Special coin - Why the price is not rising ? 2013-W $50 One-Ounce Gold American Buffalo Reverse Proo

Special coin - Why the price is not rising ? 2013-W $50 One-Ounce Gold American Buffalo Reverse Proof :

Today we are at the beginning of 2015 and nothing happens with this gold coin!

Example:
GC:
2013-W $50 One-Ounce Gold American Buffalo Reverse Proof First Strike PCGS Proof-70 (Black Diamond Label)

Time left: Ended
(Sun, Jan 11, 2015 07:03:44 PM Pacific Time)

Winning bid: $1,456.00

 

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I guess it's not so special then maybe? Not enough collector interest for the available supply usually keeps the price down.

 

It's overpriced for just another boring bullion coin. The world is awash with them.if not this exact type but as many varieties of similar products as the producers think the market will bear.

As soon as buyers start thinking "This is a bit boring, do I need yet another modern product designed only to sop up buyer's excess cash?" then the supply will dry up.

Meanwhile there are enough gimmicks for this year on offer to make last years latest thing 'so last year'.

 

I finally got tired of mine and sold it for $1500 cash about four months ago. I felt dang lucky to get that price.

 

I still have mine, and am not worried about the price. I have it for the long term!

 

I have both the 2013 reverse proof and the very low minted 2013 regular proff. I buy coins for years from now, not days from now. It is too bad that collecting coins has become more about flipping coins. The way the Kennedy coin was handled in Chicago turned me off to almost all new stuff. Sticking to the old coins for now.

 

I agree with your last two sentences wholeheartedly. It was an embarrassment to our entire hobby. I was there and witnessed what greed can do when left unchecked and uncontrolled. I have boycotted Silvertowne as well, since they were the catalyst that started the whole fiasco.

 

I was there also, and watched in awe.

What a disaster.

 

look at the section that you are posting into.
That should be a hint.
bullion is bullion
with some (small) exceptions

 

No demand besides the initial hype. Unlike the fractional buffalo's from 2008, those things still carry a heavy premium.

 

What's so special about it? It looks like the other Buffaloes except this one is reverse proof.

 

Look at the mintages. The RP mintage was high compared to the reg 2013 Proof. The 2013 is actually below the mintage of the 2008 which still has about a $3300 asking price in OGP.

 

Here is mine resting below his friend the 2009 UHR double eagle. I love both coins and could not care about the current value, or the mintage numbers at all. It is special to me because I like the look of the thing.

 

You're talking about the huge markup ?

 

You could have sold it to a dealer for a lot more than that... the reverse proof is something even though it had double the mintage of the 2013 regular proof strike. It was a first year design for the reverse proof for the 50th anniversary... its the only year they are doing it... IMO grab both hang onto them for a long time. You could've got $2200 out of that reverse buffalo at the right dealer... at least over $2k. The regular proof 2013 is going to be a hit and miss in the long run... it could perform along with the reverse proof or exceed its value maybe... Its mintage isn't that low compared to true rare coins... and the demand for the reverse is a lot stronger. IMO the reverse in 5-10 years... will be along the lines of the 2009HR St. Gaudens... or even the 2008w buffalo $50.

 

The coins are now selling for the $1,700's for MS70s on Ebay if anybody is interested. MS69's and raws about $100 and $150 cheaper.

 

McBlzr, can you tell the difference between the normal and Ultra Cameo versions of the Reverse Proof ? I love my coin but the blackness of the devices is nowhere near what is appeared in the photos on the Net.

 

More the way the distribution was handled. The regular collector was blocked out from purchasing. Not only did Silvertown bus people in and pay them to stand in line, the very first coin went to a friend of Silvertown's owner for moon money, trying to escalate the secondary's market value. The U.S. Mint shut down the sales of the Kennedy gold coin early, to prevent further bad publicity and ill feelings.

 

Cmart, did you buy yours online or at a place ? I ask because I wonder if the coin appears as it is as opposed to the picture above. Mine is a very nice coin but the contrast between the device and fields is not as pronounced as what I saw on Ebay, depending on the lighting.

Mine is a regular RP Buffalo, not an ultra cameo. Wonder how they both look side-by-side.

 

(1) Which is the "only year they are doing it" ? Not sure which coin and year you are referencing.

(2) I think these coins hold a modest premium tied to gold.

(3) I do NOT think this compares to the 2009 UHR as that coin was a 1-timer and these RPs seem to have a multi-year run.