Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
#4681
Join Date: Jul 2005
Location: SJU
Programs: Amex FHR elite travel agent, Ritz Stars, Hyatt Prive, Four Seasons Preferred Partner and others
Posts: 1,521
#4682
Join Date: Jul 2009
Location: ABQ, NM
Programs: United Mileage Plus, AAdvantage, Rapid Rewards
Posts: 26
I regularly take about 200-400 coins to a local casino which has a coin counter that has never miscounted. I'll drop a 20 in a slot machine and sometimes I come out ahead and sometimes I don't. I've never been hassled but then I don't try come in with obnoxious amounts. Perhaps take a box to your nearest casino and see what their reaction is. I woundn't think it to be much of a problem.
#4683
Suspended
Join Date: Nov 2007
Posts: 6,189
How people folks actually put these coins into circulation? I've put several boxes into the economy for purchases.
#4684
Moderator: Alaska Mileage Plan
Join Date: Feb 2005
Posts: 12,316
Where do you think these "profits" go? The reality is that a CU does not generate profits. A small amount of any operating surplus is retained to maintain appropriate reserves. Any remaining surplus is returned, at its board's discretion, in the form of lower loan rates, higher interest paid on deposits or member dividends.
#4685
Join Date: Sep 2009
Posts: 32
today I brought $750 to the bank and they hand-counted them instead because their machine jammed up last time. how nice I thought it was a lot faster plus they did not miscount ^
i wish all tellers would hand-count them...it's pretty easy when you have the trays to line all the coins up (I unwrapped the rolls before I brought them in).
i wish all tellers would hand-count them...it's pretty easy when you have the trays to line all the coins up (I unwrapped the rolls before I brought them in).
#4686
Join Date: Sep 2009
Posts: 32
The facts suggest that you are the one who is confused.
Where do you think these "profits" go? The reality is that a CU does not generate profits. A small amount of any operating surplus is retained to maintain appropriate reserves. Any remaining surplus is returned, at its board's discretion, in the form of lower loan rates, higher interest paid on deposits or member dividends.
Where do you think these "profits" go? The reality is that a CU does not generate profits. A small amount of any operating surplus is retained to maintain appropriate reserves. Any remaining surplus is returned, at its board's discretion, in the form of lower loan rates, higher interest paid on deposits or member dividends.
#4687
Join Date: Dec 2005
Location: Hopefully on a plane...
Posts: 6,580
On a 3rd card where the limit is in use... by coins arriving tomorrow... the order has gone to "On Hold" just hoping the charge hits tonight so i can pay via AMEX Bill Pay tomorrow and release the Hold on the coins.
Sadly, this game has gotten more difficult, the bank is back to wanting them unrolled. 8K takes almost an hour... 16K almost 2.
#4688
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,047
The facts suggest that you are the one who is confused.
Where do you think these "profits" go? The reality is that a CU does not generate profits. A small amount of any operating surplus is retained to maintain appropriate reserves. Any remaining surplus is returned, at its board's discretion, in the form of lower loan rates, higher interest paid on deposits or member dividends.
Where do you think these "profits" go? The reality is that a CU does not generate profits. A small amount of any operating surplus is retained to maintain appropriate reserves. Any remaining surplus is returned, at its board's discretion, in the form of lower loan rates, higher interest paid on deposits or member dividends.
The "board" (if there is one) can decide whatever they want to do with any "revenue" that exceeds expenses, EXCEPT use it for the benefit of individuals or stakeholders. This is enforced by disallowing the distribution to shareholders. It can be used to pay salary, bonuses, whatever. You do mention that there is discretion there, so of course it COULD be used to provide lower loan rates, higher interest paid, or member dividends, but there's no requirement for such things.
I think what you want to say is that if you do this to a small CU, it could make it such that their expenses will exceed their "revenue", and they won't be able to meet those expenses. In that case, it is likely that they will have to RAISE loan rates, or LOWER interest paid, etc., OR they could reduce salary, reduce bonuses, reduce staff, etc.
#4689
Join Date: Jun 2001
Location: Ca USA
Posts: 112
I went to the bank today with 5000 coins. took 2500 in my wheelie bag- op mgr came to see me and said he would meet me at the car with the bank dolly. He wheeled the second box in for me. He also said I should just call on him from now on to help me bring the coins in. I did say "its 2 weeks and here i am".
I am taking fters advise and will bring them pizzas the next time. So far I have banked 15000, and have another 10000 on hold with the mint- i guess it will ship after oct 1 or 7 or whatever.
I just ordered 2 batches of 2500 pres coins on 2 diff. credit cards. Should I order the N/A coins and wait for them.
I think I can bank about 25000 a month without getting the banks too mad at me.
I am taking fters advise and will bring them pizzas the next time. So far I have banked 15000, and have another 10000 on hold with the mint- i guess it will ship after oct 1 or 7 or whatever.
I just ordered 2 batches of 2500 pres coins on 2 diff. credit cards. Should I order the N/A coins and wait for them.
I think I can bank about 25000 a month without getting the banks too mad at me.
#4690
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,756
If the best you can do with your miles is 2cents per mile, then the 2% cash rebate program trumps the mileage program.
However, the mileage redemption is hard to gauge as it is strictly depending on HOW you use it, and which program(s) you are with. We are not talking about the premium cabins travel here as that is not realistic for many would not pay out their pockets for such ticket.
Let's just use a Y award on an AA Oneworld award that, for illustration purpose, let you circle Pacific region, as there is published fares for such trips.
Here is the OneWorld link - if originating from US, the Y fares are:
$4,050 for miles travelled below 22K.
$4,860 for miles travelled below 26K.
http://www.oneworld.com/ow/air-trave...#fare-estimate
Corresponding awards can be claimed based on miles travelled:
100K miles
120K miles
http://www.aa.com/aa/i18nForward.do?...s/oneWorld.jsp
Chart is at the bottom of the page.
Granted, the award would be up to 25K miles travelled instead of 26K.
However, the award has much better stopover and connection rules than the pay ticket. Also, the date/flights, but not carrier nor routing, can be changed even after travel started, for free.
The Y award gives you exactly 4.05cent per mile valuation. This is 200% better than the 2% yardstick.
For the record, we did exactly such a trip earlier this year, but in business class - for a cost of 150K miles per person, and the $ if purchased, would have been $10,800. The trip brought us to 11 cities and 7 countries, if that meant anything. 4 airlines are used - AA (bookended), QF, CX & JL. We still have the last segment SFO-LAX not flown yet. I changed it to sometime in November, but most likely would treat it as a throw-away segment.
However, the mileage redemption is hard to gauge as it is strictly depending on HOW you use it, and which program(s) you are with. We are not talking about the premium cabins travel here as that is not realistic for many would not pay out their pockets for such ticket.
Let's just use a Y award on an AA Oneworld award that, for illustration purpose, let you circle Pacific region, as there is published fares for such trips.
Here is the OneWorld link - if originating from US, the Y fares are:
$4,050 for miles travelled below 22K.
$4,860 for miles travelled below 26K.
http://www.oneworld.com/ow/air-trave...#fare-estimate
Corresponding awards can be claimed based on miles travelled:
100K miles
120K miles
http://www.aa.com/aa/i18nForward.do?...s/oneWorld.jsp
Chart is at the bottom of the page.
Granted, the award would be up to 25K miles travelled instead of 26K.
However, the award has much better stopover and connection rules than the pay ticket. Also, the date/flights, but not carrier nor routing, can be changed even after travel started, for free.
The Y award gives you exactly 4.05cent per mile valuation. This is 200% better than the 2% yardstick.
For the record, we did exactly such a trip earlier this year, but in business class - for a cost of 150K miles per person, and the $ if purchased, would have been $10,800. The trip brought us to 11 cities and 7 countries, if that meant anything. 4 airlines are used - AA (bookended), QF, CX & JL. We still have the last segment SFO-LAX not flown yet. I changed it to sometime in November, but most likely would treat it as a throw-away segment.
yep a straight 2% is alot better then getting Miles themselves. Its also alot better then FlexPerks (old NWA CC with USBank) Except if you charge alot of the items that gives you 2 pts per $1 instead of the reg $1, since then by spending 10k you get a tkt up to $400 of cause if the tkt is under $400 exactly and most liekly will be then its less then 4%
But Id rather get the FlexPts then reg miles since $20k = $400 tkt and otherwsie ist $25k for a free Saver tkt if its available. Using the miles to upgrade or biz or FC then getting Miles might be better
the good thing about the 2% is you can then go purchase a tkt and earn EQMs & RDMs
Now that I finished topping off teh Airline programs I needed to, I will probably use my SPG Amex here on in. Unless I apply and get a 2% CC, I dont want the $$$ persee but will use it to purchase my tkts
But Id rather get the FlexPts then reg miles since $20k = $400 tkt and otherwsie ist $25k for a free Saver tkt if its available. Using the miles to upgrade or biz or FC then getting Miles might be better
the good thing about the 2% is you can then go purchase a tkt and earn EQMs & RDMs
Now that I finished topping off teh Airline programs I needed to, I will probably use my SPG Amex here on in. Unless I apply and get a 2% CC, I dont want the $$$ persee but will use it to purchase my tkts
#4691
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
The real winner is the US Treasury (which is still owned by the American public). Congress has mandated the US Mint to make these coins and they would be just sitting as uncirculated pieces of metal that costs the government $50 per $250/box in manufacturing costs.
When they "sell" the coins to FTers they go into circulation as "new money". Even if they paid $75 per case for overnight shipping (which we assume they don't) that would work out to a gross "profit" of $1925.00 per $2500 in coin sales for the government.
When they "sell" the coins to FTers they go into circulation as "new money". Even if they paid $75 per case for overnight shipping (which we assume they don't) that would work out to a gross "profit" of $1925.00 per $2500 in coin sales for the government.
Bottom line, all that happens is the coins go into some warehouse somewhere and sit - never to see the light of day again. So really there is no new money in circulation.
#4692
FlyerTalk Evangelist
Join Date: Sep 2002
Location: Between AUS, EWR, and YTO In a little twisty maze of airline seats, all alike.. but I wanna go home with the armadillo
Programs: CO, NW, & UA forum moderator emeritus
Posts: 35,415
#4693
FlyerTalk Evangelist
Join Date: Sep 2002
Location: Between AUS, EWR, and YTO In a little twisty maze of airline seats, all alike.. but I wanna go home with the armadillo
Programs: CO, NW, & UA forum moderator emeritus
Posts: 35,415
Try coming to NYC -- they're used all the time. Sure -- not as much as bills, but far more than in the suburbs.
#4694
Join Date: Nov 2004
Location: Ann Arbor
Programs: HHonors Gold , National Emerald Exec, Hertz Presidents, Delta Gold
Posts: 2,604
#4695
Join Date: Sep 2009
Posts: 32
The US Treasury is not a winner in this matter. Yes they make the coins for less than the "price" of the new coin. However, do you really see these coins in circulation? How many times when you get change do they give you dollar coins? I would be very seldom, if ever.
Bottom line, all that happens is the coins go into some warehouse somewhere and sit - never to see the light of day again. So really there is no new money in circulation.
Bottom line, all that happens is the coins go into some warehouse somewhere and sit - never to see the light of day again. So really there is no new money in circulation.
i think the coins could be used for a lot of things...
i considered starting a bail bonds business you can help bail out your friends in jail with dollar coins (i don't think jails accept credit cards?)