2013w American Buffalo 1 ounce reverse proof

New price now $1690. Up on the mint site

 

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if this is the coin on ebay by south bay mint it will not ship for 20 to 30 days so its not on hand
i am also happy to see people are already canceling there oder on this coin

 

Why is it good if they cancel? Just wanted to learn from you guys.

 

lower mintage maybe

 

Some updated news that was confirmed by me today when I spoke with mint officials....another 1000 coins are on there way! They don't know when they will arrive.... Either Friday or Saturday. The rumor that is going around is the mint is raising their purchase limit from 5 to 10 per person which is freaking crazy. To answer some questions....every big and small dealer alike now has these at there tables. The big dealers did same day grading and have them at their tables already. Ngc is doing an exclusive label only for the Ana show. Pricing has gone up to $1690 today. So they will cost the same if purchased online. I am trying to buy some more. I will keep you all posted.

 

Of course another 1000 are on the way!! Another 1000 after that if those sell too!

Well best of luck to ya - grab the free money while you can - I don't see these holding much value above and beyond the standard proof coins, mintage will be to high. These won't garner the kind of attention that the UHR Eagle did, even with half the mintage basically because it's not an attractive coin.
I think the mint would have done better offering a 2 coins set with a proof and reverse proof 1/2oz coins... oh well.

 

None offered today. Tomorrow is supposed to be the big day. There are now over 30 thousand orders placed through the mint. This could be a big success down the road or just bullion. Time will only tell. For all those nay Sayers out there....remember when everyone said that the UHR with over 100k mintage would be just another piece of bullion....now look at it. It is worth $1000 more raw and almost double graded.

I am going to try and get some tomorrow. I will be only at the show for a few hours tomorrow so if they don't arrive by time I leave then I won't get any. Should I happen to get some and you pm me by tomorrow morning I will try to get you one at cost. Pm me to discuss details.

 

Do you know how much the dealers are selling their already graded reverse proof buffalos?

 

I hear ya with the comparison to the UHR, but after giving it more thought this release although a first for the series really doesn't compare to the UHR. It was a 1 year only release and while it was a recreation of sorts it realized St. Gaudens original vision of the coin.
While i'm sure it will carry a premium over the standard proof coins the mintage will be to high for it to be a real winner as there are plenty of other buffalos out there for those who want to add one to the stable. Compare it to the 2006 gold eagle reverse proof which after a quick look out there sell for $3200~ and less on Feebay for PF70 FS etc etc.... roughly a bit more then double what a standard 1oz eagle is going for, with a mintage of only 10,000~ I have to say there are probably more hardcore AGE collectors out there then there are Buffalo collectors although I make that assumption because the AGE has been around since 1986~

We will see once the dust settles and the mint ships out all the orders, but if these carry a premium of more then a few hundred dollars over the standard proofs i'd be surprised... not to mention the standard proofs are likely to have half the mintage of this coin for 2013~

Best of luck tomorrow, get em and flip em as soon as you can!

 

The ones I know who had them already sold them. They wouldn't disclose to whom or for how much. Sounds like one dealer may have gone around and bought them all up.

 

Sure can't buy that. I wish I had $1600 in my pocket today. :-(

 

Me too. Wonder if the US Mint sold some more today at the ANA.

 

Still at show. Stand by for full details and how the public got screwed out of more buffaloes.

 

haha nice, sounds like a dealer got an inside track~ Keep us posted~

 

pm sent to jaceravone

 

So.........did they sell anymore at the show? Who got them?

 

Are they paying the 1690 at the show, or lower?

 

Anybody got an update from those who went to the ANA? It sucks not being able to go

 

So here is the rest of the story..... as many of you know, the US mint surprised everyone....even the dealers when Mr. Peterson dropped the bomb that the US mint had 1000 rev proof buffs to sell on hand. I was one of the first 50 in line. The max order was 5 per person and they sold out relatively quickly. There was word around the show that some dealers were buying them for $100 but my buddy and I never found those people. We got $50 over per each one. We ended up each keeping one for ourselves. So we made $200 easy money that day.

Well then the mint later that day announced that another 1000 would be available for sale but no set date was known. Could have been Wed, Thur or Friday. So each day a line began to form only for everyone to be turned away.

On Wed morning, we then found out that NGC was doing a special label and some dealers already had them in hand. They were actually very nice labels. Word came out that PCGS was doing the same but I never saw theirs. My buddy and I were kinda bummed because we then wanted that special label, but figured we would submit the one we kept plus our other 5 when we got them when the next batch were released.

Then came the big day....Friday. My buddy made a prediction that all the dealers and their people would already be in line prior to the public being allowed in. I told him that I didn't think so, but how wrong I was. You see, dealers were allowed in starting at 8, the public wasn't allowed in until 10. So as you could imagine, people were fighting to get in the show as fast as you could. My buddy started to get into an argument with a security guard because people were just pushing you out of the way to get in line. Really there was no line. The gates opened and everyone was off to the races. To our surprise, the line was incredible. Everything he predicted was true. Dealers brought their kids in and lined them up with 8 grand in cash! These freaking kids were running around flashing their money! I couldn't believe it.

We were in line for over 4 hours!!!! So as were standing in line, all these big dealers, Coin Vault, Gold Mart, Modern Coin Mart and others were sending their people to buy up everyone's buffs. My buddy and I still had our one that we kept in our hands and were were offered $175 for it and we sold it thinking that we still had 5 more to buy. Then the prices jumped to $225. We then committed 3 of our 5 to the dealers as these prices were getting good. This would leave us each with two....one for me and one for a fellow CT member who I promised.

Then word started spreading that only 3 were being sold to each person. We freaked out because we were expecting 5 each. But to meet demand they dropped the number per person from 5 to 3. Rumor started spreading after we stood for 2.5 hours in line that they had dropped the limit from 3 to 1, but I spoke with the head person at the mint who confirmed that was just a rumor. So after 4+ hours standing in line, we got our 3 and stood by our commitment to the dealer we spoke with and sold them.

In the end, my buddy and I walked out of there with no buffs in hand. We did make some cash which ended up paying for most of our trip, but I don't have a rev proof buff to stare at. The only thing that sucks was that I canceled my order from the mint when they were $1740 and now have to pay $1790 to get them again. Oh well. They are selling like crazy on ebay, especially the ones with the special ANA labels. I hope to get one one day, but not for the prices they are asking.

All in all, the ANA was a fantastic show. Well worth the trip. I picked up some awesome pieces and even cherried a sweet BU 1941 S over S walker. Give me a few weeks and I will have all my purchases up on my web site.

 

Pretty much as I expected~ I hate the mint~ At least you made a few bucks off 'em.