Thursday is going to be a big day for a few lucky people.
We wrote yesterday about the US Mint’s limited edition coin sale — including a gold piece that’s quickly becoming very valuable.
PFS Buyers Club originally said they’d purchase the coin for a $525.05 bounty to those willing to resell. But at least one other buyer club offered a substantially higher commission. Reader Mike soon commented that one club to which he belonged offered him $950.
And a mini bidding war seems to have ensued!
PFS emailed its members who opted in — keep in mind you need a reservation/buy commitment in order to be eligible for their commission deal — that it’ll now pay a $1,000.05 commission per gold coin.
So Everyone Gets a Coin, Right?
This doesn’t mean, however, that you should plan on treating yourself to a luxe meal or something this weekend.
In an email to people who have reservations, PFS rep Aron said:
Please keep in mind, we expect that the majority of people will not be able to purchase one of the Gold coins. It’ll sell out real quickly, and demand will dwarf the supply.
If you have yet to, please consider also opting in to our Silver deal. While it has a lower commission, we expect most people to be able to acquire one, even if you try for the Gold first.
And the US Mint’s website is very stubborn. It’s like it’s part of the government or something.
In my experience, sales for coins that aren’t as in-demand generally sell out in a few minutes. So have a game plan. PFS has a great guide on their site. Just make sure you opt-in before buying!
Good luck to us all.
Featured image: ©iStock.com/RomarioIen
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I’ve succeeded a few times. On other occasions the website either crashed or I thought it crashed only to find my order in the shopping cart ready to check out.
Until he removes the ridiculous language about holding the participant responsible for lost profits if they can’t sell him the coin, I’m not going to bother risking myself to his whims of coming after people.
I wouldn’t sign on a document that makes me financially responsible for something beyond my control, especially when it’s a near guarantee a majority of people won’t be able to successfully buy it in the first place. There’s only 1,945 coins for sale, so good luck battling the hundreds of thousands ready to click on the buy button all at the same time.
As I understand it — and as per my past sales with PFS — he knows most people won’t get the coin. And if you can’t complete the sale, there’s an option — at least, usually — to select something like, “Deal was sold out” or something when you cancel your reservation.
I think his whole thing is that if you get the coin and made a commitment to sell to him, that’s where things get potentially sticky for people who break that agreement.
I give up. I created both accounts and everything went smoothly, but I have been unable to login at the US Mint site after trying for 25 minutes (starting at 8:50 am PST).
Yeah, very disappointing.