Buyers Club U.S. Mint Coin Deals Guide
From time to time the U.S. Mint has limited edition coins go on sale that are very popular. In fact these coins can become so popular that people are willing to pay good money to get them. These buyers club U.S. mint coin deals present an opportunity to earn points and even potentially a nice profit. So what do you need to know?
What Are Buyers Clubs
A buyers club is essentially a way for a company to source limited quantity products. For example the U.S. Mint often has very strict quantity limits on their popular coin releases. These deals can be as restrictive as one per household, so by working with a bunch of different buyers these companies can source the amount they need.
Why Participate in a U.S. Mint Coin Deal?
There are two main reasons one would consider participating in one of these buyers club U.S. Mint coin deals.
- Profit: Sometimes buyers clubs will offer a decent profit for the purchase of a coin. For example on a recent deal people were offered $100+ profit for the purchase of a very rare coin! Some people offered much more profit than that even!
- Generate Spend (Earn Rewards): While there are occasionally profitable deals, the vast majority of deals pay a modest profit, but generate a decent amount of spend. Over the years some coin deals have stretched into the thousands of dollars. These buyers club coin deals can be a great way to generate spend to earn rewards or even to hit the threshold for a sign-up bonus.
Buyers Club U.S. Mint Coin Deals – Need to Know
I am actually publishing this guide outside of a coin deal so it can be used as a reference the next time one of these buyers club coin deals pops up. While these deals can be a great way to earn miles/points, there are a few things that you absolutely need to know. These deals aren’t too good to be true, but there still can be pitfalls.
- Be Comfortable with Your Float – One of the biggest mistakes people get into when reselling or buyers clubs is float. Essentially you are buying something and paying for it with your credit card. You then have to receive the item and ship it back off to someone else. While the vast majority of these buyers club coin transactions go through without a hitch, things can go wrong and delay payment. Don’t float money you can’t afford to go without for a period of time.
- Be Careful Who You Do Business With – Everyone has different thresholds for how comfortable they are doing business with strangers. I have been doing this kind of stuff for a long time and place great trust in the community. While I have personally done business with several buyers clubs, I also rely on the information of trusted friends and associated to determine if a club is legitimate or not.
- Things Can Go Wrong – Even good and legitimate businesses can have issues. At the end of the day there is still some risk involved. What would you do if the money you spent on that coin never makes it way back to you. Will this happen? Probably not, but it is always a possibility. Be comfortable with the risk going in.
- You Can Shop Around – All buyers club U.S. Mint coin deals aren’t made the same. Sometimes there are a ton of buyers clubs looking to outbid each other while other deals aren’t as popular. Know that sometimes you can get more money buy shopping around the different buyers while you can also probably sell the coin directly yourself. Determine if that makes sense or if you are happy with whatever you are being offered.
Advice – Organize & Follow Through
Working with Buyers Clubs on coin deals requires a little bit of organization and follow through. Make sure you have some way to track your coin through purchase, shipment and payment! Also, I suggest if you commit a coin to a specific buyers club that you actually sell it to them even if you get a better offer. They do often have terms you are agreeing to as well, so make sure if you commit to buying that you follow through as well. (Or at least understand the ramifications of breaking that agreement.)
How to Get Started
If you are looking to get started with a buyers club U.S. mint coin deal we recommend staying tuned to our site since we have been covering these deals when they surface for years. We also have great discussions about these deals in the MtM miles/points Facebook group (Join us!). In other words, pay close attention to MtM and you’ll know the next time one of these deals is happening!
Recommended Buyer’s Clubs?
The MtM team has worked with a number of buyers clubs on U.S. mint coin deals and on other deals as well. We don’t recommend any specific buyers club since we don’t want MtM to be seen as endorsing them, but from time to time when we cover these deals we will highlight which clubs are available and our past experiences with them.
Buyers Club U.S. Mint Coin Deals – Bottom Line
If you are considering one of the buyers club U.S. Mint coin deals then you have found a sometimes lucrative and fairly easy way to generate spend and credit card rewards. While this is a method we all use here at MtM, we urge you to use caution and to be comfortable with the process. Happy spending!