Category: Reselling

I put together a short post on Gift Card reselling in April, so I thought I’d give it another round for May because reasons:

  • Bad news for Safeway, Albertsons, Vons, and other Just4U stores: Gene pointed me at a memo advising that BlackHawk Network cards (like those from Staples or Office Depot) don’t work any more for PIN purchases over $100 at the customer service desk. I’ve also heard that in several regions these cards aren’t working for PIN card transactions any more at Kroger either. Make sure your liquidation avenues can still support unloading these gift cards before you buy more.
  • To counteract the above, the Just4U stores rewards program has two worthwhile coupons this week. Just make sure you add them to your accounts: Buy two $100 Mastercard Gift Cards and get $15 off, and buy two $50 Mastercard Gift Cards and get $10 off. Both of these deals are below cost deals, so no brainers. They’re also Mastercard Gift Cards, which I famously prefer over the Visa variants.
  • BestBuy gift card reselling rates went as high as 97.5% this weekend. When you include some of the current grocery store rewards promotions in the mix, you could do better than break even, and that’s not considering credit card rewards. Historically, the these rates get as high as 99%-101% during Q4.
  • Target gift card rates have sprung back to life, they’re in the 90-92% range right now. If you bought gift cards during Target’s Manufactured Spend Gift Card Weekend and haven’t unloaded them yet, perhaps jump on that.
  • Mothers day gift card promotions have been pushing resale activity into its first major bull market of the year. There were dozens of great deals this weekend, and I expect that a bunch more will crop up over the coming week. A few examples: Happy cards at Target, Happy cards at Kroger, and Adidas gift cards.

My suggestion for you: get set up on a few gift card reselling markets and start experimenting until you get your feet wet and get the hang of it. We’re starting to enter one of the busy seasons of the year so it’s an easy time to cherry-pick your deals. Also, please remember that everything can go wrong (c.f., The Plastic Merchant), so never spend more than you’re willing to float or eat as a loss, and diversify your holdings and resale markets.

A broken swing set, which has largely fallen down, rusted, and is in major disrepair.
Behold, the majestic swinging gift card resale market!

Ok, you’ve probably heard about the coin deal that’s dropping tomorrow. These coin deals come around regularly and several times a year the resale market for them is huge. Tomorrow is one of those times, and you can earn a lot of credit card spend and a hefty commission if you buy. You might also just end up really frustrated after pounding on a site that can’t really handle a pounding.

Here’s what you need to know:

  • There are two hot packages: One Ounce Eagle Coin, and a Four Eagle Coin Set
  • The first will sell for approximately $2,350, and the second for about $4,370
  • Final prices will be set on Thursday, and depend on Gold spot prices
  • Make an account way before the sale starts, the site will be hammered
  • Add and save your credit card to your account as soon as you can
  • Don’t use an American Express credit card (it’ll run as a cash advance)

Coins go on sale at 12PM EST (11 AM CST, 10 AM MST, 9 AM PST), and you should be ready at the landing page at 11:55 AM EST and have an accurate clock close by to watch for the roll-over to 12:00 PM EST. When it rolls over, reload the page and buy as fast as you can. If you’re trying from multiple computers, don’t use the same IP address or you’re more likely to get flagged as a bot and have to solve captchas.

What will you get? If you have contacts, you can earn between $300 and $800 profit for each set and a big chunk of miles. If you don’t, you can either chance selling yourself on ebay (I wouldn’t), or sign up for PFS Buyers Group and opt in to their deal. (This is not an endorsement of PFS, but they are reputable and they will pay. They will almost certainly not be the best commission option available, but you can onboard with them in minutes. I won’t be personally using PFS because I’ve got other relationships.)

A charred, bent, beat out of shape penny.
Check out that nice US Mint coin.

Are you participating in reselling or in buyer’s groups? I could write a book on the former after years of playing and scaling that game; but first I’d have to recover from my mental battle damage and figure out how to restate some of my feelings in a less hostile way, because it actually can be a very good gig.

In case you are, Amazon is sending out offers for $100 off of $300 for creating an Amazon Business account. To get one:

  • Create a new personal account — I used the same information as my normal personal account, other than the email address.
  • Get identified by Amazon’s algorithms as a business buyer — Buy a few things over a few months that are clearly for resale (high value electronics, not normal household items)
  • Watch for en email with the subject “Get $100 off your first Amazon Business purchase”

I already had another personal and business account, so I believe you can churn this. It’s not an instant money maker, but after a couple of months you’ll probably be able to get $100 in your pocket for buyer’s group or resale activities. Just watch for falling fireball-laden mind bombs.

A wooden crate on fire
3D rendering of my memories of reselling.

Now is probably the best time of the year to dip into reselling because the volume is, as Gwen Stefani would say, B-A-N-A-N-A-S. If you’re online or out-and-about and you see any of the following:

  • Nintendo Switch bundle with Mario Kart and 3 Months Switch Online
  • Xbox Series X
  • Playstation 5

… then buy one, two, or as many as you feel comfortable with. (My brother loves to say “Buy now, think later!” — I strongly disagree, but it might be true in this singular case.) List them on Facebook Marketplace or OfferUp and you’re almost guaranteed to make $50-$300 for each item, plus card spend, portal cash-back, dosh cash, etc.

If reselling isn’t for you, don’t stress, just play your new console and eat yo’ turkey. Happy Thanksgiving!

Gwen Stefani surrounded by a marching band holding giant bananas. Image credit: Ronin 47/London Entertainment/SplashNews.com
Gwen Stefani resells bananas.
Image credit: Ronin 47/London Entertainment/SplashNews.com