FriendlySkies

I received my first order today, and took it in to my local bank. When I arrived, they mentioned how they had multiple people asking for dollar coins, and that this was great help. Glad to see that I am actually doing what the mint asks about recirculating the coins..

benmaller

Agreed, there are multiple reasons why a card may be declined. I myself have entered the wrong cc info and had the cc company deny the charge. What I'm am specifically referring to is what I've seen happen (to me and to others I am familiar with) when you violate the 10 day rule on the same CC number. In this case it appears that the mint never authorizes the card at all.

Astrophsx

Actually, I found that living in the burbs to be a huge plus. They often open new banks on the outskirts of town that get little to no business each day for the first year or two until the area is fully developed around them. I found a credit union that only gets about one to two customers every few hours. I would highly suggest looking for these types of branches... they enjoy the frequent visits. I think they also enjoy telling other customers about this crazy guy who brings in lots of coins

Stoughton

Got that, but they insist on them being broken down. They're a slow mover here so deposits often end up going back to the fed.

ARedLetterDay

I agree with earlier posters - cultivating a good relationship with your banker is absolutely key not only to this particular issue, but to having a good banking experience in general. We've moved all of our accounts to the neighborhood Chase branch and are absolutely delighted with the personalized service we get every time we go in. They are more than happy to get the dollar coins from us at $1000 a pop because they say they have customer requests and can't get them themselves.

If anyone's interested, the proposal I posted some time back about using a miles-branded *debit* card to purchase from the Direct Ship program has been working like a charm. At an interest rate of 0.02% I'm losing essentially no interest for every 1K miles gained. I always receive a heads-up from UPS that the shipment is on its way and, since my partner is retired, we can always make sure he's at home to sign for it and take it straight on to the bank.

We also enjoy having plenty of the coins for our own use. We do use them liberally.

bylin2000

not sure if this has been asked before, but will all presidential coins one day be on the direct ship program? is it just slower to be added on the program or something?

i realize there's only the first few presidents available as direct ship, whereas they have released a lot more for collection purposes (for additional cost per roll)

deant

I suspect that your crystal ball is just as good as anyone's on FT.

FriendlySkies

Just want to confirm. With the $1000 / 10 day limit. I assume I can place four orders of $250 over the ten days? I only ordered $250 for my first "go-round", but would like to order another $750..

AsanteSana

Yes, this is doable

Watchful

Disregard

Marathon Man

Ok maybe this has happened to other people and at other banks, but today when I waltzed in to my local BofA today with $3k in coinage where the tellers know me and have a handle on why I do this, I was told that going forward, this branch will have to put your name on the ticket associated with coins being sent out to the Fed. This will generate a fee I must pay.

In fact, the branch manager who was acting teller for the day told me, we had to do this for your $5k deposit yesterday too. Ones from the days prior will not be assessed any fee as far as she could tell.

She went on to say she has no idea yet what this fee will be or how they will assess it, but it will come out of my checking acct.

I hope it's NOT the same caliber as say, a cash advance fee on $8,000!

This puts a damper on the whole shootin match to be honest.

All things have a cost and until now, mine had been similar to all of yours:

PO box fees or the inconvenience of having to be at home when UPS arrives
lifting and stacking and moving boxes from A-B
being sure everything was there in your order
tracking a spreadsheet
waiting on things and repeating things and managing your money.

Now, the pains I am hearing from people who get charged cash advance fees or have other blockers in their worlds plus this added new fee thing from BofA are making me rethink the whole game.

Another BofA I frequent told me they may have to start charging as well.

I will report any fees or findings once I have the info.

MM

GoingAway

Banks can't charge fees "of some amount" at "some point" ... there is required disclosure and communication. Push back until they can give you a document stating the fees and terms. I'm not a BofA fan anyway, but you might want to be looking for a different bank as well.

Marathon Man

I thought of that but with whom do I 'push back' and how? If I start calling the bank's higher ups, I raise red flags at some level. If I push with the branch itself they can only know or tell me so much.

As for my bank choice, yeah, I know what you mean, but it is convenient to where I am and where I go. Other banks--even ones across the street are mostly local and small offices that probably have even less ability to take in the kind of coin money I'd be bringing them. It comes down to them eventually figuring I'm up to something and so they have to charge me for it.

one must basically just get lucky. I was for a while.

cordelli

deleted

FriendlySkies

+100

Looking for a different bank sounds like a good idea.