bank to many cards and businesses all the time.

Today I will be armed with all receipts from the MOs, my deposit slip and one more zinger just in case things go badly...

I will have my 3 year old son in tow... So if it looks like it's more than just some clerical error they can fix in a moment and off we go smiling, then I will whisper in his ear and let him loose. You see, I have this funny feeling the TD world is not liking me any more. I have brought bigger deposits of coins into other branches I would never visit again (such as out of my area)

And so yes, if a bank or any 'customer service' entity is going to mess with me by making me sit there while they peck at their computer and act all superior and NOT even tell me what we all know they are up to for security reasons (even though it is about me, so they should be able to tell me), then I will inconvenience them.

To accomplish this without being a threat in any way, I have been known to let my kids get involved...

Note that a 3 year old--especially a cute one whose very nice and fun, can take apart a lobby of a bank in about 5 casual minutes. Being all funny about it or cute, he could grab brochures, walk into areas he should not go, take stacks of deposit slips, knock over standing signage, unhook those barrier ropes, etc. And well, since this manager has me sitting there inconveniencing ME, then what am I to do? I could even try to stop him but what do you expect a kid to do in a bank if made to be there too long? I'm just a dad trying to get my morning errands done and well, uh um he's never like this um er maybe we should get this done faster so I can be on my way! I mean they COULD make it easy on themselves and just fix it and we leave.

I will report back on this today.

**************

As for any bank that says they love coins and can take any amount, I can only say this:

go ahead and bring them $25k coins in a month's time and see what that branch says then (I suppose I could have stopped at $24k lol)

remphish1

Just like the NPR artical here is from yahoo! Gov must have a billion miles by now! http://news.yahoo.com/blogs/lookout/...194115156.html

MJLouise

LOL about the 3 yr old. When my boys were younger we called them "the twin expediters" when bringing them along on missions like that.

chimmy826

Thanks for the response. For whatever reason, my orders are still not being instantly authorized (even as of this morning). I don't know what the problem is. I'm not a high dollar purchaser so I can't imagine that I've been flagged somehow. I've tried with a different e-mail address. No dice. I guess the only thing left to try is tweak my address or phone number, because at this point it seems as if my orders are not going through.

jamesteroh

I just placed an order on a credit card that was authorized on 6/20 and that transaction wasn't authorized either with Am Ex but my visa one was. I wonder what is up with my am ex orders not being authorized right away.

mikeef

I vote we put together a team of investors and offer to take them off the mint's hands for $700m.

Mike

MsEverywhere

.. and pay them with coins?

MojaveJack

You obviously haven't read the 1K+ pages of this thread as others have suggested!

The coins are M A D E by THE UNITED STATES MINT. ^
The coins are STORED by the FEDERAL RESERVE BANK.

THEY ARE NOT THE SAME.

Many early issues were made in large quantities but recently have "sold out" from the mint.
Most recent issues have NEVER been available via Dollar Direct since the Mint has throttled back on the amount produced so they did not have the overwhelming surplus to dispose of. Others, like Buchanan, only had a small overage and sold out very quickly. Lincoln sold out in less than 2 months.

So they don't need to end the presidential dollar program for the Dollar Direct program to end. If they continue to make smaller quantities as they have been doing, there won't be a surplus to dispose of and there won't be any dollar direct coins.

MojaveJack

I've used several local WFBs and they've always taken them rolled with no problem. :-::-::-::-::-:

thesauce

What does the mint have to with this?

AlohaDaveKennedy

If you want I can give you Cardinal Fang's number and you can ask him (actually him is a her) why all your coin orders are not authorized and mention any discrepancies in your AMEX gift card orders, too. The good Cardinal of The Spanish Inquisition will fix everything for you, even if it is not broken.

Travel K

I saw that too....I guess I am going to have to work harder at circulating my coins...between the churh collection plate, grocery store (don't worry, they only take cash or check!), and garage sales I must not be circulating enough. I am pretty sure all the people at garage sales I give the coins to keep them as a collectable.

On a different coin note....at work, we hit a big safety milestone so we all got a coat. They also gave us a box "with a collector coin." It is a CIRCULATED Andrew Jackson coin!!! I couldn't believe it!! The guys at work know I buy the coins and they all came to me to share a laugh.

AlohaDaveKennedy

No problemo with BoA over here. Been substantially recapitalizing them for quite a while.