pfsBuyerClub update
In my Silver Trading in 2023 article I mentioned a service called pfsBuyerClub. This company buys limited edition coins and other items from their “members,” and pays a premium to their members. They make money by selling these limited edition items in bulk to their buyers, and they need to use different people because these items are location locked, so one address cannot buy 1,000 copies of the item.
The reason for this post is that pfsBuyerClub in running a deal on the US mint Morgan & Peace silver dollars which are released on July 14th. Although I have decided not to go through with the deal for reasons to be discussed later, I went through the entire process so I figured that it could be helpful for some people if I posted my experience. Here are the things that had confused me when I went through the process.
What to buy
When you go on the US mint site, there are several versions of the Morgan & Peace coins being sold. However, the deal is only being run on the “Morgan Silver Dollar Uncirculated Coin” and the “Peace Silver Dollar Uncirculated Coin” As of today, July 4th, pfsBuyerClub is only still accepting the Morgans, not the Peace coins. You also have to purchase 25 of them, as pfs will not accept any less. This will cost approximately $1930 dollars.
How to buy
To sign up for the deal you have to go the the pfsBuyerClub website, and fill out the opt-in form. You also have to go to the US Mint site and sign up for the subscription. This guarantees that you will be able to buy it and also gets you free shipping.
What to do when it arrives
pfsBuyerClub will give you a shipping label, and you simply attach it to the package when it arrives and ship it. It is extremely important that you do not open the package at all, or pfs will not accept it.
I have personally decided against doing this deal because the profits on it aren’t great. Some deals they do can have hundreds of dollars, this is only a $30 profit for the Morgans and $10 for the Peace coins. While it is reliable, the amount of capital needed isn’t easily accessible to me without selling stock. However, I would recommend doing it if you just have the money sitting around, since it would be useful to go through the entire process for the future. Have a great 4th of July!
This reminds me of the world of manufactured spending on credit cards -- the complicated art of turning credit card spending into cash is not for the faint of heart, but it can be good fun while it lasts.