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Ben at One Mile at a Time recently posed the question, “Is the mint ‘game’ worthwhile?” For those of you who don’t know, the US Mint gives free shipping on dollar coins for the purpose of getting them into circulation. Many Flyertalkers picked up on this deal in mid 2008 and started ordering thousands of dollar coins on their points earning credit cards and then depositing the coins back into their bank accounts. With free shipping, the only cost would be the time and hassle spent lugging thousands of dollar coins into your bank and convincing them to accept the loot.

I haven’t bothered with the mint coin deal because I live in NYC and don’t have a car or a bank branch within walking distance of my apartment. It would be too much time and effort to do it, though I have to say I’m jealous of the people who have banked hundreds of thousands of points doing this.

The US Mint knows that mileage freaks are taking advantage of the offer and they’ve cracked down on the number of coins you can order, limiting it to 1,000 every 10 days (per this link).  So in essence you can earn about 36,000 points a year (and possibly more if you have multiple people in your household).  So if you need to spend some money to hit a spend threshold on one of your credit cards, you can always buy a bunch of dollar coins and either try depositing them at your bank or simply using them day to day.

Do any Points Guy readers have interesting coin stories? Make me proud, people!

Chase Sapphire Preferred® Card

With great travel benefits, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game.

Apply Now
More Things to Know
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR on Purchases
N/A
Regular APR
16.49% - 23.49% Variable
Annual Fee
Introductory Annual Fee of $0 the first year, then $95
Balance Transfer Fee
5.00%
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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