Comments on: Busting Cashback Tiers with Mint’s $1 Coin Direct Ship Program

By: WorkaRounder

WorkaRounder — Wed, 24 Aug 2011 18:57:09 +0000

Payments can be wire transferred from credit cards by money order companies and many credit cards issuers send convenience checks to their customers. Wire transfers and checks is not a complete solution to their problem.

By: moneymaker

moneymaker — Tue, 23 Aug 2011 17:27:39 +0000

I was really disappointed to learn they stopped taking cards for payment- I kept putting this off myself and really wish I had taken advantage of it. I was actually planning on making all my small purchases with them, like for sodas and stuff. I know one local gas station that used them a ton. Sure, they probably got the cashback, but they really did circulate them around here.

I get the Mint’s reasons, but in a way they still got the money circulated a bit- surely they printed fewer bills because of the coins ordered, so eventually even the coins taken to the bank will make it back to circulation one way or another. A dollar’s a dollar, and when banks order cash from the fed, surely the mint could sent the coins right? Hey if everyone hates them so much and won’t circulate them, maybe they will be collectible one day lol!

Oh well, at least we still have cashback shopping of gift cards, but it’s just not the same.

By: marc

marc — Sun, 07 Aug 2011 22:43:48 +0000

this policy has changed since july and credit cards can no longer be used

By: Andrew

Andrew — Wed, 15 Dec 2010 21:18:13 +0000

“The immediate bank deposit of $1 coins ordered through this Program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the Program.”

By: Paul

Paul — Tue, 13 Jul 2010 03:11:49 +0000

I too am a frugal traveler.

However, I would like to note that the intent of selling $1 coins at face value is to introduce them into circulation to reduce the nation’s dependence on more expensive $1 paper currency. When one purchase’s these coins and immediately redeposits the coins at the bank you are defeating the purpose and intent of the treasury offering these high weight coins with free shipping. In effect you are exploiting a program that intends to better the USA, in effect compounding the costs, all for one’s personal benefit.

I understand and appreciate a bargain as much as the next person, however the selfishness. greed and self-centeredness of individuals does not help us as a United country. The US mint web site specifically outlines the intent of these coins on its web-site:
The immediate bank deposit of $1 coins ordered through this program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the program.
By clicking “Add to Cart” I agree that I understand, and will comply with, the intended purpose of the program.

I think, in the interest of the betterment of our country is greater than the needs to of a few to collect frequent flyer miles and travel ‘frugally.’

By: rdizzle

rdizzle — Fri, 14 May 2010 21:23:24 +0000

We would not want to leave welts on the strippers when throwing dollar coins at them.

By: DaveS

DaveS — Sun, 28 Feb 2010 15:43:23 +0000

I agree with you about that. While I don’t think there would be any harm in redepositing a roll or two, it’s not that difficult or a waste of space to keep them on hand in your home for spending in lieu of dollar bills. The only problem I have with dollar coins is that you can’t carry too many of them in your pocket (I’m a guy) without feeling like you’ve got a load of buckshot in your pants.

By: echidnina

echidnina — Thu, 25 Feb 2010 20:53:22 +0000

England has 2-pound coins as well.

By: echidnina

echidnina — Thu, 25 Feb 2010 20:51:23 +0000

Yeah, dollar coins are always neat to get ahold of. But I never, I mean never see them! So I would also encourage getting these coins into circulation, instead of dropping them all off at the bank.

By: echidnina

echidnina — Thu, 25 Feb 2010 20:50:12 +0000

It varies by the card but as more people are doing it, more and more companies are catching on. This offer has been around for a while, several years at least, so it’s probably past its money-making hayday at this point.

By: echidnina

echidnina — Thu, 25 Feb 2010 20:45:08 +0000

It probably would be a good idea to ditch dollar bills in favor of coins, but people are resistant to change. I spent some time in the UK on vacation and it took a lot of getting used to wrapping my head around the 1-pound coins.

But then, at the end of the day when I’d empty my pocket change, I had a significant amount of money there! Nice from a money hacks perspective.

By: Cheap Bastard

Cheap Bastard — Thu, 25 Feb 2010 19:32:42 +0000

Glenn, we can’t eliminate 1 dollar notes – we still need them for the strip clubs.

By: BrianC

BrianC — Mon, 22 Feb 2010 20:35:45 +0000

Any recent confirmations out there on whether this is counted as a purchase or cash advance?

By: Cheap Bastard

Cheap Bastard — Sun, 21 Feb 2010 12:32:42 +0000

We aren’t keeping up with the Jones’s. Europe is still ahead of us, with their 2€ coins.

By: mppaul2

mppaul2 — Fri, 19 Feb 2010 23:59:51 +0000

hmmm..I wonder if the benefits would be there using a citi card with their TYP that can be used for student loan or mortgage payments? The recently changed the point values, but if you are just cycling money through…could be useful…???