chrisny2

Because they are small businesses where I am a regular. They weren't obnoxious about it, but made it known that they prefer not paying the interchange fees on cards (n.b.: if a place is obnoxious about it, then I don't care about helping them out.)

I also actually do like helping the coins get into circulation and would be pleased if the dollar bill is eliminated.

tjbrooks

No kidding. I posted here that I was going to be interviewed by the show, and stated my reasons for doing so, expecting to create a discourse rather than a lynch mob. Other than a one sentence reply, it was completely ignored. Nobody wanted to step down from their soapbox.
The podcast is up now.
http://www.npr.org/blogs/money/
Jane has only done a few thousand in coins. I've done $1250 total. We were users, not abusers. They twisted my words a little in making it sound like my recent Hawaii trip was made possible because of mint purchases to meet minimum spend, when all it did was speed up one Cap1 spend to get the Hyatt certs before they were out of stock. There was also no mention of depositing most of my first order back (I ordered without consulting the wife), and regretting it. Then ordering and spending my second and talking about people's reactions to the dollars in the real world.
If you actually listen to the reports, rather than just listen for "defectors" to publicly shame, the program was doomed because the dollar coin experiment failed. The public doesn't want them. Dollar coin transitions need to be mandated by government. The savings from extended coin life isn't there anymore due to better paper and expensive raw material cost. People abused the direct ship program, so it got shut down. I find it comical that there was so much anticipation for the Reagan coin from people here. Do you think he would have wanted this program to continue?
I'm glad the program lives on, They're useful. I will still order via check/money order/etc. Hopefully its not too burdensome. I only have a few more rolls left.

paranoiatx

All my email accounts just got spammed with the bad news and I figure I'd stop in for some grief counseling and/or anger management.

Those people who just had to get their 15 minutes of fame should be going into hiding. And NPR is probably pretty proud of themselves right about now.

Let the chorus of "I told you so" begin...

josephstern

Both of mine had that date also. Seems they're cancelling orders placed on or after the 20th.

S.Marsh

Sucks . . . I just got into this game back in March too. Guess I just gotta' find other was to earn 'free' miles.

Travel K

I am so sad this went away. I don't do a lot of travel except personal, so it was a good way for me to get miles. I didn't maximize buying by any means but it still provided me with a nice chunk of miles.

msp2msy

Got $1.5k yesterday. Today, I got notice that my one outstanding order will be cancelled. Sad.

Had to happen some day.

Next year, barring some other trick emerging, I'll do about half the spend I did this year. And I'll miss the regular, cheery visits from my UPS guy. He never asked but always smiled.

Tomorrow I buddy up with Excel to see how I finish my big spends in progress...

But tonight, I pour myself a drink and commiserate with J. Madison.

C'est la vie.

Thanks for the good times usmint.com.

dweick

You don't understand. The government sold the coins, they aren't on a government balance sheet any longer.

It really is no different than if I was minting the coins and selling them, except the US government was making a profit instead of me.

The coins cost less than $1 to make and sell, they are sold for $1, the balance is profit to the US government.

wildway

Anybody try to purchase a gift certificate yet? Theoretically, you may still be able to buy a gift certificate with a credit card, then use that gift certificate at the payment page. Might keep the deal alive a little bit longer.

dweick

Yes, if the US government could make 14.3 trillion $1 coins (which they can't, it isn't physically possible) and IF they could sell them for $14.3 trillion they could pay off most of the national debt with the profit from the sale.

It would well and truly be a profit to the US government and doesn't create any additional US government obligation.

It would just devalue the US dollar some more.

ClimbGuy

Dear United States Mint Direct Ship Customer:
The United States Mint has eliminated the credit and debit card purchase of $1 Coins through its Direct Ship Program effective July 20, 2011. Customers who wish to purchase $1 coins through the Direct Ship Program can still do so by using a wire transfer, money order or check. Customers who wish to purchase the coins by wire transfer may fax their order to (202)756-6585. Customers interested in purchasing by money order or check may do so by submitting your request in writing to the following address:

United States Mint
PO Box 71192
Philadelphia, PA 19176-6192
Please download the order form which includes wire transfer information and follow the instructions provided on the form. http://www.usmint.gov/downloads/dire.../orderform.pdf

If you currently have an open $1 coin Direct Ship order placed with the United States Mint, that order will be cancelled. Please resubmit your order by wire transfer, check or money order using the order form. The Mint has determined that this policy change is prudent due to ongoing activity by individuals purchasing $1 coins with credit cards, accumulating frequent flyer miles, and then returning coins to local banks. Local banks, in turn, return coins to the Federal Reserve. While not illegal, this activity is a clear abuse and misuse of the program which was intended to facilitate the use of $1 coins in cash transactions.
The Mint has undertaken several aggressive internal and external actions to mitigate this issue, including restricting chronic and repeated use of credit cards, contacting customers who frequently placed large numbers of orders to ensure they were using the coins for legitimate business purchases, and other measures. While these efforts eliminated a significant amount of misuse in the program, we believe some abuse still exists. Eliminating the credit and debit card purchase of the $1 coin is the next step in our efforts to root out abuse in this program and ensure it is better targeted toward fulfilling its intended purpose – which is to get the $1 coin into greater circulation.
Thank you for your understanding and your continued support of the $1 Coin Program.
The United States Mint

Jesperss

I placed my last order on 7/16, no email yet

dweick

The coins cost 30 cents to make and sell.

They are sold for $1 and that results in a 70 cent profit.

The profit doesn't disappear if someone swaps one form of currency for another.

I start with $10M in cash, I spend $300K to make $1M in $1 coins that I sell to you for $1M in cash. I now have $1.7M in cash.

You come up to me and ask to buy the $1M in coins for $1M in currency. I happily do so and I still have $1.7M in cash. My profit hasn't disappeared any more than if I swapped my $1 bills for $100 bills.

Not that the US Mint OR Uncle Sam buys back $1 coins.

javabytes

He receives miles, and the merchant is happier to accept the coins than the card because they don't have to pay the processing fees.

MojaveJack

Are you talking about the Medals? ALL the coins the mint issues ARE NEGOTIABLE. If you take a medal of honor commem to the store, they may look at you funny and refuse it, but it is legal tender. Though worth much more due to its precious metal content.