mile ho

I'm grateful for this program.

It's a great way to earn miles ... but every time I get a shipment, I keep a good number of coins for everyday use.

I hope everyone else is doing the same.

Good for me and good for our country.

HoKo

I apologize if this is a repost but I've read through a good portion of this thread and the sticky FAQ and haven't found an answer. For the $1k every 10 days limit does the 10 day counting period begin the day you order, the day they ship to you, the day you receive the shipment?

I also noticed someone with a SPG AMEX mentioning that he was contacted by AMEX and told that if he didn't stop buying coins they were going to close his account. Has anyone else experienced this?

Thanks!

deant

Not a definitive answer, but have you looked at post 9072?

swintec

I dont buy that. If it is a "game-like" reason like that the bank may be less willing to take them. Are you more likely to help a person if you know they are just screwing off, and creating more work for you? Of course not.

To be honest there is no reason to tell them anything. How would you feel if they asked where and how you got each check you brought into cash? I suppose if you are trying to act like a big shot and impress someone for attention (or maybe take one of the cute tellers out on a trip with yuor points ) then it may pay to come clean. Lord knows we have had our fair share of asttention seekers for this deal.

When I get asked I simply say the mint and smile. Some think I am being a smart a$$ and let it go, others ask "Whats the mint?" I can not tell you how annoying that has gotten. Apparently now a days younger tellers have no clue about the currency they handle every day. Ahh well.

buschoi

I really don't trust the backordered date IMHO. Sometimes the coins are shipped the next day. Sometimes the Mint pushes the backorder date several times. So I just place my order and so be it. When they are shipped, I will then get a shipment notification email and a delivery phone call from UPS. This happened even before the Mint implemented the household limit.

Johnny Rocket

Does anyone here use the E-Certificates?

If so, does it make it more likely that the Mint will ship your order and NOT reject it?

My thinking is that if you have already given them your money there should be no question over what you should be able to purchase (after all, it's a gift certificate!)

Nontheless, I'd be pretty wary about handing over my money only to be stuck in the position of not being able to use it up because of their "limits".

mrpickles

What part of limit are you having trouble understanding?

Izzy24

I have placed two orders this billing cycle, one showed up as "OFC Dollar Coin" and the other "US Mint Coin Sales."

jschner

For over a year I've been reading threads such as this one about using a credit card to order coins from the mint, but I still don't understand the appeal.

The mint website states that "there is a 4-box $1 coin limit for every 10-day period on any and all $1 coin orders. Beyond that your credit card will not be authorized."

So, with a 2% cash back Schwab card for instance, that's $20 every ten days (assuming perfect execution every ten days, no backorders, etc.) for hanging around hoping to catch UPS when they come and taking the 20 lb box to one or more banks and hopefully convincing them to deposit it for you.

Anyone with a degree from an unknown college can make this much working just one hour at a very bad job.

The mint website also states: "The immediate bank deposit of $1 coins ordered through this Program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the Program."

So while this may work, there is some risk that the mint will eventually refuse a buyer's orders. Or, as noted in lots of prior posts, there are concerns that the CC won't actually honor the transaction for cash back or points or that the bank will refuse the deposit or hassle the depositor.

So why screw with this?

Is this a thread for guys living in a trailer park playing the system for cigarette change?

I mean, is there a way to truly profit at this ($3K+ a month let's say) or rack up enough miles (10K+ a month let's say) to make it worthwhile?

Can someone enlighten me please? Why do this(??)

lovetotravel

If after a year of monitoring this thread and 9188 posts before yours, you have not figured out the "appeal"or "benefit" or why people do this, then why post now,.... this does not seem to be for you...move on...I certainly don't appreciate the insults you are throwing at us, as I bolded above. You obviously have a degree from a better college and are not "living in a trailer park working the system for cigarette change".

PIONEER

I agree that the cash back may not be worth the trouble for everybody. In my case, I'm looking to get a few thousand extra FF miles to put me over the top for a couple of tickets. And I do try to circulate the coins.

mrpickles

I admit it. I live in a 5200 sq. ft trailer with 6 bedrooms and 7 bathrooms. It has 17 telephone extensions and 2 laundry rooms. It is so big that I have to pull it with my 2 Range Rovers. I will send you a postcard from my free 3 week vacation at the St Regis Bali paid for completely with SPG Points.

Maybe you will then understand.

jschner

So how did you do that just buying from the mint and how long did it take?

mrpickles

You have to read all 9k posts.

jschner

Look, I don't want to offend anyone. Nor am I trying to be a smart .... But I also don't think this is an unreasonable or an off topic question.

I understand that some folks may appreciate a few extra dollars or miles or points -- but is there a substantial benefit here for someone earning, say, a middle class income?

I never carry a balance but put about $6K to $8K a month in expenses through a Schwab 2% cash back Visa. So I could easily get a 30K bonus mile CC and meet the the issuer's spending requirement. But doing that over-and-over again would adversely affect my credit score unless I began playing the complex credit games (detailed elsewhere in FT) which involve some very careful scheduling and almost amount to another full time job. In fact, I've wondered how the brilliant guys who play those credit scoring games with multiple CCs can ever get away from their mailbox long enough to actually travel or why they don't apply their intelligence to something far more lucrative.

Bottom line is I can't see how US Mint $1 coin direct ship purchases can amount to more than $40 to $60 a month (with considerable effort and some risk) or a 30K mileage bonus once, maybe twice, a year (and a possible hit to your credit score).

Is that all there is to this or are more substantial benefits possible?