There’s a new daily deals site that launched last week. PennyGrab.com will be offering national deals on gift cards, gas cards, gold coins, gold bars, Apple products, and more.
In celebration of America’s Independence Day, PennyGrab will be featuring gold one ounce 2011 American Eagle Coins.
Behind PennyGrab is Huntington Beach, CA-based electronics retailer,HamGo.com.
So how does it work? Each product will be listed with a price range in which the item will sell. Users purchase credits and use them to raise the price at one penny to five cents per credit until the Daily Deal price is reached. Another great feature of PennyGrab is you don’t even have to purchase credits to participate — all items have a “Buy Now” price that drops anywhere from one cent to five cents. The first person will get to purchase the item at a low price, usually 20 percent off or more. The “Buy Now” will then reset the purchase price to the original listed retail price.
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