So the US Mint has sold out of the collectors version Proof 2009-W American Gold Buffalo coins and as of today the AGB page on the US Mint website currently reads: Keep your ear to the ground because the heard shall again return this year...
Maybe. There were several times last year that the mint announced the the 2009-W proof gold and silver eagles and the 2009-W unc silver eagle were going to be coming later in the year only to eventually be junked. You can't be SURE they will be offered until they actually go on sale.
Quite true! Although, garnering attention and support by online communities, awareness and constant check-ups with the Mint to urge them to produce these coins should be encouraged to help our hobby along. Likewise, signing up for the 2010 ASE subscription is a good idea to register the amount of collector enthusiasm the Mint should live up to and be willing to deliver upon for their failings in 2009.
According to Coinupdate the 2010 AGB proof will be available on June 3. This is considerably earlier in the year than the 2009 version.
Thanks for the update Fatima. Funny that the US Mint didn't update the Product Schedule or Coming Soon page, but did put the forthcoming June 3rd release date on the AGB page.
that's mean both the proof and bullion mintage will be much higher than last year. might consider pass this year buffalo.
An earlier release of the AGB this year doesn't ensure greater quantities will be sold resulting in a higher mintage. The final mintage will require more steady sales be maintained over a longer period until they stop minting (or if a limit is announced) compared to last year's mad dash for gold, and in turn a collector rush for Proof AGBs, which were released quiet late in the year, followed by brisk sales up to about January, diminishing until the Mint removed the Proof AGB a few weeks ago from its web site. Over all gold seems to be selling steadily without a lot of delay in distribution due to demand like last year. The Mint has removed the allocation limits to its bullion dealers as well. Gold this year seems to be selling but with less demand than other PMs like silver. Collectors may be more modest with purchases from the Mint and bullion investors are already positioned in gold since last year or in need of less to be balanced this year. I look for 2010 AGB mintages to be very slightly +/- last years figures when true final figures from the Mint are published sometime in early 2011. Until then mintage speculation is prone to change for any number of reasons: mintage limits, household limits that control purchases, POG, bullion allocation, a turn to bullion instead of collectors versions... you name it. The 2010 AGB coins haven't even released and guessing mintage now is totally premature and highly likely to disappoint if you play that game. If you want quality (TPG equivalent 69/70 grades) Proof AGB coins, buy them the first couple weeks after release.
MCM.com today announced 'in stock' NGC graded 2010 AGB unc versions: MS69 $1,299 Early Release MS69 $1,299 American Liberty Series MS69 $1,309 MS70 $1,365 Early Release MS70 $1,365 American Liberty Series MS70 $1,375 2010 AGB unc raw from APMEX $1,281.45 [5/11/2010 @ 12.14 pm] 2010 AGB unc raw from Provident Metals $1,284.65 [5/11/2010 @ 12.15 pm]
Why? The Mint says that large quantities are minted in one run, and then stored in a warehouse until released. The Mint says that the dies are replaced frequently on proofs and that there is no correlation between the date a coin is shipped, and the order in which it was minted. In other words, the last coin minted before the die is discarded might be the first coin order filled on the release day. Or do you have another reason for saying that coins ordered in the first couple weeks are superior ?
Yeah, my reasoning is that the first orders placed and fulfilled afford buyers the best chance at receiving coins unsearched from the initial large quantities minted. Buyers can look them over and return any that have defects or which they judge could potentially grade lower than a 69/70. Once they return those coins (and potentially request replacements or reorder) the chance that someone who orders their first coins weeks after release runs greater odds of receiving coins previously returned with defects or lower quality. Many people are good at spotting which coins will not grade 69/70 and so play the game of ordering early and returning 'problem' coins. Sales also taper off later on because of this. 2009 Proof AGBs were not on sale very long, releasing in Oct 2009, and there was no mintage limit so no one knew how long they had to buy and return those coins, order early, review and return anything with a problem.
I actually expect the 2010 Proof Gold Buffs to have a lower mintage this year. The proof is a collector's coin and I don't think the Mint is worried about collectors anymore. Furthermore with the price of gold going up, I think the Mint will put their gold allocations into products that are required by law (i.e., not the proof gold buff). My guess is that they will sell what they already have made and that will be it. Perhaps in the 25K range. JMO.
I also agree with Krispy...you have to order within the first couple weeks to guaranty that you don't receive a previously returned coin. I have received a few coins that were graded as 70 long after the coins went on sale at the Mint; however, I received a couple bad $20 UHRs once the household limit was increased by the Mint.
To complicate the matter, and in so having acted unexpectedly last week, the Mint may have lost some customers already on the fence over choosing to buy collector version coins from the Mint directly... The US Mint is now under scrutiny for their recent decision to not fully disclose intentions to change policy or to merely follow existing publicly published policy regarding the pricing of gold and platinum coins: US Mint Responds on Numismatic Gold Coin Pricing Policy from CoinUpdate.com 5/31/2010
