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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 Mar 18, 10, 7:05 pm
  #8236  
 
Join Date: Mar 2008
Posts: 232
Originally Posted by AlohaDaveKennedy View Post
7. Toll booths
8. Charity boxes in airports.
9. Buying goods in a Central American nation that uses dollars as currency
10. Table tips
So, you get weird looks when you use US Dollars in the USA and you expect the coins to be readily accepted in Central America.

... Not to mention the excess fees you'll have if you check-in $5,000 worth pf dollar coins into the plane.
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Old Mar 18, 10, 8:40 pm
  #8237  
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Originally Posted by olwagner View Post
So, you get weird looks when you use US Dollars in the USA and you expect the coins to be readily accepted in Central America.
Actually, that's one of the places the US dollar coin has been successful.
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Old Mar 19, 10, 12:22 pm
  #8238  
 
Join Date: Oct 2009
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Been There, Unloaded That

Not suggesting you carry 100 pounds of Pelosi Pennies on the plane. Just bring a bunch in the carry on. Found no problem assisting the mint with coin distribution in Nicaragua. So get your TACA card with the 20K signup bonus, look for the right flight, and head on down!

Originally Posted by olwagner View Post
So, you get weird looks when you use US Dollars in the USA and you expect the coins to be readily accepted in Central America.

... Not to mention the excess fees you'll have if you check-in $5,000 worth pf dollar coins into the plane.
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Old Mar 19, 10, 6:41 pm
  #8239  
 
Join Date: Dec 2009
Posts: 5
I was denied to deposit and then denied to purchase travelers checks

The N.C. State Employees Credit Union denied me the deposit of $1 coins today. Also, was denied the ability to purchase travelers checks.

Rather perplexed that they can deny me a transcation with legal tender! However, after contending with several "supervisors" they all ended with the same: Mr. Parsimonious, we will no longer be accepting $1 coins from YOU! I have requested this policy in writing, we'll see if they produce it.

Any advice?
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Old Mar 19, 10, 7:02 pm
  #8240  
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Don't fight. Hang up and call back and talk to another rep. Ops, that's advice for calling customer service at Citi when you have a problem.

Why not just go elsewhere? You are very unlikely to win a battle like this with a credit union--and, why bother? Demanding a written policy from a credit union employee is unlikely to result in a good result here.

But, good luck.

PS If you read this thread (put aside several weeks) you would discover that they don't have to take your coins--legal tender or not.
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Old Mar 19, 10, 7:21 pm
  #8241  
 
Join Date: Feb 2006
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Originally Posted by rodneywkr View Post
The N.C. State Employees Credit Union denied me the deposit of $1 coins today. Also, was denied the ability to purchase travelers checks.

Rather perplexed that they can deny me a transcation with legal tender! However, after contending with several "supervisors" they all ended with the same: Mr. Parsimonious, we will no longer be accepting $1 coins from YOU! I have requested this policy in writing, we'll see if they produce it.

Any advice?
I believe banks can deny anybody service, but it doesnt sound right, but what about opening or going to another bank just for this deposit purposes and possible getting miles for opening an account.
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Old Mar 19, 10, 7:26 pm
  #8242  
 
Join Date: Dec 2009
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Originally Posted by yuel View Post
I believe banks can deny anybody service, but it doesnt sound right, but what about opening or going to another bank just for this deposit purposes and possible getting miles for opening an account.
I did go to another bank and make the deposit.... However, I didn't think the bank could deny the purchase of TC's... these coins are legal tender, therefore how can they deny them?
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Old Mar 19, 10, 7:27 pm
  #8243  
 
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Originally Posted by rodneywkr View Post
The N.C. State Employees Credit Union denied me the deposit of $1 coins today. Also, was denied the ability to purchase travelers checks.

Rather perplexed that they can deny me a transcation with legal tender! However, after contending with several "supervisors" they all ended with the same: Mr. Parsimonious, we will no longer be accepting $1 coins from YOU! I have requested this policy in writing, we'll see if they produce it.

Any advice?
Why did they single you out? How much were you trying to deposit and how many times did you deposit at the same branch?
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Old Mar 19, 10, 7:33 pm
  #8244  
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Originally Posted by rodneywkr View Post
Rather perplexed that they can deny me a transcation with legal tender!
No reason to be perplexed. Coins must be accepted as legal tender for debts and obligations. Purchases and deposits are at the discretion of the receiving party.

Originally Posted by yuel View Post
I believe banks can deny anybody service
You are correct.
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Old Mar 19, 10, 9:13 pm
  #8245  
 
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Date Shipped: 3/19/10
Amount Charged : 12000.00

Items included in this shipment:
2010 NATIVE AMERICAN $250 BOX $1 COINS (N04) Qty : 48

Car wash distribution program at my two Southern California locations continues to go pretty well, with rejection rates by customers remaining in the 30% to 40% range. Have not yet expanded to the Bay Area car washes because of the difficulty in getting the coins up there (I dont ship them direct to location).

Based on the last 2 months, I can move about $10k in coins every 4 weeks or so!
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Old Mar 19, 10, 9:21 pm
  #8246  
 
Join Date: Dec 2009
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Originally Posted by buschoi View Post
Why did they single you out? How much were you trying to deposit and how many times did you deposit at the same branch?
I was depositing $2500, the day before deposited total of $4000 between two diff branches. I prob have deposited total of $60K at this bank and that spread out between 2 diff locations
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Old Mar 19, 10, 9:23 pm
  #8247  
 
Join Date: Dec 2009
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Originally Posted by dayone View Post
No reason to be perplexed. Coins must be accepted as legal tender for debts and obligations. Purchases and deposits are at the discretion of the receiving party.


You are correct.
I asked if they would accept if I was making pmt on CC or mortg. and they said NO MATTER what they would not accept coins from me again! I was under the impression that they HAD to accpet if I was purchasing something. That was the premise for attempting to buy TC once I was denied the deposit
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Old Mar 19, 10, 9:54 pm
  #8248  
 
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Originally Posted by rodneywkr View Post
I asked if they would accept if I was making pmt on CC or mortg. and they said NO MATTER what they would not accept coins from me again! I was under the impression that they HAD to accpet if I was purchasing something. That was the premise for attempting to buy TC once I was denied the deposit
I believe this has all been laid out before but to summarize:

Depositing coins into account: They can refuse the deposit, they cannot however charge a fee for the deposit unless they disclose the fee in writing.

Making a purchase: They can refuse to accept payment in coins. Common practice, many places refuse to accept $50 and $100 dollar bills.

Paying a debt, CC or mortgage: They have to accept the coins as legal tender, however, they can make it painful by say counting each coin individually, etc.
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Old Mar 19, 10, 10:22 pm
  #8249  
 
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Originally Posted by benmaller View Post
I believe this has all been laid out before but to summarize:

Depositing coins into account: They can refuse the deposit, they cannot however charge a fee for the deposit unless they disclose the fee in writing.

Making a purchase: They can refuse to accept payment in coins. Common practice, many places refuse to accept $50 and $100 dollar bills.

Paying a debt, CC or mortgage: They have to accept the coins as legal tender, however, they can make it painful by say counting each coin individually, etc.
For paying a debt (CC), has anyone taken the coins to the issuing bank of their CC to pay it off directly?
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Old Mar 19, 10, 10:29 pm
  #8250  
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Originally Posted by rodneywkr View Post
I did go to another bank and make the deposit.... However, I didn't think the bank could deny the purchase of TC's... these coins are legal tender, therefore how can they deny them?
Yes they can. They can determine which type of legal tender they accept.

Only when paying debts that any legal tender must be accepted.
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