Mint sealed 1oz gold Buffalo...questions

SandW

Bear with me please...I'm ignorant of how MS coin grades are determined. Back when gold was $1000-1200 I bought 1 oz Buffaloes that are U.S. Mint sealed in plastic.
Questions...Value wise, would they be better off left as is, or is grading recommended? Barring any post mint damage, would these uncirculated coins automatically be rated MS70?? And if not, should any minting blemish be considered an error?
Thanks!!

djm

The coin you have is a bullion coin. It was sold by the mint as bullion. Honestly there isn't much difference in value whether it is raw or grade. Value would be melt + a few percent. You didn't say what date it is but assuming the first year of issue 2006 there were a lot of them minted.

jmlanzaf

1. Not all coins are 70s.
2. Defects are not errors.
3. If they graded 70, you might get a premium. Depends on the year. 69s, however, would just lose you money.

Look on ebay. You can see the prices raw vs 69 vs 70.

MilesWaits

Welcome! Good question. I would keep them as is. Personally they’re more important to me Mint sealed in a highly liquid gold buffalo. Highly desirable for any dealer. You made a good call on your purchase.

SandW

Thank you all.

These coins are 2015 and 2016

derryb

@djm said:
The coin you have is a bullion coin. It was sold by the mint as bullion. Honestly there isn't much difference in value whether it is raw or grade. Value would be melt + a few percent. You didn't say what date it is but assuming the first year of issue 2006 there were a lot of them minted.

If it's in mint capsule as the OP states, it was purchased directly from the mint which makes it a proof coin. It is not one of the bulk issued bullion coins that came in mint tubes and had to be purchased in the secondary market.

Proof coin in either 69 or 70 will sell for more than a bullion 69/70. PCGS price guide shows the 2015 proof in 70 to be worth $250 more than the 2016 proof.

CaptHenway

@derryb said:

@djm said:
The coin you have is a bullion coin. It was sold by the mint as bullion. Honestly there isn't much difference in value whether it is raw or grade. Value would be melt + a few percent. You didn't say what date it is but assuming the first year of issue 2006 there were a lot of them minted.

If it's in mint capsule as the OP states, it was purchased directly from the mint which makes it a proof coin. It is not one of the bulk issued bullion coins that came in mint tubes and had to be purchased in the secondary market.

PCGS price guide show the proof in 70 is worth $172 more than the bullion coin in 70.

No, the earliest BU gold Buffalos came sealed into stiff plastic sheets of 20. When we got them at Harlan Berk's I had to cut them apart with scissors. I have no idea how they are packaged nowadays.

I assume that they did them this way to keep them from getting scratched taking them in and out of tubes, which was a constant problem with gold Maple Leafs. The 24kt gold is so soft that it was easy to ding them even taking them out of a brand new tube so that you could put them in flips.

derryb

@SandW said:
Value wise, would they be better off left as is, or is grading recommended? Barring any post mint damage, would these uncirculated coins automatically be rated MS70?? And if not, should any minting blemish be considered an error?

Any spot or imperfection on the coin will remove chances for a 70. Such spots or imperfections are not normally considered errors. The most likely error to be found on these is a "strike thru" where a foreign object was on one of the two dies when it struck the coin, leaving an indentation in the coin's surface. Most common suspect is grease.

If you can see NO imperfections or spots or dings on the coin then it is a good candidate for a 70. Cost of grading per coin can be reduced (grading fee remains the same but shipping per coin becomes cheaper) by submitting more than one coin. Ebay completed sales will give you the best indication of sale prices to expect in both grades. Check to see what they have sold for ungraded to determine in it's worth it to grade them.

derryb

@CaptHenway said:

@derryb said:

@djm said:
The coin you have is a bullion coin. It was sold by the mint as bullion. Honestly there isn't much difference in value whether it is raw or grade. Value would be melt + a few percent. You didn't say what date it is but assuming the first year of issue 2006 there were a lot of them minted.

If it's in mint capsule as the OP states, it was purchased directly from the mint which makes it a proof coin. It is not one of the bulk issued bullion coins that came in mint tubes and had to be purchased in the secondary market.

PCGS price guide show the proof in 70 is worth $172 more than the bullion coin in 70.

No, the earliest BU gold Buffalos came sealed into stiff plastic sheets of 20. When we got them at Harlan Berk's I had to cut them apart with scissors. I have no idea how they are packaged nowadays.

I assume that they did them this way to keep them from getting scratched taking them in and out of tubes, which was a constant problem with gold Maple Leafs. The 24kt gold is so soft that it was easy to ding them even taking them out of a brand new tube so that you could put them in flips.

OP says they are 2015 and 2016 coins. Mint issued bullion coins in tubes these and later years. Not sure what the first year was for the switch to tubes, but I believe it was at least as early as 2009/2010.

edited to add: I stand corrected, 2015 and 2016 bullion coins were sealed by the mint in plastic sheets.

SandW

They are vacuum sealed between plastic sheets.
One of the coins has lost the vacuum seal and looks as though the plastic is about to separate. That is the one I was most concerned with.
As suggested, I'll just leave them as is.
I will post pics ASAP.
I thank everyone who has taken the time to respond.

MsMorrisine

just don't staple the plastic shut

CaptHenway

@SandW said:
They are vacuum sealed between plastic sheets.
One of the coins has lost the vacuum seal and looks as though the plastic is about to separate. That is the one I was most concerned with.
As suggested, I'll just leave them as is.
I will post pics ASAP.
I thank everyone who has taken the time to respond.

"Hermetically sealed! Kept in a mayonnaise jar on Funk & Wagnalls back porch since NOON today!"

SandW

MsMorrisine

If an average “member” were to submit bullion, I don’t think the costs would be recouped if a 70 is obtained.

A 69 may as well be ungraded.

The big boys can submit in bulk and get bulk discounts.

I suggest not grading them.

pmh1nic

Be happy with the appreciation (today $1775 last I checked) and forget about getting them graded.

SandW

@MilesWaits said:
Welcome! Good question. I would keep them as is. Personally they’re more important to me Mint sealed in a highly liquid gold buffalo. Highly desirable for any dealer. You made a good call on your purchase.

@MsMorrisine said:
If an average “member” were to submit bullion, I don’t think the costs would be recouped if a 70 is obtained.

A 69 may as well be ungraded.

The big boys can submit in bulk and get bulk discounts.

I suggest not grading them.

@pmh1nic said:
Be happy with the appreciation (today $1775 last I checked) and forget about getting them graded.

Thank you. They will be left as is.

ricko

Very nice gold Buffalo's.... Really nice coin and easy to sell if you so choose. You have gained value since your purchase...but they are not worth slabbing. Cheers, RickO