US Buffalo Canceled!

Discussion in 'Bullion Investing' started by Argento, Jul 5, 2009.

  1. elaine 1970

    elaine 1970 material girl

    maximum retail prices: (my prediction)

    2008w am buffalo gold unc:
    one ounce - $1,850.00
    half ounce - $910.00
    1/4 ounce - $580.00
    1/10 ounce-$385.00

    2008w am buffalo gold proof:
    one ounce - $2,150.00
    half ounce - $1,025.00
    1/4 ounce - $680.00
    1/10 ounce-$400.00

    2006w am eagle gold unc:
    one ounce - $1,100.00
    half ounce - $1,030.00
    1/4 ounce - $485.00
    1/10 ounce-$145.00

    2007w am eagle gold unc:
    one ounce - $1,100.00
    half ounce - $970.00
    1/4 ounce - $455.00
    1/10 ounce-$140.00

    2008w am eagle gold unc:
    one ounce - $1,100.00
    half ounce - $950.00
    1/4 ounce - $450.00
    1/10 ounce-$140.00
     
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  3. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    Elaine those 1/10 ounce, go for higher, graded or raw.
    MS70 PCGS is crazy, people are just being dumb
    I see raw ones going in the $400 market.
     
  4. elaine 1970

    elaine 1970 material girl

    yes. suppose to be the 1/4 oz. because almost same size with the old nickel. but the 1/10 oz. take lead. and for the first time i saw the one ounce gold proof and unc go up too. i hope the 1/2 oz will do the same.
     
  5. jaceravone

    jaceravone Member

    This was taken from Mintnewsblog.com on May 21st, 2009

    The US Mint added a new notification to the product catalog page for the American Buffalo Gold Coins. This joins similar notifications that had previously been posted for the 2009 Gold Eagle and 2009 Silver Eagle product pages.

    The notification is as follows:
    Production of United States Mint 2009 American Buffalo Gold Proof Coins has been delayed because of the limited availability of 24-karat gold blanks. The 2009 American Buffalo one-ounce Gold Proof Coin is scheduled to go on sale in the second half of the 2009 calendar year after an acceptable inventory of 24-karat gold blanks can be acquired. The release date, once established, will be posted to the 2009 Scheduled Products Listing.

    As a result of the numismatic product portfolio analysis conducted last fall, beginning in 2009, American Buffalo Gold Proof fractional coins and the four-coin set are no longer available. Additionally, the United States Mint will no longer offer American Buffalo Gold Uncirculated Coins. This is not the same as the "bullion" buffalo (no W)

    The notification doesn't provide much in the way of new information. The delay had been presumed following the similar announcements for the collectible Gold and Silver Eagle coins. Additionally, the US Mint has not even produced the regular bullion version of the American Gold Buffalo for 2009.

    The discontinuation of all but one option for the collectible Gold Buffalo coins had been announced previously, late last year. In 2008, the US Mint had offered a total of twelve products which incorporated the Gold Buffalo. This included 1 oz, 1/2 oz, 1/4 oz, 1/10 oz individual coins in uncirculated or proof, 4 coin sets in uncirculated or proof, the 2008 American Buffalo Celebration Coin, and the 08-08-08 Double Prosperity Set. For 2009, the single coin to be offered will be the 1 oz Proof 2009 Gold Buffalo.

    Ok guys, everyone makes very valid points. Like T$ said, the fact that the mint was not going to produce any proof fractional buffs and no "W" buffs was made clear very early in the year. But what was never made clear and I have to agree with Argento here is whether or not the mint was going to release the "bullion" version. I follow this info just as closely as the next person and I have never seen anything conclusively where the mint said they were not going to produce the "bullion" buff. I think everyone is wanting to group the "bullion" buff under the "No W" category or the "UNC" category and this is wrong. The mint states very clearly that there are 3 classifications for these coins.... Proof, UNC, Bullion. Remember, you will not find info about the bullion versions of these coins on the mints web site because these are not sold through the usual channels. If you do see some information, it is usually very general or vague info.

    The discontinuation of all but one option for the collectible Gold Buffalo coins had been announced previously, late last year. This statement really confuses stuff in my opinion. When you buy numismatic items through the US Mint, you are buying "collector" items. The "bullion" buffalo is not a collector item...it is bullion. So although the mint announced that all but one option will be made available to collectors in 2009, I don't believe this statement is taking into account the bullion version. And this was the point that Argento was trying to make. Now, I have not seen this information about the bullion version not being offered this year, but I truly welcome that because this is getting too expensive to keep up.

    Now if anyone has a source that they can show where the mint had previously announced that they were not going to mint the bullion version, I would like to see it. Until I do, I don't believe the mint has ever announced that they were not going to make the bullion version. You can't confuse the UNC version and the bullion versions of the buffaloes. When the mint mentioned that they were discontinuing all options, I believe what they were referring to was the proof fractionals and all the W unc buffs. JMO
     
  6. krispy

    krispy krispy

    Thank you for that breakdown jaceravone! Much needed!!!And you fairly stated this too reflecting on the opponents in this debate. I too subscribe to the mintnewsblog and so had this as a source to consider while reading this tread. Cheers!
     
  7. andrew289

    andrew289 Senior Analyst

    You BELIEVE?
    It doesn't matter what you BELIEVE.

    The truth is you have no proof that what you state that is indeed a fact. You can BELIEVE all you want and it doesn't make any difference.

    The truth is that the buffalo with out the mint mark is uncirculated so that statement could very well include the bullion version.

    Cool.
     
  8. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    When the mint said they were canceling all options, I thought they meant, All Proof Fractionals, All W coins, and Bullion coins.
    They never said they were keeping the bullion coins, and said they were canceling all options.
    I am not surprised by this at all, and it wouldn't have been news to me in January of 2009, or any month in 09because it was news to me in November of 2008.
     
  9. Chiefbullsit

    Chiefbullsit CRAZY HORSE

    I am Buffalo Hunter.....nobody knows Buffalos like me....NOBODY !!!!

    I know the answer but I ain't tellin'.....:secret:
     
  10. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer


    Yeah I'm just the gatherer... LOL
    I don't know as much the hunter.. :D
     
  11. jaceravone

    jaceravone Member

    Andrew, you couldn't be more wrong.....straight from the mint.....
    "As a result of the numismatic product portfolio analysis conducted last fall, beginning in 2009, American Buffalo Gold Proof fractional coins and the four-coin set are no longer available. Additionally, the United States Mint will no longer offer American Buffalo Gold Uncirculated Coins."

    Do you see any mention of the word bullion? The bullion coins may be uncirculated, but they are not the uncirculated ones they are talking about. Check it out here too....Mint web link... http://www.usmint.gov/mint_programs/buffalo24k/

    There is clearly a difference between the three versions of the coins. The difference is that Proof and Uncirculated coins are "collectible" and the bullion ones are not considered collectible. Its all in the link below.

    Now don't freak out because this link is for the American Eagle series and not the buffalo series, but the Mint clearly outlines the three lines of coins they offer. The same goes for the buffalo series as well.
    http://www.usmint.gov/mint_programs/?action=american_eagles


    You hit it right on the head there Travis..... They never said they were keeping them.... but nowhere have they ever said they were getting rid of them either.

    If I am wrong, I will say I am wrong, but will the real Slim Shady please stand up and show me. Prove me that I am wrong. :thumb:
     
  12. krispy

    krispy krispy

    I LOVE THIS! YOU ROCK CHIEF! :hail:
     
  13. andrew289

    andrew289 Senior Analyst

    Oh Jacer, I think you have fallen and can't get up because you seem to be delusional.

    "The bullion coins may be uncirculated, but they are not the uncirculated ones they are talking about."

    This is your opinion not a fact. You don't know what the mint meant by that statement. This is only your BELIEF and it's not fact. Your BELIEF is misguided and that's clouding your judgement.


    "As a result of the numismatic product portfolio analysis conducted last fall, beginning in 2009, American Buffalo Gold Proof fractional coins and the four-coin set are no longer available. Additionally, the United States Mint will no longer offer American Buffalo Gold Uncirculated Coins."

    Do you see the mention of the word "collectible" in this quote?
    No, you don't. Therefore, it refers to ALL buffs. If the mint wanted to single out the W "collectible" coin, it would have but it didn't. Therefore, that means no uncirculated coins period ..bullion and collectible.

    Ouch. Sizzle.
     
  14. tmoneyeagles

    tmoneyeagles Indian Buffalo Gatherer

    It states they are getting rid of the W coins right there, and I think Andrew, that you and I just assumed that when they said uncirculated means W and Bullion.
    They said uncirculated versions would be gone, that made me believe that the bullion version was gone as well.

    Lets cut to the chase, this still isn't news, at least not to me or Andrew anyway, if you are shocked by this, where have you been?
    Proof Buffalo Only, that is what I heard from sales representatives, and they said the Proof one ounce coin will remain, they did not ever say, the bullion coin would remain.
     
  15. Pepperoni

    Pepperoni Senior Member

    Old posts

    We need to find a way to recycle old posts into a large corporate venture !

    Pep
     
  16. elaine 1970

    elaine 1970 material girl

    collector's version:
    american eagle gold proof (w):
    one ounce
    half ounce
    1/4 ounce
    1/10 ounce
    4 pc set
    american eagle platinum proof (w):
    one ounce
    american eagle silver proof (w):
    one ounce
    american buffalo gold proof (w):
    one ounce
    american eagle gold unc (w):
    one ounce
    american eagle silver unc (w):
    one ounce

    bullion version:
    american eagle gold unc:
    one ounce
    half ounce
    1/4 ounce
    1/10 ounce
    american eagle silver unc:
    one ounce
    american eagle platinum unc: (not sure it will produce)
    one ounce
    half ounce
    1/4 ounce
    1/10 ounce
    american buffalo gold unc: (not sure it will produce)
    one ounce
    half ounce
    1/4 ounce
    1/10 ounce

    p.s. the mint never mentioned about the bullion issues.
     
  17. jaceravone

    jaceravone Member

    Finally decided to hear it straight from the horse's mouth. I called up the mint this evening and spoke to a customer service supervisor. As of today, according to her, the mint has not released any information as to whether or not they are producing the bullion buffs or not.

    Of course, I have been dealing with the mint long enough that I also know that you can only believe in half of what you hear from them. So we will see........
     
  18. elaine 1970

    elaine 1970 material girl

    i think the mint just busy stick to the 2009 american eagle bullion gold and silver one ounce coins. and also later the 2009 american buffalo one ounce gold proof. the rest, skip it. issue it on the next year 2010.
     
  19. krispy

    krispy krispy

    Thanks for going to the extent of a phone call. It was seeming to be in order to help sort out things in this thread. :cool:
     
  20. krispy

    krispy krispy


    It would surely seem easier that way. Although this will be a great era of contention to look back on and recall when one could buy this or that for $X dollar amount... It all makes this era of investing and collecting so much more stimulating!
     
  21. jaceravone

    jaceravone Member

    This is the first word of anything I read that confirms whether or not the bullion version of the buffaloes has been canceled. It is dated June 23rd.... a far cry from the beginning of the year which some people thought it was mentioned. http://goldandsilverblog.com/us-mint-cancels-2009-american-gold-buffalo-bullion-coins/

    Do the work people. All this bickering and arguing could have been avoided if someone just googled buffalo gold coins. They would have found this site and could have referenced this article.
     
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