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.
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
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.
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.