2010 Gold BUffalo 1oz Pre-Sale on Apmex

I was looking at the Apmex site over lunch and noticed a pre-Sale for the 2010 BUffalo.

At this post it's selling for $1,215.85. ($50 over spot)

I'm going to grab a few ...anyone else?


http://www.apmex.com/Product/57934/2010_1_oz_Gold_Buffalo_Coins__May_7th_.aspx

 

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Good catch. Mighty risky buying this soon for my tastes, since the Mint hasn't even announced a sale date yet for bullion nor proof versions, only saying that they will be producing the Proofs this year and you're talking about ordering the bullion versions. Gold could do just about anything before Apmex can make delivery* on your order. I'd rather wait until the Mint at least announces they are available to the approved bullion buyers... but if you wait, Elaine1970 might buy them all. Them's the risks.

*yes, I know they state May 7th, but this could potentially change.

 

Sure gold could do just about anything before they ship but that's not really a concern. You lock in the price when you purchase; not when they ship. Besides, obviously you can't time the gold market ..but I need to buy while I have the funds ...lol.

 

This is a not a bad deal for this coin assuming the POG isn't a consideration. These should also be sealed in the mint plastic which is a bonus.

IMO, gold is going to continue to go up so even if there is a dip, this won't be a big deal in the long run.

 

Why would APMEX want to run this risk unless they had reason to believe that gold was stable or might drop? I remember in December they were preselling 2010 Eagles and look what happend to gold earlier this year.

 

Some folks here on CT bought 2010 ASEs early then the price of silver dropped and they expressed their consternation about it, but then silver went back up since then.

 

you guys wrong. apmex is correct to start selling them. cause the mint announced May is the schedule to deliver AGB bullion one ounce gold to the dealers. the proof version should be available around October this year. same as last year.

thanks krispy for the warning signal.

 

2010 bullion american buffalo unc one ounce gold is now available at apmex. $49.95 over spot if you buy 20 and above. and $59.95 over spot for less than 20 pc. 2009 is $79.95 over spot. 2006 and 2008 is $99.95 over spot and 2007 is $109.95 over spot.

 

* "available" for pre-order, delivery scheduled for May 7th and thereafter.

How many 2010 AGB did Elaine pre-order?

 

krispy. it looks like 2010 bullion buffalo mintage might be higher than 2009. i am waiting the proof version. because it might have a maximum limit on that. and i like the box and you.

 

Can you please link to the Mint announcement regarding release in May?

Should be available around October is a huge guess based on the month they announced the release of the 2009 last year, nothing has yet been announced. If it has, please link to the story.

The Proof AGBs could be announced at any time throughout the year since it has already been indicated on the US Mint web site earlier this year that the 2010 Proof AGB will be offered.

 

http://news.coinupdate.com/american-gold-buffalo-sales-begin-0251/

 

http://coinupdate.com/

 

Available quantities of bullion coins may be greater this year if the Mint found the proper inventory of blanks, began minting early and consistently. Due to less demand on gold bullion this year they could potentially devote more gold bullion blanks to AGBs than just AGEs. I think there will be less demand this year as many individual buyers are likely positioned in physical after last year. I see more pressure for silver bullion this year. I see no reason why the final bullion AGB mintage will be drastically different that last year to drive a collector to pay a numismatic premium for the bullion especially, if as you say, Proof could have a maximum mintage limit imposed. Proofs also don't usually do that well in the long run and the numismatic premium comes down.

I'm doubtful that the limit for the 2010 proof AGB would be less than 50,000. How many proofs do you plan to buy?

Boxes do nothing for me but sugar coat the contents, cramp storage and potentially cause coins toning issues over time.

 

last year proof limit is 50,000. bullion 200,000. unlike AGE bullion unc one ounce with over 1.3 million mintage. it is easier for buffalo to pass 200,000 krispy dear.

if i sell my stock that went up 700%. i will buy a lot of proof buffalo. and may one or two set of 2010 4 pc platinum proof. this one should be more or less around 1,000 set.

 

Thank you for the link! CoinUpdate are notoriously bad at sending email newsletter updates on time for their published stories. I have still not received this latest one from them.

While that link doesn't reproduce the 'memo' sent to the authorized bullion dealers, it only say's the Mint will begin accepting orders on 4/29/2010 and does not provide a date for delivery nor mention anything about May.

Apmex began accepting pre-sale orders for the bullion AGB coins on 4/26 and estimates delivery from 5/7 onward for coins they couldn't even yet have ordered.

 

Elaine dear, I'm sure you bought many 2009 proof gold AGB because there was not an ordering limit but you should also have read that there was not a maximum mintage for the Proof 2009 AGB.

2009 American Buffalo Gold Proof Coin -MintNewsBlog.com [10/29/2009]





Maybe you should start a thread on your stock picks so we can verify that you actually have some basis for these claims otherwise it's just talk. Boasting about holding onto stocks that have experienced a 700% change in value is holding a huge risk. That percentage in value change is only dependent on what you bought, when you bought, how many shares you bought and hold and what value you will realize when you finally sell them. By the time you do sell them you may not be able to buy as much as you dream about. Why not sell some of those shares and pre-order these coins that you hype so much? But do buy that camera you mentioned was forthcoming first so we can see photos as soon as you get your 2010 buffalos in. I am still waiting to see your amazingly huge inventory.

 

But these are not interchangeable. Different weight and pure gold vs crown gold. To switch from one to the other would require a significant amount of re-manufacturing of the blanks. I would assume they have to work with their gold planchet suppliers well in advance of the actual coining process in order to secure a supply for the following year.

 

Of course you're explicitly right about that, but that's not actually what I was driving at topic wise in my earlier reply.

While this is a 'bullion investing' forum, Elaine creates many threads here that take no respect for the differences of bullion verse numismatic coins with precious metal composition, thus co-mingling the discussion of numismatic collectible coins to that of pure investment bullion coins. There are those collectors who will collect bullion coin issues and there will be those collectors who purchase bullion versions in lieu of numismatic versions who otherwise would not, especially since last year the Mint did not release a number of collector versions of those coins. Due to this Elaine has been pushing mintage figures in the bullion realm in an attempt to suggest numismatic premiums can be set on bullion issued coins as is her want to do with statistics and generalized data especially as soon as there's any whiff of news about a new coin about to hit the market. She speculates, but does she also adhere to her own advice and actually take possession of said coins... the verdict is still out on this.

It gets rather hairy in this regard having to constantly separate the two: bullion from numismatic, in a forum supposedly already separated from collectible coin topics for the discussion of bullion for investment.

What I had meant to imply was that investor demand for bullion gold may be down this year over last for AGEs and that perhaps due to familiarity of the AGE series (23 years running) to that of the AGB series (4 years running), that less investor demand for AGEs may offer more production time and staff to be employed for minting other coins. I fell that investors are less eager to scoop up AGBs than AGEs due to series familiarity and this year there could be less demand due to prior investor positioning steps taken. After last years collector disappointment over certain coins not being issued, a pre-disposition by the Mint to acquire more blanks for the Buffalos to mint enough of those coins earlier in the year and satisfy collector demand is certainly a possibility, even though the number of Proofs sold was less than might have been expected with no ordering limits. Investor demand in AGBs seems to be changing and interest growing as the series itself ages and so we see/saw more bullion AGBs sold. However, the collector base for AGB coins compared to that of the AGE coins remains a factor. That is, never minding the differences of metal composition and production logistics involved in minting one over the other in terms of the collector. Similarly, the amount of investors and collectors who are likely greater in number this year but who are already positioned in physical gold, be it 22k or 24k coins, compared to last year, gives me the impression of less demand for gold coins overall. In this sense I felt the Mint will have to work harder to find and convince buyers, be they bullion investors, coin collectors or some mixture of both in order for sales to perform as briskly as they did last year.

In short, I disagree with Elaine's mintage reasoning stated earlier because mintage will only be determined sometime in early 2011 based on actual sales figures and as I believe demand will be less this year, therefore mintage figures will not exceed last year's as Elaine's prediction above states. In this scenario she might have a prediction for what these coins will do with lower mintage figures and any ensuing numismatic premiums to follow once they stop minting them and the mint sells out their inventory to the bullion dealers, a concern nearly a year away during which time PMs and the Mint could do just about anything to upset all this premature speculation based on prior years factors.

 

I would have assumed that "familiarity" is the very reason that people would stick to AGEs because that familiarity means they can be sold very easily. The AGB isn't a replacement for an AGE as the AGB was meant to appeal to a different sort of buyer, e.g. the buyer looking to purchase a "premium" coin made of pure gold. The Canadian mint had carved out a niche in this market with the Maple and the US Mint decided to get into the action. Plus, the coin itself is a great piece of Americanna with the Buffalo on it. They really are two different markets, maybe complimentary, but not a one for one replacement.

I do agree that one need to be careful to distinguish between the bullion version of these coins vs the proof and unc W versions. Personally I think the reason the mint canceled the eagle proof last year is that it simply got caught unprepared for the demand for it's PM coins and had to scramble to catch up. Ironically the bullion version of the buffalo carries a slight numismatic value over the eagle because of the factors I listed above.

I have not seen the mintage figures for gold coins this year, but I would be surprised if demand falls from 2009. If anything, demand should be going up due to the events of the world, and the fact the global finance system continues to sling mud all over itself in the eyes of the people.