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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 2, 11, 2:34 pm
  #13726  
 
Join Date: Jan 2006
Location: DCA/IAD
Programs: most of them
Posts: 3,251
I think this question has come up before. Why tell them anything? Or why make up a reason? It's not illegal to buy the coins and deposit them.

Of course I may not take them to the same bank that holds the credit card I used to buy them if that is a worry.
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Old Mar 2, 11, 2:41 pm
  #13727  
 
Join Date: Jul 2009
Location: WAS
Programs: BA Gold, HH
Posts: 612
Originally Posted by Marathon Man View Post
Hey I feel as though we've met in another life! lol

For me, one such 'deal' was to visit a branch and discuss coins and then ask repeatedly of the 2 tellers in the supermarket branch of a certain big bank near home if they were really ok with cracking rolls. When they said 'yes, it is ok,' I handed them more boxes of coins than I care to talk about in this thread. They were all stacked in the small boxes in my shopping cart as I stood there and the axle on my car was taking a rest with its trunk now empty.

Then, once they still agreed to take them all, I went shopping and came back to them with the following:

-gift bag
-box of expensive assorted chocolates inside each
-tissue paper for added affect

...and I handed them each their surprises thanking them once again.

With that, one happy teller said, 'See you next time sir!'

...I waved as I rolled my cart of groceries away --smiling much in the same way Andy Dufrense did as he collected funds from 12 Portland, ME area banks the morning after he escaped from Shawshank Prison.
hehehe, yeah though not another life but maybe another city?

good story, but i am not sure my banker would appreciate those offerings. though i did buy him a small gift for his wife when i was in London the last time. which reminds me, i need to ask if she liked it.
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Old Mar 2, 11, 2:45 pm
  #13728  
 
Join Date: Sep 2009
Posts: 144
Originally Posted by glennaa11 View Post
I think this question has come up before. Why tell them anything? Or why make up a reason? It's not illegal to buy the coins and deposit them.

Of course I may not take them to the same bank that holds the credit card I used to buy them if that is a worry.

I smile and tell them it is a hobby
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Old Mar 2, 11, 2:48 pm
  #13729  
 
Join Date: Sep 2009
Posts: 144
Originally Posted by gogogo888 View Post
I have reached an agreement with one of my bank that as long as i crack them open and put it in the sealed plastic bag, I can bring in as much as i want and get credit immediately.

The only problem is that, if they miscount the coins, I have nothing to back it up.

Anyone out there cracks their rolls open and deposit them??
I do that with most of mine. I have 2 regional banks with coin machines that are very accurate. I have never been shorted on the count.
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Old Mar 2, 11, 3:12 pm
  #13730  
 
Join Date: Jul 2010
Programs: UA, AA, SPG, HH
Posts: 574
Originally Posted by naroowal View Post
I am late to the game but I have ordered my first set of coins and I have them in my possession now.

What are the reasons people use when they go to the bank and try to deposit them?

I thought of the following:
1. I am a collector but I got too many of the same kind.
2. I could say that a customer of mine paid me in cash thereby me needing to deposit them into a bank.

Any help is appreciated.

- naroowal
There is an entire thread dedicated to this:

http://www.flyertalk.com/forum/miles...our-story.html
HoKo is online now  
Old Mar 2, 11, 3:17 pm
  #13731  
 
Join Date: May 2010
Location: WAS
Programs: Lotz
Posts: 1,433
Parking Meters Now Taking Dollar Coins

Noticed today in DC that the new parking meters that take credit cards also take dollar coins. (Parking here is $2/hour).

I'll still use cc for the ff miles but more people will appreciate the dollar coins now.
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Old Mar 2, 11, 3:22 pm
  #13732  
 
Join Date: Nov 2010
Location: JFK
Programs: AA PLAT (0.45MM)
Posts: 56
Originally Posted by FriendlySkies View Post
Yes, I crack each roll and put the coins into the coin machine. Only do $25 at a time, until the display shows me that it has a current count..
My bank does not have a coin machine, they said that they will send the sealed plastic bag to the Fed and the Fed will count them.

I know the Wiki says that this is not the best way to do it, anyone has experience with this?
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Old Mar 2, 11, 3:35 pm
  #13733  
 
Join Date: Sep 2009
Posts: 144
Originally Posted by gogogo888 View Post
My bank does not have a coin machine, they said that they will send the sealed plastic bag to the Fed and the Fed will count them.

I know the Wiki says that this is not the best way to do it, anyone has experience with this?
I personally would not do it that way. There is to much room for error plus it would take a while to get the credit. Two years ago, I had one branch tell me they had to send it out to be counted and I would get credit later. I tried it and it took about a week to appear in my account. It was not worth the hassle to me, so I now use different branches and banks.

If you do it, I would suggest you start small and see how long it takes.
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Old Mar 2, 11, 3:42 pm
  #13734  
 
Join Date: May 2010
Posts: 2,996
Originally Posted by glennaa11 View Post
I think this question has come up before. Why tell them anything? Or why make up a reason? It's not illegal to buy the coins and deposit them.
Nor is the bank required to accept the deposit so if they ask and you act cagey, they may tell you not to bring them in.

I've always told my banks the truth. The tellers all know what I'm doing and one of the managers changes the counter machine bags when I fill them up. Many have asked for help with getting their own FF accounts set up and everyone seems happy with the arrangement. I never take in more than $2k (the amount 1 bag holds) and I go at off peak times.

Every situation is different but in my own case, honesty worked quite well.
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Old Mar 2, 11, 3:51 pm
  #13735  
 
Join Date: May 2009
Location: USA
Programs: UAL 1MM, Marriott Plat, Hyatt Globalist, AA 3MM
Posts: 828
Originally Posted by chimmy826 View Post
Actually, Federal Reserve bags hold $2K in dollar coins, not $1K. Plus, they cannot make a Federal Reserve Deposit with the coins in rolls. They have to be unrolled and bagged in $2K increments. So someone at your bank is unrolling them (or cracking them as my bank likes to call it). At my bank, the tellers at the drive-up window do it when they have no one that they're taking care of.
They do not have to be unrolled. The only coins the have to be unrolled are hand rolled coins, not machine rolled from the US Mint in the original government machine rolls.

If they tell you otherwise they are idiots.
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Old Mar 2, 11, 4:02 pm
  #13736  
 
Join Date: Apr 2009
Programs: AA, UA.
Posts: 229
Is there a way to find out which bank sell the new president dollar coin

I also kept two roll as a collection. I used to be able to get the new president dollars coin from our mini bank. Now it is closed. I went to the other bank, they all not carry the coin.

Is there a way I can find out where can I buy couple roll of new president dollar coin ?

The mint sale the new president Andrew Jackson 25 coin roll in $39.95 !! I really don't want to pay for extra $15.

Thanks!
Lee
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Old Mar 2, 11, 4:02 pm
  #13737  
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Join Date: Nov 1999
Posts: 23,333
Help (Advice ) for a friend

Short end

A freind applied for a CC and to get the full bonus he needs to spend x $s . I told him since he doesnt spend that much to use the CC a few times for small transactions then purchase the Coins.

He did just that and the 1st order of $1000 went thru with no problem. 9 days after he ordered the 1st batch I told him to reorder especially as they were shipped and received by him

So he did so , its been 10 days since then and he doesnt remember if his CL was ever touched due to the 2nd order (too late to know if it was now) 1st order was during the 2nd week of Feb.The 2nd order has always showed as "ON HOLD". Yes its with Chase. His statement closed and he got everything for having made a 1st purchase and its in his --- acct

He wants to know whats up but doesnt want to make a call that he shouldnt.

Im at a lost since I never ran up against this myself, does anyone have any idea whats up? Is Chase or The Mint Holding it up w/o the coins he wont meet the min spending so why pay for the annual fee otherwise, he wants to know if he CXs the CC will Chase go and pull the miles? I told him if they do maybe just the bonus miles but I told him I think they will at least leave the miles earned for the purchases that were made and that will extend his expiration period whiuch was his main concern

Thanks
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Old Mar 2, 11, 4:06 pm
  #13738  
 
Join Date: May 2010
Posts: 2,996
Originally Posted by craz View Post
He did just that and the 1st order of $1000 went thru with no problem. 9 days after he ordered the 1st batch I told him to reorder especially as they were shipped and received by him
The wait is 10 days

Cancel the order, try again
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Old Mar 2, 11, 4:13 pm
  #13739  
 
Join Date: Jul 2009
Location: WAS
Programs: BA Gold, HH
Posts: 612
Originally Posted by mrpickles View Post
They do not have to be unrolled. The only coins the have to be unrolled are hand rolled coins, not machine rolled from the US Mint in the original government machine rolls.

If they tell you otherwise they are idiots.
I think it varies by bank. It could be that my little bank is following the rules handed down to them years ago. If it had changed they may not know. I was told 1K per bag, mint rolled gets unrolled and put in a bag. I don't want to press for more info since they are willing to do business with me. Gift horse and all that. LOL
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Old Mar 2, 11, 4:41 pm
  #13740  
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Join Date: Nov 1999
Posts: 23,333
Originally Posted by Stoughton View Post
The wait is 10 days

Cancel the order, try again
I told him to go to track your order and CX it but I guess as a Guest Purchaser it doesnt offer that option, so I then told him to call The Mint.turns out Chase didnt let it go thru so The Mint said they will resend it

I told him to call Chase and see whats up on their end
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