How to get Free Frequent Flyer Miles from the U.S. Mint

In October 2009, my computer was on the fritz and I didn’t want to pay for a replacement.

After brainstorming ideas for a day or so, I landed on a strategy that wouldn’t just help me fund the computer I’m typing this on today, but would go on to become my favorite strategy for racking up frequent flyer miles for all the trips I have planned.

In fact, I used this simple idea and a few other neat tricks to help me accumulate nearly 350,000 miles in a period of only six months or so.

I first wrote about this last year when I told the story of the day I bought $15,000. That essay went on to become the most popular article on Riskology.co.

The premise is simple—buy coins from the U.S. Mint and deposit them in your bank account, pocketing any credit card rewards from the transaction—but the application proved a little challenging for some. Lots of people either didn’t understand how the process worked or didn’t believe such a simple strategy was actually available.

That’s why I created this 5-minute video update to clarify things for anyone who didn’t quite get it or just didn’t believe it was true. Watch the video and you’ll see the exact steps I take to keep the frequent flyer miles flowing for about 15 minutes worth of work.

Unfortunately, this will only work for U.S. citizens, but there are numerous other things you can do no matter where you are in the world, and the Travel Hacking Cartel is a great place to learn about them.

If you want in on this, here are the exact steps you can take to easily bolster any frequent flyer mile account by buying coins from the U.S. Mint.

Step 1: Go the $1 Direct Ship page on the U.S. Mint Website.

Step 2: Pick a coin that’s currently available, and purchase four boxes using your favorite airline credit card. I like to use my Starwood Preferred Guest Card. (The Mint now restricts orders to a maximum of $1,000 every ten days). Be sure to select “standard shipping.” That’s the only free shipping option.

Step 3: Sit back and wait for the coins to arrive. It usually takes around 2 weeks.

Step 4: Unpack the coins down to the individual rolls. Do not unroll the coins unless your bank specifically requests that coin deposits must be loose. It would behoove you to call ahead and ask.

Step 5: Go to the bank and deposit your coins. For extra points, dress up like a pirate or a leprechaun. Sometimes, the teller will get curious about why you have so many coins. Feel free to tell the truth, but this usually invites a long line of additional curiosity. I’ve found the easiest way to get around this is to say I’m a coin collector that’s getting tired of the hobby.

Step 6: Pay off your credit card as soon as the deposit clears the bank and wait for your miles to post.

It really is that simple—no black magic or scams involved. This program is scheduled to run until the end of 2012, so there’s plenty of time left to get on board if you haven’t yet.

The way to get the most out of this strategy is to buy coins on a new credit card that requires a certain level of spending before a bonus is applied. For example, I received 150,000 AA miles by signing up for two new credit cards and meeting each card’s $3,000 spending requirement with coins from the Mint. I’m doing the same right now to meet the spending requirements for a 100,000 point offer from British Airways. This way, I don’t have to buy anything I normally wouldn’t just to get miles.

To keep up on the latest news about the direct ship program, you can monitor this enormous thread about it on the Flyer Talk Forum.

Side Note: Some people are concerned about the note on The Mint’s website which says that immediately depositing coins in your bank doesn’t meet the intended purpose of the program.

That’s a fair concern, and I like to keep a roll from each shipment to use for bus fare and other small purchases. It’s not a perfect solution, but it works for me.

Where will you go with all your new miles? Let me know in the comments.

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