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With my travel down to nearly zero the past 1.5 years I have taken up some of the points-generation activities now popular among points earners.
US Mint Coins Deals and Buying Groups
Selling US Mint coin releases to buying groups is a way to generate credit card spend, and often make a bit of a profit. Buying groups take the price uncertainty out of the equation. They quote a price prior to coin release, and take reservations from sellers in exchange for a commitment to sell the coins at that price upon successful orders. The alternative for a seller is to buy without a commitment and test the market after coin release.
This system works well when seller and buying group interact honorably. Sellers that reneg on their commitments, such as a well-known case a few years back that saw post-release prices increase significantly over buying group guaranteed offers produced creative and vehement rationalizations from sellers bailing on their commitments to chase higher offers.
There is risk in selling to a buying group. A seller pays for the product and sends it to the buying group, for which payment is only made after receipt. Any seller must do their own due diligence on buying groups and make their own risk determination.
How to Get Started with a US Mint Coin Deal?
For my first coin deal I read and re-read the Frequent Miler and Doctor of Credit posts on the current deal and prior deals. Read through the extensive comments.
There are various best practices on how to prepare to order, what cards to use, how to get orders to succeed. Frequent Miler, thanks to my mess up, now puts up a clear warning that US Bank/Elan credit cards do not earn points on these purchases.
These releases are fast and furious with many people competing for limited coins on a website that is prone to errors.
July 29, 2021 US Mint Coin Deal Goes Live at 12 pm EDT
I will be trying to place orders for all 5 coins/sets. The buying group I have made reservations with, DCB, has encouraged me to share their info for other prospective sellers to consider. I have sold several prior deals to DCB. The communication has been clear and the terms honored.
If you sell to DCB, I will receive a one-time refer-a-friend bonus. I am not party to your transaction with DCB. You are solely responsible for your own assessment to pontentially buy any of the coins, and to whom to sell any coins you buy.
Contact DCB at email@example.com to learn more, reserve your coins, obtain instructions, and join the WhatsApp group for the buying group.
DCB is offering the following payout over US Mint price, along with coin links:
- Four-Coin Set (21EFN) – $510 over US Mint price
- 1 oz Gold Proof Coin(21EBN) – $150 over US Mint price (DCB, from what I have found, is the only buyer currently taking this one)
- 1/2 Oz Gold Proof Coin(21ECN) – $185 over US Mint price
- 1/4 Oz Gold Proof Coin(21EDN) – $75 over US Mint price
- 1/10 oz Gold Proof Coin(21EEN) – $30 over US Mint price (no provided shipping label if just this one)
If getting all 5, that will be $10,160 credit card spend, plus $940 commission.
DCB wants orders split in the following manner:
1. Four coin set will be high in demand and so likely will sell our fast, so order that first and then you can order rest of the coins.
You can either order rest of 4 single coins individually or combine as below:
2. Order 1/2 and 1/4 Oz together.
3. Order 1 and 1/10 Oz together.
DCB will buy Four set, 1 oz, 1/2 Oz and 1/4 Oz by itself as well, but 1/10 oz needs to come with a 1 oz coin.
When your orders are confirmed by the US Mint, DCB will provide insured, pre-paid shipping labels for you to use to send to the buyer. You’ll need to ship the coins within 7 days after receiving the coins from the Mint. You’ll want a dropoff receipt when you ship. Payment will be done via ACH within 3 business days after the buyer receives the coins.
Important: DO NOT OPEN boxes you receive. Every buying group requires you to receive the package, add the shipping label and send to them, box unopened.
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Everybody is free to sell to anybody but I would stay away from DCB. I know he scammed many people in the past and I don’t want to be one.
care to share more details?
Have you used them before?
Yes, for several Mint deals.
yes, he’s been quite reliable in my experience, and afaik.
Unlike Chase….. Even though I called them before using it, my Chase Sapphire Reserve killed my purchase…. (Never mind their own recording had cheerfully, yet falsely told me, that, “good news, you no longer need to report large purchases in advance.”
I know, should have used my Ink card instead…. of my “best” card. (now on the cancel block) I shoulda stuck with my Amex bonvoy brilliant…. (though yah, I know, that’s not supposed to work for us mint — except it does….)