Get Started

Learn more about Credit Cards, Travel Programs, Deals, and more.

Red Alert! $3,000 Coin Deal Is Going Live & Why You May Want To Avoid It

This post may contain affiliate links - Advertiser Disclosure. As an Amazon Associate, we earn from qualifying purchases.

3,000 Coin Deal

Red Alert! $3,000 Coin Deal Is Going Live & Why You May Want To Avoid It

Shawn wrote about the coin deal that goes live in about 30 minutes a few days ago.  On the surface it looked like an amazing offer. You could knock out $3,000 in spend and put anywhere from $50-$200 cash in your pocket by selling it to pre-confirmed buyers. This wasn’t going to be as crazy of a profit as the last coin deal, where $80 coins sold for $1000+, but it had a big price tag.  That meant easy points, enough to hit some welcome offers if you so choose. But some things have changed since Tuesday and I am sitting this round out.  Let’s take a look at why.

Offer Details

Here are the details on the coin:
  • Offer goes live Thursday, September 24th – at 12:00PM ET the US Mint will release a limited edition Palladium coin.
  • There is a limit of 1 coin per household.
  • The cost of each coin will be $3,000.00. After including the $4.95 shipping charge, each order’s total will be $3,004.95

3,000 Coin Deal

Why I Am Sitting This One Out

At first, I had plans to try to get in on this deal.  People seemed to be excited about it.  PFS Buyers club was offering a $50 profit but others were saying they could offer around $200.  That meant I could get $3,000 in spend plus a few hundred dollars in profit, what is not to like?

Then buyers started to adjust their payout amount.  It went from $200 to $100 to $75 etc. They also went from taking 100 people’s orders to 20.  Or went from allowing 3-4 orders to be submitted to 1 order etc. It appears backend buyers, which even PFS has, are backing out or reducing quantities they will accept.

I also read that the last version of this coin, the 2019 one, still hasn’t sold out.  The 2020 version has a smaller production quantity than the 2019 version but that still isn’t a good sign.

Final Thoughts

If you have a slot secured with PFS or a buyer you have worked with in the past then you will probably be okay.  Having said that, there is always some risk in these deals and this one seems to be riskier than most.  If the coin was a few hundred dollars again I would probably take the risk. But when we are talking about a few thousand dollars, the pay off just doesn’t seem worth the risk to me.  Especially with how shaky the ground feels underneath it right now.

I have also heard that there should be another release in November that will have higher demand.  Hopefully that holds true.  For this one, I am going to have to give it a hard pass myself.  Let me know your thoughts in the comments below.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

Increased Offer! - Chase Sapphire Preferred® Card 75K!

Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now earn 75K Chase Ultimate Rewards points after $4K spend in the first 3 months with a $95 annual fee. That's over $900 when you redeem through Chase Travel℠.

Learn more about this card and its features!


Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Mark Ostermann
Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

15 COMMENTS

  1. Making me nervous over here! Lol
    Happy to say it is now sold out. Spot price of palladium should go up as well with such short supply helping out the value.

  2. “If for any reason within 7 days of receiving your product you are dissatisfied with your purchase, you can return the entire product for refund. Shipping charges will not be refunded for all returns.”
    So your risk is less than $15 for shipping.
    I’m in for this one, PFS has been great to deal with. A 1.6% return not counting points/benefits in well under two weeks. Tell me where you get those returns these days? I’ve seen folks jump through hoops and tie up large sums with banks for months for the same return!

  3. The US Mint has sold 17,804 of the 2019 Palladiums as of 9/20/20. With there being a run of 10,000 instead of 30,000 on these, maybe demand will be a little higher. I didn’t go for the PFS deal and am hoping eBay gives a better return than $50.
    [https://www.usmint.gov/about/production-sales-figures/cumulative-sales]

    • It has been live for 40 minutes and is still available. I am not sure this is going to be a money maker on the open market.

  4. If PFS or CGB or any other buyer who wants you to purchase it for them doesn’t end up paying out or problems arise, then I’m stuck with a $3k coin that is more difficult to liquidate to just break even compared to gift cards. Plus the profit potential is too small for the risk. The ROI doesn’t makes sense to me.

  5. So are you thinking PFS may end up burning people? If so, that would be the end of their business model. It only would take one time for them to stiff people and it would be all over.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related

7,703FansLike
9,903FollowersFollow
16,444FollowersFollow