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The US Mint is now offering free shipping on the new 2010 $1.00 Presidential Coins to promote the circulation of these new coins.

These Presidential Dollar coins are sold in rolls of 250 for their exact face value of $250.00 along with free standard shipping.

There are 7 different types of 2010 Direct Ship $1.00 Coins, namely 2010 Native American, 2010 Sacagawea, 2010 John Adams, 2010 Thomas Jefferson, 2010 James Madison, 2010 George Washington, and 2010 Andrew Jackson.  They allow you to purchase up to two $250.00 rolls of each type of coin.  This would allow you to purchase a maximum of up to $3,500 per order. 

Initially during “Step 1″ of the check out process it will show an Estimated Standard Shipping & Handling charge of $4.95, however on ”Step 4″ this shipping charge will be reduced to $0.00 as seen below.

Since these coins are being sold by the US Mint at face value without any additional shipping costs you can purchase these coins using a 0% APR Credit Card and convert them to cash for free.  You could also deposit these coins into your checking account and then use the money to pay off higher interest credit cards.

Some Credit Cards offer travel, cash, or other reward for purchases made using the credit card.  You can use your reward card to purchase these coins. When you receive the coins you can simply store them in a high yield savings account until your monthly credit card bill arrives and then pay off your bill to get the full rewards from this credit card purchase.

If you want to really rack up the rewards you can even pay off the bill immediately online or using a photocopy of your bill to pay off the balance before your monthly bill arrives.  This way you can repeat this purchase several times over the course of a single month.

How to Get Started

1) Go to the US Mint’s 2010 Coin Promotion Direct Shipment program page.  There are 7 different types of coins for purchase and you are allowed to purchase up to 2 boxes of each type of coins for $250.00 each box.  You can purchase up to $3,500 in coins if you buy the 2 box maximum for all 7 types of coins.  You can also make multiple orders if you want to purchase even more.   Be sure to select “Standard Shipping”, it will say that this shipping and handling will cost $4.95 on the first page, but you will notice that on step 4 of the checkout process that this shipping charge is reduced to $0.00 and you are only charged the actual face value of the coins.

2) You should receive your coins in the mail within 1-2 weeks.

3) Take these coins to the bank and cash them in for paper money or deposit them into your checking account.  Since these coins are in regular circulation, they are as good as cash.

4) You can use this money as a free cash advance, pay off higher interest credit cards, or collect the rewards off your rewards credit card.  These credit card rewards will not cost your anything if you pay your credit card off by the end of the month.  

Many rewards cards give you 1-3% cash back which is better than most high yield savings accounts these days.  Also, you are not taxed on money made from cash back rewards cards because this cash back is considered a rebate on purchases that you have already made!

You could also use this trick to rack up your airlines rewards on certain rewards credit cards. 

For example, with Citibank’s AA Advantage credit card it offers you 25,000 miles once you make $1000 in purchases. This is a total of 26,000 miles and is enough for a round trip US domestic flight to anywhere in the United States. 

You are effectively getting a round trip airline ticket for free, saving you hundreds of dollars and getting a free cash advance from your credit card at the same time!