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For the big timers with Credit Card Rewards...

post #1 of 16
8/18/09 at 12:16am
Thread Starter 
If any of you big timers have a 5% rewards card (Citi offers one) and $100K+ limit, you can make booze money buying thousands of dollar of coins from the US Mint at face price. It shows $5 shipping, but that is removed when you go through check out. Maximum $500 per president per order, no maximum amount of orders allowed though. http://catalog.usmint.gov/webapp/wcs...dentifier=8100 I have $10K coming right now (small timer), my local bank already hates me
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post #2 of 16
8/18/09 at 12:17am
Quote:
Originally Posted by Cavalier View Post
If any of you big timers have a 5% rewards card and $100K+ limit, you can make booze money buying thousands of dollar coins from the US Mint at face price. It shows $5 shipping, but that is removed when you go through check out. Maximum $500 per president per order, no maximum amount of orders allowed though.

http://catalog.usmint.gov/webapp/wcs...dentifier=8100

I have $10K coming right now (small timer), my local bank already hates me

Hahaha this is brilliant. Thank you!!
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post #3 of 16
8/18/09 at 12:21am
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post #4 of 16
8/18/09 at 12:22am
Thread Starter 
The best part is that most orders are processed next day, and they still send them next day shipping with the standard shipping service (free). The trick is to place orders for $500 worth of each president individually in case one set of coins becomes back ordered it will delay your entire order. Also, if your limit is high enough, it might be worth depositing the money for a couple weeks in an account with a decent interest rate before paying your CC statement.
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post #5 of 16
8/18/09 at 12:23am
I'm going to leave my wallet at home and start walking around with massive money bags.
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post #6 of 16
8/18/09 at 12:26am
Quote:
Originally Posted by MetroStyles View Post
I'm going to leave my wallet at home and start walking around with massive money bags.

You need a monocle.
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post #7 of 16
8/18/09 at 12:28am
Quote:
Originally Posted by MetroStyles View Post
I'm going to leave my wallet at home and start walking around with massive money bags.
pfffft small timer. I'm going to build a vault and swim around in them in my cashmere robe.
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post #8 of 16
8/18/09 at 12:29am
Quote:
Originally Posted by HomerJ View Post
pfffft small timer.

I'm going to build a vault and swim around in them in my cashmere robe.


Have fun doing that. I'll be using my gold coins in more fetching ways.

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post #9 of 16
8/18/09 at 12:30am
No you wont. http://www.youtube.com/watch?v=y3KRQSpORW0
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post #10 of 16
8/18/09 at 12:33am
Quote:
Originally Posted by Dashaansafin View Post
Quote:
Originally Posted by MetroStyles View Post
Have fun doing that. I'll be using my gold coins in more felching ways.
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post #11 of 16
8/18/09 at 12:36am
I don't get this. So the US gov will pay the CC fee (2% or whatever) when selling at face value?
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post #12 of 16
8/18/09 at 12:38am
Thread Starter 
Quote:
Originally Posted by HEWSINATOR View Post
I don't get this. So the US gov will pay the CC fee (2% or whatever)?
Yes and shipping costs, welcome to the wonderful world of fiat currency. It only actually costs the government about 15 cents per coin to produce.
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post #13 of 16
8/18/09 at 12:49am
Wow very interesting....
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post #14 of 16
8/18/09 at 1:03am
Quote:
Originally Posted by HEWSINATOR View Post
I don't get this. So the US gov will pay the CC fee (2% or whatever) when selling at face value?

CC fee? what CC fee?
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post #15 of 16
8/18/09 at 1:06am
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Quote:
Originally Posted by rjakapeanut View Post
CC fee? what CC fee?
Credit card companies charge the merchant a fee on each CC transaction, AMEX has the highest fee IIRC.
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