NPR Morning Edition - Presidential Coins

Discussion in 'General Discussion | Miles/Points' started by gobaking, Jul 12, 2011.  |  Print Topic

  1. gobaking

    gobaking Active Member

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    I just heard a promo for tomorrow's NPR Morning Edition. They are doing a story on buying presidential coins from the U.S. Mint to get frequent flyer miles. I didn't catch everyone they are interviewing, but I did catch that Ben will be on it. Should be interesting to hear NPR's take. At the end of June they did a story about how the U.S. Mint was mandated by Congress to make $1 coins that nobody wanted. I remembered thinking at the time it wasn't true that nobody wanted.
     
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  2. NYBanker
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    NYBanker Gold Member

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    Oh boy...
     
  3. aitchly
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    aitchly Silver Member

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    Thanks for the news alert. I imagine the Mint will act again to clamp down on shipments . . . that will put ordering into the version 4, from some to 99 boxes to one address to different cards . . . .:rolleyes:
     
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  4. druiddation
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    druiddation Gold Member

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    If anyone contributes to their (seemingly bi-weekly) fundraisers give them all $1 coins next time. :D
     
  5. viguera
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    viguera Gold Member

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    Seriously... is anybody NOT talking about dollar coins lately? Seems like everywhere you look there's a story.
     
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  6. Steven Schwartz
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    Steven Schwartz Gold Member

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    I just don't get who loses when people buy the coins, even if it's just for the miles.
     
  7. dayone
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    dayone Silver Member

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    The banks, which must pay to transport the deposited coins and the Fed, which must pay to store them.
     
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  8. danny
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    danny Silver Member

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    Overall the financial services industry still gains in the way of transaction fees generated.
     
  9. Gargoyle
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    Gargoyle Milepoint Guide

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    :)
    Looks like this game is about over.
     
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  10. Tenmoc
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    Tenmoc Gold Member

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    Anyone have a link to the story yet?
     
  11. Mike1625
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    Mike1625 Silver Member

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    If I had a dollar coin for everytime someone said the game is about over ...... oh, wait ..... I do have a dollar coin for everytime someone said that ..... nevermind, carry on.
     
  12. Tenmoc
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    Tenmoc Gold Member

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    Well we can't exactly believe the things Congress says regarding about what the public actually wants.
     
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  13. penumpang
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    penumpang Gold Member

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  14. Tenmoc
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    Tenmoc Gold Member

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    Well if that wasn't just a bit misleading....
     
  15. MSPeconomist
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    MSPeconomist Gold Member

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    Can anyone give a link to the transcript (not audio or video) please.
     
  16. penumpang
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    penumpang Gold Member

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    As of now, the transcript is not yet available (shows as pending).
     
  17. Tenmoc
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    Tenmoc Gold Member

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    Usually 3-4 hours after air with NPR for that.
     
  18. Andyandy
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    Andyandy Gold Member

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    I noted the bit about the program remaining viable until "credit card issuers crack down." Why would they? They're getting transaction fees. If you're doing as most minties do, you pay your entire balance each month and the risk to the issuer is minimal. Also, for those who say that the mint is taking a big hit on the transaction fees/shipping, I'd be interested to know what normal distribution costs are vs. direct ship costs.
     
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  19. Andyandy
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    Andyandy Gold Member

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    Hah! The only thing that will stop it is congressional action ending the coin mandate. I'm sure they'll get right on that.
     
  20. Andyandy
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    Andyandy Gold Member

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    Think about it this way. The direct ship program isn't the reason these coins are being minted. They are being minted in order to comply with US law. If direct ship went away they would still be minted, they would still be distributed, and they would still end up sitting in the Fed. At best, the delivery mechanism would be more efficient, and, since we're talking about a government program, I'm not so sure about that.
     
  21. Andyandy
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    Andyandy Gold Member

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    "History doesn't repeat itself, but it rhymes." There seems to be a cycle at work. Orders go up, someone does a story, the mint changes it's policy, orders go down, the mint changes it's policy again, orders go up, someone does a story...
     
  22. iolaire
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    iolaire Gold Member

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  23. rharrigill
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    rharrigill Silver Member

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    "The top 20 customers bought between $219,000 and $696,000 worth, says Mint spokesman Tom Jurkowsky"

    Hmm...I wonder who that could have been...
     
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  24. dayone
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    dayone Silver Member

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    That wasn't the question.
     
  25. FlashBack
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    FlashBack Silver Member

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    They have their facts wrong.
     

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