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OT, the Treasury has a program of selling dollar coins with free shipping, to encourage dollar coin usage. And they accept credit card payment. People have be
by ww520 16y ago
OT, the Treasury has a program of selling dollar coins with free shipping, to encourage dollar coin usage. And they accept credit card payment. People have been using credit cards to buy the coins and deposit them to the banks. It's a good way to earn credit card cashback.
- chopsueyar 16y agoFree market, baby!
- alaithea 16y agoI wonder how many of us it would take to start affecting change (no pun intended) among our local retailers by getting dollar coins this way and proceeding to use them around town on a consistent basis.
- ww520 16y agoHere's the link. https://www.usmint.gov/mint_programs/$1coin/?action=directShip https://www.usmint.gov/mint_programs/$1coin/?action=directSh... From what I heard the Treasury doesn't lose money with the direct-ship program, at least with accounting on paper. It's kind of weird. They create the money out of the thin air using some metal. We bought them at face value using our money. The cost of the coins would be the metal, the minting process, plus the shipping cost, which is less than the face value of the coins. It defies intuition when it comes to the fiat money creation process. Of course coins out-last paper money many times and have long term cost saving result for the Treasury.
- hga 16y agoThe term of art for this is seigniorage: http://en.wikipedia.org/wiki/Seigniorage http://en.wikipedia.org/wiki/Seigniorage See especially the "Seigniorage Today" section.