Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Jul 29, 2009, 4:22 pm
#3151
Join Date: Mar 2006
Posts: 201
). They couldn't process my order right away for the native coins.But, don't know why as I tried to buy the president coins when I reach the last page before confirming it still had the shipping fee added.
I'll try it again later and see if it happens again.
Jul 29, 2009, 4:23 pm
#3152
Suspended
Join Date: Nov 1999
Posts: 24,153
you can open 2 MM accts
Jul 29, 2009, 4:27 pm
#3153
Suspended
Join Date: Nov 1999
Posts: 24,153
Thats exactly my point. Think they are not minting it fast enough before you guys buy them up( must be alot of miles adding up out there). They couldn't process my order right away for the native coins.
But, don't know why as I tried to buy the president coins when I reach the last page before confirming it still had the shipping fee added.
I'll try it again later and see if it happens again.
). They couldn't process my order right away for the native coins.But, don't know why as I tried to buy the president coins when I reach the last page before confirming it still had the shipping fee added.
I'll try it again later and see if it happens again.
Then i'll give it a rest as I'll be away here and there and no sense having them come only to get shipped back since no one was home to sign for them
And honestly,schelping them in the past few weeks has become a slight pain. But when the Bonus pts/miles show up for using the new CC, the pain is alot less bothersome. But still its getting to me abit
Jul 30, 2009, 12:35 am
#3154
FlyerTalk Evangelist
Join Date: Sep 2002
Location: Between AUS, EWR, and YTO In a little twisty maze of airline seats, all alike.. but I wanna go home with the armadillo
Programs: CO, NW, & UA forum moderator emeritus
Posts: 35,415
How many orders do you guys have open at once? Given the long "on hold" times, I'm tempted to order more NA coins now rather than wait for the "on hold" ones to arrive...
Jul 30, 2009, 12:48 am
#3155
Join Date: Jan 2005
Posts: 1,458
Well I found a new use for a coin (Just one). Was at a symphony performing Disney classics tonight and a mentally challenged girl behind me was very excited about the songs from Pocohontas. I reached in my pocket and pulled out an NA coin, turned around and gave it to her. It made my night.
Jul 30, 2009, 7:11 am
#3157
Moderator: Avis and Rental Cars
Join Date: Oct 2006
Posts: 8,032
It is worth noting that I ordered some coins on 7/18 when they said they would be backordered through 7/20. On 7/20 I got an email with an expected ship date of 8/4. They were shipped last night for delivery today!
Jul 30, 2009, 8:02 am
#3158
Join Date: Jun 2009
Location: Metro Detroit
Programs: DL KM
Posts: 628
Ever wonder what they're thinking at the US Mint? (Yeah, I know- you really don't want to think like them....). From their point of view, they must think that the public just loves these NA coins (and the others also) and can't get enough of them. They must believe that they have a huge hit on their hands. The demand is far outstripping supply. And they are getting huge numbers returned through the bank channels, so it looks like they are being used by the public. On top of all that, the demand is coming from all geographic areas.
I would love to be a fly on the wall over there....
I would love to be a fly on the wall over there....
Jul 30, 2009, 8:36 am
#3159
Original Member
Join Date: May 1998
Posts: 1,139
The coins don't go back to the Mint. Once they are in the banking system they stay in the banking system, it is just an issue of how many coins are in the physical drawers of bank tellers and merchants versus the "reserve" vaults of the Fed.
The Mint knows exactly what is going on here. A few internet searches with reading between the lines of Mint statements tells us what we need to know. The Mint was presented with a study showing that dollar coins are less expensive to the government in the long-term than dollar bills, as a result of coins lasting longer and $1 bills being used to counterfeit $100 bills. The Mint was instructed to convince the banking system (which consists primarily of non-government businesses) to order and distribute large quantities of dollar coins instead of dollar bills. The Mint was further instructed that a significant percentage of its dollar coins must be native americans so that individuals can gain a greater appreciation of Indians.
The banking system extended the proverbial middle finger to the Mint and did not order many dollar coins. The Mint obtained government funding to absorb credit card fees and pay shipping for sales to individuals. Once the individuals spend or deposit the dollar coins, they are permanently in the banking system.
If the government wants to achieve its desired cost savings, it may need to reduce the manufacture of $1 bills, a result only achievable when a significant quantity of dollar coins are available. If the program us successful, the government will save more money by converting to the manufacture of dollar coins than it spends in credit card fees and shipping. We will get our miles/ points/ cash rebates. Who knows if it will all work, but it is great to try. The stuff I just posted is based on reading information on the internet - generally articles and press releases.
The Mint knows exactly what is going on here. A few internet searches with reading between the lines of Mint statements tells us what we need to know. The Mint was presented with a study showing that dollar coins are less expensive to the government in the long-term than dollar bills, as a result of coins lasting longer and $1 bills being used to counterfeit $100 bills. The Mint was instructed to convince the banking system (which consists primarily of non-government businesses) to order and distribute large quantities of dollar coins instead of dollar bills. The Mint was further instructed that a significant percentage of its dollar coins must be native americans so that individuals can gain a greater appreciation of Indians.
The banking system extended the proverbial middle finger to the Mint and did not order many dollar coins. The Mint obtained government funding to absorb credit card fees and pay shipping for sales to individuals. Once the individuals spend or deposit the dollar coins, they are permanently in the banking system.
If the government wants to achieve its desired cost savings, it may need to reduce the manufacture of $1 bills, a result only achievable when a significant quantity of dollar coins are available. If the program us successful, the government will save more money by converting to the manufacture of dollar coins than it spends in credit card fees and shipping. We will get our miles/ points/ cash rebates. Who knows if it will all work, but it is great to try. The stuff I just posted is based on reading information on the internet - generally articles and press releases.
Jul 30, 2009, 8:37 am
#3160
Join Date: Mar 2007
Location: On the road
Programs: Too many to list
Posts: 1,051
Ever wonder what they're thinking at the US Mint? (Yeah, I know- you really don't want to think like them....). From their point of view, they must think that the public just loves these NA coins (and the others also) and can't get enough of them. They must believe that they have a huge hit on their hands. The demand is far outstripping supply. And they are getting huge numbers returned through the bank channels, so it looks like they are being used by the public. On top of all that, the demand is coming from all geographic areas.
I would love to be a fly on the wall over there....
I would love to be a fly on the wall over there....
Jul 30, 2009, 8:40 am
#3161
Join Date: Mar 2007
Location: On the road
Programs: Too many to list
Posts: 1,051
8, and as soon as my 3 new cards come this week (hopefully), it'll be 11. I definitely don't want to wait for the held ones to ship because they keep pushing back the in-stock date. It's currently 8/11.
It is worth noting that I ordered some coins on 7/18 when they said they would be backordered through 7/20. On 7/20 I got an email with an expected ship date of 8/4. They were shipped last night for delivery today!
It is worth noting that I ordered some coins on 7/18 when they said they would be backordered through 7/20. On 7/20 I got an email with an expected ship date of 8/4. They were shipped last night for delivery today!
Jul 30, 2009, 8:47 am
#3162
Join Date: Mar 2003
Location: Independence, MO USA
Programs: AA LT Gold & Marriott Gold
Posts: 275
Just had a strange thing happen. I'm using a Citi Amex, one of my churning cards, that has a $2,000 limit.
On 7/22 the Mint sent in a authorization for $2,000;
On 7/24 the charge posted to my account
On 7/28 my payment posted.
Yesterday I had $0 credit availabe so I called Citibank and they said it should clear today. It didn't so I called Citibank back. They advised the authorization would stay open for 14 more days and I would have to call the Mint to get it released. When I asked why the they just didn't clear it as the charge had posted they transferred me to Credit Management and they said they couldn't fix it either and to call the Mint. Called the US Mint, they couldn't help, said the CC company had to release. Ended up setting up conference call with Citibank and the Mint, after a couple of questions Citibank released the hold and 2 minutes later the credit limit was restored and I could see it online. What a hassle. BTW, I'm getting a bonus for using the card so I didn't want to wait the 14 days.
On 7/22 the Mint sent in a authorization for $2,000;
On 7/24 the charge posted to my account
On 7/28 my payment posted.
Yesterday I had $0 credit availabe so I called Citibank and they said it should clear today. It didn't so I called Citibank back. They advised the authorization would stay open for 14 more days and I would have to call the Mint to get it released. When I asked why the they just didn't clear it as the charge had posted they transferred me to Credit Management and they said they couldn't fix it either and to call the Mint. Called the US Mint, they couldn't help, said the CC company had to release. Ended up setting up conference call with Citibank and the Mint, after a couple of questions Citibank released the hold and 2 minutes later the credit limit was restored and I could see it online. What a hassle. BTW, I'm getting a bonus for using the card so I didn't want to wait the 14 days.
Jul 30, 2009, 11:38 am
#3163
Join Date: Jun 2009
Location: Metro Detroit
Programs: DL KM
Posts: 628
They have to end back up at the Mint eventually.
I understand WHY they were putting this program out. But the sheer volumes that we are dealing with have got to have them shaking their heads. How many NA coins can a bank use when no one wants them? And eventually, the bank is going to complain to the Mint when their stockrooms fill up with all of our deposits with nowhere to go. As I said before, the demand is far outstripping the supply. But only at the Mint level. At the bank level, supply must be far outstripping demand. Maybe it's just me, but I dont' think anyone cares (or even knows) about the NA coins. And I give a boatload of them every week to my bank.
I understand WHY they were putting this program out. But the sheer volumes that we are dealing with have got to have them shaking their heads. How many NA coins can a bank use when no one wants them? And eventually, the bank is going to complain to the Mint when their stockrooms fill up with all of our deposits with nowhere to go. As I said before, the demand is far outstripping the supply. But only at the Mint level. At the bank level, supply must be far outstripping demand. Maybe it's just me, but I dont' think anyone cares (or even knows) about the NA coins. And I give a boatload of them every week to my bank.
The coins don't go back to the Mint. Once they are in the banking system they stay in the banking system, it is just an issue of how many coins are in the physical drawers of bank tellers and merchants versus the "reserve" vaults of the Fed.
The Mint knows exactly what is going on here. A few internet searches with reading between the lines of Mint statements tells us what we need to know. The Mint was presented with a study showing that dollar coins are less expensive to the government in the long-term than dollar bills, as a result of coins lasting longer and $1 bills being used to counterfeit $100 bills. The Mint was instructed to convince the banking system (which consists primarily of non-government businesses) to order and distribute large quantities of dollar coins instead of dollar bills. The Mint was further instructed that a significant percentage of its dollar coins must be native americans so that individuals can gain a greater appreciation of Indians.
The banking system extended the proverbial middle finger to the Mint and did not order many dollar coins. The Mint obtained government funding to absorb credit card fees and pay shipping for sales to individuals. Once the individuals spend or deposit the dollar coins, they are permanently in the banking system.
If the government wants to achieve its desired cost savings, it may need to reduce the manufacture of $1 bills, a result only achievable when a significant quantity of dollar coins are available. If the program us successful, the government will save more money by converting to the manufacture of dollar coins than it spends in credit card fees and shipping. We will get our miles/ points/ cash rebates. Who knows if it will all work, but it is great to try. The stuff I just posted is based on reading information on the internet - generally articles and press releases.
The Mint knows exactly what is going on here. A few internet searches with reading between the lines of Mint statements tells us what we need to know. The Mint was presented with a study showing that dollar coins are less expensive to the government in the long-term than dollar bills, as a result of coins lasting longer and $1 bills being used to counterfeit $100 bills. The Mint was instructed to convince the banking system (which consists primarily of non-government businesses) to order and distribute large quantities of dollar coins instead of dollar bills. The Mint was further instructed that a significant percentage of its dollar coins must be native americans so that individuals can gain a greater appreciation of Indians.
The banking system extended the proverbial middle finger to the Mint and did not order many dollar coins. The Mint obtained government funding to absorb credit card fees and pay shipping for sales to individuals. Once the individuals spend or deposit the dollar coins, they are permanently in the banking system.
If the government wants to achieve its desired cost savings, it may need to reduce the manufacture of $1 bills, a result only achievable when a significant quantity of dollar coins are available. If the program us successful, the government will save more money by converting to the manufacture of dollar coins than it spends in credit card fees and shipping. We will get our miles/ points/ cash rebates. Who knows if it will all work, but it is great to try. The stuff I just posted is based on reading information on the internet - generally articles and press releases.
Jul 30, 2009, 11:39 am
#3164
Join Date: Jul 2009
Posts: 70
My orders placed on 7/20 arrived today plus one placed on 7/21. You really can't trust the dates the mint lists. lol
Jul 30, 2009, 12:24 pm
#3165
Original Member
Join Date: May 1998
Posts: 1,139
Easy Victor,
Why do you think thet end up back at the Mint? That is not consistent with my understanding of the process.
The Mint is completely separate from the banking system. I don't think coins go back to the Mint from the banking system.
Why do you think thet end up back at the Mint? That is not consistent with my understanding of the process.
The Mint is completely separate from the banking system. I don't think coins go back to the Mint from the banking system.