Author Topic: new rule with $1 coins from mint?  (Read 4551 times)

Offline henryd

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new rule with $1 coins from mint?
« on: July 03, 2011, 11:19:50 AM »
i went on the the us mint site to  buy some coins to get passed a threshold adn the link clearly says:
 "The immediate bank deposit of $1 coins ordered through this program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the program."
if i still deposit them, am i breaking a law or does it just work with the honor system?

Offline gpapadop

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Re: new rule with $1 coins from mint?
« Reply #1 on: July 03, 2011, 11:24:13 AM »
yes you are breaking the law, you will be put on the FBI's Most Wanted List and the IRS will confiscate your assets.  Just kidding, it's all right. Just don't go into the same branch every time and piss them off. ;D

Offline Ryan

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Re: new rule with $1 coins from mint?
« Reply #2 on: July 03, 2011, 11:30:31 AM »
This isn't a "new" rule. It has always been the rule and they have started making it more apparent when purchasing the coins over the past year or so.

Offline compddd

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Re: new rule with $1 coins from mint?
« Reply #3 on: July 03, 2011, 11:54:09 AM »
In the other coin thread I think they said Amex caught on to this and the coins don't count as purchases toward spend limits now. I could be wrong though.

Offline aryeh1

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Re: new rule with $1 coins from mint?
« Reply #4 on: July 03, 2011, 12:51:42 PM »
how about chase?

Offline Nitantnel

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Re: new rule with $1 coins from mint?
« Reply #5 on: July 03, 2011, 01:02:12 PM »
how about chase?

I bought coins with a Chase card, deposited it in a chase bank, and it could not go any smoother...

Offline isaacs

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Re: new rule with $1 coins from mint?
« Reply #6 on: July 03, 2011, 01:53:14 PM »
i never purchased any coins from the mint, i see that there are 3 different $1 coins, any difference which one i should buy?
one type is sold out.

Offline henryd

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Re: new rule with $1 coins from mint?
« Reply #7 on: July 03, 2011, 02:53:55 PM »
ha ha, but when you buy something from amazon, you agree to terms and conditions. if you violate them then they invalidate the purchase. does it make a difference if you break terms with a government body, is it something worse? does anyone know definitively?

Offline AJK

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Re: new rule with $1 coins from mint?
« Reply #8 on: July 03, 2011, 03:00:45 PM »
I bought coins with a Chase card, deposited it in a chase bank, and it could not go any smoother...

which chase in bklyn have you had success with?
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline Nitantnel

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Re: new rule with $1 coins from mint?
« Reply #9 on: July 03, 2011, 03:04:59 PM »
which chase in bklyn have you had success with?

The one that Dan goes to...

Offline AJK

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Re: new rule with $1 coins from mint?
« Reply #10 on: July 03, 2011, 03:26:55 PM »
The one that Dan goes to...

care to elaborate?
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline good sam

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Re: new rule with $1 coins from mint?
« Reply #11 on: July 05, 2011, 04:55:39 PM »
i went on the the us mint site to  buy some coins to get passed a threshold adn the link clearly says:
 "The immediate bank deposit of $1 coins ordered through this program does not result in their introduction into circulation and, therefore, does not comply with the intended purpose of the program."
if i still deposit them, am i breaking a law or does it just work with the honor system?

What is the definition of "immediate bank deposit?" What exactly am I agreeing to when I buy these coins?  Can I deposit them after 20 minutes? 2 days?
If you don't care why would you comment?
HT: DMYD

Offline AJK

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Re: new rule with $1 coins from mint?
« Reply #12 on: July 05, 2011, 05:01:42 PM »
What is the definition of "immediate bank deposit?" What exactly am I agreeing to when I buy these coins?  Can I deposit them after 20 minutes? 2 days?

Blah blah blah - AFAIK, you're not "agreeing" to anything. They're just telling you that buying them simply to deposit them in a bank is not what these are being sold for; they're being sold to "replace" dollar bills (which they wont do if they never enter circulation).
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline good sam

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Re: new rule with $1 coins from mint?
« Reply #13 on: July 05, 2011, 05:05:09 PM »
Blah blah blah - AFAIK, you're not "agreeing" to anything. They're just telling you that buying them simply to deposit them in a bank is not what these are being sold for; they're being sold to "replace" dollar bills (which they wont do if they never enter circulation).

My point is that nothing can happen if you deposit them because this "policy" is ambiguous and undefined.
If you don't care why would you comment?
HT: DMYD

Offline AJK

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Re: new rule with $1 coins from mint?
« Reply #14 on: July 05, 2011, 05:06:37 PM »
My point is that nothing can happen if you deposit them because this "policy" is ambiguous and undefined.

...and my point is that nothing can happen because this "policy" does not even threaten or warn of any negative consequences.
2015: 116K bkd | 1.6M brnd | F: OZ,NH,AA,EK | J: UA,CA,TK,DL,TN,AF,VA | LIH,NRT,ROR,PEK,CNS,BOB,MEL,TLV & Pacific Hopper

Offline good sam

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Re: new rule with $1 coins from mint?
« Reply #15 on: July 05, 2011, 05:12:56 PM »
...and my point is that nothing can happen because this "policy" does not even threaten or warn of any negative consequences.

So we are all in agreement
If you don't care why would you comment?
HT: DMYD