3 ms·

There are people who buy dollar coins straight from the US mint (with free shipping) with credit cards, deposit the coins to pay off the bill, and accumulate re

There are people who buy dollar coins straight from the US mint (with free shipping) with credit cards, deposit the coins to pay off the bill, and accumulate rebates and frequent flier miles. IIRC one guy bought an appreciable fraction of a million dollars worth of coins, a few grand at a time, and got a similarly ridiculous number of frequent flier miles out of it. One reason this is considered "real life hacking": it's an exploit of a bug. Credit card companies generally exclude "buying cash" from their rewards programs ("some restrictions may apply"), but some of them failed to account for dollar coins as a form of cash.

Judson 17y ago
And they got free shipping on the coins! Story is here: http://www.google.com/url?q=http://online.wsj.com/article/SB126014168569179245.html http://www.google.com/url?q=http://online.wsj.com/article/SB... (google link to get behind paywall)
- dhyasama 17y ago
  I'm assuming the Treasury is funded by taxpayers which means the free shipping is paid for by taxpayers. Cool hack but kind of lame.
  - dazmax 17y ago
    Not to mention the credit card fees, which is what actually funds the miles.
    - jrockway 17y ago
      The irony is that if you pay your taxes with a credit card, you have to pay the credit card fees in addition to the balance on your taxes.
  - christonog 17y ago
    Actually the U.S. Mint is one of the few government bodies that is widely profitable. http://www.usmint.gov/pressroom/?flash=yes&action=press_release&ID=227 http://www.usmint.gov/pressroom/?flash=yes&action=press_... Granted it's from 2001, but I visited the mint in Denver earlier this year and they still claim the same thing.
    - dangrover 17y ago
      I'd hope they're profitable, given that they're literally printing money.
      - christonog 17y ago
        Hate to be nitpicky, but the U.S. Mint does not print anything. They mint coins. They fund operations with licensing the Minting machines to other nations and collectible coins. They also at one point minted other nations'coins.
Sam_Odio 17y ago
I actually tried this a few months back. No longer works...at least not if you purchase the maximum order ($5,000).

Judson 17y ago

And they got free shipping on the coins! Story is here: http://www.google.com/url?q=http://online.wsj.com/article/SB126014168569179245.html http://www.google.com/url?q=http://online.wsj.com/article/SB... (google link to get behind paywall)

dhyasama 17y ago
I'm assuming the Treasury is funded by taxpayers which means the free shipping is paid for by taxpayers. Cool hack but kind of lame.
- dazmax 17y ago
  Not to mention the credit card fees, which is what actually funds the miles.
  - jrockway 17y ago
    The irony is that if you pay your taxes with a credit card, you have to pay the credit card fees in addition to the balance on your taxes.
- christonog 17y ago
  Actually the U.S. Mint is one of the few government bodies that is widely profitable. http://www.usmint.gov/pressroom/?flash=yes&action=press_release&ID=227 http://www.usmint.gov/pressroom/?flash=yes&action=press_... Granted it's from 2001, but I visited the mint in Denver earlier this year and they still claim the same thing.
  - dangrover 17y ago
    I'd hope they're profitable, given that they're literally printing money.
    - christonog 17y ago
      Hate to be nitpicky, but the U.S. Mint does not print anything. They mint coins. They fund operations with licensing the Minting machines to other nations and collectible coins. They also at one point minted other nations'coins.

Sam_Odio 17y ago

I actually tried this a few months back. No longer works...at least not if you purchase the maximum order ($5,000).