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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 Oct 20, 08, 12:36 am
  #961  
 
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Won't accept coins

Had an experience over the weekend that I could scarcely believe. I took two rolls of dollar coins, along with paper cash to my local US Post Office to buy a $200 money order. The postal clerk called the post master to the counter to ask about the dollar coins. The post master told me they would not accept the dollar coins, because they were difficult for them to handle and get to the bank for deposit. Again, I'm talking about $50 in coins....not like I was trying to drop $500 in coins on them.

I was speechless, and asked how a US Post Office could possibly refuse to accept legal tender of the United States? She(the post master) told me to just take them to the bank and have them changed. I pointed out that the stamp machines dispense them as change, and she told me that if the guy who services the machines was there, he could take them, but she(the post master) just said again, "no, we wont accept them."

I really couldn't believe it.
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Old Oct 20, 08, 12:44 am
  #962  
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Originally Posted by elrico View Post
I was speechless, and asked how a US Post Office could possibly refuse to accept legal tender of the United States?
Unlike private businesses, the postmaster probably violated the law by not accepting them:
http://frwebgate.access.gpo.gov/cgi-...=f:publ145.109
Section 5112 of title 31, United States Code, as amended by sections
102 and 103, by adding at the end the following:
``(p) Removal of Barriers to Circulation of $1 Coin.--
``(1) <<NOTE: Effective date.>> Acceptance by agencies and
instrumentalities.--Beginning January 1, 2006, all agencies and
instrumentalities of the United States, the United States Postal
Service, all nonappropriated fund instrumentalities established
under title 10, United States Code, all transit systems that
receive operational subsidies or any disbursement of funds from
the Federal Government, such as funds from the Federal Highway
Trust Fund, including the Mass Transit Account, and all entities
that operate any business, including vending machines, on any
premises owned by the United States or under the control of any
agency or instrumentality of the United States, including the
legislative and judicial branches of the Federal Government,

[[Page 119 STAT. 2670]]

shall take such action as may be appropriate to ensure that by
the end of the 2-year period beginning on such date--
``(A) any business operations conducted by any such
agency, instrumentality, system, or entity that involve
coins or currency will be fully capable of accepting and
dispensing $1 coins in connection with such operations;
and
``(B) displays signs and notices denoting such
capability on the premises where coins or currency are
accepted or dispensed, including on each vending
machine.
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Old Oct 20, 08, 5:22 am
  #963  
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I guess the US Postal Service didn't get the memo that the US Mint wants the public to use the coins.
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Old Oct 20, 08, 5:28 am
  #964  
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Here's a question to all coin buyers:

Where are you storing these coins?

I have deposited most of the coins at the bank, but between the time from receiving the coins to taking them to the bank, I couldn't find a suitable place to stash the coins in my messy home office for fear or losing track of them. They are real money after all, not just paperwork. So I actually put the box of coins under my bed.
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Old Oct 20, 08, 7:30 am
  #965  
 
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I've been using my coins at a few shopping places. I paid for a few items at Sam's club(which does not take AMEX), Dunkin Doughnuts, the local gas station and the company cafe. Everyone has taken them without a second glance. I did ask the lady at Sam's if she gets a lot of the coins and she said no because everyone just saves them. I've got a LOT of them so get ready to see a BUNCH.

LS
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Old Oct 20, 08, 7:55 am
  #966  
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Originally Posted by ChaseTheMiles View Post
I guess the US Postal Service didn't get the memo that the US Mint wants the public to use the coins.
Originally Posted by soitgoes View Post
Unlike private businesses, the postmaster probably violated the law by not accepting them:
http://frwebgate.access.gpo.gov/cgi-...=f:publ145.109
well I would contact the pm general on this one. My po was not willing to take $500 from me but they said they'd certainly have accepted rolls of say $25 or $50 for regular transactions--especially if they were rolled.

To be inconsistent (as the above poster's PO seems to have been) is bad enough, but to not accept them is not legal. and yeah, he was trying to use them like money, not just cash huge amounts like a churn

Originally Posted by ChaseTheMiles View Post
Here's a question to all coin buyers:

Where are you storing these coins?

I have deposited most of the coins at the bank, but between the time from receiving the coins to taking them to the bank, I couldn't find a suitable place to stash the coins in my messy home office for fear or losing track of them. They are real money after all, not just paperwork. So I actually put the box of coins under my bed.
I keep them in the boxes away from the kids on the shelving unit in the home office near the cubby I keep my wallett and keys in. I cash them out quickly.
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Old Oct 20, 08, 11:09 am
  #967  
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Dollar Coins Are Patriotic-USA Today

A long story in USA Today about the dollar coin program and how much money it could save the government--no mention of miles.

http://www.usatoday.com/money/advert...s_N.htm?csp=34
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Old Oct 20, 08, 11:13 am
  #968  
 
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Originally Posted by biggestbopper View Post
...no mention of miles.
Let's keep that "under the covers", or - as some FT'ers are doing with the coins - under the bed!

Last edited by SuperFlyBoy; Oct 20, 08 at 11:14 am Reason: added info...
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Old Oct 20, 08, 3:33 pm
  #969  
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Originally Posted by SuperFlyBoy View Post
Let's keep that "under the covers", or - as some FT'ers are doing with the coins - under the bed!
while we remain atop the milesbuzz thread list

I am curious, however, if the words, "and some people are buying them in bulk with mileage earning credit cards so they can just cash them in and still get the air miles but use the new cash to simply pay their credit cards back on time interest free..." would have had any real effect if they somehow were mentioned in the article. I mean, what's the mint going to do, cancel the program or make a shipping charge become existent? If it does that, their bold move to get them into circulation will not work as easily, will it?...
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Old Oct 20, 08, 4:22 pm
  #970  
fti
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Just deposited my $2500 of $1 coins at my local bank. They weighed a ton!

Originally Posted by LastSurvivor View Post
I paid for a few items at Sam's club(which does not take AMEX),
Technically, Sam's doesn't take AmEx. But an easy workaround is to go to Wal Mart, buy a gift card with AmEx then use the Wal Mart gift card at Sams.

John
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Old Oct 20, 08, 5:59 pm
  #971  
 
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Originally Posted by fti View Post
Just deposited my $2500 of $1 coins at my local bank. They weighed a ton!
Technically, Sam's doesn't take AmEx. But an easy workaround is to go to Wal Mart, buy a gift card with AmEx then use the Wal Mart gift card at Sams.
John
I've done that a few times but I'm honestly trying to stick with the spirit of the program and pay some things with the coins where I cannot use my AMEX. My walmart is close to Sam's but I just find parking a hassle to go in and get a gift card then drive to Sam's. Not much difference in getting a Walmart card for miles or getting coins for miles imho.

Thursday I'm paying my power bill with 4 rolls of coins and my property tax with the rest of my first shipment. Wonder how that will go?

LS
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Old Oct 20, 08, 7:28 pm
  #972  
 
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Originally Posted by LastSurvivor View Post
Thursday I'm paying my power bill with 4 rolls of coins and my property tax with the rest of my first shipment. Wonder how that will go?

LS

Oh please post the results of this! No matter what happens, I can't help but assume there will be humor in the story
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Old Oct 20, 08, 7:59 pm
  #973  
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Originally Posted by LastSurvivor View Post
Thursday I'm paying my power bill with 4 rolls of coins and my property tax with the rest of my first shipment. Wonder how that will go?
Hope you live somewhere like me, where that property tax assessment is less than $600 per year . . .
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Old Oct 20, 08, 8:09 pm
  #974  
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Originally Posted by LastSurvivor View Post
I've done that a few times but I'm honestly trying to stick with the spirit of the program and pay some things with the coins where I cannot use my AMEX. My walmart is close to Sam's but I just find parking a hassle to go in and get a gift card then drive to Sam's. Not much difference in getting a Walmart card for miles or getting coins for miles imho.

Thursday I'm paying my power bill with 4 rolls of coins and my property tax with the rest of my first shipment. Wonder how that will go?

LS
you could order the walmart card online, right? If there's no shipping on that, then you just need to pay with amex online and not have to park.

or, when going to a costco or sams, use a mileage earning debit card. BofA has one. It earns less miles but it is decent for such events./

where does one pay the power bill in cash? Mine is to national grid, by mail or EFT only. No CCs
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Old Oct 20, 08, 8:15 pm
  #975  
 
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Originally Posted by LastSurvivor View Post
I've done that a few times but I'm honestly trying to stick with the spirit of the program and pay some things with the coins where I cannot use my AMEX.
I fully agree. I find the coins very easy to use for small (<$20 amounts), and the looks on some of the faces are priceless!
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