• filter:
  • 1 2345166
  • Page
  • Text Only
  • Search this Topic »
Voting History
rated:
Effective July 22, 2011, the US Mint has discontinued accepting
credit cards for payment.
http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisp...

There is also a thread discussing the change in policy here.
http://www.fatwallet.com/forums/finance/1113438/

If you still need Dollar Coins, most banks still sell rolls at face value.

===============

Currently, you can order either $250 or $500 in John Quincy Adams Dollar Coins from the US Mint at FACE VALUE, with FREE SHIPPING AND HANDLING and pay with any major credit card.

The purpose of this is to help promote circulation of these dollar coins as there is an unwillingness of many banks to provide them to business customers free of charge.

As a coin collector, I had a tough time writing the title for this thread. I didn't want to state the obvious benefit of this deal, but I know that it's the only reason why it would appeal the FW Finance Crowd. If someone really needs it to be said, someone else can explain it down below. Personally, I posted because I hope some of you actually spend some rather than taking them straight to the bank.


Note: You must choose standard shipping during the order process and the shipping charge will revert to $0.00 at the final confirmation screen before your order is submitted.

Thanks uutxx and workindev for fixing the link, I updated mine also.

==

Deal is alive again.

====

Update 08/11/2008

Deal is alive again


You can order up to $500 of each president. Currently there are four available.

Credit goes to CPLDBAKKE for pointing it out.

====

Update 02/19/2009

Just read the Quicksummary, you guys are doing an awesome job of updating it. Not sure why all the newbies keep asking questions that are clearly answered there.

Keep up the good work.

Member Summary
Most Recent Posts
Hey guys,

I just bought $100,000 in AMEX gift cards to purchase coins. I'm gonna be so rich!

(please lock this thread)

TheMightyQuinn (Oct. 19, 2011 @ 2:25p) |

<still waiting for the train to return to the station>

fedguy (Oct. 19, 2011 @ 5:46p) |

But even if it does happen, it wont be in a form that would make the details in this thread useful.

Glitch99 (Oct. 19, 2011 @ 6:45p) |

Direct Ship Program page

Native American Dollar Coin
One coin design will be released each year.
Not Available: Agriculture (2009)

Presidential dollar coin release schedule
Four coin designs will be released each year
Available: Washington, Adams, Jefferson, Madison, Jackson



Coins come in $250 boxes (ten rolls of $25). You can order two boxes of each design ($500) for the presidents; there is currently no apparent limit for the Sacajawea dollars. Shipping disappears once you complete the order.

This is charged as a purchase, not a cash advance. The current statement on the Mint website appears to be a CYA in regards to some having their charges reclassified by their issuer. The Mint will initially authorize the entire amount. The final charge is usually made the day after the coins ship. A few folks have noted receiving partial orders; the amount may not be charged until the order ships complete.

The Mint appears to be back to matching order information. Keeping orders small (<$1000) seems to to be helpful in avoiding order matching, allowing one to order more than the item limits over time. To guarantee mismatched orders of the same item, the billing and shipping addresses, and credit card numbers must be different.

All orders from the Mint of $300 or more will ship expedited (UPS Next Day Air or Priority Mail), signature required. Bellyaching about the signature requirement in the thread is verboten.

Many have reported long (sometimes extreme) hold periods for orders. Coins also sometimes get back ordered (the website usually notes an expected ship date). Do not order with any expectation as to shipment and delivery dates. If you are planning on getting a large number of boxes, consider making separate orders of $500 or $1000. Orders appear to be filled on a rolling basis, one design at a time. Also, remember that there may be a hold for your order amount on your credit card for some time.

Due to the vagueries of the Internet, shipping notices are sometimes received the day of or after delivery. The tracking number is the third in the block on the shipping notices. The first two lines have no obvious meaning.

To check the status of your order over the phone, call 1-800-USA-MINT and select option 2. The system will ask you to input your order # and billing zip code. The order number is in both the subject line and body of the order receipt e-mail.

If you do not know your bank or credit union's policy on deposits of large amounts of coins, contact them before going. Most do not require that the coins be unrolled; however, you do need to remove them from their shipping box. Larger banks that handle commercial deposits have coin bags into which to place unrolled coins. Posters have reported adverse action from multiple institutions after making large or numerous coin deposits. Do not make large or numerous deposits at the same bank.
gatzdon said: Don't fall for any lies about coin deposit fees. If they say there's a fee, demand to get that in writing. If they refuse, tell them refusal to disclose their fees in writing is a direct violation of Regulation DD - Truth in Savings Act. Specifically Depository institutions shall make the disclosures required by 230.4 through 230.6 of this part, as applicable, clearly and conspicuously, in writing, and in a form the consumer may keep. Emphasis on "in a form the consumer may keep.mothra0 said: Ask the MERCHANT TELLER how they prefer to receive rolled coin and how much they are able to take.
...
Don't go to the satellite (small branch). Go to a main branch that handles lots of traffic. (I see lots of people saying the banks are lying to them when the bank tells them that they only have room for $2-$5k. For the most part, the bank is telling you the truth. The "vault" for cash operations at a bank is not the thing with the huge metal door that the bank robbers go after in the movies. That vault is for safe deposit boxes of customers who pay for them. The cash vault is usually a lot smaller...think gun safe sized. I've made enough deposits to understand the modern banking only requires a small cash vault. They can't have all the space taken up by coins. If you go to a high volume bank, then the vault will be bigger and they will most likely have armored car pickups every day. Smaller banks only get pickups one to two times a week.

Be aware of structuring. Structuring may be prosecuted whether you intend to do it or not. Avoid making numerous deposits in a short period.

For those opening many rolls for numismatic or deposit purposes, safety openers are available. This has been discussed; it is available here for 11.95 plus shipping.

If you don't think that this is a profitable deal, then don't post here about it. Between interest on float and credit card rewards, plenty of people feel that this is worth their effort. Only you can decide if it is worth yours. staci86 said: 1% straight cash is very common. If you can cycle $10k per month on that, you get a free $100 plus interest on the float for a few trips to the bank. If you're at the bank anyway or bank somewhere you drive by regularly, its 10 minutes max per visit, at one of the better banks for this deal.

If you are using Schwab's 2% cash card, that becomes $200 plus interest per month.

Someone earlier in this thread posted about the Citi Platinum AMEX giving 3TYP/dollar, redeemed at 1% on the student loan rebate. That would yield $300 per month plus interest.

If you card is tiered like AMEX Blue, this deal will help you reach the upper tier and increase earnings on other purchases. If you must spend $X as part of a promo, this is a great way to meet that requirement.

This deal allows you to do fee-free balance transfers from one card to another. This can convert a 0% purchase APR into money in your checking account.

If you have large credit lines that you don't use, this cycling shows substantial activity on the account, and can help prevent a closure for inactivity. That is intangible, but still a benefit.

If you are unfortunate enough to be carrying CC interest at a non-promotional rate, and have a card which is paid off and has a grace period, you can use this deal to float that debt and avoid high normal CC rates on the portion of the balance you can continue cycling.

There are many ways to make money from this deal. If your card only yields 0.625%, you need a new card, or you need to think of other ways to make/save money from this deal.


Besides (gasp!) spending the coins or depositing into a bank account, consider using them to pay property taxes or utility bills. This is a surreptitious way of getting these onto your card when the payee does not accept credit cards or charges a fee.


When you deposit these coins, they will not go back to the Mint. If your bank does not want them, they may eventually end up at a Federal Reserve Bank. The Federal Reserve System eventually holds all non-circulating coins and bills. Currently, the Fed contracts out the handling of coins to other institutions.

The Mint makes money on this program. It costs between ten and twenty cents to produce a single dollar coin. The Mint "makes" the difference between its cost and the dollar face value; this is called seigniorage. For each box of 250 coins, the Mint gets $200 or more beyond its production cost. This is how they can afford to spend money to market and ship the coins.

In the past the presidential coins have gone in and out of stock. Each coin design has a finite production run. Once the Mint makes as many as they planned, they stop and move on to something else. For example, there will be no more George Washington dollars made. The numbers listed in below are exactly as many as have been or ever will be made. The mint will sometimes reassign coins to this program, and you can get them; but, once they are gone, they are really gone.

US Mint said: To encourage robust national circulation of $1 Coins (non-numismatic, circulation-grade coins), the United States Mint has introduced the Circulating $1 Coin Direct Ship Program. This program makes it easy for retailers, financial institutions, and other interested parties to obtain smaller quantities of $1 coins than can otherwise be obtained from the Federal Reserve.
Circulating Presidential Dollar Figures by Mint
			Denver		Philadelphia	Total
George Washington 	163,680,000 	176,680,000 	  340,360,000
John Adams 		112,140,000 	112,420,000 	  224,560,000
Thomas Jefferson 	102,810,000 	100,800,000 	  203,610,000
James Madison 		 87,780,000 	 84,560,000 	  172,340,000
James Monroe 		 60,230,000 	 64,260,000 	  124,490,000
John Quincy Adams 	 57,720,000 	 57,540,000 	  115,260,000
Andrew Jackson 		 61,070,000 	 61,180,000 	  122,250,000
Martin Van Buren 	 50,960,000 	 51,520,000 	  102,480,000
William Henry Harrison 	 55,160,000 	 43,260,000 	   98,420,000
  	  	  	751,550,000 	752,220,000 	1,503,770,000



Important!!! As of the end of January 2011, the U.S. Mint no longer accepts American Express (AMEX) Gift Cards as a form of payment.
Thanks for visiting FatWallet.com. Join for free to remove this ad.

rated:
For those who wish to ahem...abuse this offer, one can use a credit card and get an easy $500 charged to earn around $10 in rewards on something that any bank will give cash for. /obvious

rated:
Maybe with the boost of a Fatwallet effect, this will be the first dollar coin to reach critical mass in circulation and usage

rated:
what about insurance etc.
this is after all, money.

rated:
Don't put it in Hot Deals because most won't understand it.

I'm surprised the US Mint didn't post this on FWF themselves. What a genius weigh to force banks to circulate them.

How much does $500 in Dollar Coins weigh? They are going to give me some strange looks when I deposit these.

rated:
Note: these coins are made in China.

rated:
Woohoo! I'm all up on this.

It looks like they ship via FedEx - and they'll reimburse you if it never arrives.

Orders are limited to two boxes ($500) per President.

Are there more Presidents available besides JQA?

rated:
dougneb said: ......How much does $500 in Dollar Coins weigh? They are going to give me some strange looks when I deposit these.

$500 should weigh about 9 lbs with packaging (depending on how much protection they give the coins.

$500 should be pretty easy to spend. Most self serve checkouts and vending machines take them, also post office machines if they haven't taken yours out yet.

Other possibilities are
= Pay at the drive-thru window.
= Pay for gas.
= Use them for tips.
= Any small purchase.

rated:
gatzdon said: Other possibilities are
= Pay at the drive-thru window.
= Pay for gas.
= Use them for tips.
= Any small purchase.


Come on man! That's what I use credit cards for! Thanks OP!

These are great to give kids for chores, tooth-fairy visits, etc.

rated:
bombcar said: Woohoo! I'm all up on this.

It looks like they ship via FedEx - and they'll reimburse you if it never arrives.

Orders are limited to two boxes ($500) per President.

Are there more Presidents available besides JQA?



The US Mint does have it's quirks, but I've known people that have returned the same proof sets over and over and over (repeat to infinity) until they get their perfect PR-70 coins.

Don't know if the mint limits per credit card, address, name, etc... Since I don't want to risk getting blacklisted, I'm not interesting in verifying this empirically.

I personally hope they continue this for all future presidential releases.

rated:
Anyone else getting a Shipping Methods: Standard Shipping: 1-2 weeks ($4.95) in the Billing Address screen?

On Order Summary:

Shows as-

Subtotal (w/o Shipping & Handling) $500.00

Shipping & Handling (includes any Gift Box charges) $0.00

Total Order $500.00

and below CC info shows:

Shipping Method Selected
Standard Shipping: 1-2 weeks ($4.95)

rated:
dougneb said: Anyone else getting a Shipping Methods: Standard Shipping: 1-2 weeks ($4.95) in the Billing Address screen?

The shipping charge reverts to zero dollars on the final confirmation screen.

You MUST choose standard shipping for it to revert to zero (per the instructions in the listing description).

rated:
gatzdon said: dougneb said: Anyone else getting a Shipping Methods: Standard Shipping: 1-2 weeks ($4.95) in the Billing Address screen?

The shipping charge reverts to zero dollars on the final confirmation screen.


This is correct - the receipt shows a total charge of $500.

At 2% Cash Back, this gives me $10. And a bunch of coins.

rated:
gatzdon said: Currently, you can order either $250 or $500 in John Quincy Adams Dollar Coins ...
Fixed link in OP

rated:
Thanks again OP. In for 2. Now I have to figure out a story for wifey.

rated:
iSeller said: For those who wish to ahem...abuse this offer, one can use a credit card and get an easy $500 charged to earn around $10 in rewards on something that any bank will give cash for. /obvious

You call that abuse? $500?? I've got a 5% Citi Cash returns card. Soon I'll have all the JQA dollars! I wonder if it will cost extra to mail them in to pay my credit card bill?

rated:
gatzdon said: Currently, you can order either $250 or $500 in John Quincy Adams Dollar Coins from the US Mint at FACE VALUE, with FREE SHIPPING AND HANDLING and pay with any major credit card.

The purpose of this is to help promote circulation of these dollar coins as there is an unwillingness of many banks to provide them to business customers free of charge.

As a coin collector, I had a tough time writing the title for this thread. I didn't want to state the obvious benefit of this deal, but I know that it's the only reason why it would appeal the FW Finance Crowd. If someone really needs it to be said, someone else can explain it down below. Personally, I posted because I hope some of you actually spend some rather than taking them straight to the bank.


Note: You must choose standard shipping during the order process and the shipping charge will revert to $0.00 at the final confirmation screen before your order is submitted.

Thanks uutxx and workindev for fixing the link, I updated mine also.



I tried to order this, but they did want to charge for about $5 in shipping. Did I do something wrong or is the free shipping deal over?

Thanks, for taking the time to read this.

rated:
Thanks, for taking the time to read this.

No problem. Now could you take the time to read the posts above, which have already answered your question more than once?

rated:
in for 500. Anyone try 2 orders to same house with different cards?

rated:
My wife is gonna hit me over the head with 9 lbs of dollar coins when she finds out about this one......

Edited to add Thanks to the OP!!!!!!!


Product Name Quantity Price (each) Total Availability Gift Box Product Ship Date
Circulating $1 Coin Direct Ship Rolls - John Quincy Adams (Y01)
2 $250.00 $500.00 In Stock N
Subtotal (w/o Shipping & Handling) $500.00
Shipping & Handling (includes any Gift Box charges) $0.00
Total Order $500.00

rated:
Thanks OP! In for two!

rated:
So far, in for $1000. Same address, credit card, 500 for me, 500 for the wife. If they ship I'll try again. Thanks OP, and guess what, I'll even use some for highway tolls. I'd certainly consider using more, but I use so darn little cash.

rated:
Not to threadcrap or anything, but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards to places that you spend a lot of money at anyway (stores, gas stations, etc) in order to achieve the same effect?

I can see earning some interest on the coins when you deposit them.. but even at 5% that interest on $500 only comes to about $2 a month.

rated:
flwsoldier said: Not to threadcrap or anything, but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards to places that you spend a lot of money at anyway (stores, gas stations, etc) in order to achieve the same effect?

I can see earning some interest on the coins when you deposit them.. but even at 5% that interest on $500 only comes to about $2 a month.


Your gift card idea, is different. There is no need to buy gift cards at places you shop, because you can just use your credit card directly at the place.

I don't even want to touch your statement about interest.

rated:
flwsoldier said: Not to threadcrap or anything, but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards to places that you spend a lot of money at anyway (stores, gas stations, etc) in order to achieve the same effect?

I can see earning some interest on the coins when you deposit them.. but even at 5% that interest on $500 only comes to about $2 a month.

Why do you have to buy giftcards? Most of those places accept Visa/Mastercard and you can directly use the rewards card. The nice thing about this is you get "cold hard (and heavy) cash" You can use it for places where you actually need cash or can simply deposit in a bank.
Edit: casino187 beat me to it!

rated:
flwsoldier said: Not to threadcrap or anything, but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards to places that you spend a lot of money at anyway (stores, gas stations, etc) in order to achieve the same effect?

I can see earning some interest on the coins when you deposit them.. but even at 5% that interest on $500 only comes to about $2 a month.


Last time I checked, you're not locked down to any specific stores when you have coins/cash instead of giftcards. Thanks OP. I used this twice to satisfy $500 and $250 purchase requirements for my American Express Gold card and Citi Professional cards. That's $500, and $150 in signup bonuses taken care of.

EDIT: Damn, I'm the third stringer....

rated:
but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards

Will my bank take the gift cards as a deposit, allowing me to pay my credit card bill and pocket the $50 I just made? This is cold hard cash for sale at par. Not even close to a GC equivalent. I'm having US Savings bonds flashbacks...

rated:
So is that mean we are trying to switch to coin instead of paper for $1? Guess $1 is not worth it to use paper bill anymore when the gas price is already $4 something and will be $5 very soon.

rated:
Bet you'll see gas under 3 before you'll see 5...

rated:
flwsoldier said: Not to threadcrap or anything, but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards to places that you spend a lot of money at anyway (stores, gas stations, etc) in order to achieve the same effect?

I can see earning some interest on the coins when you deposit them.. but even at 5% that interest on $500 only comes to about $2 a month.


I guess you forgot about the credit card grace period. If they ship you the coin quick enough, you can deposit the $500 coins before you actually pay the credit card bill. Which means you can use the $500 coins and pay your credit card bill and don't have to spend any money in your bank. In the mean time, you can whatever Cash Back for your credit card.

rated:
Ever try tipping a stripper with a dollar coin? They rarely appreciate the feminine role models of Susan B. and Sacagawaua, maybe J.A. will be better.

rated:
WalStMonky said: but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards

Will my bank take the gift cards as a deposit, allowing me to pay my credit card bill and pocket the $50 I just made? This is cold hard cash for sale at par. Not even close to a GC equivalent. I'm having US Savings bonds flashbacks...


Better. You couldn't cash savings bonds for a year, right?

rated:
VerbalK said: Ever try tipping a stripper with a dollar coin? They rarely appreciate the feminine role models of Susan B. and Sacagawaua, maybe J.A. will be better.J.A.'s portrait on the coin looks like the kind of dude the strippers are used to seeing at the clubs.

rated:
gatzdon said: I posted because I hope some of you actually spend some rather than taking them straight to the bank.

Well, one effect of your post is to introduce people to the U.S. Mint site, where we are likely to find items of interest to us in addition to these coins, which is in line with what you want to achieve. Probably almost everybody here will spend at least a few; I will just out of gratitude to you even though I have not spent any currency this year except one time when I bought some lottery tickets.

rated:
GroveStreetOG said: WalStMonky said: but couldn't you also just use the same rewards credit card to purchase 2x $250 giftcards

Will my bank take the gift cards as a deposit, allowing me to pay my credit card bill and pocket the $50 I just made? This is cold hard cash for sale at par. Not even close to a GC equivalent. I'm having US Savings bonds flashbacks...


Better. You couldn't cash savings bonds for a year, right?


6 months IIRC, but you are correct it is better that way. On the other hand, the bonds did not require a wheelbarrow to be profitable.

rated:
Thanks, OP...might be a good way to use a 0% purchase card...I have the WAMU card that I am working to get to 4000 in purchases to get the higher EDP amounts...I have a few cc's that go to my work address but I think I would get beat on if I sent a 10 lb box of change

rated:
bombcar said: Woohoo! I'm all up on this.

It looks like they ship via FedEx - and they'll reimburse you if it never arrives.

Orders are limited to two boxes ($500) per President.

Are there more Presidents available besides JQA?
But we are going to have a new president this Nov, right?

rated:
Getting two boxes ... hoping this purchase won't be treated as cash advance ...
Awesome find OP!

rated:
It better not count as a cash advance (my initial deposit on my Chase Checking supposedly didn't)...anyways.. I love Fatwallet -- Because of Fatwallet, I just told my wife I was about to spend $500, freaking her out.. then I had to explain how it was on cash lol... Thanks OP!

EDIT: One more thing.. guys, when you get this "cash", try to spend it where you would use cash and not bank it, to promote circulation...

Skipping 6588 Messages...
rated:
sayhey said:   glxpass said:   For those who agree that this thread should finally get locked, please green this post; otherwise, red it. Thanks!

Hey, the Bible has a couple of folks who rose from the dead. Perhaps the US Mint will relent as those dollars keep piling up in warehouses............The FAT lady hasn't sung just yet!!!!!
But even if it does happen, it wont be in a form that would make the details in this thread useful.

  • 1 2345166
  • Page


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014