RIP Free Miles and Points Courtesy of the US Mint Dollar Coins
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
I can honestly say I never once bought a dollar coin, but I know many of you have. Recently the practice caught a LOT of press with an NPR piece and as of today, you can no longer buy dollar coins with a credit or debit card (per the announcement below). I know this is a sad day for many of you, but all I can say is to pick your head up and focus on the next deal.
All good things must come to an end! However, I’m curious to know how many points/miles you all generated using this method, so feel free to share your thoughts below.
If you have no idea what I’m talking about, you used to be able to buy coins from the US government with free shipping, thus creating free miles since you could deposit them back into your bank and pay off that same credit card bill. See Mr. Pickles blog post on the topic.
Dear United States Mint Direct Ship Customer:
The United States Mint has eliminated the credit and debit card purchase of $1 Coins through its Direct Ship Program effective July 20, 2011. Customers who wish to purchase $1 coins through the Direct Ship Program can still do so by using a wire transfer, money order or check. Customers who wish to purchase the coins by wire transfer may fax their order to (202)756-6585. Customers interested in purchasing by money order or check may do so by submitting your request in writing to the following address:
United States Mint
PO Box 71192
Philadelphia, PA 19176-6192
Please download the order form which includes wire transfer information and follow the instructions provided on the form. http://www.usmint.gov/downloads/directShip/orderform.pdf
If you currently have an open $1 coin Direct Ship order placed with the United States Mint, that order will be cancelled. Please resubmit your order by wire transfer, check or money order using the order form. The Mint has determined that this policy change is prudent due to ongoing activity by individuals purchasing $1 coins with credit cards, accumulating frequent flyer miles, and then returning coins to local banks. Local banks, in turn, return coins to the Federal Reserve. While not illegal, this activity is a clear abuse and misuse of the program which was intended to facilitate the use of $1 coins in cash transactions.
The Mint has undertaken several aggressive internal and external actions to mitigate this issue, including restricting chronic and repeated use of credit cards, contacting customers who frequently placed large numbers of orders to ensure they were using the coins for legitimate business purchases, and other measures. While these efforts eliminated a significant amount of misuse in the program, we believe some abuse still exists. Eliminating the credit and debit card purchase of the $1 coin is the next step in our efforts to root out abuse in this program and ensure it is better targeted toward fulfilling its intended purpose – which is to get the $1 coin into greater circulation.
Thank you for your understanding and your continued support of the $1 Coin Program.
The United States Mint
Welcome to The Points Guy!
WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,650
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.