Buffalo $50 Gold Coin

I tend to agree that silver has more appreciation potential than gold, but if silver rises, so will gold. Your warning doesn't make sense. It always comes down to what you pay for what you get. A $50 buffalo selling slightly over the spot price of gold is not a bad deal. The proof might be overpriced by $100 or so, as has been pointed out above, but will look cheap if gold goes to $1K. If silver rises more than gold, gold buyers have lost nothing. There is always something somewhere appreciating faster than everything you own. This is not important. It's a pretty safe bet that gold isn't going back to $300 and silver isn't going back to $4 where they were a few years ago.

 

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Historically you could buy buy 1 ounce of Gold for 20 ounces of Silver. Probably it will return to that! Since the 1400's you could also get a FINE man's suit of clothing for one ounce of Gold so even today if you spend less, people will probably know. Some things never ( I do not like to use that word never ) change.

 

How True!

 

Im looking at possibly buying two buffalos, i have looked through the various pages of this thread and i ned opinions. I WILL buy the $800 proof from the mint but as a second coin, should i buy the First strike ($800?), First day of issue ($1300) or the bullion ms-69 or 70 ($675-800) . I guess the only difference between the first strike and the ms-70 is that the graders will praise the "first strike" detail-- which looks probaly the exact same as the ms- 70--Please help, thanks

 

i'd go 2006 1 oz proof eagle if I was you (go to ebay if you must)

 

:high5:thanks!


but i might want two buffalos, should i buy two proofs or a proof and somehing else?

 

Mintage of the Buffalo

On the Bullion and proofs of gold bullion silver and Platinum, The U.S. Mint show the coins as

1. Mintage limit
2. Product limit
3. Total sales units

This is by coins of 2005 and back. Most gold does not reach the product limit but some silver does. The total sales units are lower in the gold by a noticeable margin. What is the actual amount of coins sent out the door
, Total sales units by coin ?

Be well
Floyd

 

Buffalo Gold

Hi ! ND86,

I appreciate your up-date on the sale of the 24 K Gold Buffs. Seems to me that if the sales do not hit 300,000. by years end, the remainder may be melted down (by the Mint) for newer coins. In either case, whether they sale them all or melt them down, my purchase was to only add to my personal collection, and my hopes are that someday they will be valued as a key coin for future collectors.

Best regards,

Dave - Mojavedave1@msn.com

 

seriously, will silver ever be worth more than gold?:headbang:

 

I would be inclined to get one proof and one MS69, but not pay up for a first strike, first day of issue, or any of that other nonsense. The long term added value is questionable. I also don't think many people can tell the difference between a 69 and a 70 [if there is any], so I can't understand why anyone would pay for something they can't see. This is marketing, not numismatics.

The MS and proof coins will be different and add variety to your collection, but it's completely a matter of taste as to what you want to buy so don't read too much into my opinion.

Regarding your other question about gold and silver -- it is a very low probability bet that silver will ever be worth more than gold. Even most of the historical ratios comparing silver to gold are pretty close to useless. I personally think silver and silver coins will appreciate more than gold in the future, but this has to do with supply and demand factors and not historical relationships.

 

Slim to no chance I would guess. Years ago I read that all the gold on earth could fit into a 850 meter cube.

 

alright, awesome. i have limited spending money for collecting, for now i can only buy the proof BUT in september, i can get the ms-69. how much would the price increase? should i go a little under to get the ms69 AND proof, and hope nothing goes wrong until september?

and on silver, my friend who is the annoyingly vibrant politician type says that the price of silver will skyrocket because the silver near the surface is becoming elusive. Is that a reasonable statment? does it make sense?

Sorry for all the questions:kewl:

 

If you're asking me to predict the price of gold in September, I can't. Ten years from now I expect it to be a lot higher than today. If you have limited money to spend on collecting, I would suggest sticking to that budget and not "go under" to buy more than you can afford. There is no sound reason to believe coin prices will rise dramatically over the next two months.

Regarding silver, I've read that the US Geological Survey has indicated that the world-wide supply of unmined silver is declining faster than any other metal, and that most of the silver that is economical to mine may be gone in 40 years; but I haven't seen the report myself first hand. There are very few primary silver mines left. Most silver is a byproduct of other mining operations. I agree with your friend that over the next few decades, the price of silver will rise, perhaps dramatically. I don't know if it will "skyrocket" which implies a huge rise over a very short time period.

 

It sounds to me that silver wont skyrocket either, especially in a 40 year timespan, but still, at only $11 an ounce, really any increase over a dollar for silver is dramatic.

im thinking of selling him some silver bullion"coins" (no dates, just .999 fine silver) so i can get the extra little bit of money i need for two buffalos...

Thanks!

 

Hi ! ND86,

You are up on me on the ASE 20th Anniversary set. What's the low down on when it will be available and will it be in silver and gold ?

Dave - Mojavedave1@msn.com

 

Gold ^

With oil at all time highs, gold has retraced half way back to the previous high and a man Steven Loeb told us ten years ago oil would be over fifty dollars and would not come down until we came up with an anti dependence drug. I knew it would not stay at $10 but fifty ? I have not seen much of him since his monthly letter projected such wild ideas. An 800.00 1oz proof buffallo looks not that far away from being repriced again. I bought one because , well I like gold coins and had never used them for anything but a hedge and I like art. They give me pleasure and piece of mind.
The middle east has had a blow torch put to it and all bets are off over Iran, and North Korea. This is just about as much uncertainity as I have seen in my life (66) . Paper burns, gold does not.

Be well
Floyd

 

Didn't Stephen Leob publish a newsletter in the 1990s that recommended tech stocks? I believe it was discontinued when his recommendations imploded in 2000 and his subscribers were't very happy.

 

I ordered one from the mint then cancelled it after buying a graded one.

 

Yes

Same man , many missed that the whole market was a float. It was Tulips all over again. He was dead on about oil but it came at a time when all were losing big. I remember I had a holding in GE , MRK ,CL,HDI. MHS,CVX,and afew others. All were sawed in two. What some missed, the run up with say 50k could take you up to 500k if you did your work. Lose half and you were still ok. The problem is in two years you got 6 or seven years of profits. The markets have really not moved since then and 9/11 and the rest. The division of assets are essential because if half pull one sits and one goes down you make a positive return if you work at it.I use Gold, common stock and realestate and cash to make my portfolio. I never expected two things, gold to go up 100% in a relatively short time, stocks to be a dart board game, the lid on realestate to come off and the best return I can get on Brokerage account money market is near 4%. The balance has worked, but wars come, OPEC is a Mafia and people who are zelots and hid behind legitmate religion are seeking nuclear weapons to use, not to deture .All that and we stand, but hard currency seems to be very much in vouge as a hedge. I hear of auctions in big numbers of top end coins ( A la Doug ) bring premium numbers.

Hard getting off this box !
Floyd

 

To answer my own question, I think I was thinking of Stephen Leeb.