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do banks have or can they get presidential dollars?
Posted:
Thu Jan 27, 2011 10:27 pmby 97guns
just wondering, i got one in the mail today and wiki'd them to find out theyre 88% cu .
Re: do banks have or can they get presidential dollars?
Posted:
Thu Jan 27, 2011 10:36 pmby aloneibreak
some banks have them available as they come out
not ideal to hoard for metal value because of the high face value
best way to get large quantities is surprisingly through the mint
http://catalog.usmint.gov/webapp/wcs/st ... ifier=8100
Re: do banks have or can they get presidential dollars?
Posted:
Thu Jan 27, 2011 11:26 pmby misteroman
Picked up a 1k unopened box or aves a few weeks back
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 12:20 amby Joogaler
Best thing about ordering from the mint is that you get them for FV shipped!
Alot of people order them so they can get the rewards with their credit cards.
http://catalog.usmint.gov/webapp/wcs/st ... ifier=8100
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 12:38 amby cesariojpn
http://www.usmint.gov/mint_programs/%24 ... directShipThe intended purpose of the Circulating $1 Coin Direct Ship Program is to make $1 coins readily available to the public, at no additional cost, so they can be easily introduced into circulation—particularly by using them for retail transactions, vending, and mass transit. Increased circulation of $1 coins saves the Nation money. 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.
http://creditcardforum.com/blog/buying- ... d-rewards/If You Were Thinking of Trying This…
While reading this post, I bet some of you were thinking it sounds like a good idea! (Off the record, I might have thought the same thing today when I found out about this too, ha!) However as it turns out, this “deal” no longer works. The mint has now changed its billing so these coin purchases are counted as cash advances instead of purchases. A credit card cash advance doesn’t earn rewards and the interest usually starts accumulating immediately from the time of purchase. So if you were thinking about doing this, think again
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 12:42 amby Joogaler
Oh ok, didn't know that. How dare people take advantage of the US government like that...
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 10:59 amby 97guns
so im guessing you guys have some of these, are they worth getting?
i have a sizable amount of fiat dollars that i should convert into something, just wondering if i should get some of these or just keep stacking nickels silver and gold.
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 11:31 amby Crescendo
The presidential dollar coins ($1000 per box ordered) can easily be ordered through a bank branch. Done correctly, easy to get without any fees if you don't mind circulated.
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 11:48 amby highroller4321
Presidentail dollars are still considered "commerative" coin so yes the banks should be able to order them for you from their armored. Most likely you will only be able to get the latest ones though.
97guns: NO NO NO NO NO NO NO NO NO NO NO NO!!!!!! Do NOT convert all your FRN into these worthless coins. There are TONS of all of the dollars coins. 88% of the presidentail dollars minted are sitting in FED inventories across the country. Only some 12% stay circulating. Also there melt value is way below $1. Buy silver, gold, copper, heck almost anything else before you buy these
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 11:56 amby 97guns
10-4
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 11:59 amby Crescendo
Also, this may be a bit silly, but if you're just trying to pick up some every now and then without going out of your way at all, when you go to your grocery store (higher volume ones), ask the customer service people if they could save them/give them to you when you come by to buy your food. They hate having them, and apparently it is a really big pain for them to ship them out via their courier service.
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 12:36 pmby AdamsSamoa
Roger... Do not buy them for Bullion.... If you just want a collection of them (I do it) ... buy the proof mint set from the mint for like 9 bucks.
Coinflation...$0.0748859 is the melt value for the 2007-2011 Presidential golden dollar on January 28, 2011.
So that would be getting 7 cents worth of metal for $1.00
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 2:00 pmby 68Camaro
If You Were Thinking of Trying This…
While reading this post, I bet some of you were thinking it sounds like a good idea! (Off the record, I might have thought the same thing today when I found out about this too, ha!) However as it turns out, this “deal” no longer works. The mint has now changed its billing so these coin purchases are counted as cash advances instead of purchases. A credit card cash advance doesn’t earn rewards and the interest usually starts accumulating immediately from the time of purchase. So if you were thinking about doing this, think again
Wrong on this one - the "Deal" works.
Charges as a regular charge, earns points. At least on my card. And no fee...
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 3:42 pmby cesariojpn
68Camaro wrote:Wrong on this one - the "Deal" works.
Charges as a regular charge, earns points. At least on my card. And no fee...
IIRC, the US mint has told many of the CC companies about this, so enjoy it while you can.
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 7:12 pmby 68Camaro
Maybe, but according to the US Mint site, to deal with the issue they have instead simply limited the number of orders one can place in a month. They would not be able to charge it as a cash advance without some advance warning, which they do not do.
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 9:21 pmby bankmining
Almost all the banks I go to while half searching have lots of the presidential dollars, in fact over half the time they try to convince me to buy some to get them off their hands and I always decline.
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 9:34 pmby AdamsSamoa
Funny story.... I lived in american samoa for 2 years... got back to the mainland a few monts ago... any way.... my name is John Adams... I had 500 dollars sent over from the mint direct ship progam and started spending them. Well it is a small island and tight community. I was always asked how do I get dollars with my name on them.... any way. I spent them all... and they will be there forever. Money rarely leaves the island....
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 9:41 pmby TXBullion
AdamsSamoa wrote:Funny story.... I lived in american samoa for 2 years... got back to the mainland a few monts ago... any way.... my name is John Adams... I had 500 dollars sent over from the mint direct ship progam and started spending them. Well it is a small island and tight community. I was always asked how do I get dollars with my name on them.... any way. I spent them all... and they will be there forever. Money rarely leaves the island....
if that were the case for me, I would only use these as my payment, nothing else
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 9:49 pmby AdamsSamoa
I did not think about it until I was getting ready to leave.... otherwise there would have been a lot more left on the island
Re: do banks have or can they get presidential dollars?
Posted:
Fri Jan 28, 2011 10:00 pmby Copper Catcher
I think I still have a roll of two of Washington if you want to buy them at face plus postage.
Re: do banks have or can they get presidential dollars?
Posted:
Mon Jan 31, 2011 1:35 pmby dp2007
I bought $250 of George Washington dollars from the US mint just the other day. Used my credit card and it was processed as a regular charge.
Re: do banks have or can they get presidential dollars?
Posted:
Mon Jan 31, 2011 10:24 pmby Pennybug
I went to a Forest Street bank in Wally world the other day and asked the teller if they had any "other unusual" coins around. She handed me a large cup that was FULL of those things. I don't collect them... but just FYI... if you are interested in collecting them... just ask a teller! I've learned you NEVER KNOW what tellers have laying around! Most of the time they are more than willing to part with "uncommon" coins.