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 23, 11, 9:44 am
  #16396  
 
Join Date: Jun 2008
Location: PDX
Programs: OnePass, MilesPlus, AAdvantage, SkyMiles (unfortunately), PC Plat, HH Silver, Marriott Aluminium
Posts: 739
Originally Posted by QL_714 View Post
Why is a thread still open when the deal is dead? It was always locked before when there was no new information. Can it be the amount of hits/money for this site?
It appears the mod gods have decided to leave this thread to a "Lord of the Flies" scenario. "Let's see what happens when we just back off and let the inmates run the asylum." I like the idea! Much more entertaining thread now by far. ^
brasov02 is offline  
Old Jul 23, 11, 9:45 am
  #16397  
 
Join Date: Sep 2009
Location: MSN
Programs: AA Plat 1MM, HH GLD, Hyatt Diamond, SPG GLD
Posts: 325
Originally Posted by dweick View Post
You sure took the long route to admitting the US Mint makes money from the coin program.
My argument was not that the mint made money, is to the fact that selling coins adds to monetary base. The argument that this "free" money to the govenment as a whole is a logical fallacy.
edwards183 is offline  
Old Jul 23, 11, 9:49 am
  #16398  
 
Join Date: Jun 2010
Location: Pennsylvania
Posts: 55
It's about time! Now we can get rid of this ridiculous thread and free up the Flyer Talk servers!
julielou2 is offline  
Old Jul 23, 11, 9:50 am
  #16399  
 
Join Date: Nov 2009
Location: PHX
Programs: UA *Alliance
Posts: 3,882
Originally Posted by Stoughton View Post
Sure, buying money at 103% of face value and for no rewards sounds like an excellent means of getting ahead.
Never used them and I never even bothered to read the fine print on them so yeah definitely a dumb idea.
SWCPHX is offline  
Old Jul 23, 11, 10:06 am
  #16400  
 
Join Date: Jun 2008
Location: PDX
Programs: OnePass, MilesPlus, AAdvantage, SkyMiles (unfortunately), PC Plat, HH Silver, Marriott Aluminium
Posts: 739
Originally Posted by edwards183 View Post
My argument was not that the mint made money, is to the fact that selling coins adds to monetary base. The argument that this "free" money to the govenment as a whole is a logical fallacy.
"Logical fallacy" is a great way to sum it up. Government never MAKES money (in the sense of profit that is). Look at the Post Office. Look at Fanny and Freddy and their brilliant home mortgage "business." Look at the brilliant success of the recent TARP and bail out. Example after example. They FAIL and cause horrendous problems for everyone else EVERY TIME they try to influence, mess with or otherwise get involved in the free market. Why oh why is that so hard for so many people to understand?
brasov02 is offline  
Old Jul 23, 11, 10:33 am
  #16401  
fti
FlyerTalk Evangelist
 
Join Date: Sep 2005
Location: MN
Programs: Lots of programs, dirt on all of them!
Posts: 11,925
Originally Posted by Astrophsx View Post
Don't you lock other threads with deals that are dead?
No in fact they don't. They move from MR Deals to MR Discussion. And since this thread is not even in MR forum, the same rules don't apply.

As was said, if it is an issue to you, STOP READING IT! Not to mention that questioning mod actions is against the rules.
fti is offline  
Old Jul 23, 11, 10:52 am
  #16402  
Hilton Contributor Badge
 
Join Date: Sep 2002
Location: District of Columbia
Programs: AA Plat, Marriott, Hilton Diamond, National
Posts: 1,695
Originally Posted by QL_714 View Post
Same thing I was thinking. Why is a thread still open when the deal is dead? It was always locked before when there was no new information. Can it be the amount of hits/money for this site?
It's worth leaving open because it's fun to talk and read about. People who aren't interested can just stop reading.
chrisny2 is offline  
Old Jul 23, 11, 11:42 am
  #16403  
 
Join Date: Nov 2009
Posts: 815
For everybody pointing to the media for killing the deal - lets be honest here. It wasnt the media who specifically killed it. The mint was clearly working on ways to stop the MANY abusers of this program on here. Many of you couldn't understand the simple concept of $1000 per 10 days...and instead turned to other methods of multiple credit cards, different addresses...etc. Greed is what killed the deal - NPR just simply highlighted it a little bit more and gave the mint the extra push to stop it. You all know who you are - the ones who tried to justify their actions continually as if they did "nothing wrong".

With that being said, the Mint is being fairly short-sighted on their part as well. Who the hell is going to waste their time to spend their time and money to send out a check, wire, or money order to get an even exchange of money all in dollar coins????! You can basically pronounce the dollar coin dead at this point - nobody is going to take apart of the direct coin ship program now. You have to have some incentive for people to want to participate and help out - and the mint has clearly lost that. A far better alternative for them should've been to cut the limit of $500 every ten days, or something along those lines, rather than killing it all together.
FlyingHigh20 is offline  
Old Jul 23, 11, 11:46 am
  #16404  
 
Join Date: Sep 2005
Location: CVG
Programs: AAdvantage, Delta Skymiles, CapOne Venture, Citi ThankYou
Posts: 486
Originally Posted by QL_714 View Post
Same thing I was thinking. Why is a thread still open when the deal is dead? It was always locked before when there was no new information. Can it be the amount of hits/money for this site?
I appreciate all that the mods do but I do think they close threads too aggressively. Moderation should stimulate free expression not suppress it.

You can always not read the thread.
CVG_Kid is offline  
Old Jul 23, 11, 11:55 am
  #16405  
 
Join Date: Dec 2009
Location: A whole lot of places . . .
Posts: 104
Originally Posted by brasov02 View Post
"Logical fallacy" is a great way to sum it up. Government never MAKES money (in the sense of profit that is). Look at the Post Office. Look at Fanny and Freddy and their brilliant home mortgage "business." Look at the brilliant success of the recent TARP and bail out. Example after example. They FAIL and cause horrendous problems for everyone else EVERY TIME they try to influence, mess with or otherwise get involved in the free market. Why oh why is that so hard for so many people to understand?
Uh, the USPS has turned a profit before. Likely will again. Plenty of other GSEs are profitable, eg: PetroBras, PEMEX, most national postal systems, etc. They're typically managed to be minimally profitable, as the government is not run for-profit, but people want some services to be self-funded.

Maybe you're so confused because you're wrong? Not all GSEs turn into disasters, much like not all "free markets" work. It's almost as if there are well-run and poorly-run GSEs, much like well-run and poorly-run companies. But when the facts don't fit your agenda, I guess the facts must bend.
KaiserBen is offline  
Old Jul 23, 11, 12:18 pm
  #16406  
 
Join Date: Mar 2007
Location: California, SMF
Programs: UA, AA, AS, DL, BA, HA, WN, SPG-PL, Hyatt-Dia, HH-Dia, Marr-Pl, US Mint/VR(retired)
Posts: 938
Originally Posted by QL_714 View Post
Why is this thread still open?
Because we're getting the withdrawal shakes and it acts as our methadone. You can't suggest that we go cold turkey without support ...
PatMike is offline  
Old Jul 23, 11, 12:43 pm
  #16407  
 
Join Date: May 2010
Posts: 2,996
Originally Posted by FlyingHigh20 View Post
For everybody pointing to the media for killing the deal - lets be honest here. It wasnt the media who specifically killed it. The mint was clearly working on ways to stop the MANY abusers of this program on here.
And for all their work, it never occurred to them to not ship multiple times to the same name, billing address and shipping address combo?
Stoughton is offline  
Old Jul 23, 11, 12:57 pm
  #16408  
 
Join Date: Apr 2004
Location: PHL
Programs: US, AA, UA, SPG, HHonors, PC
Posts: 235
Is this deal really dead? What about getting a money order from Walmart for a minimal fee? It's an extra step in the process and will probably take longer for the coins to arrive, but.....
XStAnt is offline  
Old Jul 23, 11, 1:24 pm
  #16409  
 
Join Date: Oct 2009
Programs: UA 1K, Hilton ♦ , Hyatt Carbonado, Wyndham ♦, Marriott PE, "Stinking Bum" elsewhere.
Posts: 3,616
NPR Yellow Journalists

I have to agree with many here who have pointed out how stupid reporters are for calling us "hackers". It shows a basic lack of understanding of how these deals worked and, the great benefit to the treasury that was provided by the program. I personally never re-deposited the coins but carried them overseas with me on my numerous international trips and sold them for a profit (the generous, 210 lb, free baggage allowance for 1Ks makes a big difference sometimes). One of the buyers who bought 10,000 coins from me for a 14.5% premium was going to make jewelry out of them. In that instance, I helped the government balance sheet by retiring 10K of coins permanently, thereby allowing them to retain the seigniorage on every retired coin.

On Friday, I heard another news report that the mint has 1 billion coins still in the vaults (mostly Sacajawea's I presume) and have no hope of getting them into circulation, yet are mandated to produce billions more dollar coins by Congress and somehow force them into circulation. Good luck with that!
zombietooth is offline  
Old Jul 23, 11, 1:27 pm
  #16410  
 
Join Date: Sep 2007
Location: Purgatory
Programs: Too many to list. Status is a half dozen.
Posts: 9,232
Originally Posted by aviators99 View Post
For those of you who are unhappy that this thread is still open, I have a suggestion:

Stop reading it.
But it's like a car crash...
ArizonaGuy is offline  

Thread Tools
Search this Thread
Search Engine: