2005 Buffalo Nickel Question(s)

I am somewhat baffled by the popularity of this Nickel on eBay. Even though the mint is still offering the sets of Nickels, some are paying over twice what they would pay, if they ordered them from the mint. Which leads to my questions:

1. When do you think the mint will quit issuing the Buffalo rolls to the public?

2. If they are going for around 20.00 now, what will the two Mint set of Buffalo nickels go for 3 months, 6 months and a year from now...and I understand that this is only speculation...and finally...

3. Is this just hysteria over this nickel, or will the limited production of this beautiful coin make it a great investment for many years to come.

This board is very interesting and thanks in advance for your time in response...but above all,

peace,
jay

 

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i know the first one, it will end in fall when the ugly version nickel will come out, People dont know about the mint, which is why the mint has taken drastic steps to publictize (sp) their site with commercials and what not

 

The other issues is the mint has them on back order, and people don't want to wait, they want them now, so many are willing to pay a premium...

I ordered 4 rolls from the mint a month and a half ago, I'm still waiting for them....

will it be a great investment? Doubtful, but who knows, don't miss out on the 2005 Silver proof set, that one may one day provide a good return.

I think its at the point of buying as atleast 5 proof sets and mint sets and waiting....It seems to me the worse that can happened is you sell them for what you paid or maybe a slight slight loss, yet you put yourself in a position to gain...

 

I'll tell you this, I have searched many many rolls that I have purchased at the bank...and though I simply adore the new design, from a grading standpoint the quality is horrendous!

I believe that high grade specimens are going to be rather scarce however, it remains to be seen what kind of quality we will find in the mint sets...

The fact that there is a 'speared Bison' error to search for will probably always give the D mint rolls a bump in price.....

 

Well GDJMSP I must agree with you and your very valid points. I think we will see prices rise and fall and rise and fall in an effort to get private collectors, who are hoarding them away, to put them back on the market. Eventually, when they all reach the hands of the hoarders and collectors, they will be GONE and it will take a constant demand to bring prices up to a sell level. After enough of them are returned to dealers the price will come back down. I believe this cycle will repeat itself many times over due to the limited production.
Now for those of you who want to know how long they will be made. The buffalo nickel will be sent to the Federal Reserve for up to 6 months or when ever the Mint starts making the next commemorative nickel which should be in late June or early July so they will be ready for the release date. If the Mint holds to the same offer as last year they will be able to continue to make and sell buffalo nickels to collectors directly through Mint purchase for 9 months. That means by the end of Sept. this nickel is gone for ever. Will they really ever be worth something? That would be according to each of our definitions of "worth". The 2004 P Peace Nickel is currently being sold at the $14 to $16 level? Are they now "worth" something? Each and every one of us who purchases any coin, not just these buffalo nickels, with the intention of selling it/them some day must make up our mind what the magic number is that would bring us to sell or put them back on the market! Then YOU must stick to that number, whether it be $10, $15 or $20 per roll. The same would hold true for proofs or singles. Pick your price and wait it out! If your sell price is not reached when you had hoped then you again must make a decision to hold or sell at current levels. One must always keep in mind that there are really a LOT of buffalos in hiding in uncirculated condition so pick your sell price and live with it. No more than we have invested in these coins I would think it would be something to hold for quite a long time. Just wish my grandparents would have held on to a small hoard of buffalo nickel rolls from 1910 to 1920 and then of course passed them down to their grandchildren, preferable ME, as 90 years has sure done those coins justice! Hopefully anything I put back for my little one will be worth holding 50 years from now and hopefully I will have him convinced to HOLD for as long as he can! Enjoy this new nickel and this fantastic hobby we call coin collecting!

 

well i got my first circulated buffalo nickel today from a roll and Im happy

 

Spider if that nickel just came out of a roll I don't believe that would make it a circulated nickel as it has never been in circulation. You still have an unc. my friend!

 

its wasnt outta a complete buffalo roll, a mixed roll, but maybe ur right

 

I spoke with a couple of dealers in my hometown because I wanted to put some of these nickels away for my two young grandsons. They both told a different version of the same thing:
1. The first who has been in coins for well over 30 years said that he feels that the nickel won't hold up in circulation. When I asked him what he meant, he said that he felt that the nickel would wear down quickly and that the uncirculated nickels would attain value quickly.

2. The second dealer told me that he thought that the nickel was very sharp and he said he wouldn't be surprised if someone actually cut themselves on one of them. Then he laughed and said that they could sue the mint and the mint would discontinue the run.

Don't have a clue with the validity of these statements, just thought it wan an interesting add to this thread

JD

 

I disagree, a coin in circulation is circulated by definition, even though it may grade Mint State....

 

yes i agree with u Lucy (i think thats ur name)
u must directly buy from the mint for UNC, and nickel shipped for circulation becomes circulated automatically, once it touches a hand meant for spending BOOM!!! circulated, come on GD im ready for u bring it

 

I am afraid GDJMSP is correct on this one. Lets say the cashier just busted that roll of nickels open into her drawer. It is still a new, never circulated piece, and if you handled it correctly it still will NOT have fingerprints on it. If you want a circulated coin put it in your pocket and carry it with your other change for a few weeks and then there will be no doubt about what it is. Until it shows signs of wear it is uncirculated and still a mint state coin! QueenCoin you would probably be shocked at how many uncs. you currently own (modern coins) that left the mint and then the Federal Reserve that are uncs! And remember coins are now shipped out of the Mint in HUGE bags that can hold literally millions of coins and they are all shifting around during transit. Then the Federal Reserve or an armored car service get a hold of them and dump them in to counters or wrapping machines, then boxed and shipped again but they actually still haven't been circulated so cracking a roll into a cash register doesn't warrant a coin being circulated. Wear, dirt, grease and grime does!

 

I still disagree, even in the above scenerio they entered circulation and they got handled therefore they are circulated, though they are still Mint State....

a cash register does indeed warrant circulation just as a change machine would, the coin now becomes part of commerce.

Wear, dirt, grease amd grime are the next stages of circulation.

But I know Mint State coins ms65 can be found in circulation...

Take GDJMSP for example, how long has that cat been in circulation? Yet I grade him Ultra GEM MS67FM+ and probably a MS68!

 

Even more hoarded than the 64 Kennedy halves?

Wow, that IS saying something!

 

I got 4 rolls from bank that had a circular mark around the end coins, my guess is a counter, would that still be unc, just a lower grade?

 

Yes, the counting machine can and will mark up the end coins in a roll and leave them very undesirable. I always look at those coins as "protecting" the other good ones in the roll! Takes the sting out of it!