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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 Dec 28, 10, 5:32 pm
  #12091  
 
Join Date: Oct 2009
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Originally Posted by Astrophsx View Post
For some, but I have a card that can get 5% back on that loaf of bread... or better yet if the employee at the grocery store doesn't know any better I can also get that 5% back on a money order.
Yea and I have a card that gives 5% on the coin purchases to but we arent discussing what cards give what here.
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Old Dec 28, 10, 5:38 pm
  #12092  
 
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Originally Posted by Astrophsx View Post
Just would like some ideas. Usually I develop a good relationship with a bank by asking the bank manager if this is alright to do, and they usually never ask me why I'm doing it they just give me a straight answer. I think that the tellers at this particular bank just do not like changing out the coin bags, even though there are 5 on this particular machine. They tried to tell me that they had to schedule an early pick up, but I replied that last time I was in only 1 of the 5 bags was full and that from what I was told only schedule a pick up when it is needed.
If they close your account at one, they close it at all branches. There is also no reason you should tell them what you are doing beyond simply purchasing them. They are not going to take kindly to being the one who has to shoulder the cost of your hobby when you tell them you are just doing it for the miles.

if you get into it with them you should already be able to tell what the outcome will be...account closure. Make them squirm and press them on why it is such a big deal. They are a bank after all, and banks handle US currency. if you went in with checks written in these amounts it wouldnt be a problem. They always seem to try and avoid saying it is a money factor and will use every other excuse. "Improper use of account" and other BS like that.
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Old Dec 28, 10, 5:40 pm
  #12093  
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Originally Posted by astrophx
She said that the branch manager had reviewed my account and saw that all I was doing is depositing and then spending the money to pay off my credit card. I told her to have the branch manager call me tomorrow
Is that really all you're using the account for? If so, I'm surprised they haven't shut it down already. If you also processing your normal bills, etc through there they'd be less likely to lose you as a customer, IMO.
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Old Dec 28, 10, 5:59 pm
  #12094  
 
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Originally Posted by GoingAway View Post
Is that really all you're using the account for? If so, I'm surprised they haven't shut it down already. If you also processing your normal bills, etc through there they'd be less likely to lose you as a customer, IMO.
I don't think it has anything about utilizing the account to pay bills. I don't think there is any money in that.. I think what they want is a direct deposit and time for that money to sit in the account and for me to use their debit card. My beef is that if I come in every two weeks and there are 5 bags in the machine... and what I bring in only fills one bag. It doesn't seem as if they are really being put out by much. Two weeks ago all bags were empty, today (two weeks later) when I went in I filled the 5th bag up. They told me the truck comes every 7-10 days as needed.

I had been using the bank for my normal banking, but they are the type of bank that makes you fill out slips by hand and remember your account number (you can't use your ATM card for deposits). They also have a horrible website for online banking. I agree I'd probably get rid of myself too! All they would have to say to me is that I can bring in coins as long as I utilize my account for things other than coins. No other branch has complained. So I may just ask how often I can bring in coins so that it is not "putting them out." If the convo turns bad from there I will just say I will not bring in coins to them and try other branches.

IMO the maximum amount of coin that can be brought in rolled without holding up too much of a teller's time has been $2k. The coin machines are different in that they can take much more of a teller's time to change out the bags and lug the full ones into the back room. Anything larger than that amount I would usually ask permission for.
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Old Dec 28, 10, 7:50 pm
  #12095  
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Court won't accept $1 coins

I got in an accident going up to DTW for a mileage run sunday. Turns out that Michigan police are now taking your drivers license if you are from out of state as bond (I found out after the fact I had the option of paying a $100 cash bond but the officer didn't tell me that). Seeing I need the license I paid the fine today (the county had the day off yesterday in observance of the day after Christmas since the day after was on Sunday this year they got Monday off).

Anyway the fine was $140 and I had heard they wouldn't accept personal checks from out of state. Turns out they won't and they did take credit cards but it involved using some third party and paying a heavy fee so I decided to pay in coins. They refused to accept the coins. I was told to either go to the bank next door and cash them for paper currency or go to a store and buy a money order with it. I went to the bank (who I have had no previous experience with) and they cashed them out with no problem. The teller told me she had never seen so many of the coins before but had a lot of customers asking for them. I laughed and told her that I had plenty of the coins and she said they would be happy to take them (if she only knew how many I had LOL)
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Old Dec 28, 10, 8:21 pm
  #12096  
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hope the accident wasn't too bad and all worked out.

but I am curious if the cop would have taken the $100 in coins on the spot if you had them with you. That said, maybe we should all carry a few hundred in coins in our cars--somehow coins are not as worrisome as say, carrying $300 in green bills.
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Old Dec 28, 10, 8:39 pm
  #12097  
 
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Originally Posted by swintec View Post
Make them squirm and press them on why it is such a big deal.
Why? You know what the outcome will be.
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Old Dec 28, 10, 8:50 pm
  #12098  
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Originally Posted by Marathon Man View Post
hope the accident wasn't too bad and all worked out.

but I am curious if the cop would have taken the $100 in coins on the spot if you had them with you. That said, maybe we should all carry a few hundred in coins in our cars--somehow coins are not as worrisome as say, carrying $300 in green bills.
I wasn't hurt luckilly. Hit a patch of black ice and hit a cement guard rail, not sure if the car will be totalled or not.

I was wondering the same thing about posting a $100 bond in coins A friend of mine said the reason the cop probably didn't tell me about the $100 cash bond was that he was being lazy and didn't want to have to deal with receipting it and turning it in at the end of his shift. Imagine what it woudl have been like if I would have given him $100 in coins I wonder if a court is obligated to accept the coins if you have to post bond.
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Old Dec 28, 10, 9:17 pm
  #12099  
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Let's go DO CRIME and find out! hahahaha

I'll bring some coins, you do the same.
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Old Dec 28, 10, 11:11 pm
  #12100  
 
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Originally Posted by QL_714 View Post
Do really think that churning an item for a profit is what this ruling is actually addressing?
First of all the private letter ruling is not binding precedent, it was only a response to an individual tax payer.

But, by releasing it the IRS was basically giving its view on how it felt about the "cash back" or "rewards" given by credit card.

There is not way you could be in a position - unless you work for the IRS - to say that doing the cash back by churning coins is any different then getting cash back from regular purchases.

Unless you have seen something from the IRS that I haven't read yet?
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Old Dec 29, 10, 4:25 am
  #12101  
 
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Originally Posted by cotter77 View Post
Tried again with the Sacs 1$ at the coin star. First machine no good. Second machine worked a little, had to stand there for 15 min refeeding the coins several times. I'd say the machine acceptance to rejection ratio on the coin was about 1 in 10.

Put in 50$. got my stupid receipt, went to website and now I have to wait for the 10$ card.
.
Gave it a try today. Went to a CoinStar with $80 in $1 coins. Of the first roll it spit back about 9 of the 25. Took some on the second pass, some on the third or fourth. Some it just refused. I got the counter up to 38 but it ate a couple of coins w/o counting them. 40 coins in but only counted 38. I tried to find a store clerk to help and while doing so it timed out and spit out my ticket!

When I finally got a store person, they claimed I was charged a transaction fee. I argued with them for 5 minutes and they finally went to the machine and admitted it was a fee less transaction. But they had no idea what to do or who to call.

I called CoinStar and explained the situation. They said they'd make a note and when the cash is collected and hand counted, if they find a discrepancy they may issue me a refund. But they could do nothing about the bonus. That's from the participating merchant. She also asked about the store's response. She wanted to know if the store opened the machine. She said the machine has a phone inside and it calls CoinStar directly for support. If they had done that then they may have been able to resolve the issue. I guess I should have known better than to presume A&P staff would know anything more than where the machine was.

So I called Lowe's. The rep didn't seem to be aware of the promotion and after being on hold on and off for 15 minutes or so, he took some info and said it had to be escalated to another department for research. I'm hoping to get the code but not overly optimistic.

A&P gets for their total lack of knowledge on a machine in their store.
CoinStar gets for eating coins w/o counting them. If they make good I'll revise my opinion.
I'll judge Lowe's when I get the result.

Overall, not a good first experience.
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Old Dec 29, 10, 5:39 am
  #12102  
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I have mint orders still on hold from the 23rd. Anyones orders after that ship? Just wondering if I should call them ....

Thanks
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Old Dec 29, 10, 6:22 am
  #12103  
 
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Originally Posted by Astrophsx View Post
I had been using the bank for my normal banking, but they are the type of bank that makes you fill out slips by hand and remember your account number (you can't use your ATM card for deposits). They also have a horrible website for online banking. I agree I'd probably get rid of myself too! All they would have to say to me is that I can bring in coins as long as I utilize my account for things other than coins. No other branch has complained. So I may just ask how often I can bring in coins so that it is not "putting them out." If the convo turns bad from there I will just say I will not bring in coins to them and try other branches.
I have a feeling I know this bank if it's a chain. Did their football stadium just host an NFL game out of their normal season?
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Old Dec 29, 10, 6:30 am
  #12104  
 
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Originally Posted by xp0 View Post
I have mint orders still on hold from the 23rd. Anyones orders after that ship? Just wondering if I should call them ....

Thanks
Ordered on 23rd. Shipped 27th.
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Old Dec 29, 10, 6:37 am
  #12105  
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Originally Posted by buschoi View Post
Ordered on 23rd. Shipped 27th.
Thanks - I will call and see whats up (or maybe just cancel and re-order)
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