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Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping

Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping

Old Nov 10, 09, 6:55 pm
  #6301  
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Originally Posted by dayone View Post
And include that much of the story is very difficult to believe.
Exactly. That is why I said deant Conveniently OMITTED the Most Important Part of the whole bizarre story, not to mention deant himself also ordered coins himself.

Big thanks to Pierre mclopez, such bizarre story is preserved, even if drumdrum edits it out his posts later. The quote feature on FT is great to preserve information posted!

Last edited by Happy; Nov 10, 09 at 7:23 pm Reason: grammar
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Old Nov 10, 09, 7:05 pm
  #6302  
 
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Wrong to take advantage of this

I don't know... You guys are just greedy to take advantage of this program. It defeats the purpose of trying to get these coins out in circulation and what you are getting for free now just comes back to you in the form of taxes later on.
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Old Nov 10, 09, 7:22 pm
  #6303  
 
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Originally Posted by Happy View Post
Exactly. That is why I said deant Conveniently OMIT the Most Important Part of the whole bizarre story, not to mention deant himself also ordered coins himself.

Big thanks to Pierre mclopez, such bizarre story is preserved, even if drumdrum edits it out his posts later. The quote feature on FT is great to preserve information posted!
Happy;

As I have said before, I have ordered LIMITED quantities of coins. In the post that you refer to I did NOT express ANY of my ideas or beliefs. If I wanted to I would have written the post completely differently. It was not "convenient" that I left out part of drumdrum's activities of having $20K "stolen". I don't know if that happened or not. None of us have enough knowledge to make that determination.

I think it is time we all get back to the basics of FT and stop trying to attack people. Everyone has their own ideas, philosophies and morals. I may not agree with yours and you may not agree with mine. So be it.
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Old Nov 10, 09, 7:24 pm
  #6304  
 
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Originally Posted by usagishouse View Post
I don't know... You guys are just greedy to take advantage of this program. It defeats the purpose of trying to get these coins out in circulation and what you are getting for free now just comes back to you in the form of taxes later on.
That being said, please realize that many of us HAVE used the coins. Were it not for FT and Fatwallet, far fewer coins would have made it into circulation.
Granted many were deposited in banks, but lets be honest. When I drive thru Mickey D's and use a few NAs to pay for a coke, do you really think that they give the coins back out in change? Or is the more likely scenario that they get thrown into the deposit bag that night and deposited into the local bank anyway, just being used that one time? Thats my thoughts. But, and this is a big but, far more coins have been put into circulation than ever would have been by this so called scheme. Many people (including myself) carry a roll with us to pay in tips, small purchases, meters etc.

FTers have just taken advantage of an opportunity that presented itself. Nothing illegal, nothing immoral. We followed the rules, some to a greater degree than others, but still. Nothing wrong.
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Old Nov 10, 09, 7:28 pm
  #6305  
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Originally Posted by deant View Post
Happy;

As I have said before, I have ordered LIMITED quantities of coins. In the post that you refer to I did NOT express ANY of my ideas or beliefs. If I wanted to I would have written the post completely differently. It was not "convenient" that I left out part of drumdrum's activities of having $20K "stolen". I don't know if that happened or not. None of us have enough knowledge to make that determination.

I think it is time we all get back to the basics of FT and stop trying to attack people. Everyone has their own ideas, philosophies and morals. I may not agree with yours and you may not agree with mine. So be it.
You gave "reasons" to nwa30 about WHY drumdrum was against the program. - that is a JOKE by itself in light of said person has only been vocal AFTER his accusation of the Mint program is a scam.

Instead of telling the WHOLE story as it was posted - you chose to only refer to the part that suits your view. And I feel the whole story is WORTHY to point out to others, esp nwa30 seemingly seemingly has no idea of the whole bizarre story.

You dont know whether it is true / dont believe what drumdrum's bizarre story of $20K stolen, yet you believe his view points about wasting resources and choose that to support your own point of view. I find this really ironic.

It is simply not logical that a person ordered $20K and then became extremely hostile after the bizarre theft (or a make-believe story), after that he suddenly turned to be so concerned with the wasted resources...

We dont have to agree with each other at all - but at least we should be FAIR to each other and not to just pick and choose portion of a story that supports one's own view. A coin has 2 sides and both sides need to be shown.

Last edited by Happy; Nov 10, 09 at 7:38 pm
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Old Nov 10, 09, 7:28 pm
  #6306  
 
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This is all so entertaining!!
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Old Nov 10, 09, 7:34 pm
  #6307  
 
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Originally Posted by Happy View Post
You gave "reasons" to nwa30 about WHY drumdrum was against the program. - that is a JOKE by itself in light of said person has only been vocal AFTER his accusation of the Mint program is a scam.

Instead of telling the WHOLE story as it was posted - you chose to only refer to the part that suits your view. And I feel this part is WORTHY to point out to others, esp nwa30 seemingly seemingly has no idea of the whole bizarre story.

We dont have to agree with each other at all - but at least we should be Fair to each other and not to just pick and choose portion of a story that supports one's own view. A coin has 2 sides and both sides need to be shown.
You, and others, conveniently, have only posted what supports their view. Did you attack them for not telling the entire story??????? Of course not. If you really wanted to show both sides of the coin you would have corrected THEIR post.

Also, there are ways to ADD to a story or post of information. You provide ADDITIONAL information - you do not need to attack the poster that tried to provide the information that was requested.

Again, let's get back to the basics of FT and stop attacking other people.

Last edited by deant; Nov 10, 09 at 7:56 pm
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Old Nov 10, 09, 7:40 pm
  #6308  
 
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Originally Posted by balima View Post
That being said, please realize that many of us HAVE used the coins. Were it not for FT and Fatwallet, far fewer coins would have made it into circulation.
Granted many were deposited in banks, but lets be honest. When I drive thru Mickey D's and use a few NAs to pay for a coke, do you really think that they give the coins back out in change? Or is the more likely scenario that they get thrown into the deposit bag that night and deposited into the local bank anyway, just being used that one time? Thats my thoughts. But, and this is a big but, far more coins have been put into circulation than ever would have been by this so called scheme. Many people (including myself) carry a roll with us to pay in tips, small purchases, meters etc.

FTers have just taken advantage of an opportunity that presented itself. Nothing illegal, nothing immoral. We followed the rules, some to a greater degree than others, but still. Nothing wrong.
When someone orders over $300K of coins in one month do you think they are spending these at Mickey D's????? When someone "deposits" an unopened box of $2,500 in coins, do you think there is any attempt to put the coins "in circulation"?

This is what I believe most of the objections are about.

If you are spending coins at the local market or store, or giving it as change in your business, that is what the mint wants and why they have the program.

Last edited by deant; Nov 10, 09 at 7:50 pm
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Old Nov 10, 09, 7:49 pm
  #6309  
 
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I understand your point of view

Originally Posted by usagishouse View Post
I don't know... You guys are just greedy to take advantage of this program. It defeats the purpose of trying to get these coins out in circulation and what you are getting for free now just comes back to you in the form of taxes later on.
but I think you are overlooking

#1 - the Mint is producing coins of various quantities of each denomination per Congressional mandate. So our orders do not influence the number of coins minted - Congress already specified the amount;
#2 - normally the Mint sends these coins to the Fed for distribution to the banks in accordance with the amounts ordered by the banks. The rest of the coins remain in the Fed's vault. By depositing the coins in the bank we are accomplishing the fulfillment of the banks' orders for them;
#3 - FTers and FWers are merely intervening between the Mint and the Fed - quite possibly the same number of coins wind up in the Fed's vault [less a small amount spent by individuals ordering them];
#4 - yes, the Mint is paying for overnight air shipment to the individuals. But have you considered that the Mint also has to pay shipping charges to send coins to the Fed? In that case, I would imagine that the costs would be fairly approximate - instead of sending the coins via UPS overnight air, the Mint has to send the coins via armored tractor trailers / air transport with accompanying armed guards. And, the Mint has to "pay" for that transportation expense to send to all of the Fed's receiving vaults across the country;
#5 - so, the only difference is a minor change in shipping [heck, it may even be in the Mint's favor!]. And you really think that Congress, the GAO, and OMB will put time in to "raise our taxes" over that ??
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Old Nov 10, 09, 7:53 pm
  #6310  
 
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Just curious . . .

Originally Posted by drumdrum View Post
My Congressman relayed to me today that he has been conversing with the US Mint public relations rep. He was told that all the questions he posed concerning the flaws in the direct ship program that allowed manipulation and arbitrage would be answered and addressed soon. The email goes on to say that ...."some major changes have already been made which have been implemented and there will be more guideline changes in the immediate future". I will link up a copy of the email shortly I am waiting on permission to do so from their office.
[my emphasis added]

but do any of these individuals have names?
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Old Nov 10, 09, 7:56 pm
  #6311  
 
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Sounds like drumdrum is a fraud. He wanted to play, then claimed fraud and now wants to take his ball and go home. I'll keep turning coins while he sits around and cry's. The moderators should revoke his MileBuzz forum privileges.
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Old Nov 10, 09, 7:57 pm
  #6312  
 
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Originally Posted by deant View Post
When someone orders over $300K of coins in one month do you think they are spending these at Mickey D's????? When someone "deposits" an unopened box of $2,500 in coins, do you think there is any attempt to put the coins "in circulation"?

This is what I believe most of the objections are about.

If you are spending coins at the local market or store, that is what the mint wants and why they have the program.
What I object to is someone stating that if you buy coins from the US Mint and deposit them back it is "immoral." There is nothing immoral or illegal about what many are doing here. But what really aggravates the situation, is someone who had ordered $20,000 coins himself, with the intent to deposit them right back to get points or miles, telling us that it is "Immoral and a scam". I'm sure he wasn't going to buy cokes at McDonalds with them. Even though, he will probably now reply, after his "epiphany" that he had some legitimate way to put them in circulation. Now he is the "Moral Police" for FT.

Cheers!

Last edited by ejs621; Nov 11, 09 at 9:42 am
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Old Nov 10, 09, 8:01 pm
  #6313  
 
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Originally Posted by travis bickle View Post
but I think you are overlooking

#4 - yes, the Mint is paying for overnight air shipment to the individuals. But have you considered that the Mint also has to pay shipping charges to send coins to the Fed? In that case, I would imagine that the costs would be fairly approximate - instead of sending the coins via UPS overnight air, the Mint has to send the coins via armored tractor trailers / air transport with accompanying armed guards. And, the Mint has to "pay" for that transportation expense to send to all of the Fed's receiving vaults across the country;
[/I]
However, the banks need to then pay for the cost for armored transportation to the Fed. A double shipment instead of a single shipment. You also have the cost for the bank to handle the coins. As I am sure you are aware, anytime you have to handle an item it costs money.

You also need to consider that any dollar coin armored shipments would be combined with other coin shipments so the transportation costs would be reduced.
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Old Nov 10, 09, 8:16 pm
  #6314  
 
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how is there a double shipment?

Originally Posted by deant View Post
However, the banks need to then pay for the cost for armored transportation to the Fed. A double shipment instead of a single shipment. You also have the cost for the bank to handle the coins. As I am sure you are aware, anytime you have to handle an item it costs money.

You also need to consider that any dollar coin armored shipments would be combined with other coin shipments so the transportation costs would be reduced.
my bank takes my coins and adds them to whatever else they had intended to send via armored car = one shipment only.

and, your own last paragraph tells me you agree --- since my coins are now being added to an already scheduled armored car shipment, there is no additional charge.
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Old Nov 10, 09, 8:18 pm
  #6315  
 
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Originally Posted by nwa330 View Post
Sounds like drumdrum is a fraud. He wanted to play, then claimed fraud and now wants to take his ball and go home. I'll keep turning coins while he sits around and cry's. The moderators should revoke his MileBuzz forum privileges.

I have a strong suspicion that drumdrum is trying to cheat either UPS or the US Mint out of the $20,000 that he claims was stolen. It may end up that UPS will just think it is easier to settle rather than fight drumdrum. I wonder if drumdrum is simply using this forum as "evidence" to verify that he is an active US Mint buyer for any potential lawsuit he intends to file.

If there's smoke...
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