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Question about Silver Buffalos

Started by Joey B.-migration,

24 posts in this topic

Joey B.-migration

Joey B.-migration

Posted
Posted

Hi everyone,

 

I'm new here (& to coin collecting!). I just got started in the past month collecting Morgan & Peace silver dollars & the Presidential dollars. Nothing to brag about just yet, but it's been fun so far. :)

 

I have a quick question that I hope isn't "dumb". I decided to also collect the Gold Buffalos & just ordered a 2001 PF70. Along with that I've also decided to go back & get the 2001 Silver Buffalo to go along with these (I've always loved the Buffalo Nickel). Well, I went to Ebay this morning and was going to place a bid on one, but now I'm seeing all of these other "commerative" Buffalo coins. ( such as http://cgi.ebay.com/2003-Buffalo-Silver-1oz-Proof-Commemorative_W0QQitemZ110161244573QQihZ001QQcategoryZ41108QQssPageNameZWDVWQQrdZ1QQcmdZViewItem ) .

 

It was my understanding that this coin only came out in 2001, am I wrong? There are many of these auctions with coins dated from 2002-2007 & they're all saying "proof". Are these genuine US coins, or are they "knock offs"?

 

Anyway, I hope this isn't "too" dumb a question. I've only seen the 2001 listed anywhere official (like on NGC's website), but all of these auctions looked so much like the real thing I wasn't sure.

 

Thanks in advance for any input!

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Lem

Lem

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First welcome to the forum. No, no question is stupid. Second you are correct 2001 was the only year that the Silver Buffalo was issued, what you are seeing are I beleive copy bullion coins only, not United States issued coins. I hope that this helps. :hi:

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jtryka

jtryka

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This is correct, but also you should know that the 2001 silver buffalo coins were not bullion coins, they were actually commemorative silver dollars, so rather than containing 1 ounce of silver, they have the same specifications as Morgan or Peace dollars, 26.73 grams of 0.900 fine silver (0.77344 oz pure silver).

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cpm9ball

cpm9ball

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Hi, Joey, and welcome to the neighborhood! The 2001 Buffalo was issued in a 2-coin set. The proof coin bears the Philadelphia (P) mintmark and the uncirculated coin bears the Denver (D) mintmark. If you are hoping to get the coins raw (ungraded), try to get them with the original Mint packaging and COA. This is what the presentation case looks like.

 

Chris

42803-IMG_1741.JPG.9f160e62b642800577663c3fedfd9d87.JPG

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BillJones

BillJones

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The other posts are correct. Anything other than the mint issued 2001 Buffalo silver dollars are nothing but knock-offs and are worth their bullion content. They are not real collectors’ items IMO.

 

My preference for collecting modern commemorative coins is raw and in the original mint packaging with the certificates of Authenticity (COA). I think that those coins have more character and collector interest than the slabbed pieces. The main reason to buy these coins in slabs is if you want to put them up on a registry. Otherwise the raw pieces are just a saleable at their price levels. Naturally a slabbed PR-70 is worth more than a raw coin, but the raw coin will always have a market.

 

Generally U.S. commemorative coins are high grades. If you see one in PR-67, that would almost be a “cull.” PR-68 or 69 are the most often seen grades.

 

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jtryka

jtryka

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The mint seems to have lost the art of offering various packaging options, instead just putting out more and more coins! They often had 2-coin pr/unc. sets for dollars, 3-coin unc and 3-coin proof sets for commems with $5, $1 and 50c coins, and the granddaddies of them all, the 6-coin sets in the nice wood box with one of each coin in proof and unc. Oh the good old days!

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cpm9ball

cpm9ball

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I guess my memory is failing me in my old age. I can't recall them being sold individually. Can someone post a photo of the presentation case and the COA for the individual proof and uncirculated Buffalo? Maybe that would help me to remember.

 

Chris

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BillJones

BillJones

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The mint seems to have lost the art of offering various packaging options, instead just putting out more and more coins! They often had 2-coin pr/unc. sets for dollars, 3-coin unc and 3-coin proof sets for commems with $5, $1 and 50c coins, and the granddaddies of them all, the 6-coin sets in the nice wood box with one of each coin in proof and unc. Oh the good old days!

 

Yes, I really love the multiple coin commemorative sets. <3 I think that those sets have a really impressive look to them. I jokingly call them “a poor man’s Pan-Pac sets.” I got so hooked on the four and six coin wooden box sets that I went back and purchased them all plus the Jackie Robinson set that had the $5 gold coin and the pin, patch and baseball card. The only box set I don't have is the behemoth 32 piece Proof and Uncirculated Atlanta Olympics set. I do have the 16 piece Proof set.

 

I don’t know why the mint stopped selling the multi coin sets. Perhaps it was from a perceived disinterest on the part of slab collectors. I’ve had dealers buy sets from me and tell me to toss the papers and boxes. One sees empty wooden boxes with the COA offered on EBay. One thing I’d advise is that it’s still cheaper to buy the wooden box sets intact if you can. I did rebuild one from an empty box, and I found that it cost more to do it that way.

 

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rrantique

rrantique

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I guess my memory is failing me in my old age. I can't recall them being sold individually. Can someone post a photo of the presentation case and the COA for the individual proof and uncirculated Buffalo? Maybe that would help me to remember.

 

Chris

Picture003-11.jpg

Picture001-8.jpg

Picture004-12.jpg

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cpm9ball

cpm9ball

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Thanks for posting those photos, Irvin. Unfortunately, they still haven't helped to jog the memory. The only thing I can remember is the 2-coin set that sold for $59.95..........I think.

 

Chris (shrug)

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