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 Replies: 39 / Views: 5,097 |
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Valued Member
United States
284 Posts |
How many people buy $250 of dollar coins through the US Direct Ship program? I am tempted to buy a set and spend it like regular money but I don't know how well it would work out for me. When I take my kids out to McDonald's or Keva Juice, I end up spending $10 to $15. That's a lot of coins to carry in your pocket!
How do you use these dollars? Do you keep them for small purchases or do you take $20 worth of them and hand them over to the cashier?
-- Boris
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Bedrock of the Community
 United States
12804 Posts |
Boris,
I think that's the fundamental problem with the dollar coin. $20 in coins is very heavy. However they last longer...and a detailed analysis is almost certin to follow.
However, European countries (for example) have the same deal and it seems to work well over there. plenty of 1- and 2-euro coins (again, for example). The U.S. just seems to have a hard time letting go of the paper dollar and our metallic counterparts are relatively large.
Most of the prez/SBAs I've gotten are from vending machines or specific requests at a cashier/teller. Mass transit. etc.
I think you'll grow tired of putting $10-$20 worth of golden presidents in your pocket.Especially when you get cash back from any given credit card these days.
~ CelticKnot
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Valued Member
United States
384 Posts |
I think I am going to try the direct ship thing soon. Will keep a roll, and the rest will be carefully disbursed all over the place. I might even get a new wallet that can hold a few coins, if I end up ordering them.
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Pillar of the Community
Australia
652 Posts |
Great idea if you are an error collector. I used to search rolls of new Oz $1 coins (when I came across them). I have some wonderful errors. I also put aside the Gems, or MS5x as you call them. The rest went back into circulation.
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Pillar of the Community
United States
608 Posts |
I do it every few months, its my spending money for awhile.
Its great fun seeing the cashier face and getting the question "What this?"
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Pillar of the Community
United States
917 Posts |
I purchased $250 of the 2001 Sacagawea dollars through the program on April 2, and they still haven't been delivered; it turns out that the package was damaged in transit and could not be delivered. I sent in a certificate of non receipt at the beginning of this month and I called last week; it could take up to June 30 until I get my shipment. I'll wait until then; but if they don't arrive by the end of June, I'll ask for a refund and buy rolls that I've found some people deposited at local banks. Edited by SilverRoosevelt
05/17/2011 10:45 am
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Bedrock of the Community
United States
20753 Posts |
I've always wondered what would happen if someone walked into a store and purchased something for $200 and used all those baby sized dollars.
People around me don't even like using one of them.
And with Bank of America by me mow giving 5% back on each purchase, temporarily though, why use those coins for anything.
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New Member
United States
34 Posts |
I have done the direct ship a couple of times. I have not find anything worth keeping so far. I spent most of the coins at the grocery store. I had one clerk who had to check with the manager before accepting the coins because she had never seen a Presidential dollar. |
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Valued Member
United States
384 Posts |
If you guys are worried about not getting cashback, just use your credit card to pay the US Mint for the initial coin purchase, then you'll automatically have paid less for the item when you use the $1 coins.
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New Member
United States
7 Posts |
I have done the direct ship about 4 times. I keep one roll, open a few to see if there may be errors (so far only one where the rim text faded so the date reads 008 P), Then I spend the rest. Some California casinos do not like them but hesitantly accept them. Now I find it easier asking my bank to order them for me (I don't have to worry about shipping nightmare).
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Bedrock of the Community
United States
17884 Posts |
Quote:
I think that's the fundamental problem with the dollar coin. $20 in coins is very heavy. Quote:
I think you'll grow tired of putting $10-$20 worth of golden presidents in your pocket And I think that's the fundamental flaw in the thinking about what is wrong with the dollar coin. Why in the world would you PUT $20 of them in your pocket? No one says "I think I'll go to the store." and then PUTS $20 in ones in their pocket. O sure if you were doing a lot of individual purchases you might eventually accumulate $20 in singles, but if they weighed a lot more like say 8 grams apiece you would probably be a lot more likely to spend them rather than letting them accumulate. And you wouldn't accumulate dollar coins really quickly since there would never be any reason to receive more than one of them in change at a time. Oh you might at first after the dollar note was dropped, but very quickly the production of the twos would be ramped up eliminating the need to ever hand out more than one coin at a time. |
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Moderator
 United States
187446 Posts |
 It is just as ludicrous to believe that people would allow twenty of any other denomination (for example, quarters) to accumulate in their pockets. |
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Valued Member
United States
79 Posts |
Quote:
It is just as ludicrous to believe that people would allow twenty of any other denomination (for example, quarters) to accumulate in their pockets. Tried it once, then tried to run after a bus; lets just say momentum is not your friend in this situation. |
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Valued Member
United States
134 Posts |
I agree, these coins don't substitute for $20's they substitute for $1's.
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Moderator
United States
187446 Posts |
Quote:
Tried it once, then tried to run after a bus; lets just say momentum is not your friend in this situation.  By the way, I do not mean to belittle anyone by my comment.  It was just my way of saying, "Stop! Think about this for just one minute..."  |
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Pillar of the Community
United States
2150 Posts |
Quote:
If you guys are worried about not getting cashback, just use your credit card to pay the US Mint for the initial coin purchase, then you'll automatically have paid less for the item when you use the $1 coins. A lot of people did that at first now the mint no longer allows it. |
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Replies: 39 / Views: 5,097 |
Posted 05/17/2011 12:53 am
