There is yet another profitable U.S. Mint coin deal coming up on Monday, 9/13/21 at noon ET.
Cost is $175 per coin set (limit 1) with $4.95 shipping (or pay more for insured shipping). You should be able to lock in a deal with a coin buyer for at least $100 or more in profit on the sale. We always recommend locking in a deal before these goes on sale with a reputable buyer to avoid any risk (keep in mind there always seems to be a bit of astroturfing in the comments for different purchasers so do your own research). Others prefer to take a risk and see what the coins sell for after they sell out. You can find what cards code as a cash advance/purchase in this dedicated post.
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My coins are finally shipping. Got this email response from pinehurst about their deadline
''
per PINEHURST: Hi,
We appreciate your efforts to fulfill your purchase order, however, our deadline of having the package delivered to our facility by Wednesday 10/27 cannot be extended.
We understand that the US Mint's shipping procedures are outside of your control, however, we do not control the market and we have already extended our deadline several times.
Any purchase order not received in our facility by Wednesday 10/27 will be canceled. Yes, you can use your own label.
''
ugh...
Anyone knows a reliable buyer still taking this coin? I though I would keep mine but now thiking maybe I should convert it to a small profit instead ...
https://usmint.pinehurstcoins.com/21xj/
I saw Pinehurst buying it at $200, and not even giving you free shipping label. I would either return to US Mint, keep or try to sell on eBay. Try to ask local coin shops if they interested.
thanks! wow, the price for this one dropped really fast!
UPDATE: I locked in pricing with Paul Mundt of Common Cents Rare Coins on the date the set sold out at $400. Purchased 2 sets at 2 different addresses. Shipped both sets out to Paul on Friday 10/8 and he confirmed receipt on 10/12 (first business day after the holiday). He paid for shipping via Priority Mail Flat Rate Bubble Mailer. He provided 3 different payment options - PayPal (no fee), eCheck, or physical check in the mail. This was a very smooth transaction, and I'll definitely deal with him again for any future US Mint offerings as he was quick to pay and very easy to communicate with over email. He also offered the best price with free shipping and was quick to respond to emails.
Added my 2nd opinion on Paul Mundt of Common Cents Rare Coins. Even though coin price dropped to half of what it was, after he confirmed it at $400 per coin and with free label during the day of the USMint sales, I was able to get the free shipping label no issues when all of my coins shipped 2-3 weeks later, and ship it to him. Took 2-3 days for him to picked it up from the PO box, and than payout in PayPal.
No problems or any talks about reducing the amount (I didn't mention it).
Just got payment from Pinehurst. Overall really pleased with my experience with them.
PointsMaker is welching on this deal now. These coins were backordered and just started processing. PM just emailed a bunch of users telling them they won't accept them after 10/13 (less than 2 business days notice). Problem is the Mint just changed all these orders from BACKORDERED to PROCESSING and therefore it is not possible to cancel orders. PointsMaker is just telling users (or at least those they bother responding to) to return the coins to the Mint. Of course, this means that all these users won't be refunded any of their shipping fees (and may also be responsible for return shipment to Mint). It appears they have done this because they were waiting until the very last moment for the prices to increase because they realized they offered too high a commission. There is a whole discussion about it here: https://www.flyertalk.com/forum/33628973-post484.html
Seems like PointsMaker is now a sketch deal, I personally won't continue to work with them if this is true.
Seems that VinH @ MPD did the same thing to all his folks as well, but at least he gave them 2 extra days heads up which might have actually been enough time to cancel the orders before they went into "PROCESSING" status. And of course they act like they aren't doing anything wrong and didn't make a contract with their folks for purchasing these coins (they certainly did make a contract, and in most cases it was beyond verbal, and it also spanned states and was conducted online, leading to all sorts of nice potential law suits if someone actually wanted to go that route).
Looks like all these organizations took a big hit to their reputations on this. I for sure will make sure to exclude them all from my future dealings. To be honest, there hasn't been a single deal where I haven't seen a better make out by selling on your own over eBay. These guys are milking all of us and we should stop selling to them.
I have never had issues with PFS or Pinehurst. Once they have locked me in or issued a PO they have always honored it. I have sold successfully on eBay in the past but I most likely won't again due to the high risk of fraud.
The coins they’re referring to are the ones from August that were back ordered right? Not this coin deal.
Specifically from what I read of that thread, 21EMN. Not the Peace/Morgan to my knowledge or this one. FYI
You can cancel with the Mint as long as it hasn't shipped. I have been able to cancel orders marked "processing", however once the coin starts the shipping process where they create a shipping label, it cannot be canceled despite the status still showing as "processing". So the status "processing" means you can cancel it but not 100% of the time due to the delay between them creating the shipping label and updating the status to "shipped".
I have been involved in this "hobby" since 2009-2010 when you could buy boxes of dollar coins at face value with free shipping using a credit card (those were the days). Here are my thoughts:
1) Do not assume any deal is final until you get paid and the check clears.
2) This hobby is not for everyone. Do not buy a coin or coins unless you are willing to hold on to it for a long time or potentially sell it at a loss.
3) eBay is the worst place to sell coins. You can find online forums where scammers share tips on how to screw coin sellers and similar commodities that are small and easy to flip. eBay's generous buyer protections make it a scammer's heaven and I got burned to the tune of almost $2K selling a coin on eBay. Aside from the 10% fee, the purchaser has 6 months to dispute the transaction. I am sure a lot of people have sold coins with no problem, but the risk is real and tangible.
4) The USPS is getting worse and worse which means the risk of getting the coin delivered from the Mint and then shipped to the buyer increases the risk. Insurance is great, but be ready to invest hours upon hours to process the claim and wait an inordinate amount of time to get the claim resolved.
I suspect the coin deal from this time last year that was going for $12K-13K on eBay and $10K plus from the normal companies drew a lot of people to this hobby. That was an anomaly and happens once every 10 years. Your normal "profit" is a few hundred bucks per coin deal if you are lucky.
Wow Benson, that was such an amazing answer, thank you 🙏 I have learned so much from this forum and PFS.
There is another coin launch today (American Eagle 2021 One Ounce Gold Uncirculated Coin) (21EHN). Any offers on it? It is quite expensive at $2,620.00, so I am thinking of not buying it.
Also, anyone knows how does return work at US Mint? I bought 3 x (American Eagle 2021 One Ounce Silver Uncirculated Coin) (21EGN). Couldn't find any buyers for it, Pinehurst order was full and I forgot to cancel it. Afraid of selling at eBay. Any other suggestions? Would appreciate any help.
Thanks, Have a nice day :-)
I did today's deal with Pinehurst for $100. Main reason is to finish minimum spend on a cc signup bonus. Plus close to $100 profit for 10 seconds of work doesn't hurt. I had no problems getting the coin.
Coin was easy to get so I went ahead and placed an order about 45 minutes after it went on sale. Got a PO with Pinehurst. The thing that swayed me was Amex's recent update that coins won't count as cash advances. This should get me to a free night cert on my Hilton Amex.
Not much interest in that one despite limited mintage. Still available an hour after launch. This is not a Proof coin, maybe that is why or the coin mania might be subsiding.
Pinehurst is $2720, so $100 profit before shipping and CC rewards. Mine isn't going through though; something about credit card verification :(
Only one offer so far for today's release, including 2% cash back and total fees, i am looking at a profit of $137.21. Given the high cost of the coin, the ever worsening USPS, and the minimal profit, I will be sitting this one out.
The US Mint has a very short return window compared to standard retailer purchase, I think it is a week once you receive the coin.
You could use GreatCollections. Super simple process. Just mail them your coins and they take care of everything else. They handle the financial transactions between seller and buyer so there is no risk of getting scammed. Keep in mind that they require coins to be graded in order to be listed so they will send your coins off for grading first at a small cost. If they come back grade 70 you might turn a small profit, 69 will probably lose you some money but most likely better than most alternatives available to you if you just want to get them off your hands.
Probably should add the biggest downside is that their process takes a long time. It could take up to a month for your coins to be graded, then they list your coin for auction for a few weeks, then payment could take a couple more weeks. Definitely not a good option for a quick flip, but every time I've used them they've been very easy to work with.
For those waiting on MPD- timeline for me went:
9/22 received email from US Mint that coins were shipped
9/27 coins arrived
9/28 sent out coins to buyer
10/4 coins were delivered
10/6 e-check arrived in email at 9 pm pst
My coin is on the way to Vinh (MPD's) place. Did you have to remind him via email about sending the payment or all the above steps got completed without any reminders?
Mine was delivered to buyer 10/7 evening and e-check received 10:45pm same day. No reminder or follow up.
Anyone know sites that sell coins from USMint that aren't ebay. Looking to buy one or two
USPS tracking shows my set was delivered to Pinehurst on Friday, but I haven't gotten any response from them. Have emailed twice and no response... Anyone had past experience of being ghosted by pinehurst?
Mine was delivered Friday as well. Just got my email that it was processed and check is being sent.
Just call them if you are so anxious.
Got the email from Pinehurst that the check is on the way, four days after they got my shipment. Also, sometimes they do not even send that mail, I would just get the check in mail.
People need to chill out. They made it clear that they will process payments within 3 business days. Bombarding them with emails will do nothing but cause further delay. Out of all the coin buyers that people talk about here, they are the only one that has a physical store. If you are losing sleep over selling a $175 coin to them, maybe coin flipping isn't for you.
I'm in the same boat. I sent them an email just now to follow up. Maybe they are just a bit behind.
they usually behind whenever a new US mint shipped. Mine has been delayed up to a week before acknowledge it, and than I got my check a few days later. No issues with Pinehurst at all.
DP: 9/21- received email from Mint that order has been shipped
9/28: Received package and mailed to Pinehurst the same day (I used USPS 2 days priority)
10/1: received a notification email from Pinehurst that purchase order has been completed and payment
has been sent
10/4: received payment/ check
My DP is a similar timeline, I received the coins and shipped on 9/28, Pinehurst received them on 10/1.
However, they only sent me the confirmation email today for whatever reason. The check is in the mail!
Thanks for the DPs. How much did Pinehurst pay for your coin set?
$400.00