If you go through the Mint, you’re making money.” (He hastens to add that the latter is actually more expensive for the government at the moment, but it does have the virtue of getting around a debt ceiling.) Mint to issue platinum coins at the discretion of the Treasury Secretary, an unanticipated side effect of legislation intended to provide for a miniscule trade in commemorative coins?īeowulf, a leading contributor to the blog Monetary Realism, explained his thinking to us this way: “If you go through the Federal Reserve, you’re borrowing money. Treasury and on whether the Fed can legally help the Treasury circumvent the debt ceiling by, for example, overdrafting its account with the Fed.īut Beowulf added a new wrinkle: Why not seize upon the peculiar power of the U.S. He wasn’t talking about circumventing the debt ceiling, which hadn’t yet become a political football, but he may have been on to something.Ī comment thread begun nine days after the original post focused on the relationship between the Federal Reserve and the U.S. He was also inspired by ideas from attorney-turned-finance-author Ellen Brown, who in her 2008 book Web of Debt quoted a 1980s-era director of Treasury’s Bureau of Engraving and Printing as saying the government could solve its debt problems by printing large coins. Code: “Money and Finance.” That Journal article was still rattling around in his head. It’s a fantastic opportunity to earn points and money for buying the coin and sell it to a buyers group.“It was almost a contingency plan, a silly question… What would happen if the government couldn’t get the debt ceiling raised?"Įver the lawyer, Beowulf dived into Title 31 of the U.S. It’s been a minute but there’s finally a US Mint sale this Thursday, March 17. (Just make sure you have enough money to float the purchase in case something like this happens.) Final Approach But PFS’ shipping insurance covered it - and I was reimbursed the full amount. I’ve done a bunch of these deals and never encountered a major problem. FedEx once lost a coin while en route from my location to PFS. (Wha? Something from the government doesn’t work as it should? Shocking, I know.) Prepare for that madness and frustration. Don’t log on a half-hour into the sale and expect to buy one all willy-nilly.Īlso, the US Mint’s website is notoriously glitchy and awful. So, 10,000 valuable coins will likely sell out quickly. Buyers clubs also want their paws on ’em. There are professional and hobbyist coin collectors who want them. That may sound like a lot - but it’s really not. (Hopefully, one earning at least 1.5-2X per dollar spent.) A Couple of Notesįirst, there are 10,000 coins minted for this sale. Others just want to earn points and make a few bucks. If they’re successful with the US Mint coin deal on Thursday, that $5,200+ will certainly help. I know some people who need to spend $10,000 on their Capital One Venture X Rewards Credit Cards to earn a bonus from the previous promotion. PFS reimburses you the cost of the coin and pays your commission. (DO NOT OPEN THE PACKAGE WHEN IT ARRIVES.) PFS sends you a pre-paid shipping label. Related: Why (and How) Do Points and Miles People Buy US Mint Coins?!īasically, you order the coin and pay with your credit card. PFS (and other buyers clubs) will buy the coins from people who successfully order and receive them. ( Join PFS nowand opt-in for the current deal.) That’s where people like you and I come in. But the US Mint enforces a strict, one-order-per-household (read: one per address). PFS Buyers Club wants to source as many coins as possible. But PFS Buyers Club says each set should cost $5,332.50 or $5,240.00, plus $4.95 shipping. The US Mint will release a limited-edition American Eagle 2022 Gold Proof Four-Coin Set this Thursday, March 17, at 12:00 PM Eastern/9:00 AM Pacific. Want to knock out a credit card’s minimum spend requirement - and earn some money in the process? You may have a chance this Thursday to do both.Įven if you don’t care about collector coins, this could be a very attractive opportunity. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Eye of the Flyer and CardRatings may receive a commission from card issuers. has partnered with CardRatings for our coverage of credit card products. Eye of the Flyer, a division of Chatterbox Entertainment, Inc.
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