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However without a law on the books to stop such schemes, it wouldn’t be fair to blame the U.S. Mint, they did try and crack down on these practices by mailing out letters and doing their best to stop shipments to the biggest abusers.
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The system was set up to promote the use of dollar coins and we are simply trying to do the right thing here." That's not what the system was set up to do. Mint was quoted as saying "It's not illegal," he said, "But it's an abuse of the system. Not specific to any one incident but rather the practice in general, a spokesman for the U.S. When all was said and done, his total rewards bounty had a value which was tens of thousands of dollars. When he fancied cash back, he initially used the Chase Freedom but quickly switched to the Fidelity card programs since they offered much higher rebates. He preferred airline programs which offered additional cards (under different names) at no cost, such as what the United Airlines credit card offers. To further mask his identity, the man allegedly had a portfolio of different credit cards to use for his orders. Mint quickly placed restrictions on how many and how often a given person could buy, this man claimed to have a vast network of friends, family members, and personal mail boxes to accept his constant flow of deliveries. 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.
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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.
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Download it and give it a try and if you find that it is not for you, simply uninstall it from your computer and you are done.Of course, that theory was flawed. So, while Coin Manage is not free coin collecting software, it is the next best thing when you use the 30 day free trial. Here is a screen shot to give you an idea of what Coin Manage looks like. Instantly see which coins you need to complete a particular type. Types and Varieties Manager allows you to add data for Countries or Varieties not present in the program database. 100 working method to get free Apex coins in 2021. 100 ban proof for your Apex Legends account. Keep track of defects, Purchase and Selling info, etc. Free to use (we promise not to monetize this method) This method can work on all available browsers.
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