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SJJ
- Posts:23
- Joined:Tue Jul 30, 2019 11:31 pm
[Articles] 2011 - Mint Coin Bans $1 Coin Trick
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by SJJ » Sat Aug 10, 2019 6:03 pm
https://www.businessinsider.com/us-mint ... les-2011-7
It all started with the Presidential One Dollar Coin Act of 2005, an effort that was meant to save taxpayer money, by encouraging Americans to use dollar coins instead of paper bills. The theory was that coins have a longer circulation life, and hence, they would be the superior alternative.
U.S. Mint launched a "direct ship" program in June 2008, to sell the coins to the public. With free shipping and credit card payments accepted, you can guess where this story is heading.
a man who reportedly ordered over $2,400,000 worth of dollar coins in total, since the inception of the program
another article -
https://www.creditcards.com/credit-card ... s-1263.php
On July 22, 2011 the U.S. Mint posted this on their website:
"The Mint has determined that this policy change is prudent due to ongoing activity by individuals purchasing $1 coins with credit cards, accumulating frequent flyer miles, and then returning coins to local banks."
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Gershy
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by Gershy » Mon Aug 26, 2019 6:14 pm