Comments on: Free Money From the U.S. Mint http://www.mydollarplan.com/free-money-from-the-us-mint/ finance. money. action. Fri, 20 Nov 2009 12:02:44 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Money Hacks Carnival No. 26: Old Money Edition | Pecuniarities http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-7536 Money Hacks Carnival No. 26: Old Money Edition | Pecuniarities Sun, 25 Jan 2009 23:51:58 +0000 http://www.mydollarplan.com/?p=516#comment-7536 [...] Madison presents Free Money From the U.S. Mint. [...]

[...] Madison presents Free Money From the U.S. Mint. [...]

]]> By: Agent Scully http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-5975 Agent Scully Mon, 03 Nov 2008 15:50:42 +0000 http://www.mydollarplan.com/?p=516#comment-5975 Qestion for Madison: I am canadian and checked the Canadian mint website, however I can't seem to find coins that have a dollar for dollar value. Most coins listed there for sale are in the 1 dollar coin for 30 dollars range if not more. I can't seem to understand how the US presidential coins are working? Qestion for Madison: I am canadian and checked the Canadian mint website, however I can’t seem to find coins that have a dollar for dollar value.
Most coins listed there for sale are in the 1 dollar coin for 30 dollars range if not more.
I can’t seem to understand how the US presidential coins are working?

]]> By: Passive Income With Coins From The U.S. Mint | The Passive Dad http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4737 Passive Income With Coins From The U.S. Mint | The Passive Dad Tue, 09 Sep 2008 20:20:25 +0000 http://www.mydollarplan.com/?p=516#comment-4737 [...] @ My Dollar Plan found an interesting way to get Free Money From the US Mint. What’s needed is $250-$2,500 in available funds and a rewards credit card. I would not [...]

[...] @ My Dollar Plan found an interesting way to get Free Money From the US Mint. What’s needed is $250-$2,500 in available funds and a rewards credit card. I would not [...]

]]> By: Madison http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4619 Madison Tue, 02 Sep 2008 14:37:27 +0000 http://www.mydollarplan.com/?p=516#comment-4619 @ Online Dividends: I like the way you think! Combining the rewards and a credit card arbitrage scheme all into one. @ Online Dividends: I like the way you think! Combining the rewards and a credit card arbitrage scheme all into one.

]]> By: Don’t Feed the Alligators » Blog Archive » Weekly Feeding 8-23-2008 http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4489 Don’t Feed the Alligators » Blog Archive » Weekly Feeding 8-23-2008 Sat, 23 Aug 2008 15:42:15 +0000 http://www.mydollarplan.com/?p=516#comment-4489 [...] writes about how to earn free money using the US Mint.  While this scheme is not for everyone, it certainly piqued my [...]

[...] writes about how to earn free money using the US Mint.  While this scheme is not for everyone, it certainly piqued my [...]

]]> By: Online Dividends http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4465 Online Dividends Thu, 21 Aug 2008 14:59:24 +0000 http://www.mydollarplan.com/?p=516#comment-4465 Can't you open a 0 % intro APR cash back credit card for 12-15 months,then charge as much as possible on coins and earn rewards points and interest. The only reason why I am not doing this is because I am afraid the coins will "get lost" on their way from the US Mint to my house. In other words your risk/reward ratio is not as rosy as everyone else claims it to be :-) Can’t you open a 0 % intro APR cash back credit card for 12-15 months,then charge as much as possible on coins and earn rewards points and interest.

The only reason why I am not doing this is because I am afraid the coins will “get lost” on their way from the US Mint to my house. In other words your risk/reward ratio is not as rosy as everyone else claims it to be :-)

]]> By: Aaron http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4455 Aaron Wed, 20 Aug 2008 19:25:32 +0000 http://www.mydollarplan.com/?p=516#comment-4455 Scott, Contrary to urban legend, retailers do not need to accept these coins. The phrase "legal tender for all debts public and private" only refers to debt, not to payment for goods or services. If you attempt to pay off a creditor with legal tender, they must accept it. A retailer, however, absolutely has the right to limit the forms of payment they accept, as they often do. Scott,

Contrary to urban legend, retailers do not need to accept these coins. The phrase “legal tender for all debts public and private” only refers to debt, not to payment for goods or services.

If you attempt to pay off a creditor with legal tender, they must accept it. A retailer, however, absolutely has the right to limit the forms of payment they accept, as they often do.

]]> By: Money Hacks Carnival No. 26: Old Money Edition | Our Fourpence Worth http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4446 Money Hacks Carnival No. 26: Old Money Edition | Our Fourpence Worth Wed, 20 Aug 2008 13:02:43 +0000 http://www.mydollarplan.com/?p=516#comment-4446 [...] Madison presents Free Money From the U.S. Mint. [...]

[...] Madison presents Free Money From the U.S. Mint. [...]

]]> By: Scott @ The Passive Dad http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4436 Scott @ The Passive Dad Tue, 19 Aug 2008 18:10:07 +0000 http://www.mydollarplan.com/?p=516#comment-4436 I like this idea as it's a creative way to make some money and would require very little time. Yes, it does require using a credit card, but it should only be used for those that don't carry a balance. If you have a CC balance, it defeats the purpose as you have fees. I do recall reading about a man who paid for a new truck with coins. By law, you could walk into any store and use the coins to purchase your items. Since it's legal currency, they have to accept it. They might look at you funny, but it's still real money. I like this idea as it’s a creative way to make some money and would require very little time. Yes, it does require using a credit card, but it should only be used for those that don’t carry a balance. If you have a CC balance, it defeats the purpose as you have fees.

I do recall reading about a man who paid for a new truck with coins. By law, you could walk into any store and use the coins to purchase your items. Since it’s legal currency, they have to accept it. They might look at you funny, but it’s still real money.

]]> By: Madison http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4399 Madison Sat, 16 Aug 2008 00:25:59 +0000 http://www.mydollarplan.com/?p=516#comment-4399 @ JoeTaxpayer: Good catch! I was referring to the $2500 example that ChumpChange was describing. ($2500 x 2% = $50) Although, you did bring up a really good point which I didn't call attention to in the article... the $500 limit is per President. It looks like there are six currently available right now, so you could buy $2500 worth or more. I think they also add Presidents over time, when they first rolled it out, I think there were only a few available. I expect that they might add more in the future. If you got creative and did the max under each name in your household, the return might start to pay off.... of course you still have the problem of finding a way to deposit the money. @ JoeTaxpayer: Good catch! I was referring to the $2500 example that ChumpChange was describing. ($2500 x 2% = $50)

Although, you did bring up a really good point which I didn’t call attention to in the article…

the $500 limit is per President. It looks like there are six currently available right now, so you could buy $2500 worth or more.

I think they also add Presidents over time, when they first rolled it out, I think there were only a few available. I expect that they might add more in the future.

If you got creative and did the max under each name in your household, the return might start to pay off…. of course you still have the problem of finding a way to deposit the money.

]]> By: JoeTaxpayer http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4396 JoeTaxpayer Fri, 15 Aug 2008 20:49:42 +0000 http://www.mydollarplan.com/?p=516#comment-4396 Madison - do the math. 2% of the $500 limit is $10. As others state, if you spend this, no big deal, but it's not really worth the trip to the bank. Joe Madison – do the math. 2% of the $500 limit is $10. As others state, if you spend this, no big deal, but it’s not really worth the trip to the bank.
Joe

]]> By: Steward @ My Family's Money http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4395 Steward @ My Family's Money Fri, 15 Aug 2008 19:34:58 +0000 http://www.mydollarplan.com/?p=516#comment-4395 My credit card rewards only amount to 1% on these types of purchases and finding $500 worth of things to buy might be overkill for my wife and I. It might be something to look into though since I have always had Scrooge McDuck fantasies and large 500 coins might be enough to give myself a good shampooing. The $50 free bucks would be like icing on the cake. My credit card rewards only amount to 1% on these types of purchases and finding $500 worth of things to buy might be overkill for my wife and I.

It might be something to look into though since I have always had Scrooge McDuck fantasies and large 500 coins might be enough to give myself a good shampooing. The $50 free bucks would be like icing on the cake.

]]> By: Madison http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4394 Madison Fri, 15 Aug 2008 17:47:11 +0000 http://www.mydollarplan.com/?p=516#comment-4394 @ ChumpChange: Great objection. While this is free money, it is one of those that takes some work and arguably, more work than it might be worth. We have a 2% card, so it would only net us $50 in the example, but I would argue that a free $50 isn't bad. I agree that the bank wouldn't be thrilled. So a better use of the money would be using it like you would a normal ATM withdrawal and spending it, as P.D. suggests. @ P.D: Great idea to use it on your normal spending. Do you recall how long it took to get your box of coins? This would also be a great source of money to give to kids for an allowance. @ ChumpChange: Great objection. While this is free money, it is one of those that takes some work and arguably, more work than it might be worth.

We have a 2% card, so it would only net us $50 in the example, but I would argue that a free $50 isn’t bad.

I agree that the bank wouldn’t be thrilled. So a better use of the money would be using it like you would a normal ATM withdrawal and spending it, as P.D. suggests.

@ P.D: Great idea to use it on your normal spending. Do you recall how long it took to get your box of coins?

This would also be a great source of money to give to kids for an allowance.

]]> By: ChumpChange http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4393 ChumpChange Fri, 15 Aug 2008 17:27:24 +0000 http://www.mydollarplan.com/?p=516#comment-4393 Right, actually spending the coins works just fine...but if you're buying the coins to deposit them (as the post suggests), it's not worth your (or the Mint's) while. Right, actually spending the coins works just fine…but if you’re buying the coins to deposit them (as the post suggests), it’s not worth your (or the Mint’s) while.

]]> By: Presidential Dollars http://www.mydollarplan.com/free-money-from-the-us-mint/#comment-4392 Presidential Dollars Fri, 15 Aug 2008 17:19:15 +0000 http://www.mydollarplan.com/?p=516#comment-4392 You could take the offer in a smaller dose. I purchased one box of 250 and have been spending the coins on coffee, lunch, etc. I earn a few extra dollars from the rewards card and also incidentally fulfill the Mint's purpose. You could take the offer in a smaller dose.

I purchased one box of 250 and have been spending the coins on coffee, lunch, etc. I earn a few extra dollars from the rewards card and also incidentally fulfill the Mint’s purpose.

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