This coming Thursday U.S. Mint will be launching some new limited edition coins that can be purchased with a credit card and sold for a profit. The coins are as follows and go live at 12:00PM ET (limit 1 per set/coin):
- Limited edition American Gold Eagle Proof coin. Cost will be $2,375.00
- Four-Coin American Gold Eagle Set. Cost will be $4,410.00
I always recommend locking in a price will a reputable coin purchaser before the coins go live so you eliminate your risk entirely, but others prefer to take the risk for a bigger profit. You should be looking for at least $100 profit on the first coin and $200 on the second coin. Remember that American Express now considers precious metal coins as a cash advance as of January 15, 2021.
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What’s the best credit card for US Mint purchases? Feel like a lot of them have moved away from crediting US Mint purchases towards awards/points.
I thought William created a page about this once, but I can’t find it now. If anyone finds it let me know and I’ll add it to the new Morgan coin page.
Was only in draft mode, see you have a completed one now 🙂
Here for the Morgan Silver Dollar chatter.
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Thoughts on the Morgan Silver Dollar that PFS emailed about? Any significant resale value?
I’ve created a dedicated page for that now https://www.doctorofcredit.com/new-coin-deal-this-monday-5-24-1700-in-spend-250-profit/
Has anyone had a check from a coin buyer get lost in the mail? My check from Pinehurst still has not come after it was supposedly mailed over two weeks ago.
No, but they told me I would receive mine within 1-8 business days of them sending the check (I received mine). If it’s been longer than that, you’ll need to contact them to send you a new check.
The saga of my coin purchases is unreal. The mint is just shipping my orders out today!! I had to call and email them asking why my shipments were delayed, and they said my orders were on hold because I owed them money. I asked customer service why I would owe money, and for how much, but the lady on the phone said she couldn’t find any more information, and would need to get back to me after doing some research.
At least they didn’t cancel my orders, and it looks like pfs and pinehurst are still going to honor their purchase orders. I am selling the set to pfs and the 1/4 and 1/10 ounce coins to pinehurst. Paid with my Chase Freedom Unlimited for 1.5% cashback. Nothing has posted yet, but everything went pending at first like normal. Can’t wait to be done and over with this already.
There are others paying more than PFS for the 4 piece set. You can get $450+ from others!
I haven’t used Pinehurst before so I didn’t want to take a risk with the set this time. Other than Pinehurst, I’m not aware of any others who were paying that much for the set?
There is a user named CoinFlip on Collectors Universe who may still be looking for 4 piece sets. Please see this posting. https://forums.collectors.com/discussion/1053677/500-mint-release-2021-proof-gold-buying-issue-price-thursday-9am-pst-12noon-est-500#latest
Another user up there (CommonCents05), was also paying $400 recently but I don’t know if he still is.
If you think yours is unreal, hear mine. Got an email on 3/11 saying there was a problem with my card. Called and they said charge didn’t go through even though I could see a pending charge. Called Citi, they said it went through. I called the mint several times and had them retry charging the card. But I didn’t have enough credit so I needed to wait until the pending charge fell off before they could try again. I was told the order would be automatically cancelled after 7 days.
It took 3 weeks for the pending charge to fall off. I had pretty much given up at that point and assumed the order was cancelled.
Surprise! I got an email today 4/19 out of nowhere saying “Your U.S. Mint order has shipped”
Glad you finally got your coin to ship! What an ordeal. Hopefully whoever you’re selling it to will still take your order. PFS and Pinehurst did not cancel on me so that was a relief.
Just a data point on my US Mint coin purchase. PFS paid out immediately. No issues there but my Fidelity Credit Card didn’t give any points for the purchase. I did get points for my Gift Card Mall Happy Card purchase on the statement. I was VERY disappointed. So, do NOT use Fidelity for coin deals is the lesson learned.
Just found the check from Pinhurst in my PO Box. Was even able to unload some silver coins and they paid over spot.
I rate them them 9/10 because they were a little slow. Had to remind them to send a PO for each transaction and they said it was 24-48 hours to issue the check but it was postmarked 5 days after they received the coins. That’s why I just paid for shipping with insurance instead of asking for their Fedex label.
Another vote for Pinehurst. I used their $60 shipping label as it was slightly cheaper than paying for own with the appropriate insurance amount. 99% chance that I could have shipped without insurance and would have been fine – but did I really want to risk the bulk of the cost of the item to save $45? Got to them via FedEx in about 3 days and they’ve notified me of payment sent. Only once the average eBay price of these creeps up to a sustainable $5.700 would we have made out better selling direct. There is a possibility that happens over the next year (or longer), but just as much a chance it could have dropped a few hundred more. I think anyone who offloaded these for $350+ did a pretty good job at this point. Time will tell…
honestly it’s a waste to pay that much for insurance imo, but of course everyone has their own preference. I personally used USPS Priority, cost about $14 with signature. All is good and Pinehurst just confirmed shipment and sent the payment to me. I will never pay $60 for these type of shipment lol.
Well, it’s a waste of money unless usps loses the package, which does happen, usually at the worst time.
Right. Default insurance is only about $500. If that coin was lost, I would not be happy with recouping only $500. I think it was worth paying less than 2% of the price of the item to insure it against loss. I can live with a $400 profit instead of $450, I couldn’t live with a $3500 loss.
Anyway – got the check yesterday, only took like 2-3 days for them to get it to me.
Yep, I went with Pinehurst too, just got the check. Thanks to whoever did the groundwork. They are a little slow, took them 2-3 days to finally issue that Fedex label for me. And next time I will probably opt either for a wire or registered mail for the check. Second time selling to them, everything has been smooth so far.