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The US Mint is releasing two more limited-edition coins on Tuesday, 8/10 at 12pm Eastern time. Once again, buyer’s clubs are offering a set premium for purchasing the coins with an agreement to resell them when the coins ship in October. As always, you’ll need to consider whether a buyer’s club is right for you (see: Is a buyer’s club a good idea for you?) and you should shop around and determine the best way to sell it, but we’ll include information here about options we know can be locked in today (risk factor to be determined by you – YMMV).
- On Tuesday, 8/10/21, the US Mint will release the following new coins for pre-orders (coins are expected to be shipped in October 2021 and that is when your card will be charged):
- Morgan 2021 Silver Dollar PHILADELPHIA (P) for $85 (limit of 3 per household)
- Peace 2021 Silver Dollar PHILADELPHIA (P) for $85 (limit of 3 per household)
- As is often the case, buyer’s clubs are offering offering a commission for buying these coins and committing to sell to them. This provides an opportunity to lock in points and profit.
Buyer’s club offers
- PFS is once again offering a commission of $145.05 over the cost of for 6 coins. Note that you must order 3 of each coin for the PFS deal). This time they are also offering a one-time $100 bonus for each customer who completes all 3 Morgan coin deals (so this bonus will only apply to those who got in on those previous deals with PFS and will apply after completing all three — in other words, after you have shipped them the coins to complete those deals). Here is our referral link to PFS for more information.
- Our experience with PFS: I have used PFS many times dating back several years. My deals have always been honored and payments have been on time even in situations where market prices dropped. No surprises.
- DCB is once again offering $105 over the Mint price for each 3-coin set (which means $210 profit for 6 coin). For more information and to reserve your spot with DCB, email firstname.lastname@example.org.
- Our experience with DCB: I have opted in with DCB but have not yet completed a full order with them. So far everything is meeting my expectations, but the most important part for most readers is payment and I haven’t gotten to that point yet. Rapid Travel Chai has written quite a bit about DCB deals and shares some of his direct experience on his blog.
I am sure that there must be other buyers clubs buying these coins as well, but above are the options that I know. Note of course that you can alternatively try selling these to your local coin dealer or on eBay, etc (I have had success with eBay at times and many readers have been successful with local dealers though my local dealers are never interested). Sometimes demand runs high and values go up considerably, other times not so much. There is certainly more potential reward in doing it on your own. On the other hand, if you don’t want to invest the time, effort, and risk of a market drop then there is something to be said for locking in a set profit now with very little work involved (you’ll essentially just need to receive the package, slap on a new label, and send it back out).
Speaking of the process, see PFS or inquire with DCB if you are unfamiliar with the process on buying and selling Mint coins. The basic gist of it is that demand is very high so you need to be at the computer ready to go at noon. You can’t show up an hour later and expect to get anything. Similarly, you have to be ready to try and try and try again as the Mint website crashes repeatedly during checkout (it has been better the past couple of times, but I had a long headache with it last week before getting my orders in). PFS provides written instructions for increasing your odds. Also be sure to clearly understand what you need to do when you receive the coins (i.e. most buyers require that you not open the package and ship the coin out to the buyer within a set number of days). Read instructions carefully as a seemingly small mistake could cost you.
Finally, be aware of the risks of buying clubs. As recommended at the top, see the post Is a buyers club a good idea for you? In this case, the risk is relatively low given that these coins are less expensive than some deals, but there is still the risk of losing $500+ if your buyer fails to pay out. Do your research: talk to friends who have experience with it and evaluate the right risk/reward balance for you.
When choosing which card to use keep in mind that these coins are not expected to ship until October. Make sure you use a card that you will still have down the road. PayPal Key could be a good choice since you can change the backing card later and in the one preorder I’ve done with the Mint, they reminded me a few days before charging the card (and gave the chance to change the payment card, though using PayPal Key means you don’t need to count on that).
Note that you do not want to use a US Bank / Elan Financial services card to pay as you will not earn rewards with those cards. Despite updates to the terms on both Amex and Chase cards that could be interpreted as threatening cash advance fees for bullion purchases, I am not aware of anyone who has incurred a cash advance fee or failed to earn rewards with Amex or Chase (I used Amex cards last week with no issue and have used Chase cards in the recent past without issue). I have also used Bank of America, Capital One, and Alliant cards in recent memory without issue.
H/T: Rapid Travel Chai