Buffalo $50 Gold Coin

I wonder how many of these are left for sale from the Mint.

 

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Guess I shouldn't of purchased the American Eagle Silver Proof One Ounce coin for $27.95 plus $4.95 for shipping for a total of $32.90. Silver at about $11.30 at the time of this post. I am out more than 60 percent!:headbang:

 

Double post. Sorry!

 

Proof Buffalo

Right you are Hi Flyer. I got mine today via FedEx. I was really surprised since the mint message said they would not ship until July 17th.
In any case, in my opinion, the coins are Beauiful. Now that I have seen them, they are going into my safty deposit box at the bank. But first I am going to scan everything, billing, boxes and coins for insurance purposes. I am not sure if Insurance will cover the actual coin value of $ 50.00 or the $ 800.00 paid value or current market of gold or the estimated PCGS coin value. What do you think?

Dave - Mojavedave1@msn.com

 

Hi Dave-
Glad you got your Proof in today. Really a great looking coin. Do you mind me asking how much your bank charges per month for a safe deposit box. I just checked with my bank and the min charge is $45/month. At that price I think I will continue to store them in my safe at home.

On the insurance for the Buffalo Gold coin I would think it would at least be the price you bought the coin. Might want to give your insurance agent a call to see what they say. Have a great 4th!

 

If you need immediate daily price feedback to justify the decision to own a coin, you are correct that proof coins should never be purchased. But if you check back a few years, you will notice that gold proof coins have not lagged behind the bullion coins. It's just a different market. Everything is always a matter of what you pay vs what you get.

 

Where did you buy the uncirculated gold buffalo???

 

i don't think that is right, that should be for the year.my bank charges from $30 -$60 depending on the size of the box.

 

I got a very nice box at Charter Oak Federal Credit Union for $35 a year. I can fit everything I want in it and there is still room for more.

 

Hi ! Flyers10.

I would tell you if I knew. However, we are lucky enough to have an account that allows free excess to a large safe deposit box. You might just inquire at your local banks and see if they can't give you a deal if you open an account with them. I also have a home safe, but I figure that is the first thing that a burgler would find.

Dave - Mojavedave1@msn.com

 

I notice that the proof $50 buffalo is now "backordered" if you try to buy it from the mint website. I presume this isn't the same as saying the full 300,000 mintage has been ordered already. What does "backordered' mean in terms of waiting time and availability?

 

Thanks for everyones reply on the safe deposit question. I didn't get to talk to a local Bank of America branch yet. I assumed it was $45 per month. Maybe she meant $45 a year. I will go see them in person to see what they say.

Dave sounds like you are dealing with a good bank. Hopefully I can swing a deal like that.

ljkvette:
I bought my Uncirculated Gold Buffalo at http://www.apmex.com. Hope this helps.

Have a great 4th all.

 

I pay $45 per year for my safety deposit box at Bank of America, so \you should be ok!

Thanks for the help!:hail:

 

Thanks...for $45 per year I will be getting one. Thanks again.

 

Just takes a little more time. Indicates that it is a good seller

 

Okay, thanks. I was hoping this would be an unpopular coin, making the proof relatively scarce. But maybe it will be more plentiful than the AGE proofs, which won't help the price appreciation in the future.

 

this is from the mint web site
In order to ensure the broadest and most fair access to United States Mint products, a limit of 10 units per order and per household is in effect. Accordingly, all orders for American Buffalo Gold Proof One Ounce Coins will go immediately into a backorder status to ensure compliance with this policy. This quality assurance process should not impact the estimated delivery time. The United States Mint may reevaluate this limit and either adjust or remove it at any time.

 

According to coin world, within the first day or two the mint sold 74,000 buffalo proof coins.

 

If proof sales get to 200k that would seem to knock much of the scarcity value out of the coin.

 

Gold is over priced compared to Silver, buyer beware in the coming years. History repeats Its self.