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 Replies: 20 / Views: 3,566 |
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Valued Member
United States
244 Posts |
Has anyone done the US mint direct ship dollars since they changed the program to be "cash like" transactions? If paying by CC, are they treated as cash advances that you have to pay heavy fees on?
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Bedrock of the Community
United States
10982 Posts |
I've bought "Direct Ship" several times and no, it is a regular credit card purchase and free shipping. I get 1% cash-back on my credit card purchases, so these coins are delivered to my door for 99 cents each!
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Moderator
 United States
187499 Posts |
bherring1964, I hope you are not counting on this. The US mint records these as a cash advance and not a credit purchase. You will not receive any rewards and may incur additional fees (depending on how your credit card works).
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The purchase of $1 coins under the Circulating $1 Coin Direct Ship Program is a cash equivalent or cash-like transaction. Ordinarily, such purchases are not eligible for credit card rewards, cash-back, cash rebate, and similar programs. Check with your card issuer for its terms and conditions. I believe this went into effect last December, but I cannot find a specific date. |
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Bedrock of the Community
United States
20753 Posts |
OH, OH. I'm just getting ready to do some purchasing of Proofs and Uncirc sets from the Mint and if they make more changes I'll go nuts. Last year I spent way to much time trying to figure out their mess.
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Valued Member
 United States
244 Posts |
That's what I was afraid of, jbuck. I have no problems not earning cashback on the purchase, that's only fair, getting $1 for $1. But I have zero interest in paying a fee to participate.
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Moderator
United States
187499 Posts |
I just found this on the US Mint web page for the Direct Ship program... Quote:
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. This seems to indicate they are working on an honour system and not able to process the transaction as a cash advance. Therefore, it is still possible to game the system for free rewards. bherring1964, I would like to know how recent you last purchase was! |
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Bedrock of the Community
United States
10982 Posts |
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bherring1964, I would like to know how recent you last purchase was!
I ordered 10 rolls of the 2010 Native American dollars with Hiawatha Belt reverse last month. Every roll I've opened HAS edge lettering.  But I still got them for 99 cents/ea delivered!   |
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Valued Member
United States
244 Posts |
Well, I'm going to try it then. I agree with their terms, I will not bank-deposit these coins, but will introduce them into circulation (except for the roll or two I'll keep for myself, but nothing in those terms prevents that).
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Pillar of the Community
 United States
2448 Posts |
The only question I have is, "Will the local stores accept the coins?" I now have a few thousand small dollars and almost afraid to use them in rural Virginia. I might get shot by someone thinking I was passing counterfeit.
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Moderator
United States
187499 Posts |
Quote:I ordered 10 rolls of the 2010 Native American dollars with Hiawatha Belt reverse last month... But I still got them for 99 cents/ea delivered! That is good enough for me. So, the mint was unable to process these as a cash advance and now have a policy in place. Interesting. Quote:
The only question I have is, "Will the local stores accept the coins?" I now have a few thousand small dollars and almost afraid to use them in rural Virginia. I might get shot by someone thinking I was passing counterfeit. That is a good question! I suppose that you can always pay your county taxes with them. Bring a Secret Service agent with you just in case.  |
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Pillar of the Community
United States
920 Posts |
Most people recognize them now. I use them for most cash transactions under $10.
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Bedrock of the Community
United States
10982 Posts |
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"Will the local stores accept the coins?" I use them almost daily. I keep a mini-Tupperware container in my car's console and grab a few whenever I'm spending under $5. Never had a problem at any retail establishment. |
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Bedrock of the Community
United States
17884 Posts |
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That is a good question! I suppose that you can always pay your county taxes with them. Not where I live. Taxes are payable by check or credit card only, they won't accept cash. |
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Moderator
United States
187499 Posts |
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Not where I live. Taxes are payable by check or credit card only, they won't accept cash. Tax is a debt, right? Has anyone tried to test it yet? |
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Bedrock of the Community
United States
17884 Posts |
So what. Cash is legal tender for debts, but that doesn't mean they have to accept it. And they do have signs up saying they will not accept cash.
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Moderator
United States
187499 Posts |
I know that. What I want to know is if anyone has fought a non-payment lien in court saying that they tried to pay the tax but were denied the opportunity.
I understand them not wanting to take cash. Personally, I do not have a problem with it. I pay my taxes electronically anyway. But I know people, and I am certain that someone has pressed this somewhere.
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Replies: 20 / Views: 3,566 |
Posted 10/12/2010 10:11 am
