Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Jul 15, 2011, 9:02 pm
Join Date: Feb 2008
Location: RDU
Programs: AA/Delta/Hilton
Posts: 172
Jul 15, 2011, 9:16 pm
FlyerTalk Evangelist
Join Date: Nov 2002
Location: BOS, MHT
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We're not hackers, but let's not kid ourselves...the loop hole in the dollar coin program is being exploited.
If credit cards stopped giving points out for the coin purchases, would you really keep buying the coins?
How many of the coins are you really spending? The limit is $1000 every ten days. Are you really going through $100 coins/day? That's $3000/month.
It is what it is, let's not herald ourselves to be the great revolutionaries who are doing our part on getting rid of the one dollar bill.
If credit cards stopped giving points out for the coin purchases, would you really keep buying the coins?
How many of the coins are you really spending? The limit is $1000 every ten days. Are you really going through $100 coins/day? That's $3000/month.
It is what it is, let's not herald ourselves to be the great revolutionaries who are doing our part on getting rid of the one dollar bill.
The way I see it--and it has been said:
► Coins are for sale for X price. This, as far as I am concerned, includes that entity's CC % fees, shipping, handling, etc. I dunno, I do not care. If the Mint wants to change that price, that will in fact alter my spending, just as any INCENTIVE TO BUY may alter yours.
► I buy X with my CC.
► CC gives out miles for buying things. And yes, that's EXACTLY why I chose to buy X rather than some other guy's product in MANY cases! (and miles are NOT coming out of the budget of the mint, mind you. They come as a bonus from the CCs. AND if something does not take CCs or the purchase of it does not award miles, I may not get it at the establishment that sells it and will go elsewhere!)
Why, I ax you, Why is it WRONG to do something to get miles--or even JUST to get miles? Why?
Finally, I believe that the Mint changed their online terms to reflect the paragraph we now see about 'intent' because they received pressure from some other party(s). This is all about looks and PR. They allowed and encouraged us to buy large quantity but had to curb or stop it when pressed to do so by others. These news stories have been in the past, and will now be proof of that.
lol
Jul 15, 2011, 9:19 pm
FlyerTalk Evangelist
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...to add to that,
If I were to run a marathon JUST so I could get the free ice cream and beer they give away at the end, would that make me an unethical runner? I mean C'mon. Why does it matter if you are legally paying the entry fee (in the case of buying coins, they set the price and we used our valid CCs to buy them at their publicly posted 'entry fee')?
If I were to run a marathon JUST so I could get the free ice cream and beer they give away at the end, would that make me an unethical runner? I mean C'mon. Why does it matter if you are legally paying the entry fee (in the case of buying coins, they set the price and we used our valid CCs to buy them at their publicly posted 'entry fee')?
Jul 15, 2011, 9:54 pm
Join Date: Nov 1999
Programs: UA, DL, AA, Sutherlands Lumber
Posts: 7,359
Why is the press persecuting us? Why is the US Mint persecuting us? How come this sweet gig is ending?
Hey, enjoy one last dance with the old gal.
Hey, enjoy one last dance with the old gal.
Jul 15, 2011, 9:56 pm
Join Date: Dec 2009
Location: Between EWR & ABE
Programs: OnePass, AAdvantage, SkyMiles, PriorityClub, HHonors
Posts: 401
I went in to one of my local branches that i rotate through yesterday to make a coin deposit. the girl at the bank told me that a few weeks ago when i brought these in before she had a customer come in about 1 hour later and was looking for dollar coins and took them all. So in a way i am helping to put them in circulation, either that or this guy heard the story on npr and thought he might be able to get miles by withdrawing them from his bank and using them.
Sounds like a real S-T-R-E-T-C-H to me. How would you get miles w/o using the milage earning CC? More likely someone who wants to open the rolls and look for errors. There have been several reported and it could be someone wanting to search for these.
Jul 15, 2011, 10:02 pm
FlyerTalk Evangelist
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You actually can if you have an IRS field office near you. I made a property tax payment on a rental property I have in another county last month and I will coin out treasurer on my properties where I live in two weeks. I would gladly pay my property taes via plastic but since the charge a fee, this is one way of using plastic and avoiding the fee.
While I have never tried coining the IRS with an estimate payment, I did pay a state tax estimate earlier this year. The lady was pretty nasty about it. Seeing our governor wants to close the local field offices of the state tax departments to help our budget, I would have thought she would have been glad I made a cash payment as opposed to paying online or mailing in a check. The more people that pay cash in person means the more likely the office will stay open.
While I have never tried coining the IRS with an estimate payment, I did pay a state tax estimate earlier this year. The lady was pretty nasty about it. Seeing our governor wants to close the local field offices of the state tax departments to help our budget, I would have thought she would have been glad I made a cash payment as opposed to paying online or mailing in a check. The more people that pay cash in person means the more likely the office will stay open.
As for IRS, well, a main office is about 35 miles from me. Could easy walk in with boxes lol.
Jul 15, 2011, 10:11 pm
FlyerTalk Evangelist
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.... 'In their most recent annual report to Congress, the Federal Reserve says the coins are piling up so quickly they will need to spend $650,000 to build a new vault in Dallas to hold them. Shipping the coins to the new secure facility will cost an additional $3 million.' .....
http://abcnews.go.com/Politics/us-mi...ry?id=14052997
http://abcnews.go.com/Politics/us-mi...ry?id=14052997
Jul 15, 2011, 10:26 pm
Join Date: Dec 2009
Location: Between EWR & ABE
Programs: OnePass, AAdvantage, SkyMiles, PriorityClub, HHonors
Posts: 401
Hey guys,
Long-time lurker, first time poster. I've read through the FAQ, but was wondering more logistically how many of you deposit these coins. Do you call the banks ahead of time? I'd be using Wells Fargo, and would appreciate any tips/experiences that you have had with them.
Looking forward to my first order in a week!
Long-time lurker, first time poster. I've read through the FAQ, but was wondering more logistically how many of you deposit these coins. Do you call the banks ahead of time? I'd be using Wells Fargo, and would appreciate any tips/experiences that you have had with them.
Looking forward to my first order in a week!
Jul 15, 2011, 10:34 pm
Join Date: Dec 2009
Location: Between EWR & ABE
Programs: OnePass, AAdvantage, SkyMiles, PriorityClub, HHonors
Posts: 401
I've seen plenty of rolls of $1 coins on eBay for ~$30 with shipping. Thought I would check craigslist to see if people were selling them there. Came across this beauty: http://washingtondc.craigslist.org/n...495499038.html
$100? Really?
$100? Really?
Jul 15, 2011, 10:40 pm
Join Date: Dec 2009
Location: Between EWR & ABE
Programs: OnePass, AAdvantage, SkyMiles, PriorityClub, HHonors
Posts: 401
Jul 15, 2011, 11:36 pm
Join Date: Dec 2009
Location: Between EWR & ABE
Programs: OnePass, AAdvantage, SkyMiles, PriorityClub, HHonors
Posts: 401
Too bad this deal is gone: 
http://www.flyertalk.com/pudding.htm
If it were still around I know where a LOT of those golden dollars would be used! Think stores that take cash only. 
http://www.flyertalk.com/pudding.htm
If it were still around I know where a LOT of those golden dollars would be used!
Think stores that take cash only.
Jul 16, 2011, 12:14 am
Join Date: Oct 2010
Location: DCA
Programs: MR, SPG, IHG, HH, CC, AA, UA, BA, DL
Posts: 270
Heck, if I could get my CC companies to give me the necessary credit line, I would be more than happy to place the necessary orders with the Mint to have those coins shipped directly over.
Jul 16, 2011, 1:47 am
Join Date: Nov 2007
Location: going left
Programs: Dime con quien andas,y te dire quien eres
Posts: 367
Finally, I believe that the Mint changed their online terms to reflect the paragraph we now see about 'intent' because they received pressure from some other party(s). This is all about looks and PR. They allowed and encouraged us to buy large quantity but had to curb or stop it when pressed to do so by others. These news stories have been in the past, and will now be proof of that.
The "for profit" mint has made a boatload* of money on this deal according to a mint official.
The US Mint will not kill this deal over bad PR, because it is too lucrative.
I now believe that nothing will kill this - just restrict it to avoid bad press.
----------------------------------
Anyway,even as this has now slowed down substantially, it has truly been just an incredibly fortunate opportunity for me, that will pay fabulous dividends for years ahead.
May I propose a toast to all of you "coin nerds" on this thread who have just cleaned up on this deal,--- and to those that have participated,---and to the naysayers who did not partake.
My regards to all!
Good travels to you. (raising glass).
*NOTE:the person I spoke with did not specifically say "boatload".
Jul 16, 2011, 4:22 am
FlyerTalk Evangelist
Join Date: Nov 2002
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Posts: 10,052
YMMV. Without knowing where you are, no one can give you any real tips. If you've been lurking here for a long-time, you'd know that this has been discussed here ad nauseum and you have to learn how to deal with your locals as there's no consistency between different branches of the same bank.
You should also translate that post you quoted to read something more like: "Hey guys, I am secretly gathering information for more news organizations and since many around the world now believe that FFers are single-handedly responsible for the US's faltering economy, we want to know how much you have actually abused by monetarily. I have no time to put in the same level of time and work you have by sharing info and tips in this deal, actually ordering and carrying coins, reading posts dating back a few years, getting into heated debates or even offering up any shared information of my own, so I will just cut to the chase and see what sucker out here is willing to gleefully give me what I want and be gone tomorrow--and so will this coin program--but I will get a lil raise for doing it!"
Jul 16, 2011, 6:49 am
Join Date: Feb 2011
Programs: AA Lifetime Gold, HH Diamond
Posts: 879
^ Well stated.
You should also translate that post you quoted to read something more like: "Hey guys, I am secretly gathering information for more news organizations and since many around the world now believe that FFers are single-handedly responsible for the US's faltering economy, we want to know how much you have actually abused by monetarily. I have no time to put in the same level of time and work you have by sharing info and tips in this deal, actually ordering and carrying coins, reading posts dating back a few years, getting into heated debates or even offering up any shared information of my own, so I will just cut to the chase and see what sucker out here is willing to gleefully give me what I want and be gone tomorrow--and so will this coin program--but I will get a lil raise for doing it!"
You should also translate that post you quoted to read something more like: "Hey guys, I am secretly gathering information for more news organizations and since many around the world now believe that FFers are single-handedly responsible for the US's faltering economy, we want to know how much you have actually abused by monetarily. I have no time to put in the same level of time and work you have by sharing info and tips in this deal, actually ordering and carrying coins, reading posts dating back a few years, getting into heated debates or even offering up any shared information of my own, so I will just cut to the chase and see what sucker out here is willing to gleefully give me what I want and be gone tomorrow--and so will this coin program--but I will get a lil raise for doing it!"