“The United States Mint will implement an order fulfillment charge of $12.50 for each box of $1 Coins purchased through the $1 Coin Direct Ship Program effective November 15. This new charge is a result of our continual effort to review programs to ensure that they meet our commitment to prudent fiscal management on behalf of the American public.”

“There is a 4-box $1 coin limit for every 10-day period on any and all $1 coin orders. Beyond that your credit card will not be authorized.”

It would seem the Canadian Mint doesn’t offer a similar program and only sells collector sets.

“The purchase of $1 coins under the Circulating $1 Coin Direct Ship Program is a cash equivalent or cash-like transaction. Ordinarily, such purchases are not elegible for credit card rewards, cash-back, cash rebate, and similar programs. Check with your card issuer for its terms and conditions.”

Just in case, I’m glad I didn’t charge this to my 0% APR credit card… that’s 0% on purchases – 19.24% Cash APR .

We’ll see what happens. Either way, don’t do this just for the money. If you have any interest in coins this can be fun though. I used to get dollar coins from the bank back when I worked a job where I had to reimburse a lot of people for small amounts of money. You certainly get people’s attention if you pay them in dollar coins – same in retail situations.

The key here is, you must pay off the entire balance of the credit card each month. If you pay off the balance of the credit card you never pay them a dime. I haven’t paid a dime of interest since I opened 4 lines of credit over the past 12 years.

I love playing the 18-36 months no interest and then setting up my own monthly payments to pay off the month before but that is a different topic entirely.

Chump, the key to remember is paying it off and then you come out ahead.

-Skibum415

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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

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.

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