Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Sep 24, 2009, 5:24 pm
#4696
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Sep 24, 2009, 5:39 pm
#4697
Join Date: Jul 2009
Location: ABQ, NM
Programs: United Mileage Plus, AAdvantage, Rapid Rewards
Posts: 26
Even though I'm trying to flood my city with the coins, I don't think that many cashiers give them back as change. I'm sure most get tired of having thier customers accuse them of not giving them the correct amount that it's not worth the headache. However most younger cashiers like the shiney new coins and will keep a couple for themselves, however there's a generation of older post-menapausal women who often act as if you're giving them wooden coins.
Anyway I think the result is the same--the coins ultimatly wind up in a bank vault. I'll just let the businesses make the deposits instead of me.
Sep 24, 2009, 6:01 pm
#4698
Join Date: Sep 2009
Programs: AA EXP
Posts: 19
I just started doing this a few weeks ago and every time I go into my bank they ask me if I have any more. It seems they have quite the demand at this branch....guess that means I can move up from the batches of $1500 I've been taking in.
Sep 24, 2009, 6:02 pm
#4699
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
Sep 24, 2009, 6:07 pm
#4700
FlyerTalk Evangelist
Join Date: Aug 2002
Location: Bay Area, CA
Programs: UA Plat 2MM; AS MVP Gold 75K
Posts: 35,068
What bank, and in what region are you located?
Sep 24, 2009, 6:30 pm
#4701
Moderator: Alaska Mileage Plan
Join Date: Feb 2005
Posts: 12,318
I run a non-profit institution.
The "board" (if there is one) can decide whatever they want to do with any "revenue" that exceeds expenses, EXCEPT use it for the benefit of individuals or stakeholders. This is enforced by disallowing the distribution to shareholders. It can be used to pay salary, bonuses, whatever. You do mention that there is discretion there, so of course it COULD be used to provide lower loan rates, higher interest paid, or member dividends, but there's no requirement for such things.
The "board" (if there is one) can decide whatever they want to do with any "revenue" that exceeds expenses, EXCEPT use it for the benefit of individuals or stakeholders. This is enforced by disallowing the distribution to shareholders. It can be used to pay salary, bonuses, whatever. You do mention that there is discretion there, so of course it COULD be used to provide lower loan rates, higher interest paid, or member dividends, but there's no requirement for such things.
Since the shareholders are its members, the board could, of course, distribute any surplus expenses to them, as it saw fit. Typically, that would be done in the form of dividends.
Sep 24, 2009, 6:45 pm
#4702
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
The "board" (if there is one) can decide whatever they want to do with any "revenue" that exceeds expenses, EXCEPT use it for the benefit of individuals or stakeholders. This is enforced by disallowing the distribution to shareholders. It can be used to pay salary, bonuses, whatever. You do mention that there is discretion there, so of course it COULD be used to provide lower loan rates, higher interest paid, or member dividends, but there's no requirement for such things.
Sep 24, 2009, 7:15 pm
#4703
Join Date: Nov 2004
Location: Ann Arbor
Programs: HHonors Gold , National Emerald Exec, Hertz Presidents, Delta Gold
Posts: 2,604
I previously used a dolly to deposit $9750 at a time.
A dolly is the only way to go if you are depositing more than $2500, IMHO.
I was requested in a letter to deposit smaller amounts, so as not to appear to be skirting the $10K reporting requirement.
Staying under $5K now.
xyzzy was referring to unwrap time, I believe.
After my first unwrap session, which even with kids was quite long, I called my local FT friends and discussed which banks accepted the coins rolled.
I got an account with that bank, along with 50K FF miles
, and now use their branches exclusively to deposit coins.
Due to the many branches where I live and where I work, I have never gone into the same branch twice.
If a bank requests you unroll your coins, find another bank.
A dolly is the only way to go if you are depositing more than $2500, IMHO.
I was requested in a letter to deposit smaller amounts, so as not to appear to be skirting the $10K reporting requirement.
Staying under $5K now.
xyzzy was referring to unwrap time, I believe.
After my first unwrap session, which even with kids was quite long, I called my local FT friends and discussed which banks accepted the coins rolled.
I got an account with that bank, along with 50K FF miles
, and now use their branches exclusively to deposit coins.Due to the many branches where I live and where I work, I have never gone into the same branch twice.
If a bank requests you unroll your coins, find another bank.
Sep 24, 2009, 7:18 pm
#4704
Join Date: Oct 2006
Location: IAD, and sometimes OMNI/PR. Currently: not far from IAD, but home will always be SAN (not far from the "touch my junk and I'll have you arrested" Memorial TSA Check Point) even if I'm not there so much these days.
Programs: UA, CO, Calcifer Award for Mad Haiku Skillz
Posts: 5,076
Any purchase under ten dollars I'll use coins. So basically at fast-food drive-thrus, convience stores, and bars. I just burned over 200K of OnePass miles in the past year so I'm not so totally desperate for new miles at the moment that I have to use my CC for absolutly everything.
Even though I'm trying to flood my city with the coins, I don't think that many cashiers give them back as change. I'm sure most get tired of having thier customers accuse them of not giving them the correct amount that it's not worth the headache. However most younger cashiers like the shiney new coins and will keep a couple for themselves, however there's a generation of older post-menapausal women who often act as if you're giving them wooden coins.
Anyway I think the result is the same--the coins ultimatly wind up in a bank vault. I'll just let the businesses make the deposits instead of me.
Even though I'm trying to flood my city with the coins, I don't think that many cashiers give them back as change. I'm sure most get tired of having thier customers accuse them of not giving them the correct amount that it's not worth the headache. However most younger cashiers like the shiney new coins and will keep a couple for themselves, however there's a generation of older post-menapausal women who often act as if you're giving them wooden coins.
Anyway I think the result is the same--the coins ultimatly wind up in a bank vault. I'll just let the businesses make the deposits instead of me.
Edna Crabapple really turned you off to those post-menopausal women, didn't she.
I've never had a problem using the coins, and find that most cashiers do give them a second look, but it's more along the lines of a "hey, cool!" look. I've never seen anyone bite one to see if it's real though. I made the silly mistake at the farmers' market asking one of the vendors if he'd prefer $8 in dollar coins or bills and he said "bills", which I gave him. Lesson learned, I don't ask anymore, but if a cashier refused, I'd probably just give them paper money. I do my best to circulate them out of the rolls via small transactions when I'm not using a CC, but do I really want to carry around that much shrapnel 24/7?
The only place I've ever had the coins dispensed to me was via the ticket machine in the DC metro.
Last edited by youreadyfreddie; Sep 24, 2009 at 9:30 pm
Sep 24, 2009, 7:34 pm
#4705
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,049
Yes, I know nothing about CUs, in particular. I was just responding about non-profits, in general (which was how the quote was phrased).
Sep 24, 2009, 7:41 pm
#4706
Join Date: May 2002
Location: St Louis, MO
Programs: AA L.T. PLT
Posts: 3,283
Sep 24, 2009, 8:43 pm
#4707
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
He has to put the coins to the coin machine...
That is why I ask how you can use dolly to get the coins into coin machine?
Using dolly to carry the coins into the bank, sure. I used a wheeled cart for the 2500 box. The maximum I can handle is $3000. Above that I have some difficulty to handle the cart... (me being a 115lb female...)
Sep 24, 2009, 9:54 pm
#4708
In memoriam
Join Date: Aug 2002
Programs: AA EXP "Life is good! Really good.""
Posts: 4,923
xyzzy said, <<Now, if I could only lift the bucket that we shelled them into...>
He has to put the coins to the coin machine...
That is why I ask how you can use dolly to get the coins into coin machine?
Using dolly to carry the coins into the bank, sure. I used a wheeled cart for the 2500 box. The maximum I can handle is $3000. Above that I have some difficulty to handle the cart... (me being a 115lb female...)
He has to put the coins to the coin machine...
That is why I ask how you can use dolly to get the coins into coin machine?
Using dolly to carry the coins into the bank, sure. I used a wheeled cart for the 2500 box. The maximum I can handle is $3000. Above that I have some difficulty to handle the cart... (me being a 115lb female...)
Sep 24, 2009, 10:11 pm
#4709
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: 945
...And you can use your SPG Amex at Costco!
Sep 24, 2009, 10:40 pm
#4710
FlyerTalk Evangelist
Join Date: Apr 2001
Location: DFW, AA, Hilton
Posts: 16,692
Please revise your derogatory putdown of all women, as we all sooner or later become older and post-menopausal. And, you have no idea how many of us have been particpating in this program for quite a while.