Presidential Coins

I’m guessing that this next method that some people use to accumulate a lot of frequent flyer points might sound crazy to some of you.  I want to cover all ways that people accumulate points, even ones that some people may not choose to do.  Even if it sounds crazy at first, you may choose to do this option for cards that have high spending requirements to get the sign-up bonus.  And this is a method that some of the hard-core gamers use to rack up big frequent flyer balances.  So here we go.

The U.S. Mint sells boxes of rolls of $1 coins (Presidential and Native American) at face value and they do not charge for shipping if you order over $500 in coins.  The point of the program is to get $1 coins into circulation as the life of a coin is much greater than the life of a dollar bill.

This program has allowed people to accumulate a lot of frequent flyer points.  I will explain how they do this.  However, I want to point out that it may not be in accordance with the intent of the program.

The Mint allows you to buy 4 boxes ($1,000) every 10 days.  They buy the boxes using a frequent flyer credit card.  This allows them to get frequent flyer points based on the spend.  The coins are then shipped to them.  Some people use the coins for purchases.  Others take the coins and deposit them in their bank account.  They then use that bank account to pay off their credit card they used to purchase the coins, making it a $0 sum transaction.

A few notes:

  • Be prepared for some funny looks from bank tellers if you bring the coins to the bank
  • Some banks may not accept the coins, so check with your bank ahead of time
  • US Bank will not give you points for these transactions
  • Chase has closed accounts of some account holders who abused the program – use it responsibly
  • Amex has issued financial reviews of some card holders

To order coins, follow this link to the U.S. Mint site.

For more detailed information about this, check out this Flyertalk thread.

If you decide to do this, use it responsibly.  Do not abuse the program.  Do not get greedy.

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