brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 6, 2003
- Messages
- 18,085
AKA "you cannot make this stuff up," as a friend put it.
Ran across this gem on Fat Wallet. The US Mint is apparently busily trying to get $1 coins into circulation even though the public isn't too enthused and therefore the banks don't want to carry the coins. So to push the coins, the mint has a program that allows individuals to order rolls/boxes of current production on-the-run $1 coins. To induce purchases, the mint offers free shipping and allows you to pay with a credit card (and the charge is treated as a purchase rather than a cash advance). So the game is to buy as many $1 coins as they will let you, charge it on a credit card that gives you a cash back reward (such as the Schwab Visa that kicks out 2% or the Pen Fed Visa that does the same to the tune of 1.25%), cash the coins in at the bank when they arrive, skim the float, and then pay the CC bill when it comes due. And the mint loves the deal because the $1 coins cost something like 20 cents to make, so its really easy for them to eat the CC transaction fees and the shipping.
http://www.usmint.gov/mint_programs/$1coin/index.cfm?flash=yes&action=directShip
Ran across this gem on Fat Wallet. The US Mint is apparently busily trying to get $1 coins into circulation even though the public isn't too enthused and therefore the banks don't want to carry the coins. So to push the coins, the mint has a program that allows individuals to order rolls/boxes of current production on-the-run $1 coins. To induce purchases, the mint offers free shipping and allows you to pay with a credit card (and the charge is treated as a purchase rather than a cash advance). So the game is to buy as many $1 coins as they will let you, charge it on a credit card that gives you a cash back reward (such as the Schwab Visa that kicks out 2% or the Pen Fed Visa that does the same to the tune of 1.25%), cash the coins in at the bank when they arrive, skim the float, and then pay the CC bill when it comes due. And the mint loves the deal because the $1 coins cost something like 20 cents to make, so its really easy for them to eat the CC transaction fees and the shipping.
http://www.usmint.gov/mint_programs/$1coin/index.cfm?flash=yes&action=directShip