We all remember what happened with the last US Mint coin deal. If you don’t remember let’s recap real quick. A buying group offered to pay $50 if you bought the coin. Some people agreed to the deal and “locked” it in. Then after the coin came out, prices on Ebay skyrocketed to about $2000 per coin (remember the cost was around $1400.) Then other buying groups and even big name coin dealers were offering $100 for the coin; some even went up to $400. Then some people reneged on the $50 commitment. Some threats were made. Some coin dealers banned folks from selling to them again. It was crazy!
Anyhow, there’s going to be a new coin deal on Jan 24. Now let’s come back down to Earth. NOT EVERY COIN IS GOING TO BE THAT HOT! I had done previous deals before that and most of them were either barely profitable or even money losers on Ebay. So don’t go expecting this coin to do the same. And from my “coin guy,” he didn’t think it’s gonna be a slam dunk. He says the coin has too much supply and the price is a bit high. I don’t know the exact price, but I think it’s going to be around $500 per coin. Ebay preorders are going for about $650 gross (around $575 net fees.) This doesn’t mean the market won’t skyrocket if the demand is there.
You have a couple of choices now:
- Lock in the $50 now
- Not lock it in and risk the buying group not taking sales and risk selling it yourself (you could either lose up to $100 or maybe make over $100.)
I’m not here to tell you what choice to make; I’m just saying that just because the last coin did so well doesn’t mean this coin will. And since my guy isn’t super excited, then you may want to take the easy money. Then again, I’m sure my guy wasn’t super excited about the last coin until after he saw market demand. Either way, I’m buying the coin just because you know I love to gamble.