Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Oct 5, 2009, 3:33 pm
#4981
Join Date: Mar 2005
Posts: 269
This is not a bad idea. Did you show up with the coins in hand to open the account? There are a TON of really small banks in my area and I don't need physical checks, just a routing number and an electronic bill payment system. Heck, I'll even keep $500 on hand with them to keep them happy that I'm not just skimming money through their bank.
Oct 5, 2009, 3:34 pm
#4982
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
Oct 5, 2009, 4:42 pm
#4983
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,049
With all of these "trillion" numbers quoted about these days, I'm not surprised you would say that...but there's no way.
Last edited by aviators99; Oct 5, 2009 at 5:26 pm Reason: Oops...typo...HHGTTG comes out of my fingers automatically (Trillian)
Oct 5, 2009, 5:07 pm
#4984
Original Member
Join Date: May 1998
Posts: 1,139
Keep your receipts. While no sales tax is imposed on coins/currency with a value equal to face, many states do impose sales tax on gold and other collectible coins with a value > face. Since the Mint sells gold coins but is not required to collect state sales tax, the purchasers of gold coins in certain states must remit use tax (few of those purchasers actually do so voluntarily). It is possible that states will obtain information from the Mint in order to write the dreaded "You may owe use tax" letters to people they believe purchased gold coins and some of us may get such a letter. The receipts for the coin purchases will make the state examiner go away.
This scenario is not likely to happen to many of us, but I believe it wise to keep a file of receipts.
This scenario is not likely to happen to many of us, but I believe it wise to keep a file of receipts.
Oct 5, 2009, 5:32 pm
#4985
Join Date: May 2008
Posts: 224
Funny thing is, I received 2 postcards from the US mint a couple days ago. One was addressed to my home address, the other to my home address with the #1 after it. I had previously placed a couple of orders with the #1 after the home address, in an attempt to surpass the normal limit (which worked)
Oct 5, 2009, 5:49 pm
#4986
Join Date: Mar 2007
Location: On the road
Programs: Too many to list
Posts: 1,051
I should've been more specific as to context in that what often matters is whether or not collector demand in your area has been completely satisfied for the presidential coins. A number of banks that we go to that require us to unroll and put the NAs through the coin-counters will gladly take Presidents unrolled to sell back to other customers. This allows us to increase our deposits when we get them, as well as actually making some of the tellers happy to see us.
No one in our area wants the NAs in the same way, so that limits us at most branches to under 2k per day.
Oct 5, 2009, 6:45 pm
#4987
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
Checked my order status today and it shows that the order has shipped. Also it has the UPS tracking number however the number does not yet show up in the UPS system. I assume that means that it really did not ship and that it will ship tomorrow.
Update: Just received the e-mail from the mint showing the shipping. Still no ability on UPS to track the shipment.
Update: Just received the e-mail from the mint showing the shipping. Still no ability on UPS to track the shipment.
Last edited by deant; Oct 5, 2009 at 8:05 pm
Oct 5, 2009, 6:59 pm
#4988
Join Date: Sep 2009
Location: CA
Programs: AAdvantage ExecPlat (LT Plat 2.1 MM),United S, SPG P, Marriott P, Hyatt Diamond *-)-
Posts: 213
Once the system says it has shipped, how long has it taken you to receive the package(s)?
Oct 5, 2009, 7:00 pm
#4989
Join Date: May 2001
Location: RSW/FMY
Programs: All, but no status!
Posts: 754
Wirelessly posted (BlackBerry8830/4.2.2 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/105)
It probably did ship today. Check the tracking number later.
Mine are the same, and I'm expecting them in the morning.
Originally Posted by deant
Checked my order status today and it shows that the order has shipped. Also it has the UPS tracking number however the number does not yet show up in the UPS system. I assume that means that it really did not ship and that it will ship tomorrow.
Mine are the same, and I'm expecting them in the morning.
Oct 5, 2009, 7:11 pm
#4990
Join Date: Sep 2009
Location: Austin TX
Programs: HH Dia, Hyatt Plat
Posts: 442
This is not a bad idea. Did you show up with the coins in hand to open the account? There are a TON of really small banks in my area and I don't need physical checks, just a routing number and an electronic bill payment system. Heck, I'll even keep $500 on hand with them to keep them happy that I'm not just skimming money through their bank.
Also, I figure if I can make the 5K deposits, I should be able to maintain a 5K balance by leaving the coins in the account until the next deposit and then making the CC payment. This should help keep the bank happy as well.
Oct 5, 2009, 8:44 pm
#4991
Join Date: Mar 2005
Posts: 269
I didn't have the coins in hand, because I had not received them yet. I explained that I would like to make regular 5K deposits and told him that the coins were from the mint and would still be wrapped. He went off to discuss with his manager and returned said that they should be able to work it out, said that he thought it was an ingenious idea. He said that he needed to work out the details with the tellers on how to handle the deposits and sent a couple of emails. Everything was positive. Now that I have the first coins in hand I hope to work out the final details and make my first deposit in the next couple of days.
Also, I figure if I can make the 5K deposits, I should be able to maintain a 5K balance by leaving the coins in the account until the next deposit and then making the CC payment. This should help keep the bank happy as well.
Also, I figure if I can make the 5K deposits, I should be able to maintain a 5K balance by leaving the coins in the account until the next deposit and then making the CC payment. This should help keep the bank happy as well.
Oct 5, 2009, 10:12 pm
#4992
Join Date: Feb 2007
Location: SEA
Programs: Delta TDK(or care)WIA, Hilton Diamond
Posts: 1,869
I had one where I got the shipping notice but it didn't ship until the next day; it showed up sometime in the afternoon and arrived the day after that. I called the Mint when it didn't show up (figuring that was what happened) and they couldn't give me any additional information at that point. So to deant, if it doesn't show up tomorrow, don't start really worrying about it unless you still don't see it that evening.
Oct 5, 2009, 11:09 pm
#4993
A FlyerTalk Posting Legend
Join Date: Dec 2000
Location: Shanghai
Posts: 42,045
Another annoying Wells Fargo experience
I received 2500 this morning and needed to get it into the system ASAP because I had a Citi payment due at 2pm. So, instead of driving an extra half mile to my favorite Chase branch, I decided to try my luck at Wells Fargo, which is reasonably cool with coins. While they were happy, if not excited, to take them, they insisted on doing the unwrapping + counting thing.
When all was said and done, the total was 2494 dollar coins and 6 quarters. Rather simply acknowledge that machine had erred, the tellers insisted that there were, in fact, 6 quarters in the lot. In spite of the fact that I only lost 4.50 due to the mix-up, their lack of common sense and refusal to actually look for these 6 mystery quarters left a bad taste in my mouth.
When all was said and done, the total was 2494 dollar coins and 6 quarters. Rather simply acknowledge that machine had erred, the tellers insisted that there were, in fact, 6 quarters in the lot. In spite of the fact that I only lost 4.50 due to the mix-up, their lack of common sense and refusal to actually look for these 6 mystery quarters left a bad taste in my mouth.
Oct 5, 2009, 11:26 pm
#4994
Moderator: Mileage Run, InterContinental Hotels
Join Date: May 2004
Posts: 5,918
When all was said and done, the total was 2494 dollar coins and 6 quarters. Rather simply acknowledge that machine had erred, the tellers insisted that there were, in fact, 6 quarters in the lot. In spite of the fact that I only lost 4.50 due to the mix-up, their lack of common sense and refusal to actually look for these 6 mystery quarters left a bad taste in my mouth.
Oct 5, 2009, 11:36 pm
#4995
FlyerTalk Evangelist
Join Date: Aug 2002
Location: Bay Area, CA
Programs: UA Plat 2MM; AS MVP Gold 75K
Posts: 35,068