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Buying Coins From US Mint Through Credit Card Is Dead

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The opportunity to purchase one dollar coins from the mint via credit card has now ended.  I admit I took advantage of this opportunity a few times back when there were less restrictions.

Here is a message from the US Mint:

The United States Mint has eliminated the credit and debit card purchase of $1 Coins through its Direct Ship Program effective July 22, 2011. Customers who wish to purchase $1 coins through the Direct Ship Program can still do so by wire transfer, check, or money order. Customers who wish to purchase the coins by wire transfer may fax their order to: (202)-756-6585. Customers interested in purchasing by check or money order may do so by writing to:

United States Mint
PO Box 71192
Philadelphia, PA 19176-6192
Please download the order form and follow the instructions provided on the form. (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, returned coins to the Federal Reserve. While not illegal, this activity was a clear abuse and misuse of the program.

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 measures 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.

Editorial Note: Opinions, analyses, reviews or suggestions expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

About the Author

About the author: The Weekly Flyer is writes about travel from a business traveler perspective. He travels the world every week accumulating points and miles along the way. Feel free to reach me at theweeklyflyer@gmail.com

{ 3 comments… add one }

  • SCL July 22, 2011, 9:26 pm

    It’s about time.

  • deltagoldflyer July 23, 2011, 4:52 am

    :-(

  • Dan August 23, 2011, 2:51 pm

    Was this posted today? The deal has been dead since early summer.

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