$1 Coin Direct from the mint

[Bryzantium]

Evening Gents.

Has anyone heard about this program from the mint? They will mail you batches of $1 coins straight to your house with free shipping and handling?
Im not sure about tax im trying to order some now. Seems the smallest order is $250 batches. They say it will deliver within 2 weeks. Dang and my bank wanted to charge me to get large numbers of coins. I love dollar coins makes me feel like its the 1800s again and im using real money.hehe. Just seeing if yall had heard of it and it yall had tried it out?

[Bryzantium]

Sorry forgot to link it http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?catalogId=10001&storeId=10001&categoryId=27238&langId=-1&parent_category_rn=16238&top_category=16238

[SongSungAU]

Has anyone heard about this program from the mint? They will mail you batches of $1 coins straight to your house with free shipping and handling?
Im not sure about tax im trying to order some now. Seems the smallest order is $250 batches.

Yes, I have seen that offer on the Mint's website. The goal is to have people buy them and use them in daily commerce. My bank didn't have them available when I asked for some a while back. Ordering direct is a nice option. I have thought about ordering some but haven't gotten around to doing so. There isn't any tax. The free shipping is a good thing, too!

[BoxofGold]

I wish they had this program for SAE's and GAE's. :-(

[SongSungAU]

I wish they had this program for SAE's and GAE's. :-(

Ain't that the truth!
Though, they can't keep up with demand now.... imagine what it would be like if.....

[phideaux]

I love dollar coins makes me feel like its the 1800s again and im using real money.hehe.

My local newspaper ran a big article when these presidential coins were introduced. The article called them a "gold coin." I wrote a Letter to the Editor saying in part that a 'gold coin' is a completely different animal than a 'gold-colored coin.' :haha:

Save your FRNs and instead buy a couple of 1/10th ounce Gold Eagles..:biggrin:

[SongSungAU]

Here is a reader's comment to an online article (From metal to money: Making America's coins by Daniel Terdiman).

http://news.cnet.com/8301-13772_3-20009915-52.html

==== begin quote ====
by CitizenPete July 12, 2010 7:52 AM PDT
Other interesting and fun facts about the U.S. Mint readers may like to know:

The U.S. Mint is over 200 years old. Since its creation on April 2, 1792, the Mint has grown to become a Fortune 500- sized manufacturing enterprise with more than $1 billion annual revenues and 2,200 employees. The U.S. Mint is the world?s largest manufacturer of coins, medals and numismatic products.

The distribution of coins differs from that of currency in some respects. First, when the (private) Fed Bank receives currency from the Treasury, it pays only for the cost of printing the notes. However, coins are a direct obligation of the Treasury, so the FED Reserve Banks pay the Treasury the FULL face value of the coins.

--> Dollar coins produced by the U.S. Mint are Sovereign U.S. Money (unlike paper bank money or credit)
--> Coin money is an obligation of the public U.S. Treasury - NOT the privately owned / non-governmental Federal Reserve Bank (FED)
--> The PEF (Public Enterprise Fund) enables the U.S. Mint to create money without an appropriation from Congress or request from the private FED Bank
--> The United States Mint sells all circulating coins to the FED at face value for profit (the profit is called "seigniorage")
--> Seigniorage is transferred by the U.S. Mint to the U.S. Treasury General Fund to help finance (pat down) the national debt. paper money and credit adds to the US Debt because the US government pays the private FED (and the primary private FED lenders) interest on every dollar appropriated into circulation (your taxes go to pay for this interest).
--> Seigniorage does not involve any transfer of financial assets from the U.S. public -- it arises from the exercise of the Federal Government?s sovereign power to create money as provided in the Constitution.
--> There was an attempt (a Bill) in Congress to put the Mint coin production under the control of the private FED - it failed , retaining U.S. Mint Coins as the ONLY true sovereign money of, by, and for the People, issued by our government (and not private banks).

U.S. Coin Dollars cost about 12 cents in material and production cost- The private FED buys them for 1.00 to distribute them to the private banks in the Federal Reserve System. That means that you and I make 88 cents one every coin dollar, since this is used to buy down the debt.

You can trade in paper or electronic private FED money for various quantities of sovereign U.S. dollar coins on the governments U.S. Mint web site - shipping is FREE. Of course you can also go to any private FED bank to exchange FED paper money for US coins.

Bet you never knew you used two different currencies.
==== end quote ====

That's something I've never considered. If we all began using dollar coins instead of FRNs, we'd be bypassing the FED system and actually helping our country pay on our incredible debt.
I really like the idea of the Mint selling the coins to the FED for one dollar each. I think I may order some boxes of dollar coin and start using them instead of FRNs.

What do you guys think about this idea? Doesn't it make the dollar coin more attractive?

[Bryzantium]

Save your FRNs and instead buy a couple of 1/10th ounce Gold Eagles
Please don't misunderstand this isnt money for saving,Wouldn't take away from my gold/silver savings account. This is simply petty cash money. I just like using the coins more then paper. I just never can seem to find more then 5 or so at a time. Just thought it was interesting so I FYI'd yall.

[phideaux]

Please don't misunderstand this isnt money for saving,Wouldn't take away from my gold/silver savings account. This is simply petty cash money. I just like using the coins more then paper. I just never can seem to find more then 5 or so at a time. Just thought it was interesting so I FYI'd yall.

Byz,

Sorry, I know that's what you meant.

My point was that 99.99% of the American public (anybody not tuned in to GIM2 or similar sites) can easily be fooled into thinking that these fancy colored coins are real money. NOT!!:biggrin:

[SongSungAU]

the American public (anybody not tuned in to GIM2 or similar sites) can easily be fooled into thinking that these fancy colored coins are real money. NOT!!:biggrin:

After reading the quote I posted above (from the cnet.com article), I think these coins are more real than FRNs. I only wish the US Mint made $5, $10 and $20 coins now. Then I could not use the FRNs at all.

[NEBULOUS]

You will notice if you go to the Mint's website that you can only purchase 1000 coins (4 bags basically) of these every 10 days. That is because people were buying tens of these bags using cash back reward and frequent flyer credit cards, getting these for face value and free shipping, and then depositing them at the bank when they recieved them, thus acquiring cash back or frequent flyer miles for FREE!!!

There are some smart cookies in this country. I wish I had thought of this early on. Then again, I would feel pretty stupid lugging twenty plus bags of dollar coins to my local teller every other day. Good scam though, while it lasted. You can bet if it as helping to re-liquify the banks, it would still be ongoing. Just not for the little guy to prosper from

[earplugs]

U.S. Coin Dollars cost about 12 cents in material and production cost- The private FED buys them for 1.00 to distribute them to the private banks in the Federal Reserve System. That means that you and I make 88 cents one every coin dollar, since this is used to buy down the debt.


I read this just the other day and was going to mention this. The fed makes more money off of notes than on coins. No wonder, as reported on another gim thread, huge stacks of coins were going off into storage without public use.

[SongSungAU]

You will notice if you go to the Mint's website that you can only purchase 1000 coins (4 bags basically) of these every 10 days.

You'll notice on the website however, "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 adding a box of $1 coin to your cart, you are agreeing to comply with the intended purpose. You're supposed to spend them, not deposit them.

[NEBULOUS]

Yeah, that's the point of my post. it wasn't that way in the beginning, so people were simply taking advantage of a good thing, but now that the mint has causght on, they shut that down.



You'll notice on the website however, "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 adding a box of $1 coin to your cart, you are agreeing to comply with the intended purpose. You're supposed to spend them, not deposit them.

[SongSungAU]

--> The United States Mint sells all circulating coins to the FED at face value for profit (the profit is called "seigniorage")


I ordered a box of Andrew Jackson dollars today. I like Andrew Jackson's attitude regarding central bank power. Srew the FED, that's what I say. I only wish my $250 order really mattered in the big scheme of things. But it made me feel better!

[AgShaman]

I like it....I like it alot.

I'm gonna order some AJ's and Sacajawea's as well....then shove 'em down the public's throat (spend them)....am anxious to see what their reaction will be. I had a Sacaj money clip...gave it to a ex-girlfriend's obnoxious sister...thought it would shut her up for a spell since she loved everything Native American....ah the irony....she was always broke....probably never got the chance to put it to use.

Curiosity will not kill this Cat!

[honu5050]

i give the coins as tips....the waitress give em to their kids....nice shinny gold tone.. ya can leave one. their happy I'm happy. :shine:

[Bryzantium]

Dear Gents
Ok I got mine ordered thanks to Mister SongSungAU Seems the mint doesn't like foxfire. I perfer coinage its not quite silver but its better then paper. Plus im ALWAYS forgetting to take my wallet out when I wash my clothes Ive ruined many FRN's that way.

[<===Foolsgold]

I got $1000 of the coins basically to piss banks off, they are harder to count then bills.

2001 SACAGAWEA $250 BOX $1 COINS 2 $250.00 $500.00 2 units shipped on 04/22/2010
2010 NATIVE AMERICAN $250 BOX $1 COINS 2 $250.00 $500.00 2 units shipped on 04/23/2010

They're all circulated, I only paid $5.95 for the whole shee-bang.

[Metalophile]

I've gotten a couple of boxes before. I spend them per the intended purpose as a thorn in the side to the FED and the banks. Just a bit better than spending FRN.

[SongSungAU]

Due to abuse of the program, the Mint no longer accepts credit cards and debit cards for payment of the $1 Coin Direct program.

9190

[earplugs]

Due to abuse of the program, the Mint no longer accepts credit cards and debit cards for payment of the $1 Coin Direct program.

9190

it's better to get nickels anyway. you get the same effect as with the dollar coins (ie, fed has to pay face value---> easily bankrupting the fed), while at the same time you get a more honest metal content (ie, inflationary hedge ----> nickels worth almost 7 cents in metal while dollar coins are worth....a few pennies????).

[SongSungAU]

it's better to get nickels anyway. you get the same effect as with the dollar coins (ie, fed has to pay face value---> easily bankrupting the fed), while at the same time you get a more honest metal content (ie, inflationary hedge ----> nickels worth almost 7 cents in metal while dollar coins are worth....a few pennies????).

I hear what you are saying but I like to spend the dollar coins instead of spending paper dollars. I don't buy the dollar coins to keep as an investment or anything.