New $1 coins a flop - Mint has a plan to get them criculated

cyberdan

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Dec 12, 2006
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I never buy coins from the US Mint, way over priced and I just don't like modern coins. But the mint has a plan that is just up our CRH alley.

Buy in boxes of $250 for $250 and free shipping. (they don't want us to deposit them in our account but they can't stop us) here is the link
http://catalog.usmint.gov/webapp/wc...storeId=10001&catalogId=10001&identifier=8100

I but you want to know how you can make money on this?
Do you have a credit card that gives a rebate?
chargeit - pay off right away - deposit coins - get rebate

It might be a hassle to make $5 on a 2 box order but right now that is EXACTLY like finding one 40% JFK in a box of halves.
 

Upvote 0
People already know about this.. people have been doing this with airline mileage credit cards for a while now. I often see rolls of uncirculated new dollar coins turned in at banks. Sometimes they think that I'm dumping dollar coins as well or that I'm doing the same thing as they are but I'm not. I don't have any rewards credit cards and don't plan to.. just a pain.. but that's just me. I operate on a cash basis and have enough of a time spending halves and pennies to buy stuff.
 

Actually sounds like a good way to get some quality uncirculated dollars for the future: keep only the coins you can't see ANY detracting marks on, or scratches. I'd guess they be the next big collectibles.
 

This program has been going on for a while, actually. I have several rolls of 2011-P Native American dollars that I've been spending (after checking them for errors and saving the ones with the fewest bag marks, of course.)
 

Thanks Dan, it is always nice to get a tip on this forum even if it is just a reminder,I for one appreciate the effort. Jim
 

Bentfork said:
Wish I could pay my mortgage by credit card. Then I'd be going somewhere.

YOu can buy as many $1 coins as your mortgage and STILl be going somewhere.

I buy $4,000 per MONTH from the mint on my 2 credit cards. Get the miles. that's 50,000 miles per year, which is a FREE TRIP per year JUST from the mint! That's wonderful.

They limit you to 2 boxes of each kind per order, and at times more severely than that. the rules keep changing. But we get two to three tickets per year based onmy credit spending, and a full 1 ticket per year comes from thr mint. More than my mortgage! (And probably yours too, so do this and get flying)
 

The best plan to get them circulated would be to just stop printing $1 bills. I read somewhere (but I never believe 100% of anything I read, so who really knows) that there is over $1 billion in unwanted dollar coins collecting dust in federal depositories (yet they continue to produce more), and that ending the production of paper $1 notes would save taxpayers something like $700 million over 10 years. I would assume that is due to the fact that a coin will last 50-60+ years, but a paper note typically wears out in about 3. Saving $70 million a year isn't even a drop in the bucket to where we need to be, but it would be a tiny step in the right direction. Seems like a no-brainer to me.
 

The only problem I can think of is I'm not exactly sure how you would go about tucking a presidential dollar into a g-string. :laughing9:
 

ArkieBassMan said:
The only problem I can think of is I'm not exactly sure how you would go about tucking a presidential dollar into a g-string. :laughing9:

I don't care who you are, that's funny!! ;D
 

SFBayArea said:
People already know about this.. people have been doing this with airline mileage credit cards for a while now. I often see rolls of uncirculated new dollar coins turned in at banks. Sometimes they think that I'm dumping dollar coins as well or that I'm doing the same thing as they are but I'm not. I don't have any rewards credit cards and don't plan to.. just a pain.. but that's just me. I operate on a cash basis and have enough of a time spending halves and pennies to buy stuff.

Some would argue that spending time searching coins for silver is a pain :P. I love my CC rewards. I get quite a good chunk of change from it all.
 

coolpix9 said:
Thanks Dan, it is always nice to get a tip on this forum even if it is just a reminder,I for one appreciate the effort. Jim

coolpix9, i agree 100% with what you said, and i think that was very thoughtful of you to say such a nice thing to someone that was trying to help out! its people like you on this forum that make this a GREAT site! Keep it up and hh! [R.I.P. Rich Hartford]
 

too bad they did not have george washington, I would buy them just for the missing edge lettering error!! hh
 

BuffaloBoy said:
too bad they did not have george washington, I would buy them just for the missing edge lettering error!! hh

They did have George Washington. I ordered some recently on 4/09/11 (no missing edge lettering errors found). They sold out sometime between then and now, don't quite remember when. They had them for quite a few years before that. They used to have a much bigger selection. Currently their selection is down to 3 choices: Jefferson, Madison, and Native American Sacs.
 

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