Vacation time

EXPLOIT.... Such harsh words used.... I am one who does not use coin program very often and find nothing wrong with how it is being used. We buy item for X amount of money we have the right to do what every we want with it. If the program is so bad then raise the prices to make up for losses, the problem is they need the flyer community to help get rid of the coins so they won't make any charges.

We work within our right.... this reporter should write articles on more important things like the united states economy and how its being run. How much money did the government waste on making these coins that nobody wants she should figure that out and write how the money could be better spent..

stephlac

Oh for Pete's sake. Don't you realize you undermine your own argument (whatever it happens to be) by slinging such baseless allegations?

Not to mention insulting anyone who happens to be "exploiting" federal housing assistance (I'm sure for their own nefarious purposes)?

Marathon Man

so should we now 'fess up' to all our past wrong doings here preacher and give back our miles?

Jesperss

lol @ the article referring to the buyers as "hackers"

Aitchly

And the program/scheme received a shout out on Freakonomics

http://www.freakonomics.com/2011/07/...es-bon-voyage/

Note the last sentence:
"While the U.S. Mint is a bit miffed by the scheme, a spokesman admits that there’s nothing illegal about it."

rbwpi

Apparently you don't appreciate a little sarcasim now and then.

Marathon Man

No, the writer(s) and NPR researchers and NPR itself exploited us, this forum and its owners by extracting information from this and other threads to form an opinion and then accuse us all of something close to scamming.

They made money off their reporting efforts. We lose money if this makes the coin scene go belly up.

This is perhaps where a bunch of we angry villagers should consider approaching the NPR castle with pitchforks in hand, eh?

stephlac

Well you got me rbwpi. I definitely got caught up in the NPR-bashing that was going on.

Back on topic, I really do fail to see how the mint benefits from frequent flyers cycling coins in and out (or rather out and in), as some here seem to believe.

To my mind an important point of the NPR story was that no one wants the dollar coins. And this program isn't helping with that and is costing the taxpayers to subsidize the shipping.

That said, it's certainly not illegal or really even unethical. But we shouldn't be surprised if (when) they change an unsuccessful program.

montreid

I bet there are A LOT of NPR fans on this forum, including myself.

Last week when the original piece aired, I was thinking 'I KNOW a follow up is going to come up regarding FT'....well it did.

It's unfortunate that they didn't take a more balanced view, like in typical American fashion, taking advantage of a loophole in the system, approach.

NPR does have a thread of moral code, eg: interview with ex-ESPN reporter who actually clapped in the pressroom and defended his action that's a bit dated and extreme. But overall NPR does have a good record and as balanced as any other news organization out there.....It's certainly no Fox "News".

And I view myself is quite a conservative (though socially progressive) saying this.

Suggestion: instead of raving on about the unfairness here, hit NPRs site and feedback. They air these responses and if the FT community takes exception on our representation, we should let NPR know on THEIR website to be more fair and balanced than they were on this piece.

Disclosure: I deposited my $1000 coins yesterday and the bank was more than happy to take them.

Astrophsx

You only aided their efforts by emailing them and talking to them on the phone

Guess some people are starved for attention.

fairviewroad

Lose money? Uh. Are you sure about that?

You may be losing out on an opportunity, but you would most certainly not be losing actual money. Any money/miles you have at the time the program goes "belly up" would still be yours.

Explore

It's going to take some time for Congress to adjust the program. But the credit card companies could start treating these purchases as cash equivalent transactions tomorrow. Hope it doesn't happen, but the visibility's been raised....

Stoughton

Why would they? Right now they make a % off every purchase, and then the interest if someone is foolish with the coins. If they change it to a CA, sales will go to 0 and they lose that revenue stream.

This is a GREAT program for the CC companies.

yorock

You can count me as one. If you don't like how they presented a story, fine, let them know. But overall their reporting is as in-depth as it gets for daily news broadcasts.

Jesperss

Go take a break man. Count to ten, have a drink. Turn your computer off. Weren't you the person that spoke to the woman on the phone and wrote emails to her?

We're not losing a cent if the "coin scene goes belly up". It's a bonus and that's it.