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Old 07-13-2011, 09:54 PM   #1
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Travel Hacking

Travel Hackers | Gold Coins | Frequent-Flier Miles | T... | XYDO

Dollar coins may not be popular among most Americans, but they sure are for people who like to travel for free.

An NPR report cites “travel hackers” who use their credit cards, which award frequent flier miles for purchases, to purchase dollar coins from the U.S. Mint.

Once they have the coins, they can either ship them back to government reserves for free or deposit them in their bank accounts.

The act isn’t illegal, but since 2008, the Mint enacted a 1,000 coin purchase limit for every ten days.

Congress mandated the minting of presidential dollar coins in 2005 in an attempt to make dollar coins popular among Americans. Since then, over $1 billion worth of coins have been stored in Federal Reserve vaults. The coins will continue to be minted, and stored if not used, under the congressional mandate.

Read more: Travel Hackers | Gold Coins | Frequent-Flier Miles | The Daily Caller


That's fucking genius! Not only would it be a great way to get frequent flier miles. It would be awesome for maxing out your credit score! I heard this on npr and they were talking to people who bought Hundreds of Thousands of coins at once then simply deposited them in their local bank without even bothering to take them out of their collectors boxes.
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Old 07-13-2011, 10:00 PM   #2
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Re: Travel Hacking

Wait, what?

So they accumulate frequent flyer miles by charging flights on the cc. They exchange those points for dollar coins. (How many FF miles, on average, per coin?) Then they put them in the bank? And why would they ship them back to the government? Just for safe keeping in the Fed's vaults?
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Old 07-13-2011, 10:07 PM   #3
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Re: Travel Hacking

No If I get this, they are racking up points for Buying nothing.

They buy dollars with their dollars, each dollar spent buying a Dollar, gets points for air miles. Then you redeposit the coins.
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Old 07-13-2011, 10:08 PM   #4
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Re: Travel Hacking

Ok.. basically it goes like this. In order for the fed to get rid of the MASSIVE amount of dollar coins they have stockpiled because congress decreed they mint them, but the american people don't use them. They offered an initiative program. They send you a Dollar coin for 1 Dollar. No shipping.. just a clean across exchange. People buy Thousands of the coins with a credit card that gives frequent flier miles for every dollar spent. They then take the coins to the bank pay off the credit card. Then Do it all over again.
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Old 07-13-2011, 10:08 PM   #5
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Re: Travel Hacking

Originally Posted by AnnonUSA View Post
No If I get this, they are racking up points for Buying nothing.

They buy dollars with their dollars, each dollar spent buying a Dollar, gets points for air miles. Then you redeposit the coins.
Anon beat me to it, and explained it far more eloquently.
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Old 07-13-2011, 10:09 PM   #6
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Re: Travel Hacking

Brilliant.
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Old 07-13-2011, 10:10 PM   #7
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Re: Travel Hacking

Oh I get it. I was like wtf before. So they are just racking up hella frequent flyer points.
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Old 07-13-2011, 10:56 PM   #8
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Re: Travel Hacking

Originally Posted by TheBagman View Post
Oh I get it. I was like wtf before. So they are just racking up hella frequent flyer points.
This is a genius scam. I mean yeah you would need a really high credit limit to make it work best, but shit, free is good
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Old 07-14-2011, 12:55 AM   #9
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Re: Travel Hacking

I hate carrying change. I will attempt to use it at all costs over breaking $1.
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Old 07-14-2011, 01:11 AM   #10
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Re: Travel Hacking

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Old 07-14-2011, 01:19 AM   #11
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Re: Travel Hacking

Originally Posted by The Egg View Post
this was annons daily commute from jersey shore to manhattan.
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