2006 American Buffalo Gold Proof

[Brucec-migration]

I am thinking very hard about ordering five of the new $ 50.00 Buffalo proofs I know that gold is only at $ 595.00 per ounce but feel the value of these coins will only go up. Any thoughts on this I assume that this is the only year they are making these proofs and it states the limit will be 300,000

[EZ_E]

I definitely think that the after market price will go up. Plus, there will be demand on this first year of issue.

 

p.s You reminded me to order one which I just did.

[Brucec-migration]

Thank you for your opinion, I see those TV shows selling them for $ 1,000 and $ 1,200 already do not know how they can do that when they have not even been released yet.

[CueMaker-migration]

I am more concerned about the potential of the ms buffalo. You know the coin, the one the average collector wasn't able to buy.Just a thought

[Regis44]

I am more concerned about the potential of the ms buffalo. You know the coin, the one the average collector wasn't able to buy.Just a thought

 

Please, do tell... what is your concern? I placed my order for MS Buffalos a couple days ago?

[CueMaker-migration]

Where did you order it from?

The mint only sells proofs to the public.MS must be purchased from "authorized dealers".

[Regis44]

Where did you order it from?

The mint only sells proofs to the public.MS must be purchased from "authorized dealers".

 

I ordered mine from local precious metals (bullion) dealer. He said they should be in on Friday the 30th.

[TomB]

There are a number of large metals dealers that sell the Buffalo gold and these include Tulving and APMEX among others.

[jtryka]

I think I'll save my cash for the upcoming SF mint half eagles. With Longacres's Liberty and a combined mintage limit of only 100,000 they seem like a better bet to me (plus you can add in the Morgan dollar as well). And although this is a popular design, the one-ounce gold eagle hasn't sold more than 100,000 proofs since 1987, and the only year that was higher was 1986 which was 446,290. This might be better with a cap 1/3 less than 1986, but I would think it's not a slam dunk. Of course I may also underestimate the crazyness of Buffalo fans too!

[Robbie-migration]

I purchased one today, I know if I hadn't I would have regret it later and purchased one for a much higher premium. I like this coin not because of the Buffalo design but because it's a first year issue, if they decide to mint them next year. Also, because the US Mint claims this is the first 24 Karat gold coin they have minted. This is what I believe makes this coin very special. Maybe a whole new trend on the way the US mint produces bullion coins.

 

I purchased my MS Buffalo from http://www.sequalitycoins.com/

 

I also purchased the Proof version from the mint.

 

 

The world is getting smaller, us population closing in on 300 million with only 300,000 coins being minted, that is one coin per 1000 people. Not that this has any relevance, I just thought it to be interesting.

[Brucec-migration]

Well I just purchased five proof from the mint I hope I am not sorry only time will tell.

[EZ_E]

I am more concerned about the potential of the ms buffalo. You know the coin, the one the average collector wasn't able to buy.Just a thought

 

I don't think that there is a cap on the mint state issue which means that its value will be related to its bullion value and any hype created by the issue.

 

Robbie, I think that you confused the proof mintage with that of the mint state. That makes a big difference.

 

I can state with full confidence that the proof issue will not loose value. Once it is sold out then look for the price to be at least $1000.

 

I think I'll save my cash for the upcoming SF mint half eagles. With Longacres's Liberty and a combined mintage limit of only 100,000 they seem like a better bet to me

 

Jeff, I've been out of touch with coin news since my coin paper subscription expired. Please elaborate on the design. It's for 2007, right?

[jtryka]

No Victor, this will be in 2006. The President just signed the bill for a silver dollar and gold half eagle to commemorate the survival of the old SF Mint in the earthquake of 1906. On the cover of this week's Coin World, they showed sketches of the two designs recommended by the CFA and CCAC. The half eagle obverse has Longacre's Liberty from the double eagle design, with a reverse of the old SF mint building (mintage limit 100,000 total for proof and unc.). The silver dollar has George Morgan's Liberty from the Morgan dollar on the obverse with a reverse of the old SF mint building (total mintage limit 500,000 proof and unc.). The law states that these coins must be produced and marketed in 2006, with none being minted or sold after December 31. I can only guess that these will be released this fall.

[EZ_E]

Thanks for the info, Jeff. Since I collect the commem silver dollars then this certainly pertains to me. I was wondering if they would issue another dollar this year since there were two Franklins issued. I guess that the law is kind of vague but I thought that there was a limit of two commem dollars per year.

 

I'm sure that I'll pick up the gold as well. It will probably sell out though which will mean that it will probably only increase if gold bullion increases.

 

I have the unc Salt Lake Olympic $5 with a mintage of only 10K and it still hasn't done much especially compared to the BU Jackie Robinson with a mintage of half that.

[jtryka]

Victor, I disagree on the half eagle. I think with a retro design like that, demand will likely more than support the 100K mintage. I too have the 2002 SLC half eagle (I thought the mintage was more like 5,700) and the reason that one has lagges is that despite the low mintage it's a butt ugly coin, so the demand just isn't there. In the same way, I think a 2006 Morgan dollar will sell out in days at 500K, just like the Buffalo dollar in 2001. It seems anytime the mint resurrects an old design (including the continental dollar) it's met with impressive demand.

[EZ_E]

Victor, I disagree on the half eagle. I think with a retro design like that, demand will likely more than support the 100K mintage.

 

You may be right. We'll see. I think with a mintage of 300K for the new proof Buffalo, demand will exceed the mintage.

 

 

I too have the 2002 SLC half eagle (I thought the mintage was more like 5,700)

 

No, I'm positive that that was an inaccurate early figure. I think that was just individual sales not including sales in sets. The actual mintage is just a tad over 10K.

 

It's kind of like the Icelander Leif Erickson commem, I always thought the mintage was but 15K because all of the figures that I've seen say this. Then, I discovered it is closer to 50K. It takes years (if ever) for the publications to get these mintages right.

[Brucec-migration]

Well I saw the mint changed the delivery date to July 9th but now I see it is back to the 13th again.

 

I also think the proof isue will be sold out soon and the value will go up very fast once that happens.

 

Time will tell..

[ea3bav8r-migration]

FedEx deliver my 2 proofs this afternoon. So much for the 7/13 ship date. Any opinions on why the early ship? Slow sales or fast sales. I have been trying to find any information on how sales are going and haven't found a thing. If anybody knows a good source of information on the sales, please give me a shout.

ea2bav8r

[Brucec-migration]

I tried to get some sale information out of the mint but they said they are not allowed to say anything.

 

One day the ship date is 7-6 the next it says 7-13

 

I personally think when they state a shipment date they should stick to it. The initial one said no coins will ship before 7-13

 

But whatever, my five did not ship yet I know.

[Brucec-migration]

Well do not see mine on my charge yet so my five proof's did not ship yet. They will probably get here when we are away some said they left them on the porch that will be nice I will have to make some arrangements when we are away can you have FedEx hold shipments for you anyone know?

[Beijim]

The July 10 Coin World reports first day sales of some 50,000 proof examples, with approximately 75,000 sold as of midday June 26. Also as of June 26, the same article reports some 74,000 uncirculated strike coins sold.

 

Beijim

[BullionCube-migration]

I received my Proof Buffalos on June 30th. I had to return one the same day because it had a ding on the upper right edge. They haven't billed me yet, though the mint has done that before - ship now, bill later. So I still have some time to scrounge up $2400. Has anyone actually "touched" the UC versions of the Buffalos? I hear they are very soft, as 24k gold is not the most rigid of metals.

[Regis44]

QUOTE: "Has anyone actually "touched" the UC versions of the Buffalos? I hear they are very soft, as 24k gold is not the most rigid of metals."

 

 

Picked up my UNC today but, I'm not about the touch it hard enough to find out. Sending to NGC tomorrow.

 

Regis

[tacobandidodan]

hi

I didn't know you could "send them back",I have 4 coming.

thanks,Dan

[Money Pitt-migration]

I got my NGC MS70 today.. Looks good. I have not purchased a proof yet..still on the fence.

[ea3bav8r-migration]

Well do not see mine on my charge yet so my five proof's did not ship yet. They will probably get here when we are away some said they left them on the porch that will be nice I will have to make some arrangements when we are away can you have FedEx hold shipments for you anyone know?

 

Brucec -- Yes you can contact FedEx, or for that matter any of the shipping companys, and ask them to hold any deliveries. They typically want as much information about what, when and from whom as possible. Depending on your neighborhood/neighbors, I have found that having my next door neighbors/friends look out for stuff to be the most effective. I was the one that had them left on my porch.

 

My coins were delivered Friday 6/30, on Tuesday 7/4 I got an email from the mint, dated 6/30, that said my coins shipped on 6/30. I sure hope I don't have to pay for same-day delivery! They did not show up/post on my credit card until 7/4, but transaction date was 6/28, the actual ship date. Nobody here thinks the government is efficient, right? "I'm from the government, I'm here to help you!"

 

Hope you all get nothing but MS70s and PF70s!

 

ea3bav8r

If necessity is the mother of invention, then laziness is the father!

[jhd]

Hannes will sell only a minimum of 10 coins. However, there are others who will sell a single of a few coins. I ordered one this past week in 69 slabbed by "the guys down the street"... I personally prefer MS coins as opposed to proofs, but that's just me. Am wondering what percentage of the coins struck for bullion (MS) will grade as 69 or 70, suspect it may be a fairly high percentage. As for the proofs it's almost a given that most of them will grade high. Anyone care to venture an opinion on this?

[Brucec-migration]

ea3bav8r, thank you for the information I have been away for a couple days now and will be back to my house Wed then gone for another four days.

 

That is interesting because I noticed the USMINT does not have my order still as pending, however I noticed my credit card balance went down 4,000 around two days ago but the charge is not showing up yet. Also received no notification from the USMINT that my order has shipped. WOW with a large $$$$ order don't you think they would be more careful in letting you at least know when your order shipped.

 

With my small $$$ orders I always get a shipped notice and tracking number that never seems to work but I at least have some idea of when it is being shipped and will get to my house.

 

Well I even asked when I ordered it for insurance of it it was insured and the person on the other end acted like they had no idea of what I was talking about. Hmmmmm I wonder what country they were in.

[Brucec-migration]

Just a warning I saw another post like this. I had no notification from the US MINT that my coins shipped and was told that they tried to deliver them two days ago to my house, I am not there.

 

Received no email from the mint stating they were shipped if I go to the web site my order says pending.

 

I did get them to hold the package until I can pick it up.

 

Also it still does not show the purchase on my credit card.

 

So if you have ordered these gold coins they may be sitting on your porch.

[Brucec-migration]

Well I picked up my Buffalo coins at FedEx this evening I also got an email from US MINT today saying they have been shipped. That was nice of them they were here two days ago.

 

They are nice impressive case the proofs are in.