Go Back  FlyerTalk Forums > Miles&Points > Credit, Debit and Prepaid Card Programs > Manufactured Spending
Reload this Page >

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

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

Old Jul 13, 11, 10:14 am
  #15721  
 
Join Date: Jul 2010
Programs: AmexPlat,SPG,CitiAA,One pass,
Posts: 397
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..
Vacation time is offline  
Old Jul 13, 11, 10:19 am
  #15722  
 
Join Date: Jul 2000
Location: BOS, SEA
Programs: AA Lifetime Gold, DL Gold, LP ex-Millionaire!
Posts: 565
Originally Posted by rbwpi View Post
I doubt it. He's probably living in federally subsidized housing, whether it be public housing or Section 8.
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)?
stephlac is offline  
Old Jul 13, 11, 10:30 am
  #15723  
FlyerTalk Evangelist
 
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,039
Originally Posted by QL_714 View Post
Call it what you want, exploiting, scamming or taking advantage of. We all know what is going on and to pretend to make it something it is not just makes that person look silly.
so should we now 'fess up' to all our past wrong doings here preacher and give back our miles?
Marathon Man is offline  
Old Jul 13, 11, 10:41 am
  #15724  
 
Join Date: Dec 2010
Posts: 1,302
lol @ the article referring to the buyers as "hackers"
Jesperss is offline  
Old Jul 13, 11, 10:41 am
  #15725  
 
Join Date: Jul 2009
Posts: 344
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."
Aitchly is offline  
Old Jul 13, 11, 10:41 am
  #15726  
 
Join Date: Aug 2008
Location: PDX
Programs: DL, UA, AA, BA, AS, SPG, MR, IHG, PC
Posts: 854
Originally Posted by stephlac View Post
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)?
Apparently you don't appreciate a little sarcasim now and then.
rbwpi is offline  
Old Jul 13, 11, 10:47 am
  #15727  
FlyerTalk Evangelist
 
Join Date: Nov 2002
Location: BOS, MHT
Programs: AA ltg, B6, DL, UA, AS, SPG/Marriott Plt, HH, Hyatt
Posts: 10,039
Originally Posted by jamesteroh View Post
GREAT post. Providing we are using our own credit cards and not stolen ones, nothing illegal or unethical is being done here.

The mint choses to provide free shipping on coins for sale, we chose to buy them. On my flight out to Vegas Friday, my upgrade to first cleared on a "U" fare on Delta. Am I exploiting Delta by flying in First class when I bought the second to the chepest airfare out there? In Vegas, I like to stay to stay at the LV Hilton because it ends up basically being a free stay with the perks they give their elite members. Am I exploiting Hilton by taking a free breakfast and free wifi? Am I exploiting Am Ex by accepting Delta Miles and Hilton points?

Is the writer from NPR exploiting the US government when he deducts the mortgage interest he pays along with the other deductions on his schedule A?
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?
Marathon Man is offline  
Old Jul 13, 11, 11:13 am
  #15728  
 
Join Date: Jul 2000
Location: BOS, SEA
Programs: AA Lifetime Gold, DL Gold, LP ex-Millionaire!
Posts: 565
Originally Posted by rbwpi View Post
Apparently you don't appreciate a little sarcasim now and then.
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.
stephlac is offline  
Old Jul 13, 11, 11:22 am
  #15729  
 
Join Date: Mar 2005
Programs: AA 1MM Gold, SPG Plat, Hilton Diamond,
Posts: 183
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.
montreid is offline  
Old Jul 13, 11, 11:26 am
  #15730  
 
Join Date: Feb 2009
Posts: 3,562
Originally Posted by Marathon Man View Post
No, the writer(s) and NPR researchers and NPR itself exploited us
You only aided their efforts by emailing them and talking to them on the phone

Guess some people are starved for attention.
Astrophsx is offline  
Old Jul 13, 11, 12:08 pm
  #15731  
 
Join Date: Apr 2003
Location: United States
Programs: UA, AA, DL, Amtrak
Posts: 4,647
Originally Posted by Marathon Man View Post
We lose money if this makes the coin scene go belly up.
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.
fairviewroad is offline  
Old Jul 13, 11, 12:44 pm
  #15732  
 
Join Date: Aug 2001
Location: SF Bay Area
Programs: AA EXP, UA*G MM, HH Dia, Hyatt Expl, MR Gold, IHG Plat
Posts: 4,344
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....
Explore is offline  
Old Jul 13, 11, 12:48 pm
  #15733  
 
Join Date: May 2010
Posts: 2,996
Originally Posted by Explore View Post
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....
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.
Stoughton is offline  
Old Jul 13, 11, 1:08 pm
  #15734  
 
Join Date: Aug 2001
Location: ATL/MDW/ORD
Programs: AA Gold
Posts: 590
Originally Posted by montreid View Post
I bet there are A LOT of NPR fans on this forum, including myself.
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.
yorock is offline  
Old Jul 13, 11, 1:11 pm
  #15735  
 
Join Date: Dec 2010
Posts: 1,302
Originally Posted by Marathon Man View Post
We lose money if this makes the coin scene go belly up.
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.

Last edited by Jesperss; Jul 13, 11 at 1:33 pm
Jesperss is offline  

Thread Tools
Search this Thread
Search Engine: