This just came up on msn and I thought I'd share... http://money.msn.com/credit-cards/article.aspx?post=f486a5ea-40be-4b11-afa1-d8d589dfbf8b>1=33001
Ah gbroke, I've been scooped! Since this was already covered...we can just let this thread die... -LTB
I knew about this for a long time now. Every time I asked my bank for prez dollars I kept getting different presidents and mm's. I asked how they were getting such variety. They said a customer would deposit them every week! I put 2 and 2 together and figured out why he would be doing that. If I had good credit I might have done the same thing. Thanks to that guy Ive found quite a few different presidential errors!
Wow! All one would have to do is buy about 1.5 million in coins and they'll have enough miles for a 250 mile flight! Fantastic deal! Of course, the story is outdated as cc companies and the mint have caught on and have placed restrictions that no longer allow for this practice anymore. In fact, that was almost a year ago. It's a no brainer to realize cc providers don't "give" anything away for free, no matter how much they brainwash their dependents into thinking so. Guy
Gosh it must be a slow news day to be recycling stories from two years ago. (MSN not the OP. In fact it must be a slow week because this story has popped up again from several different news sources over the past week.)
I think it has something to do with the current economic state of the US and the deficit reduction as these coins have accounted for what...$6 billion...worth of the deficit as they sit around in vaults? Heard about this twice on here and a few times in the news even though I already knew about it...so ridiculous
Actually they have reduced the deficit by close to a billion dollars. Seigniorage and profits from collector sales resulted in somewhere close to a billion dollars going into the general fund that wouldn't have otherwise.
