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 May 14, 09, 1:42 pm
  #2176  
 
Join Date: Apr 1999
Location: Northport, NY
Posts: 1,673
I deposited $1,000 at my local TD Bank today. The manager approached me and asked where I was getting all the coins ( I have deposited $10,000 over the past six months). I told him "from a client" . He explained that they have to break open all the rolls and ship the coins back to the Fed. If I want to depost any more, I must put them is a locked bag that they will provide that will be sent to the fed and counted. I guess I be hitting multiple banks and branches in the future. With all the various prmotions, I have accounts at Citi and Chase also.
Schutzee is offline  
Old May 14, 09, 2:44 pm
  #2177  
 
Join Date: Aug 2003
Posts: 408
If My Bank said that to me "Colour Me Gone"
Getiton is offline  
Old May 14, 09, 2:50 pm
  #2178  
 
Join Date: Dec 2007
Posts: 484
Originally Posted by Getiton View Post
If My Bank said that to me "Colour Me Gone"
Agreed, they are in business to service our accounts, so service us ^
harpodamann is offline  
Old May 14, 09, 5:14 pm
  #2179  
Moderator: Avis and Rental Cars
 
Join Date: Oct 2006
Programs: US Platinum, United 1k, HHonors Diamond, Avis CC, Priority Club Platinum, Marriott Gold
Posts: 7,706
Originally Posted by Getiton View Post
If My Bank said that to me "Colour Me Gone"
+2; I'd have asked the manager at that moment to close my account and provide a check for the remaining balance.
IAHtraveler is offline  
Old May 14, 09, 6:29 pm
  #2180  
 
Join Date: Aug 2006
Location: ATL, BHM, DUB, County Wexford
Programs: DL DM, AA ExPlt, Diamond HH & HY
Posts: 3,378
Originally Posted by harpodamann View Post
Agreed, they are in business to service our accounts, so service us ^
When a customer becomes more of a bother or hinderance than they are a profit. It is better to let them go. So go!
EasternTraveler is offline  
Old May 14, 09, 8:15 pm
  #2181  
 
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 8,159
Is it possible we're doing what the Mint ultimately wants?

They want to get these coins into circulation, i.e., out of their warehouses.

We buy them, in some cases unwrap them, and turn them into banks.

The banks probably keep and reuse some, and send most up to the Federal Reserve Bank branch in their area.

The Fed can use them in a host of situations, once it has them.

So the Fed gets most without asking for them. The Mint is basically pushing them to the Fed. Maybe that's the point?
josephstern is offline  
Old May 14, 09, 8:48 pm
  #2182  
 
Join Date: Jan 2006
Location: NYC
Programs: AA Gold, TSA Disparager Gold
Posts: 1,393
I put in a $4500 order earlier this week, $2500 NA, $500 Jackson, $500 Adams, $500 Jefferson, and $500 Madison. Got a ship notice for one box of Adams today, checked the rest of the order online and the other Presidents say "Line was Canceled". Yet when I go to order more, it offers the others.

Is the Mint getting wise to people violating the order maximums by placing multiple orders? My last order was $2500 in Presidential coins about 3 weeks ago.
fs2k2isfun is offline  
Old May 14, 09, 8:52 pm
  #2183  
FlyerTalk Evangelist
 
Join Date: Mar 2009
Location: EWR
Programs: UAPlat; *Gold; Hyatt Diam; SPG Plat; PWP goddess
Posts: 16,476
Interesting article on spending habits -- coins vs paper money

Thought this was an appropriate article to post here:
http://www.npr.org/templates/story/story.php?storyId=104063298&ft=1&f=1001[/URL]

I believe that any coins we are able to put into circulation will help encourage their use!

Last edited by mnmag; May 14, 09 at 8:52 pm Reason: grammar
mnmag is offline  
Old May 14, 09, 8:53 pm
  #2184  
 
Join Date: Apr 2009
Location: 1 AU
Programs: Support the Tyrants Travel Club
Posts: 2,707
Originally Posted by sfducati View Post
Deposited my first lot(mere $1000 ) today at citibank. The cashier was first amused but then seemed a bit annoyed as I kept pulling out more rolls out of my backpack. She didn't open it but just rubber-banded it in packs of 4($100). The manager was smiling throughout and asked me if I had more
yeah i just did this a couple of days ago (at b of a), and it was pretty much the same reaction, when they noticed all I was depositing was dollar coins.

it felt like something the real Mr. Bean would have done
Mr. Bean is offline  
Old May 14, 09, 8:58 pm
  #2185  
 
Join Date: Jan 2006
Location: NYC
Programs: AA Gold, TSA Disparager Gold
Posts: 1,393
Originally Posted by LGA View Post
I'd suggest you first try to deposit the rolled coins directly with a teller and only unwrap and feed them to the machine if you must.
Regrettably, my bank (US Bank) requires that the coins be unwrapped. I suppose its possible to only put 24 coins in each roll and short them pretty significantly. Here in Milwaukee only the big branch downtown has a coin counter, so unless I only take in a single box, I've found the other branches won't accept them.
fs2k2isfun is offline  
Old May 15, 09, 1:31 am
  #2186  
 
Join Date: Sep 2004
Location: New York, NY
Programs: Marriott Bonvoy Lifetime Tit, Hilton Diamond, BA Gold, Carlson Gold, UA*S,
Posts: 1,267
I wheeled in a suitcase full of money to my HSBC branch in New York.

They found it hilarious the first time with $5000 to sort out.

Yesterday I took another $1000 - "oh no! - Not more!" the cashier said.

It was completely empty at this time - 3pm in the afternoon.

"What's the problem?" I asked. "You're not doing anything else!"

Seems they're pretty lazy.

I brought in another $2000 today... and there were no smiles this time.

Why is it such a hassle for these people? They are all pre-wrapped.

Anyway... so I get home and 2 more boxes have arrived. This time I went to visit another HSBC bank down the road... I wheeled my suitcase full of money containing $5000 coins 8 blocks.

The reaction here was even worse.

I strolled in at 4.40pm. The bank was virtually empty.

The cashier says i need to write my account number on every single roll!

Luckily I had printed out some stickers in case they asked for it.

Unluckily I had left that sheet of stickers at home.

So i begin to write them out in the corner.

THe cashier relents... "I'll let you deposit $1000 - we dont have room for anything else."

"Dont have room?!!?" I explaim. "You don't want my money? I should be able to bring in the entire US Mint if I like. What do you mean you don't have room?"

"I'm going to get the manager." She retorts.

"Fine. Go get the manager!"

The manager never came but their conversation was within earshot.

"What kind of coins are they?" he asks her.
"They're $1 coins."
"Well how much is it?" he says.
"$5-thousand dollars worth. But we dont have room."
"What do you mean you don't have room? What about store 1?"
"That's nearly full." The cashier replies.
"What about stores 2 and 3? There must be some room. FIND room!"

Marvellous to hear this.

So... 4.55pm I walk over to the counter... i had not finished writing the account number on nearly half of the rolls at this point.

"Right," she says, "put rubber bands round every 4 rolls and we'll see how far we get."

In the end the entire $5k was deposited.

The cashier was smiling by the end of it saying that she thought I was bringing in nickels, quarters and pennies and that was why she was so "difficult".

I left at 5.22pm - the bank closes at 5!

Anyway... the other HSBC was much easier. I just handed the coins over and walked out... so I will have to continue to do that even if it does mean they bi*ch and moan.
Johnny Rocket is offline  
Old May 15, 09, 8:53 am
  #2187  
 
Join Date: Dec 2003
Location: Maryland
Programs: AA, CO, US, UA, MX , DL - dirt everywhere
Posts: 70
Question Order on hold

My third order is showing up as "on hold". Has anyone had this happen? I searched through the web site, and they state this may be normal during processing.
tbird2000 is offline  
Old May 15, 09, 9:14 am
  #2188  
LGA
 
Join Date: Apr 2001
Location: Varies :-)
Programs: AS; AA; UA; DL; VS; BA; Nat'l Emer. Exec.; AGR
Posts: 2,246
Originally Posted by Johnny Rocket View Post
I wheeled in a suitcase full of money to my HSBC branch in New York.

They found it hilarious the first time with $5000 to sort out.

Yesterday I took another $1000 - "oh no! - Not more!" the cashier said.

It was completely empty at this time - 3pm in the afternoon.

"What's the problem?" I asked. "You're not doing anything else!"

Seems they're pretty lazy.

I brought in another $2000 today... and there were no smiles this time.

Why is it such a hassle for these people? They are all pre-wrapped.

Anyway... so I get home and 2 more boxes have arrived. This time I went to visit another HSBC bank down the road... I wheeled my suitcase full of money containing $5000 coins 8 blocks.

The reaction here was even worse.

I strolled in at 4.40pm. The bank was virtually empty.

The cashier says i need to write my account number on every single roll!

Luckily I had printed out some stickers in case they asked for it.

Unluckily I had left that sheet of stickers at home.

So i begin to write them out in the corner.

THe cashier relents... "I'll let you deposit $1000 - we dont have room for anything else."

"Dont have room?!!?" I explaim. "You don't want my money? I should be able to bring in the entire US Mint if I like. What do you mean you don't have room?"

"I'm going to get the manager." She retorts.

"Fine. Go get the manager!"

The manager never came but their conversation was within earshot.

"What kind of coins are they?" he asks her.
"They're $1 coins."
"Well how much is it?" he says.
"$5-thousand dollars worth. But we dont have room."
"What do you mean you don't have room? What about store 1?"
"That's nearly full." The cashier replies.
"What about stores 2 and 3? There must be some room. FIND room!"

Marvellous to hear this.

So... 4.55pm I walk over to the counter... i had not finished writing the account number on nearly half of the rolls at this point.

"Right," she says, "put rubber bands round every 4 rolls and we'll see how far we get."

In the end the entire $5k was deposited.

The cashier was smiling by the end of it saying that she thought I was bringing in nickels, quarters and pennies and that was why she was so "difficult".

I left at 5.22pm - the bank closes at 5!

Anyway... the other HSBC was much easier. I just handed the coins over and walked out... so I will have to continue to do that even if it does mean they bi*ch and moan.
NYC "customer service"... Definitely not among the reasons to live here. I would've thoroughly enjoyed overhearing that conversation, too!
LGA is offline  
Old May 15, 09, 9:22 am
  #2189  
 
Join Date: Apr 2008
Location: BOS
Programs: Hilton Diamond Marriott Plat
Posts: 270
Originally Posted by Johnny Rocket View Post

The cashier says i need to write my account number on every single roll!

Luckily I had printed out some stickers in case they asked for it.
That's a good idea...
terockwo is offline  
Old May 15, 09, 9:37 am
  #2190  
FlyerTalk Evangelist
 
Join Date: Mar 2006
Location: DFW
Programs: AA 1M
Posts: 28,962
Can a bank legally refuse coins? I last deposited 5K and the cashier said the manager would soon send me a letter stating the max I can deposit in the future which I have not received.
UA Fan is offline  

Thread Tools
Search this Thread
Search Engine: