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Precious metals dealer APMEX is offering a buy-and-sell coin flip deal next week where you could earn an easy $100 profit and pick up $700 in easy credit card spend if you’re quick and have a little luck. Let me be clear: Frequent Miler has absolutely no financial stake in this deal. It just looks like a great way to spend $700 and get $800 back, earning a hundred bucks in profit and credit card rewards on top. Yes, APMEX is reputable — more below.
The Deal
- The US Mint in conjunction with the Royal Canadian Mint is releasing a limited-edition coin set called the Pride of Two Nations on July 3rd with a limit of 5 ordered per household. Precious metals dealer APMEX is offering to pay $20 profit per set if you sign up now and you’re able to secure a set(s) on July 3rd (up to $100 profit since the cap is 5 sets).
- Direct link to sign up
Key Terms
- You must have a shipping address in the United States
- APMEX will pay $159.95 per set, with a limit of 5 sets per household (for a maximum possible total of $799.75 per household). This payment will be the same regardless of which U.S. Mint shipping method you choose (so just choose the cheapest / free shipping option).
- With APMEX Logistics, you receive discounted shipping rates to sell to us through our exclusive UPS partnership. However, through this special offer, we are completely covering your shipping costs when selling back to us. The only shipping you are responsible for is from the U.S. Mint to your door.
- Each package you receive from the U.S. Mint must remain unopened in order for you to receive your payment from APMEX.
- In order for your package to be fully insured during transit, you must follow all packing instructions and shipping instructions. This includes double-boxing your unopened U.S. Mint package.
- APMEX is not responsible for any carrier delays.
- If we fail to process your payment by the next business day, we will send you a $10 voucher to use on a future APMEX.com purchase.
How it works & Quick Thoughts
This deal is kind of like trying to buy a lottery ticket where you’re guaranteed to win if you get through the line and get your hands on a ticket. The deal will sell out fast, but if you’re lucky you’ll be able to get in while the gettin’s good.
Short story: The US Mint is going to put a limited-edition coin set on sale next week. Each set sells for $140. You can buy a max of 5 per household. APMEX is agreeing to buy each set for $160 ($20 profit per set, up to 5 sets) and they will cover shipping costs from you to APMEX.
Here’s how the deal works in a bit more detail:
- You sign up with APMEX now at the link under “The Deal” to say that you’re interested in selling if you are successful in buying any sets (you need to provide your name, email, and phone number now)
- You sign up for an account with the US Mint now and set up a payment method before this deal gets close to going live (as you’ll need to have your account all set to buy fast enough and the site will likely slow to a crawl when it goes on sale)
- On July 3rd, you try to have the fastest finger and buy 5 sets (APMEX will send you reminders on July 2nd and 3rd)
- If you’re successful, you sell to APMEX (they’ll provide instructions via email) and APMEX will provide you with a shipping label
- When the coins come, you follow instructions (e.g. they will want you to double box the coin box as it is a requirement of their insurance) and slap on the shipping label (as they will instruct you, do not open the box from the Mint) and send the coins to APMEX
- APMEX pays you when they receive the coins
Is APMEX reputable? Will they actually pay me?
Yes. I mean, I typically hate to vouch for a company with which I have no connection, but APMEX is probably the largest online precious metals dealer in the US. I’ve sold them 1oz Gold American Eagle coins more than once and always been paid quickly (within the last year or two, they began paying on those via ACH within 1 business day of receiving the coin). I’m not saying there is zero risk (I’ve been nervous about shipping a $1300+ 1oz gold coin and surely there are things that can go wrong). But if you’re asking, “Is APMEX a company that is going to scam me over $800?”, the answer is highly doubtful.
Why are they offering to pay $20 more than these cost?
Because they expect to sell these for a lot more. You probably could, too, if you want to hold onto them and assume the risk of them dropping in value. I don’t know nearly enough about coin collecting to look a gift horse in the mouth, so I’ll take the hundred bucks and buy myself something nice, but if you know more about coin collecting then by all means: you do you.
Bottom line
This looks like a pretty easy way to pick up $700 in spend and make a hundred bucks profit IF (and that’s a big “if”) you’re able to order the coins. I’ve done some similar coin deals in the past with a different buyer and gotten lucky most of the time, but I couldn’t get through an order on the last round for anything (a few months ago). It’s far from a lock, but it doesn’t cost you anything but time to give this a shot. If you’re working on minimum spend, this is some easy and profitable MS. I’ve never had a problem with a US Mint order not earning rewards or coding as a cash advance, so I think you should be safe with any card (though it’s always a good idea to set your cash advance limit as low as possible just in case).
H/T: Doctor of Credit
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For those that signed up and are waiting for the email, I called APMEX and they claimed they are going to send the confirmation emails in a couple of hours, so by approximately 4pm Eastern Time. Guess we will see whether that happens; I would certainly hope to at least see that level of them having it together on this deal before buying.
Looks like the sign-up is closed. I think I got in on it, but never got any sort of verification email or anything. Did anybody else get a confirmation email that they were registered or do they not do that?
Same here in that I signed up but haven’t gotten any confirmation email yet as of Monday noon 7/1
Thanks for the dp. Nick or anybody else that has done one of these APMEX promos before care to weigh in?
Read through the replies on the DOC post and several ppl mentioned the same, signed up but no email. So guessing that is just how they do it
Of course there is this: “All provided email addresses may be collected by APMEX for promotional use.” I hope Sign in with Apple gains traction quickly. It would be perfect for situations like this.
I just keep a spam email address that I use for everything like this. I don’t give an actual daily use email to anyone other than people with whom I want to communicate.
I do too, but they fill up with crap so quickly. It would be much easier to have a new random email address for each one that you could just turn off.
Thanks for the idea Nick, I’m always looking for “easy” reselling.
Nick: Do you know what time on July 3rd the US Mint coin sale goes “live?”
Answering my own question – Just went to US Mint website and searched for “Pride of Two Nations.” Sale of the coins starts at 12 noon Eastern Time.
Would this be considered a cash equivalent for AmEx welcome offer or upgrade offer spend? I’m guessing yes, but do you have any experience that would indicate that it isn’t?
I highly doubt it would be considered a cash equivalent. It’s a collector’s item. I’ve bought from the mint before on Amex cards, but I can’t recall for sure if I was working on a welcome offer at any of those times. I definitely can’t say for sure, but my guess is that it would be fine.
How did you deal with the Capital gains since it’s a PM, even though it’s a collector coins or bullion?.