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Fractional Buffalos Coming in 07!!!!
crcrews
Posts: 325
The family of Buffalos are coming in 07. I don`t subscribe to the on line reading of Coin World so I do not know anything but the headlines. I did not see a thread on this and thought it may or may not be interesting to others. Maybe someone else can access the article and shed some specifics. Chas.
Charles Crews ** CU Members that I have had Buy/sell deals with alohagary,dabigkahuna,goldman86,fivecents,endzone,clackamas,ericj96,Bochiman,Wingsrule,adriana,claychaser,holeinone1972,itsnotjustme,MJcoin,Kishul,jsego,TWQG,carlwolfort,jmski52,steelielee,grote15
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The good part is the quarter oz is approx. the same size as the original Indian Head nickel. It would make for a nice comparison set.
OK, if I want to get one of each different coin the mint makes for 2007, how many coins will I get?
<< <i>They should replace the AGE series with the Buffaloes. The world gold market likes .9999 gold better than .9167 gold.
OK, if I want to get one of each different coin the mint makes for 2007, how many coins will I get? >>
Someone on this forum calculated that this year it would cost $28,000. Next year will be much more.
<< <i>That'll be a nice set. Good to see some new stuff coming out of the Mint. >>
Yeah - like that Buffalo design.
>>>My Collection
Might be something I would look at but 50/50 at best.....
<< <i>They should replace the AGE series with the Buffaloes. The world gold market likes .9999 gold better than .9167 gold. >>
you have a good point about purity but there are lots of AGE collectors that wouldn't be happy. --Jerry
An impossible task.....
Now would be the perfect time to end the Gold Eagles as we know them. On the heels of the Reverse Proof!
Then bring them back with St. Gaudens obverse and reverse later down the road.
Precedent has been set with the buffalo!
<< <i>you have a good point about purity but there are lots of AGE collectors that wouldn't be happy. >>
So does that mean they should be minted forever? All series come to an end, someday. (Well, except Lincoln cents of course.) Capping the series gives folk a chance to actually complete it.
Besides, I suspect most would switch to Buffaloes, if they just had to buy a new gold coin every year.
<< <i>If we end gold eagles to we keep Silver and Pt? >>
Sure, why not? Aside from each being called "eagles" (a dubious term to begin with -- in American coinage, an "eagle" is a $10 coin, end of story), what do each have to do with the other? The first 11 years of the program there were no Platinum "eagles" anyway, so it's not like there's any sort of "complete" series about it.
<< <i>id be in for a 1/10 buffallette
Cute! I think the 1/4 oz size will be popular -- they'll look just like gold nickels.
<< <i>i find the .25 sizes most digestable... >>
Me too.. I think they'll look really nice.
Legislation says thay have to make the Buffalo in 2007. After 2007 they can change the design.
I think the Eagle and Buffalo will be available for 2007 and we'll have to see what happens in 2008. Hopefully a new design.
??????????
<< <i>Sounds nuts, but Coin World had an article that questioned the legality of putting the .9999 Buffaloes in an IRA. >>
Legality aside, I question the sanity of putting .9999 Buffaloes in an IRA.
<< <i>Legislation says thay have to make the Buffalo in 2007. After 2007 they can change the design.
I think the Eagle and Buffalo will be available for 2007 and we'll have to see what happens in 2008. Hopefully a new design. >>
I'd like to see the Saint design, personally, in .999 rather than the "obverse only" saint in .900. I'm not saying to get rid of the current .900 Saint, but another option for bullion buyers would be appreciated. Definitely keep the buffalo gold.
<< <i>I'd like to see the Saint design, personally, in .999 rather than the "obverse only" saint in .900. >>
Current Saint American gold eagles are .9167 fine, not .900.
But if we keep buying, they will keep producing. Basic economics, supply and demand.
<< <i>
<< <i>I'd like to see the Saint design, personally, in .999 rather than the "obverse only" saint in .900. >>
Current Saint American gold eagles are .9167 fine, not .900. >>
They could make a .900 version as well..
<< <i>Sounds nuts, but Coin World had an article that questioned the legality of putting the .9999 Buffaloes in an IRA.
?????????? >>
Please clarify, what do you think sounds nuts? That the legality of putting .999 fine buffalos in IRAs has been questioned, the fact that the buffalos aren't legal for IRAs, or that Coin World wrote an article on the question? (Strickly speaking it isn't legal to put them in IRAs because the law that allows gold bullion coins in IRAs specificly states that only the .916 fine US gold eagles are acceptable. The buffalo doesn't match that legal requirement.)
Actually, this is old news. This was all brought out when the
$50 Gold Buffs first came out and the Mint made it known
then that there would be fractionals next year.
It was discussed in all the other gold buff threads.
But now everyone knows for sure that it's a reality!
The questions were very direct and to the point -
1) Fractional Gold Buffalo's in 2007 - would you buy, would you buy a 4 coin set (1,1/2,1/4,1/10), would you buy individual coins, proof and matte uncirculated, etc.
2) Fractional 1/4 or 1/10 buffalo's in a Unc set featuring all mints (P,D,S,W) in a special set (limited)
and a whole host of other questions,
seems like they are gearing up for a big 2007.........
I love that the mint has a diverse product offering (compared to the 60s through the 80s), but this is nuts. IMO The number of collectors who will collect, let alone afford, the mint's bullion product offering will decline dramatically next year, especially at where metals are priced currently. You'd have to throw down more than several thousand dollars to have one of everything--and who wants that anyway? My guess is the more the mint spews out, the more collectors abandon products they really aren't committed to collecting.
I personally couldn't care less about platinum regardless of how limited the mintages are. Gold's another matter for me. I like both 1 oz. coins. I'd be seriously bummed if they discountinued the AGEs. However, I really couldn't care less about fractionals of either series. Realistically, do you think the bulk of gold collectors will chase fractionals of both series? I don't.
<< <i>The U.S. Mint is turning into a Canadian Mint clone and have lost me. No way am I buying the crap they are offering in 2007. >>
Now if the US Mint would only clone the high quality level of the RCM. I've stopped buying US silver proofs sets becuase of the poor quality and white haze problems.
Miles
<< <i>I think this is a bad idea. The US (RCM) Mint can barely keep up with quality control as is. I think the perverbial "poop" will hit the fan towards the end of next year...annuals, presidentials, first hags, statehood quarters, possible silver prez's, 10th anniversary platinum 3-coin sets, commems, roll and bags.
The good part is the quarter oz is approx. the same size as the original Indian Head nickel. It would make for a nice comparison set. >>
Don't forget the new Penny due out in 09. They could screw that up, too!
<< <i>
<< <i>Sounds nuts, but Coin World had an article that questioned the legality of putting the .9999 Buffaloes in an IRA.
?????????? >>
Please clarify, what do you think sounds nuts? That the legality of putting .999 fine buffalos in IRAs has been questioned, the fact that the buffalos aren't legal for IRAs, or that Coin World wrote an article on the question? (Strickly speaking it isn't legal to put them in IRAs because the law that allows gold bullion coins in IRAs specificly states that only the .916 fine US gold eagles are acceptable. The buffalo doesn't match that legal requirement.) >>
What law are you referring to? the only law I found was IRS Pub 590, Page 48 which states that investment in collectible coins is prohibited with the following exception:
Exception. Your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U.S. gold coins, or one-ounce silver coins minted by the Treasury Department. It can also invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion.
The only specification is that they are a) US and minted by the Treasure Dept., b) a certain size, and c) a certain metal.
I think a reasonable judge would side with the reasonable interpretation being any currently minted US silver or gold eagle or gold buffalo, especially the uncirc version.
The only problem with those, is that it is kept in someone else's possession.
As far as the fractional buffs, I think it would be nice if they didn't charge such a ridiculous premium on everything. But that isn't going to happen.