Hi everyone! Hope you enjoy the good weather today! Anyway, I am considering the following two options: either to buy the 2012 gold buffalo currently at 1960 from the US Mint and send it for grading to NGC in hope to get PF70 or to buy the already NGC slabbed PF70 that is now from ModernCoinMart? Your take on the two options please? Thanks!
NOt trying to be a jerk, but why do you want MS70 bullion? Are you collecting a set? Having a gold buffalo in mint packaging is enough to verify its authentic, so authenticity cannot be an issue. I am simply asking since when its time to sell I doubt you would get this premium back. On a more helpful note, , I woudl say your odds are 50/50 between 69 and 70. What would be critical to know is if you believe if you submitted one and got a 69 do you think you could sell if for the price you paid the mint? If you can, then I would buy and submit, if you can't it may be cheaper to buy the 70.
No, I wouldn't call you a jerk. No, I do NOT want MS70 Gold Buffalo bullion. I want the 2012 NGC PF70 Gold Buffalo Proof. Yes, I am a collector of the NGC PF70 Gold Buffalo Proof set.
Ok, I still say its 50/50, but if you believe the key is whether you believe you could flip a 69 and recoup your cost. If you are unsure or do not think so, I would say buy the 70 if you think that is the best price you will find.
If that's what you collect then go for it. I can understand that. The premium above mint issue is not a consequence in this. You are a collector of '70 Buffaloes, and as such, it's a must have for you. My advice (trivial as it is) would be to purchase the coin already graded and not to navigate the uncharted and unknown waters of the TPG's. You may wind up disappointed with the results of a submission.....
Ok, based on the three opinion above and my inclination to not be bothered with shipping/insurance and a risk of not getting a PF70, I've decided to opt for the already slabbed one. Thanks guys!
I always buy the Proof Buffalos from the US Mint each year, but I holding off right now since the mint price is $300 above the spot price of gold.
It seems like they update the price on Wednesdays. With the drop in gold price you may get it lower cost next week. They were down to about $1900 or less a while back.
