| Author | Message | ||
| Noel (Noel)
New member Username: Noel Post Number: 2776 Registered: 7-2009 |
A manufacturer makes a product that no one wants. Some customers started buying the product. After some time, the manufacturer decided to prevent those customers from buying any more of the product, even though the customers were not doing anything illegal and the manufacturer still has way more of the product that it needs or knows what to do with. Why? | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 973 Registered: 1-2011 |
Did the manufacturer gain any profit if noone bought the Product? Did the manufacturer make only the Product? Did the manufacturer make many Products? 1-10? 10-100? 100-1000? >1000? Is Product harmful? Is time relevant? Is location? True story? | ||
| Lynne (Lynne)
New member Username: Lynne Post Number: 5103 Registered: 12-2000 |
Is it one of those products that people need but don't want to have to use it? e.g a fire escape ladder, even a first aid kit | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4070 Registered: 9-2009 |
Did the customers use the product? Did they sell it? Modify it? Make a profit from it? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2778 Registered: 7-2009 |
Did the manufacturer gain any profit if noone bought the Product? no Did the manufacturer make only the Product? no Did the manufacturer make many Products? 1-10? 10-100? this one 100-1000? >1000? Is Product harmful? no Is time relevant? yes Is location? yes True story? yes Is it one of those products that people need but don't want to have to use it? e.g a fire escape ladder, even a first aid kit no Did the customers use the product? some did, most didn't Did they sell it? noish Modify it? no Make a profit from it? yes | ||
| Lynne (Lynne)
New member Username: Lynne Post Number: 5105 Registered: 12-2000 |
Were they selling them on ebay? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2779 Registered: 7-2009 |
Were they selling them on ebay? no | ||
| Lynne (Lynne)
New member Username: Lynne Post Number: 5106 Registered: 12-2000 |
You had a noish for seling - did they rent the product out? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2780 Registered: 7-2009 |
You had a noish for seling - did they rent the product out? no. I think a better answer to the selling question than noish might be "DOYD of selling." | ||
| Lynne (Lynne)
New member Username: Lynne Post Number: 5108 Registered: 12-2000 |
Were the customers exploiting others? | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 976 Registered: 1-2011 |
Could the manufacturer make the profit from product the same way that customers did? Did the manufacturer prevent customers from buying the product for their benefit? for his benefit? to prevent something bad happening? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2781 Registered: 7-2009 |
Were the customers exploiting others? yes Could the manufacturer make the profit from product the same way that customers did? no Did the manufacturer prevent customers from buying the product for their benefit? no for his benefit? This is not the primary reason, but the manufacturer did benefit somewhat from preventing the purchases, too. Also, FA. to prevent something bad happening? yes | ||
| Noel (Noel)
New member Username: Noel Post Number: 2782 Registered: 7-2009 |
Actually, let's simplify that. I realized that I've based my answer to the previous question on an assumption that may or may not be true. I actually have no idea which reason was the primary purpose for the ban. So change the above answers to: Did the manufacturer prevent customers from buying the product for their benefit? no for his benefit? Yes. Also, FA. to prevent something bad happening? yes | ||
| Shez (Shez)
New member Username: Shez Post Number: 1533 Registered: 2-2011 |
was the product some sort of fake? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2783 Registered: 7-2009 |
was the product some sort of fake? no | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 978 Registered: 1-2011 |
Did it happen in [LPTF list of centuries]? Did it happen in [LPTF list of continents]? Is specific location (like seaside, mountainside, urban, rural etc.) relevant? | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4071 Registered: 9-2009 |
Did the customers modify the product? Disassemble it? Is the product a: device? Substance? Food? Drink? Liquid? Relevant how it's packaged? Is it packaged? Will the bad thing affect the company negatively? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2784 Registered: 7-2009 |
Did it happen in [LPTF list of centuries]? 21st Did it happen in [LPTF list of continents]? North America - United States Is specific location (like seaside, mountainside, urban, rural etc.) relevant? no Did the customers modify the product? no Disassemble it? no Is the product a: device? Substance? Food? Drink? Liquid? none of these Relevant how it's packaged? no Is it packaged? yes Will the bad thing affect the company negatively? no | ||
| Shez (Shez)
New member Username: Shez Post Number: 1538 Registered: 2-2011 |
did the manufacturer make this product on purpose? is it faulty in some way? | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 979 Registered: 1-2011 |
The bad thing to happen would result from: posessing the product? using the product? gaining benefit from the product? selling (DOYD) product? Is the product physical? Is it a service? Is it an e-product? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2785 Registered: 7-2009 |
did the manufacturer make this product on purpose? yes is it faulty in some way? no The bad thing to happen would result from: posessing the product? no using the product? no gaining benefit from the product? yes selling (DOYD) product? no Is the product physical? yes Is it a service? no Is it an e-product? do you mean a product used online or on a computer? no. | ||
| Balin (Balin)
New member Username: Balin Post Number: 14245 Registered: 4-2010 |
Are the manufacturers breaking the law? Is a contest relevant? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2789 Registered: 7-2009 |
Are the manufacturers breaking the law? no Is a contest relevant? no | ||
| Shez (Shez)
New member Username: Shez Post Number: 1547 Registered: 2-2011 |
is it the worthless bonds produced by goldman sachs? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2791 Registered: 7-2009 |
is it the worthless bonds produced by goldman sachs? no, but this guess is at least near the right forest | ||
| Noel (Noel)
New member Username: Noel Post Number: 2799 Registered: 7-2009 |
Clarification (in case I intimidated anyone with my last answer, which seems likely given the absence of questions since Saturday!): You do not need to know anything about worthless bonds, or any bonds. You do not need to know anything about Goldman Sachs. There is simply one way in which this guess is closer than all other guesses so far. But the puzzle requires NO specialized knowledge of any kind to answer. There are other ways to get to the answer than to follow my feeble attempt at a mini-hint, so if the previous post doesn't help you at all or intimidates you, please ignore it and pretend I didn't say anything. | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4120 Registered: 9-2009 |
Is it play money? Something that appears valuable but isn't? Are the customers breaking the law? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1566 Registered: 2-2011 |
is the item not so much a physical product, or at least a thing which represents something else? like insurance? debts? | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 987 Registered: 1-2011 |
Is the item the planned, main product of the manufacturer? Or is it something produced from waste/leftovers after main production? Did the customers who bought the product, store it at their houses? If yes, did they store it in living rooms? kitchens? bathrooms? garages? gardens? balconies? cellars? offices? Did the customers who bought the product, have any relevant feature in common? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2803 Registered: 7-2009 |
Is it play money? no, but... Something that appears valuable but isn't? no Are the customers breaking the law? no is the item not so much a physical product, or at least a thing which represents something else? it is a physical product like insurance? no debts? no Is the item the planned, main product of the manufacturer? yes Or is it something produced from waste/leftovers after main production? no Did the customers who bought the product, store it at their houses? some did, most did not If yes, did they store it in living rooms? kitchens? bathrooms? not likely garages? gardens? not likely balconies? not likely cellars? offices? could be any of the others, but I'd guess that offices or bedrooms are probably the most likely choices Did the customers who bought the product, have any relevant feature in common? yes | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4134 Registered: 9-2009 |
Relevant which material(s) the product is made from? If so: metal? Plastic? Wood? Leather? Rubber? glass? Ceramics? Food? Liquid? Gas? String? Fabric? Paper? Any relevant writing? Numbers? Is it electrical? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2805 Registered: 7-2009 |
Relevant which material(s) the product is made from? If so: metal? this one. No others. Plastic? Wood? Leather? Rubber? glass? Ceramics? Food? Liquid? Gas? String? Fabric? Paper? Any relevant writing? yes, there are a few words on the product Numbers? yes Is it electrical? no | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4135 Registered: 9-2009 |
Coins? Tokens? | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 998 Registered: 1-2011 |
Is the product an advertising item of the manufacturer? About the customers who bought the product, did they share: location? age? nationality? religion? political views? hobbies? family status? profession? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1586 Registered: 2-2011 |
is it counterfeit money? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2809 Registered: 7-2009 |
Coins? YES Tokens? no Is the product an advertising item of the manufacturer? no About the customers who bought the product, did they share: location? age? nationality? religion? political views? hobbies? family status? profession? none of the above, but I suppose hobbies is closest. is it counterfeit money? no. Remember, neither the manufacturer nor the customers were doing anything illegal. | ||
| Shez (Shez)
New member Username: Shez Post Number: 1595 Registered: 2-2011 |
was there a flaw in the coins which made them valuable for collectors? | ||
| Redwine (Redwine)
New member Username: Redwine Post Number: 1001 Registered: 1-2011 |
Could one pay with those coins? Were they coins for collectioning? Did they stop selling coins to make them rare and thus increase their value? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1596 Registered: 2-2011 |
was there a flaw in the coins which made them valuable for collectors? | ||
| Vesica (Vesica)
New member Username: Vesica Post Number: 1811 Registered: 8-2001 |
You say "no one wants" this product, yet there are buyers...Exploring further here. Is the product one that comes as part of a larger product people do want? Such as pretend money in a game? Is the product designed to serve a purpose during shipping? During the packing process in the plant? During the time the product is at the store? (Is the product sold at a brick-and-mortar stores?) Is the product on that has a negative connotation? Such as the physical slips used to write parking tickets...which no one wants to get? Is the product one that no would wish to use, but once a circumstance occured, one would need it? Like a product to treat cancer? Is the product unusable? (I do see that the product is coins...I was just trying to get at why no one wants it.) | ||
| Noel (Noel)
New member Username: Noel Post Number: 2812 Registered: 7-2009 |
was there a flaw in the coins which made them valuable for collectors? no Could one pay with those coins? yes Were they coins for collectioning? they were originally intended to attract collectors, yes Did they stop selling coins to make them rare and thus increase their value? no You say "no one wants" this product, by the way, "no one" is admittedly a bit of an exaggeration, but not by much yet there are buyers...Exploring further here. Is the product one that comes as part of a larger product people do want? no Such as pretend money in a game? no Is the product designed to serve a purpose during shipping? no During the packing process in the plant? no During the time the product is at the store? no (Is the product sold at a brick-and-mortar stores?) no! Is the product on that has a negative connotation? no Such as the physical slips used to write parking tickets...which no one wants to get? no Is the product one that no would wish to use, but once a circumstance occured, one would need it? no Like a product to treat cancer? no Is the product unusable? no, the coins are legal tender (I do see that the product is coins...I was just trying to get at why no one wants it.) | ||
| Balin (Balin)
New member Username: Balin Post Number: 14371 Registered: 4-2010 |
Are they US coins? State quarters? "Landmark" quarters? Presidential dollars? | ||
| Solitiare (Solitiare)
New member Username: Solitiare Post Number: 140 Registered: 7-2011 |
Ia there any way I can e-mail you? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2813 Registered: 7-2009 |
Are they US coins? State quarters? "Landmark" quarters? Presidential dollars? this one Is there any way I can e-mail you? I emailed you, you can reply to me | ||
| Noel (Noel)
New member Username: Noel Post Number: 2814 Registered: 7-2009 |
Since you've figured out one milestone, I think it's time for an updated puzzle statement. The US government has discovered, to its dismay, that Americans are just not interested in the presidential dollar coins that are currently being minted in enormous quantities. Some people did start buying the dollar coins, but after some time, the US government decided to prevent those customers from buying any more of the product. No one was doing anything illegal with the coins, and the government still has way more of the coins than it needs or knows what to do with. So why has the US government prevented these people from buying presidential dollar coins? (fyi, everything said above also applies to Sacajawea coins) | ||
| Balin (Balin)
New member Username: Balin Post Number: 14385 Registered: 4-2010 |
Because they're rarely used? Are they still worth a dollar? Less? More? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2816 Registered: 7-2009 |
Because they're rarely used? that's true, but it's not why the government stopped letting these people buy them. Are they still worth a dollar? yes Less? More? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1615 Registered: 2-2011 |
did the government only stop certain people buying them? were these people US citizens? dealers? foreign governments? were they stockpiling the coins? | ||
| Vesica (Vesica)
New member Username: Vesica Post Number: 1819 Registered: 8-2001 |
Are the coins being purchased by folks outside the US? I know that some ridiculous percetage of US money is never even used in the US... Are people hoarding the coins? Are people melting down the coins? Is the metal composition of the coins relevant? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2817 Registered: 7-2009 |
did the government only stop certain people buying them? no, not technically were these people US citizens? US residents; it is irrelevant whether they were citizens or not dealers? foreign governments? were they stockpiling the coins? no Are the coins being purchased by folks outside the US? not for the purposes of the situation in this puzzle I know that some ridiculous percetage of US money is never even used in the US... True. An interesting aside is that it turns out that US dollar coins are extremely popular in certain Central American, South American, and Caribbean countries where many/most daily transactions are carried out in cash, using US currency. They owe their popularity there to their durability, since people and businesses in those countries can't just walk into a bank and easily exchange a worn out dollar bill for a new one like we can here. But all of this is completely irrelevant. For this puzzle, we're talking about certain US residents buying the coins. Are people hoarding the coins? no Are people melting down the coins? no Is the metal composition of the coins relevant? no | ||
| Shez (Shez)
New member Username: Shez Post Number: 1620 Registered: 2-2011 |
do all these people have something in common? their profession? a hobby? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2818 Registered: 7-2009 |
do all these people have something in common? yes their profession? no a hobby? yesish/yope | ||
| Shez (Shez)
New member Username: Shez Post Number: 1623 Registered: 2-2011 |
are they all coin collectors? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2819 Registered: 7-2009 |
are they all coin collectors? no And let me add that I would not call it a hobby, but I think that at least some of them do. I wasn't really sure how to answer the hobby question, and now I'm doubting whether my original answer was the right one. | ||
| Sundowner (Sundowner)
New member Username: Sundowner Post Number: 873 Registered: 6-2003 |
Did the people who bought these dollars use them in any "off-label" way? as replacement or makeshift replacement for some other item? for an item that is usually more expensive than one dollar? Does the hobby involve sports? playing? gambling? arts? collecting? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2825 Registered: 7-2009 |
Did the people who bought these dollars use them in any "off-label" way? no as replacement or makeshift replacement for some other item? no for an item that is usually more expensive than one dollar? no Does the hobby involve sports? playing? gambling? arts? collecting? this one | ||
| Balin (Balin)
New member Username: Balin Post Number: 14445 Registered: 4-2010 |
Do they collect presidential memorabilia? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2827 Registered: 7-2009 |
Do they collect presidential memorabilia? no | ||
| Shez (Shez)
New member Username: Shez Post Number: 1659 Registered: 2-2011 |
do they collect things with flaws in them? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2829 Registered: 7-2009 |
do they collect things with flaws in them? no | ||
| Ostap (Ostap)
New member Username: Ostap Post Number: 102 Registered: 6-2005 |
Do they collect these coins? or do they in fact collect something else and use the coins for something that is related to collecting the other items? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2832 Registered: 7-2009 |
Do they collect these coins? no or do they in fact collect something else yes and use the coins for something no! that is related to collecting the other items? yes I had to break down the previous question because I couldn't figure out how to answer it in its entirety. | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4230 Registered: 9-2009 |
Do they keep the coins? Give them to someone else? Put them somewhere? Relevant how many coins each they buy? When they buy the coins, do they get the thing they're collecting too? would this happen if the coins were not legal tender? Or if they were not collectible? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2836 Registered: 7-2009 |
Do they keep the coins? no Give them to someone else? noish Put them somewhere? no Relevant how many coins each they buy? yesish When they buy the coins, do they get the thing they're collecting too? yes would this happen if the coins were not legal tender? yes (if by "this" you mean that they would still get the thing they're collecting) Or if they were not collectible? yes | ||
| Shez (Shez)
New member Username: Shez Post Number: 1687 Registered: 2-2011 |
are they more interested in the box or display case the coins come in? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2839 Registered: 7-2009 |
are they more interested in the box or display case the coins come in? no | ||
| Noel (Noel)
New member Username: Noel Post Number: 2846 Registered: 7-2009 |
HINT: you're all being TOO SPECIFIC trying to guess what is being collected. Back up and ask more general questions about what's being collected first. You'll need to get specific again eventually, but being that specific now is making it harder on yourselves than it needs to be. | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4306 Registered: 9-2009 |
Is the thing collected made from: metal? Plastic? Wood? Leather? Rubber? glass? Ceramics? Food? Liquid? Gas? String? Fabric? Paper? Stone? Glue? Is it a substance? Does it have a relevant smell? Or taste? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2849 Registered: 7-2009 |
Is the thing collected made from: metal? Plastic? Wood? Leather? Rubber? glass? Ceramics? Food? Liquid? Gas? String? Fabric? Paper? Stone? Glue? Is it a substance? Does it have a relevant smell? Or taste? No to all!! | ||
| Shez (Shez)
New member Username: Shez Post Number: 1745 Registered: 2-2011 |
is the thing collected not a tangible object? is it a serial number? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2850 Registered: 7-2009 |
is the thing collected not a tangible object? yes is it a serial number? no | ||
| Sundowner (Sundowner)
New member Username: Sundowner Post Number: 915 Registered: 6-2003 |
Do these people order the coins at the US Mint? (by mail? by internet? by phone?) Do they get the coins shipped to their home? Relevant how they pay? Do they get the things they are collecting at the moment when they order the coins? when they receive the coins? when they pay for them? Does a typical collector of these items own up to 10? up to 100? up to 1000? up to 10000? more? several millions? of them? Would it alternatively be possible to buy these items? to obtain them in some other way? but through the US presidential dollars is the least expensive way? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2851 Registered: 7-2009 |
Do these people order the coins at the US Mint? yes(by mail? by internet? definitely this one. I'm not sure about the other two. by phone?) Do they get the coins shipped to their home? irrelevant Relevant how they pay? yes Do they get the things they are collecting at the moment when they order the coins? when they receive the coins? when they pay for them? this one Does a typical collector of these items own up to 10? up to 100? up to 1000? up to 10000? more? several millions? of them? hard to answer. Typical people might have somewhere in the 100s to the 10000s. The people relevant to this puzzle could easily have in the 100,000s or even millions Would it alternatively be possible to buy these items? no to obtain them in some other way? yes but through the US presidential dollars is the least expensive way? yes | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4320 Registered: 9-2009 |
Do they pay with: cash? Credit card? Check? Bank transfer? US presidential dollars? Relevant that they buy the coils form the treasury? Or could they buy them from somewhere else? Relevant how they get the coins? Do they pay: when ordering? Before reception? On reception+ Afterwards? Relevant? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2853 Registered: 7-2009 |
Do they pay with: cash? Credit card? this one Check? Bank transfer? US presidential dollars? Relevant that they buy the coils form the treasury? see next Or could they buy them from somewhere else? I think the treasury is the only place they could have paid with a credit card. Relevant how they get the coins? you mean, how they're delivered? No. Do they pay: when ordering? they use their credit card when ordering Before reception? On reception+ Afterwards? and actually pay for it afterwards, when their credit card is due, I suppose Relevant? no | ||
| Shez (Shez)
New member Username: Shez Post Number: 1761 Registered: 2-2011 |
I don't even know what a US presidential coin is, but are they worth their face value? more? less? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1762 Registered: 2-2011 |
are these people holding onto the coins until they've all been issued - maybe the complete set will be worth more? is the thing the people gain knowledge? education? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1768 Registered: 2-2011 |
is there one particular president that no-one wants to buy? like Nixon? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2855 Registered: 7-2009 |
I don't even know what a US presidential coin is, but are they worth their face value? They're just one dollar coins with pictures of US presidents on them. A one dollar presidential coin is worth one dollar. more? less? are these people holding onto the coins until they've all been issued - maybe the complete set will be worth more? no is the thing the people gain knowledge? no education? no is there one particular president that no-one wants to buy? no like Nixon? actually I don't think the Mint has gotten to making Nixon coins yet (they're making coins for each president in order), but it's irrelevant. This puzzle applies equally to all presidential coins and also Sacagawea coins | ||
| Shez (Shez)
New member Username: Shez Post Number: 1775 Registered: 2-2011 |
I have a solid silver 100 peso piece which is worth more than 100 pesos do these coins actually get used as currency? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2857 Registered: 7-2009 |
do these coins actually get used as currency? yes | ||
| Shez (Shez)
New member Username: Shez Post Number: 1811 Registered: 2-2011 |
but the ones we're talking about are the ones ordered from the Treasury? is it relevant that they paid by credit card? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2859 Registered: 7-2009 |
but the ones we're talking about are the ones ordered from the Treasury? yes is it relevant that they paid by credit card? yes | ||
| Shez (Shez)
New member Username: Shez Post Number: 1814 Registered: 2-2011 |
do they have to pay a premium for using a credit card? do they benefit from the delay in purchasing the coins and paying off their credit card? credit card receipts relevant? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2860 Registered: 7-2009 |
do they have to pay a premium for using a credit card? no do they benefit from the delay in purchasing the coins and paying off their credit card? no credit card receipts relevant? you mean like the credit card bill? No. If you mean something else, what do you mean? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1820 Registered: 2-2011 |
*sigh* I don't know what I mean any more! | ||
| Noel (Noel)
New member Username: Noel Post Number: 2861 Registered: 7-2009 |
*sigh* I don't know what I mean any more! haha, that's ok. We'll just pretend that question doesn't exist, since neither of us knows what you meant by it. =) | ||
| Galfisk (Galfisk)
New member Username: Galfisk Post Number: 4359 Registered: 9-2009 |
To recap: people buy coins fomr the US treasury. When they pay for the coins by credit card, they get something relevant, which is intangible. Correct? Do we need to figure out what this thing is exactly? Or what they do with it afterwards? Did the mint decide not to sell more coins to them because of this intangible thing? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2864 Registered: 7-2009 |
To recap: people buy coins from the US treasury. When they pay for the coins by credit card, they get something relevant, which is intangible. Correct? yes Do we need to figure out what this thing is exactly? yes Or what they do with it afterwards? no, but when you figure out what it is, it's pretty obvious what they do with it Did the mint decide not to sell more coins to them because of this intangible thing? yes | ||
| Shez (Shez)
New member Username: Shez Post Number: 1842 Registered: 2-2011 |
do they get some sort of discount? like a tax discount? does part of the payment go towards another organisation? is it because when people use their credit cards they get air miles? loyalty points? a donation goes to a charity? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2865 Registered: 7-2009 |
do they get some sort of discount? like a tax discount? does part of the payment go towards another organisation? is it because when people use their credit cards they get air miles? YES!!! This! no to rest. loyalty points? a donation goes to a charity? | ||
| Shez (Shez)
New member Username: Shez Post Number: 1846 Registered: 2-2011 |
so people were buying the coins at face value but accruing lots of air miles? why did they want to stop them? presumably the credit card companies finance the air miles? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2867 Registered: 7-2009 |
so people were buying the coins at face value but accruing lots of air miles? yes why did they want to stop them? hmm - see below presumably the credit card companies finance the air miles? yes - see below If you can figure the "why" part out in full, great, but it's not essential for solving the puzzle. Tell me what makes this situation unique among ways to earn credit card miles, and I'll consider it solved. | ||
| Enjay (Enjay)
New member Username: Enjay Post Number: 1366 Registered: 4-2007 |
The fact that they are not losing anything, because they are gaining back all the money they spend in the form of coins? So they could get an unlimited supply of free airmiles? | ||
| Noel (Noel)
New member Username: Noel Post Number: 2870 Registered: 7-2009 |
The fact that they are not losing anything, because they are gaining back all the money they spend in the form of coins? yes So they could get an unlimited supply of free airmiles? yes ***SPOILER*** The 50 States quarter program in the US was a resounding success. People got excited each time new quarters were released, and a significant portion of the population decided to start a quarter collection. Coin collecting (of real, currently circulating coins) is a good money maker for the government because at least for the higher value coins (but not the penny, for example), the face value of the coin is less than the cost of manufacturing it. Congress attempted to capitalize on the success of the 50 States Quarter program, passing a law in 2005 requiring the creation of $1 coins of all the US presidents, in order. So now the US Mint makes tons and tons of Presidential $1 coins each year, as required by law. In addition, they also make tons of Sacagawea coins, because of a strange stipulation in the law that requires a certain proportion of $1 coins manufactured to be Sacagawea dollars. Congress thought the law was a great deal. After all, it only takes 30 cents or so to make the coins, but people have to pay $1 to obtain them. Unfortunately, they failed to take into consideration the fact that Americans just don't like carrying around $1 coins. There are now somewhere approaching a billion $1 coins that nobody wants sitting around in secured warehouses. The coins can be obtained from the Treasury Department via the internet. There are groups (on message boards, etc.) within the US Population that are composed of people who spend a lot of time and energy trying to scam their way into as many credit card miles as possible, and then using them to take free vacations. These groups realized that they could collect enormous quantities of free airline miles by ordering boxes of $1 coins, which they immediately deposited at the bank upon receipt. The banks have no use for the coins, since they won't give them to their customers unless the customers specifically request $1 coins. So when the banks get the coins, they return them to the Treasury, which returns them to one of the storage warehouses. Not only does this cost the credit card companies a fortune in free unearned trips, which isn't fair and also isn't all that good for the economy at a time when many financial institutions are still struggling, it's also a very bad deal for the government. See, the Treasury had made the decision to cover shipping costs. So every time one of these people ordered heavy boxes full of $1 coins to get free airline miles, taxpayers were bearing the burden of shipping those heavy boxes across the country twice -- once to the credit card mile collector, and then again from the bank to the Treasury! They were finally able to put an end to this problem by getting approval to eliminate credit cards as an option for purchasing $1 coins (In typical bureaucratic fashion, it took a very long time for that approval to come). So now, the government still has warehouses full of $1 coins that no one wants, and is still required by law to keep manufacturing them, but at least taxpayers and credit card companies are no longer financing free vacations! One interesting aside: Back in the Susan B Anthony dollar days, the government urged people to switch to dollar coins because the durability of coins made them less expensive than dollar bills for the government in the long run. People still quote this as fact; however, it is no longer true. Modern dollar bills are so much more durable than they used to be that they're now the more cost effective option. Out of curiosity, has anyone actually seen one of the Presidential $1 coins in person? I've seen lots of the Sacagawea ones, but never a Presidential one. | ||
| Noel (Noel)
New member Username: Noel Post Number: 2871 Registered: 7-2009 |
oops, the first paragraph should have said that the face value is MORE than the cost of manufacturing | ||
| Balin (Balin)
New member Username: Balin Post Number: 14786 Registered: 4-2010 |
Nice puzzle! To answer your question, yes; the first time was when a guy put one in a vending machine thinking it was a quarter. It came out in the coin return slot; as the next customer, I found it and gave it back when the guy returned. (It was a Washington, BTW) | ||
| Kayleetonkslupin (Kayleetonkslupin)
New member Username: Kayleetonkslupin Post Number: 4346 Registered: 9-2010 |
I haz wun my mom givz me...truman? iz nawt enuf for cheezburgur, so I keepz it...but nawt knoez where it went rite nao... | ||
| Balin (Balin)
New member Username: Balin Post Number: 14789 Registered: 4-2010 |
They haven't released Truman yet; they're only up to Hayes. | ||
| Kayleetonkslupin (Kayleetonkslupin)
New member Username: Kayleetonkslupin Post Number: 4349 Registered: 9-2010 |
oh...huh, can't remember then. I iz thinkz beginz with t tho...could be wrong. I haz not seen in a while...dunno where it iz went. | ||
| Noel (Noel)
New member Username: Noel Post Number: 2874 Registered: 7-2009 |
My vending machine at school returns $1 coins as change if you pay with a $5 bill, but the only time I've ever done that, my change was all Sacagawea dollars. I don't know if they ever put Presidential dollar coins in there instead. | ||
| Kayleetonkslupin (Kayleetonkslupin)
New member Username: Kayleetonkslupin Post Number: 4357 Registered: 9-2010 |
kaylee kitteh can haz bad memory...but located dollar. Iz Millard Fillmore. iz no t anywere in dat...*face-pawz* | ||
| Kalira (Kalira)
New member Username: Kalira Post Number: 742 Registered: 2-2009 |
I have a Millard Fillmore and a James K. Polk in my wallet... used to have a few more, but I used them at a yard sale 'cause I didn't have any other small "bills." Back when I worked on an Army base, our change machine returned them, and there were signs on the vending machines that said something along the lines of "Yes, we take presidential dollar coins." Apparently they had to clarify... |
