![]() However the most outrageous story CreditCardForum has heard was from a man who reportedly ordered over $2,400,000 worth of dollar coins in total, since the inception of the program. One forum poster even directed the shipment of coins straight to the bank whom his mortgage was with, so he didn’t have to “hassle with hauling them over myself, because I have a bad back.” In a nutshell, he’s pointing out that by law, folks are allowed to pay debts such as their car payments using crates of coins, if they wish to do so. Wal-Mart doesn't have to accept them for a real-time purchase, but the county tax collector or or the lender of your car note DOES have to accept them).” “…the Coinage Act of 1965, which states that any DEBT can be paid with any legal tender US currency. “My partner and I will be departing on a luxury first class vacation in the French Riviera using this frequent flyer miles strategy!” exclaimed a poster on CreditCardForum discussing the dollar coins.Īnother poster replies with this clever piece of advice: A whole cottage industry emerged, concocting schemes to buy (and quickly return to banks) the massive shipments of dollar coins, while keeping the cash back and miles earned through their credit cards. With free shipping and credit card payments accepted, you can guess where this story is heading. Mint launched a “direct ship” program in June 2008, to sell the coins to the public. ![]() However there is a segment of the population that happens to love these coins and that all started when the U.S. ![]() Not surprisingly, this has resulted in an ever-growing stockpile of the unwanted dollar coins – presently around $1.2 billion of them, according to NPR. Like most government programs, they forgot to address the basic question “Do people actually want a clunky pocketful of coins?” But instead of asking that, they thought it would be best to just shove ‘em down our throats and hope for the best. Account icon An icon in the shape of a person's head and shoulders. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |