Four More Uses for Gold Dollar Coins

I've asked you all if you use or plan on using gold dollar coins and followed that up with a post on some various uses for them. Well, since that time, I ordered $500 more in gold dollar coins to help out my annual credit card rewards balances, but I also found a few more uses for the coins, and thought I'd share those with you. Here goes:

• We used them as "blessing money" throughout the holidays. We gave them in Salvation Army kettles as well as to a few friends we wanted to bless. Kids REALLY love them -- you should see their eyes light up when they get a free gold dollar! ;-)

• Stocking stuffers! Our kids love them too!

• Chores bonus! One of my son's chores is to help me clear snow off our driveway and sidewalks. But he went above-and-beyond the call of duty in late December (where we got pounded with snow the second half of the month) and I gave him a few coins as an extra thank you. You would have thought he had won the lottery!

• I've decided to keep about $500 in coins in my home safe. After our discussion on keeping cash at home, I thought about keeping a bit extra around, but I want to be sure it's safe from potential fires and floods. My safe is fire-resistant, but with coins, I don't need to worry about fire or water as they'll make it through anything.

How about you? Anyone out there bought/used the coins lately? If so, do you have any creative ideas for using them?

Comments

[Craig]

There great for vending machines. That's all about I use them for.

[The Passive Dad]

I purchased $250 from the mint as well and plan on using them to get my kids excited about coin collecting and establishing a savings program when they open a new savings account. I hope to open a savings account at a local bank when my daughter turns 5 next month.

[coin network]

I just ordered $500. I am thinking about giving them away to promote my coin collecting social network.

[Strick]

I think large coins are cool, but have little use beyond that given how little value they have compared to their size and weight. If they circulated a $10 or $20 coin that I knew I could easily use anywhere, I'd order a box for home and would carry them for spending money as well.

[Anon]

I purchased $2500 worth. The USPS refused to take them as payment for a money order.

[thomas]

good suggestions on how to spend the coins.

[Christy Odom]

I keep them in my car for toll roads.

[thad]

Is it still free shipping?

[FMF]

Thad --

Yep. I just ordered another $500 worth a couple days ago.

[squeezed]

Ummmm, what happens when Amex decides that buying currency is either (s) a cash advance, or (b) not subject to rewards?

[FMF]

Squeezed --

Ummmm, you stop doing it? Until then, let the good times roll!

[NewHorizon]

It's not uncommon, of course, for someone to ask a cashier to make change.

So how about doing the reverse? Ask the cashier to, say, give you a 5 dollar bill or (or 10, or 20) in exchange for the corresponding number of coins. Later, deposit the cash to your bank account via ATM.

[r]

Coinstar machines? My local one lets me put in coins and get gift certificates to Amazon (or others) for free. Anyone know if these machines take the $1 coins?

[Tom K]

Dollar coins are great for tips!

[RichGuy]

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.

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.