Buffalo $50 Gold Coin

Right on Cloudsweeper99, I agree with your line of thought, although I would like to add that anyone concerned about the price of gold, should be looking for bullion. The price of a $800.00 proof coin is not something you hold onto for a quick turnover.

Dave - Mojavedave1@msn.com

 

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The price is just to high to support a collector base.

 

That would mean not many would buy it hence only a small number would be in the market as the unsold would be melted. Shouldn't that increase the value? or since its too expensive no one would be interested even in the future?

 

Do they have a set time frame they have to sell these?

 

I would think its till the end of 2006

 

I happen to believe that a response to the nay-sayers to the Proof Buffalo coin and it's potential worth may be in the fact that the Mint has taken the necessary step to make this one of a kind coins. The fact that the coin will have Fraser's original 1913 design for the surface texture repeated only on the 'proof' coin, makes it a potential winning purchase. No other coin will have the rough surface texture in the fields around the Indian head and Bisson devices. This in itself makes it appealling to a larger collecting population in that it will be required for completing any series of collections that are for finish and appearance.
Yep! It could turn out to be another coin like the 1995W ASE.:thumb:

 

Honestly, the use of terms like first strike (up to Jan 31st) and * and also 1 of 1st 1,000 struck or whatever by NGC is quite disappointing to me. I find it disturbing that such a significant amount of brand new coins are flowing into grading service for the specific purpose of obtaining a special designation used solely for marketing purposes. Grading/authentication is transforming into Marketing/labeling and the fear should be that eventually even the top tier services will erode every bit of credibility they have over this.

 

Collectors are now spending well over $800.00 for a $20.00 EF Saint-Gaudens.
I see no contest compared to a Proof $50.00 99.99% pure gold coin for less money.

Dave - Mojavedave1@msn.com

 

Mine came in the mail today from AMPEX. I bought it primarily as an inflation hedge, but I've also ordered a proof from the US Mint. I'm cautiously optimistic that the proofs might see some appreciation due to the public's undying love for the indian head design... look at where the Indian Head dollar commemorative is at these days.

 

"The Mint probably thinks that it will be as big of a success as the Buffalo Commems, but at $875 I won't be buying it."

The Unc version should be selling (gold @ $590) with a 5-6 % premium. About $630-$650.

EVERYBODY wants one NOW. Initial demand is driving the price to nuts levels.

As for those .who complain about re-using obsolete coin designs.............
Are you kidding me??? Kidding Me??????

Our circulating coinage has been LAME for more than 60 years. The Treasury has been unable to come up with a fresh and/or inspiring coin design. I actually think 90% plus State Quarter designs are a disgrace to our coinage. I have a mixed feeling on the 5 cent program. I know the "OTHER" gold program will fail, as will the "dollar" program.

 

Got the Proof already

:thumb: Got my Gold buffalo proof today. Coin looks great. Great service by the Mint.

 

mine's on truck ,the mint said ship july 7th?

 

Should be FedEx shipping on this item. Login to the Mint site and check your order status. You will probably get it today or tomorrow. Let me know what you think when you get it. Thanks.

 

Hi ! Flyers10

Are you sure you got a proof coin? My order states that proof coins will not be availabe until July 17, 2006.

Dave -Mojavedave1@msn.com

 

got my proof today and yes it is the proof. log on to the mint web sight? i keep getting a message that they are down for repairs.

 

Hi Dave-
Yup...It's the Proof alright. Beautiful coin. I ordered the Uncirculated Buffalo from:
http://www.apmex.com a little over a week ago. I paid with a check so I could get the 3 percent discount. Only problem is they wait 2 weeks after receiving the check to send it out. My uncirculated coin is suppose to ship out on July 6. Gold has gone up like $50.00 since I ordered mine so I am at the break even point right now with Gold at about $615.00 (paid $615 total with shipping and the discount). Doesn't really matter much any way. I plan on holding these coins long term.
Have a great weekend.

 

I received my proof today also. I 'm not too impressed with the background. I guess I was expecting too much. But it will look good with the proof and unc. set of dollars.

 

Old Dan,

You almost have me convinced to buy one. But I have a couple of questions. Is the Proof Buffalo coins going to be a one year issue or the first of a series, like the AGEs? I read the info from the Mint and they called it the "inagural" issue which makes it sound like it will be an ongoing series. Second, is 300,000 really a small enough mintage to make it possible for a price rise like the 1995W ASE? Many of the AGE proofs have a mintage of about 50k or less and they haven't appreciated much.

Thanks.

 

According to coinworld, mint is allowed to mint the buffalo for a year but since it only started in mid 2006 mint is allowed to have 2007 buffalo till the end of 2007. So maybe it'll be 2 years, and I believe there's talk on different denominations next year.

 

proof vs unc

if you bought unc version of 50.00 gold buffalo. then you gain some 10% today. but proof version. no way jose.