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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 Jul 17, 11, 3:22 pm
  #15871  
 
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Originally Posted by MyTravels View Post
Only with government math. That's equivalent to saying if a company issues new shares the money raised in the new issuance is profit. (It's actually dilution)
That depends on whether the coins are used to increase the money supply (inflation) or replace old currency/coins as they're removed from circulation.
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Old Jul 17, 11, 3:24 pm
  #15872  
 
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Originally Posted by MyTravels View Post
Only with government math. That's equivalent to saying if a company issues new shares the money raised in the new issuance is profit. (It's actually dilution)
Wrong. These coins do not dilute the money supply. They are replacing bills.
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Old Jul 17, 11, 3:25 pm
  #15873  
 
Join Date: Jun 2011
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Originally Posted by MyTravels View Post
Only with government math. That's equivalent to saying if a company issues new shares the money raised in the new issuance is profit. (It's actually dilution)
I'm paying $1 of my money per $1 coin over here, I'd like to get in on this alleged government math. PM me the info please.
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Old Jul 17, 11, 3:26 pm
  #15874  
 
Join Date: Jun 2011
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. .

Last edited by coregis; Jul 17, 11 at 3:27 pm Reason: double post
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Old Jul 17, 11, 3:30 pm
  #15875  
 
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Originally Posted by Marathon Man View Post
I do now suggest that you begin reading from page #1 and you shall learn everything you need to know and more.
Only problem with that is that the rules of the game have changed several times since it began. Reading it all from the beginning can be confusing. It really would be nice if the FAQ were up to date and complete with all the info one needed.


Originally Posted by Marathon Man View Post
Otherwise, we could just be feeding more information than necessary to another person who, for all we know, is lurking on behalf of NPR or other organizations who would somehow like to see this all end.
MM
That's an ever present danger as long as we maintain a public forum. It's a risk we take and just cannot be avoided in an open discussion. Just another reason to lobby for the end of funding to NPR which would only leave 100+ other outlets to contend with!
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Old Jul 17, 11, 3:38 pm
  #15876  
 
Join Date: Jul 2011
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Started @ page 1 and went to 20
them went to 850 and am now on 933 with no great answers.
I like the starbucks stuff and the buy on one card and return on another debt card you posted and will try that soon.
I know there is no get rich quick and easy threads.
Just asking for some help.
Best,
Jesse
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Old Jul 17, 11, 3:58 pm
  #15877  
 
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Originally Posted by aviators99 View Post
Wrong. These coins do not dilute the money supply. They are replacing bills.
So you are saying that the government is keeping the M0 (hard currency) money supply static? That for every coin or bill they mint or print, they are destroying an equivalent amount of coins or bills?
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Old Jul 17, 11, 4:23 pm
  #15878  
 
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Originally Posted by MojaveJack View Post
WELFARE?

If [ cost of producing $1 coin ] + [ cost of shipping $1 coin ] + [ processing fees/coin (including CC charges) ] < $1/coin
then the mint makes a profit and THAT'S NOT WELFARE.

It may not be as much as they'd make if they charged shipping, but based upon the elasticity of demand, they'd likely be moving a much smaller volume if they tried to recoup shipping costs. You need to do an economic analysis to see it makes sense.
You need to use Enron's type of accountants to arrive at a net profit.
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Old Jul 17, 11, 4:44 pm
  #15879  
 
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Originally Posted by jesseegnew View Post
If any on can help me I would be most grateful.

I own a car wash and will be using these there and also to get miles/points has anyone successfully been allowed more that 1K in coins in 10 days?
Yes, you can do this with approval from the Mint. You have to submit an application and back up your legitimate need for the coins. Apparently, some here have successfully done so. I have not, and so I have no further information. Quote from the mint's website:

Order Limit: Click to Expand

There is a 4-box $1 coin limit for every 10-day period on any and all $1 coin orders. Beyond that your credit card will not be authorized. If you need quantities greater than this, please send an e-mail before placing your order to [email protected] explaining why your order should be exempted from the limit.


Dose the mint only allow you one transaction per 10 days on a card (or is it an address or a person?)
It is per card. Be sure to be careful with Amex. They are one of the known problem cards. If you do too many coins, they might initiate a Financial Review (I think that's what it's called) on your account and require certain documentation in order for you to keep your account alive. Again this is not from personal experience but from reading various threads here and elsewhere. Some people claim to have no problems with small amounts on their Amex while others have faced the dreaded Review. IMHO because of this risk, it is not worth it to use my Amex cards for Mint purchases. I have plenty of other cards for that. If you Google "Amex Financial Review" then you will find plenty of threads with more information. Here is one such thread.

http://www.flyertalk.com/forum/ameri...al-review.html
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Old Jul 17, 11, 4:53 pm
  #15880  
 
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Interesting segment on NBC news tonight talking about the $300M cost to taxpayers for the $1 coin program. They said that they only people who liked the dollar coins were frequent flyers who were collecting a massive amount of miles and points.
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Old Jul 17, 11, 5:03 pm
  #15881  
 
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AMEX does Financial Reviews for many reasons, considering it a heretical use of their cards to buy coins, gift cards, and make payments to yourself on payment systems.

Originally Posted by badgerW View Post
Be sure to be careful with Amex. They are one of the known problem cards. If you do too many coins, they might initiate a Financial Review (I think that's what it's called) on your account and require certain documentation in order for you to keep your account alive. Again this is not from personal experience but from reading various threads here and elsewhere. Some people claim to have no problems with small amounts on their Amex while others have faced the dreaded Review. IMHO because of this risk, it is not worth it to use my Amex cards for Mint purchases. I have plenty of other cards for that. If you Google "Amex Financial Review" then you will find plenty of threads with more information. Here is one such thread.

http://www.flyertalk.com/forum/ameri...al-review.html
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Old Jul 17, 11, 5:06 pm
  #15882  
 
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Originally Posted by GOFLYZONE View Post
You need to use Enron's type of accountants to arrive at a net profit.
How's that? I believe I have read that it costs $0.20 to mint one dollar coin. 4% CC fees (being generous) = $0.04. Shipping fees, probably $20 for $1000 worth of coins = $0.02. Add in $0.05 per coin for the costs of the website, employees doing the boxing and shipping, etc. So in total the Mint's costs are $0.31 and I am paying them $1.00, i.e. they are profiting around 200% on my purchase of their coins.

Now I do not know how that stacks up against the "normal" costs incurred by the Mint when it distributes the coins directly to banks -- surely the $0.20 for metals, minting, etc. doesn't change (unless it's due to variance in the commodity cost of metals over time, which would equally affect their profit whether shipped to banks or purchased through the site and shipped to the public). But surely it has to pay employees, truck freight, and other costs associated with their normal distribution patterns, exactly as they would for, say, quarters or dimes. So I would guess a "normal" cost of $0.25 per coin, shipped to a bank (not counting the bank's expenses in distribution, unboxing, etc.).

But it appears that the problem with these dollar coins is that the Mint's normal distribution patterns are obviously not working. It would seem that the banks don't want them, which is why the Mint is offering the direct-to-public sales on a par-value basis (of course they are happy to offer similar rolls of quarters, dimes, etc. to the public through the website at jacked-up prices). So it seems the Mint is willing to accept a slight decrease in profit margin by selling to the public directly instead of shipping these to the banks; after all, they're making them and they need to get rid of them.
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Old Jul 17, 11, 6:35 pm
  #15883  
 
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A big Thank you!

Thank you for helping me If you are ever in summerville SC shoot me a pm and I will show you around or atleast give you a car wash!
Best,
Jesse
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Old Jul 17, 11, 6:42 pm
  #15884  
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Originally Posted by MojaveJack View Post


Kill the paper dollar and keep the coins. Many of the libs who posted replies on the NPR site even support that move.

I'm going to tell them that if they continue to support left-wing NPR, they should support right-wingers like Rush Limbaugh, Sean Hannity, and Mark Levin as well.
Good point, if they are going to support NPR they should also support a conservative media. Odd that someone would post on this thread if they are against this program and have never tried it. Kind of like people the complain about Walmart who never shop there. Airline and other travel industry employees should be supporting this program since it helps bring in more business.
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Old Jul 17, 11, 6:43 pm
  #15885  
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Originally Posted by turkeyRIOO View Post
Interesting segment on NBC news tonight talking about the $300M cost to taxpayers for the $1 coin program. They said that they only people who liked the dollar coins were frequent flyers who were collecting a massive amount of miles and points.
I am sure the people that did the story aren't frequent travelers. It seems like everyone that complains about this program doesn't travel that much.
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