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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 19, 11, 8:02 pm
  #15991  
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Originally Posted by paranoiatx View Post
Also the teller seemed particularly annoyed today that he had to count coins.

Up to this point only 1 of my regular deposit banks had given any indication that they knew what the coins were for (and had no problem with it), but I don't like this new publicity.
.
I was out of the last few days and had a few orders to deposit today and the branch manager came over to talk to me while I was filling out the deposit ticket like he does a lot of times. He saw my cardboard box (I only had $3k so I was able to jsut carry them a fewblocks) and asked if I was depositing my coins and mentioned there was a story on NPR last week Everyone at that branch knows why I have all the coins, but I agree I don't like the publicity.

As far as the bank teller being annoyed, you need to remind him that coins can't be put in an ATM envelope
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Old Jul 19, 11, 8:05 pm
  #15992  
 
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Originally Posted by jamesteroh View Post
As far as the bank teller being annoyed, you need to remind him that coins can't be put in an ATM envelope
Imagine being able to just shove an entire box into an ATM and be done with it!
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Old Jul 19, 11, 8:15 pm
  #15993  
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Originally Posted by jamesteroh View Post
I was filling out the deposit ticket

[...]

you need to remind him that coins can't be put in an ATM envelope
I thought that deposit slips and ATM envelopes were obsolete.
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Old Jul 19, 11, 8:25 pm
  #15994  
 
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Originally Posted by Joshua View Post
Every post from this GOFLYZONE person seems to be of the nature of stalking/harassing jamesteroh.

Isn't there a rule on FlyerTalk against harassing other users?
Yes, that dude has some serious issues.
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Old Jul 19, 11, 8:28 pm
  #15995  
 
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Originally Posted by MojaveJack View Post
I suspect that Reagan will be widely collected. I may just buy the 90% silver one from the mint. :-::-::-:
I am sure it will be widely collected. Ronald Reagan was a great man and a great president.
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Old Jul 19, 11, 9:02 pm
  #15996  
 
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Originally Posted by KhalilSheikh View Post
The next time NPR has one of their fundraising pledge drives, I think I know how to donate to my local station...
If you do that, it will make it more difficult for them to annoy you with requests for additional donations in the future. Result!

Sometimes, they hit me up for more money before the credit card transaction for the current one has cleared.
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Old Jul 19, 11, 9:26 pm
  #15997  
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Originally Posted by dayone View Post
I thought that deposit slips and ATM envelopes were obsolete.
Many ATMs have scanner capabilities but some don't.

How can you do a teller deposit without a slip? Many commercial customers use the check scanners to scan in checks but every client I have dealt with still uses deposit tickets for their cash deposits as well as clients who do teller deposits.

I have personal accounts at a couple banks and they all require deposit tickets.
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Old Jul 19, 11, 9:44 pm
  #15998  
 
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A branch of a major national bank today told me that they won't accept any more dollar coins from me, as she said the federal reserve is cracking down on them accepting unused/rolled coins. I was only depositing 1K of coins once a month or so at this branch. So I'll go to another branch until they complain, then close my account and start over elsewhere.
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Old Jul 19, 11, 9:59 pm
  #15999  
 
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Originally Posted by aviators99 View Post
M0 is indeed increasing, but having nothing to do with the $1 coin direct ship program.
True, and I was never trying to deny that. However, each dollar coin does represent and embody, in some little way, the dilution of the money supply. Honestly, though, I don't really have a problem with the rate M0 is increasing; it's the more inclusive money supply measures that really have me worried.

That said-- All in all, I am not 100% sure what the OP's point was. You responded with something about how the coins are not dilutive, and that's all that I was replying to. I really wasn't trying to make a larger point -- just trying to correct what I perceived as an obfuscation or oversimplification.

Now, imagine that the direct ship program didn't include free shipping, and didn't include the ability to earn miles. Would anyone buy these coins? I feel 100% confident in saying that many fewer coins would be sold. The money that the Mint makes on seignorage would be substantially less, and yet M0 would still be increasing at the same rate.

Right?
Sounds reasonable to me.
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Old Jul 19, 11, 10:39 pm
  #16000  
 
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Originally Posted by aviators99 View Post
You are missing the economics part. You cannot mint 20 trillion of these coins without causing drastic inflation. Read my earlier post. There is no net addition to the money supply for the purposes of minting these coins. To make 20 trillion of them, there would be.

Your math insult is misplaced, and incorrect. The only correct argument you could have that it costs the government is storage space when the coins are returned.
What Does M0 Mean?
A measure of the money supply which combines any liquid or cash assets held within a central bank and the amount of physical currency circulating in the economy.
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Old Jul 20, 11, 4:39 am
  #16001  
 
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Originally Posted by SPLICERSZEBRA View Post
I am sure it will be widely collected. Ronald Reagan was a great man and a great president.
while reagan was, in fact, the least popular president in modern history based on actual polls, the presidential coin program is currently expected to end with his coin as it only honors dead presidents.
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Old Jul 20, 11, 5:35 am
  #16002  
 
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Originally Posted by crabbing View Post
while reagan was, in fact, the least popular president in modern history based on actual polls, the presidential coin program is currently expected to end with his coin as it only honors dead presidents.
Sooner or later someone is going to post something in this thread based on fact. It just is not this time.
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Old Jul 20, 11, 6:52 am
  #16003  
 
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Originally Posted by yngdiego View Post
A branch of a major national bank today told me that they won't accept any more dollar coins from me, as she said the federal reserve is cracking down on them accepting unused/rolled coins. I was only depositing 1K of coins once a month or so at this branch. So I'll go to another branch until they complain, then close my account and start over elsewhere.
The bank will have to *gasp* actually distribute the dollar coins as change to merchants or customers.

You can't go into a bank and demand all your change in $2 bills. Eventually, banks will have to stop honouring requests for all change to be in $1 bills.
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Old Jul 20, 11, 7:03 am
  #16004  
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Originally Posted by jamesteroh View Post
How can you do a teller deposit without a slip?
By swiping one's ATM or debit card at the teller's station. It has been several years since I've seen a deposit slip.
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Old Jul 20, 11, 7:15 am
  #16005  
 
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Originally Posted by dayone View Post
By swiping one's ATM or debit card at the teller's station. It has been several years since I've seen a deposit slip.
Have never seen such a thing. All the banks around here require a paper slip
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