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***The Official 2008-W 24-Karat American Buffalo Gold Fractional Coins Thread**If you got 'em, tell
Goldbully
Posts: 16,864 ✭✭✭✭✭
Gold Buff buffs, your time has come......
July 11, 2008
United States Mint Releases 24-Karat American Buffalo Gold Coins July 22
Program Expanded to Include Uncirculated Coins, Fractional Weights
Washington - The United States Mint announced today that it will begin accepting orders for fractional weights of the American Buffalo Gold Coin, now available in proof and uncirculated versions, on July 22, at 12 noon Eastern Time. Both versions of the coin will be offered in four sizes-one ounce ($50 denomination), one-half ounce ($25 denomination), one-quarter ounce ($10 denomination) and one-tenth ounce ($5 denomination)-as well as in four-coin sets that contain one coin in each size.
In 2006, the United States Mint introduced a proof version of the American Buffalo Gold Coin containing one ounce of 24-karat (.9999) gold. Based on market research, the Secretary of the Treasury authorized the United States Mint to strike and issue fractional denominations of the coin in proof and uncirculated versions.
Both the proof and uncirculated American Buffalo Coins feature designs based on the classic 1913, Type I Buffalo nickel, by James Earle Fraser. Depicted on the obverse is the striking image of a Native American in profile. An American Buffalo-also known as the bison-graces the coins' reverse. Inscriptions on the coins' obverse include the "W" mintmark of the United States Mint at West Point, the year and the word "Liberty." Inscriptions on the reverse include the face value and weight.
Each coin is encapsulated in protective plastic and mounted in an elegant, custom-designed hardwood presentation case. A Certificate of Authenticity is included.
Mintage and product limits for both the American Buffalo Gold Proof and Uncirculated Coins will be determined by customer demand. Pricing for all options is listed below.
Customers may place orders for the proof and uncirculated 2008 American Buffalo Coins at the United States Mint's secure Web site, www.usmint.gov. Orders also will be accepted at the toll-free number, 1-800- USA-MINT (872-6468).
Note: To ensure that all members of the public have fair and equal access to United States Mint products, any order placed prior to the official on-sale date and time shown above shall not be deemed accepted by the United States Mint and will not be honored.
Contact: Press inquiries: Michael White (202) 354-7222
Customer Service information: (800) USA MINT (872-6468)
Mint Link
July 11, 2008
United States Mint Releases 24-Karat American Buffalo Gold Coins July 22
Program Expanded to Include Uncirculated Coins, Fractional Weights
Washington - The United States Mint announced today that it will begin accepting orders for fractional weights of the American Buffalo Gold Coin, now available in proof and uncirculated versions, on July 22, at 12 noon Eastern Time. Both versions of the coin will be offered in four sizes-one ounce ($50 denomination), one-half ounce ($25 denomination), one-quarter ounce ($10 denomination) and one-tenth ounce ($5 denomination)-as well as in four-coin sets that contain one coin in each size.
In 2006, the United States Mint introduced a proof version of the American Buffalo Gold Coin containing one ounce of 24-karat (.9999) gold. Based on market research, the Secretary of the Treasury authorized the United States Mint to strike and issue fractional denominations of the coin in proof and uncirculated versions.
Both the proof and uncirculated American Buffalo Coins feature designs based on the classic 1913, Type I Buffalo nickel, by James Earle Fraser. Depicted on the obverse is the striking image of a Native American in profile. An American Buffalo-also known as the bison-graces the coins' reverse. Inscriptions on the coins' obverse include the "W" mintmark of the United States Mint at West Point, the year and the word "Liberty." Inscriptions on the reverse include the face value and weight.
Each coin is encapsulated in protective plastic and mounted in an elegant, custom-designed hardwood presentation case. A Certificate of Authenticity is included.
Mintage and product limits for both the American Buffalo Gold Proof and Uncirculated Coins will be determined by customer demand. Pricing for all options is listed below.
Customers may place orders for the proof and uncirculated 2008 American Buffalo Coins at the United States Mint's secure Web site, www.usmint.gov. Orders also will be accepted at the toll-free number, 1-800- USA-MINT (872-6468).
Note: To ensure that all members of the public have fair and equal access to United States Mint products, any order placed prior to the official on-sale date and time shown above shall not be deemed accepted by the United States Mint and will not be honored.
Contact: Press inquiries: Michael White (202) 354-7222
Customer Service information: (800) USA MINT (872-6468)
Mint Link
0
Comments
TD
Where were they when gold was $300??
1 oz. 10.4%
1/2 oz. 12.5%
1/4 oz. 20.8%
1/10 oz. 35.4%
4 pc set 10.4%
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>Premiums over spot (currently $960) for the Uncs
1 oz. 10.4%
1/2 oz. 12.5%
1/4 oz. 20.8%
1/10 oz. 35.4%
4 pc set 10.4% >>
Wow, I was hoping to be able to actually afford one of these.
I knew it would happen.
<< <i>Unlimited mintages kills all people who planned on flipping these coins. >>
I'm not a buyer here because of the unlimited mintages, and Kranky's bullion chart.
Not to mention the bulk submission for First Strike.....a necessary designation now for modern crap!!
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
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<< <i>Like the First Spouse coins you will be able to purchase them at melt on Der Bay, I pass. >>
Good point, GAT.
Mintages on these will resemble the 1986 Gold Eagles, as with most first year of issue Coins
<< <i>I cannot wait! I am going to get an UNC 1/10oz to use as my ball marker when I golf.
<< <i>Premiums over spot (currently $960) for the Uncs
1 oz. 10.4%
1/2 oz. 12.5%
1/4 oz. 20.8%
1/10 oz. 35.4%
4 pc set 10.4% >>
Although I would love a example or two....in no way do I plan to pay those premiums....I'll stick to $20 Liberty and St Gaudens....can get nice old historic coins at or near spot.
I just can't play in the modern coin playground.
RAH
1/2 oz AGE Unc. "W" is $565.95
1/2 oz Spouse Unc. is $599.95, except for Dolley, which is $509
1/2 oz Buffalo Unc. is $539.95
What's up with that ?!?!?!?
<< <i>OK, so
1/2 oz AGE Unc. "W" is $565.95
1/2 oz Spouse Unc. is $599.95, except for Dolley, which is $509
1/2 oz Buffalo Unc. is $539.95
What's up with that ?!?!?!?
I think they screwed up on pricing, because the proofs are way more expensive.
My guess, the Unc prices are wrong!!!!!
<< <i>The pricing seems "right" to me (uncs vs. proofs), but I don't understand how a coin with purer gold in it is less expensive than a 90/10 gold/copper coin. Can someone explain? Is it because more gold means a "softer" coin? >>
I respectfuly disagree as to the pricing being "right."
Check out the pricing on the 2008W AGE's..........there's an $80 difference on the 1/2oz gold buffs, while there is only a $44 difference on the 1/2oz AGE's
$140 vs. $80 on the 1oz. version.....that's a lot!!!!
I think that they know that gold is going higher and have priced these coins accordingly.
I knew it would happen.
<< <i>I respectfuly disagree as to the pricing being "right." >>
<< <i>Check out the pricing on the 2008W AGE's..........there's an $80 difference on the 1/2oz gold buffs, while there is only a $44 difference on the 1/2oz AGE's >>
Ok, I can understand where you're coming from by looking at this info again... it does seem like the markup on the Buffaloes is twice that of the Eagles especially on the one oz. coins, even taking into account the different gold compositions. However, if I were the Mint I would do the same thing - it is a reasonable "guess" that gold prices are going higher in the near future, so I will price accordingly to make up for it without taking it off the market repeatedly to adjust pricing. I am selling a 24 karat gold coin that investors may want to own because it is purer gold than the Eagle (more demand, especially from overseas). I am selling a coin with a classic American design for the first time in fractional sizes that the average collector or special gift-giver can afford even with the markup (more demand again). I am selling a coin with a potential high mintage, therefore I will make it more expensive to own to try to keep the mintage down to a manageable level while lessening the chance of coin flipping on eBay. The US Mint is a quasi-business - they know that at least some people will buy these coins at least in the first year as a type. Is this most people's definition of "fair", probably not, but it is economics.
By the way, while I am seriously interested in a 1/4 oz unc Buff, the $290 price is turning me off - especially when I think of the number and quality of Buffalo Nickels (approx. same size with original design) I could get for the same price.
<< <i>Unlimited mintages kills all people who planned on flipping these coins. >>
Just a quick reminder that this is exactly what was said with regard to the 2006-W Silver Eagle by folks on this very board.
My advice, if you want one and can afford one, don't let the speculated price keep you from ordering one from the source as the US Mint has a huge bag of surprises.
The name is LEE!
"Both the proof and uncirculated American Buffalo Coins feature designs based on the classic 1913, Type I Buffalo nickel, by James Earle Fraser. Depicted on the obverse is the striking image of a Native American in profile. An American Buffalo-also known as the bison-graces the coins' reverse. Inscriptions on the coins' obverse include the "W" mintmark of the United States Mint at West Point, the year and the word "Liberty." Inscriptions on the reverse include the face value and weight."
It appears to me that they are adding the "W" to the Unc. Thus we will have a 1oz Proof, Unc. "W" and an Unc. no "W" bullion. (plus fractionals with "W") Correct me if i'm wrong.
Now, if there was NOT a "W", I could see the reason for pricing the Unc. less than the AGE Unc. "W", but with the "W", it doesn't make much sense to price them below the AGE while the price of gold is going up.
Contrary to some opinions, it looks like the Unc. Buffalo's are a DEAL and the Proofs are inline with the AGE Proofs.
I'd have to agree with 19Lyds, that if you want an Unc., and it is a "W", you might want to jump on it.
I recently bought a beautiful 100 year old Saint, PCGS 64
and paid $50 less than they want for the 1 oz proof
It's a no brainer for me
I consider myself a coin collector
but to each his own
Scott
GrandAm
<< <i>These will be selling below melt price before you know it. A waste of money. >>
ummm...... no, they won't, I dare say ever sell below melt. (excluding some weird isolated eBay aberration)
Are any of you really surprised the AGB proofs are priced higher than the AGE proofs????
The AGE's are 22 years old now, and the Buffalo's are the far more popular new kid on the block.
The U.S. Mint recognizes these are the most anticpated coins of 2008.
It won't be a buy and flip situation unless production issues create temporary shortages, but they will be wildly popular.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>
<< <i>These will be selling below melt price before you know it. A waste of money. >>
ummm...... no, they won't, I dare say ever sell below melt. (excluding some weird isolated eBay aberration)
Are any of you really surprised the AGB proofs are priced higher than the AGE proofs????
The AGE's are 22 years old now, and the Buffalo's are the far more popular new kid on the block.
The U.S. Mint recognizes these are the most anticpated coins of 2008.
It won't be a buy and flip situation unless production issues create temporary shortages, but they will be wildly popular.
John >>
FWIW, I have some 2006 gold buffalo proofs in the original box I can sell you for spot +$40, cash and carry. The Proof gold eagles we can wholesale out at +$120 or so.
TD
I made no reference to the aftermarket to which you are referring....
John
Edited to include:
Further, my understanding is that the reason proof AGE's maintain such a high premium over ABG's has more to do with their eligibility for IRA inclusion...
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
Will the ¼oz'er actually be close in size to the Jefferson nickel?? Wish they would give dimensions.
Any other backsliders onboard??
CoinLink
<< <i>Will the ¼oz'er actually be close in size to the Jefferson nickel?? Wish they would give dimensions. >>
I believe so ... should be about the same size of the 1/4 oz AGE's
<< <i>
<< <i>Will the ¼oz'er actually be close in size to the Jefferson nickel?? Wish they would give dimensions. >>
I believe so ... should be about the same size of the 1/4 oz AGE's >>
OPA, my son misses your goat-head icon.
<< <i>
<< <i>The pricing seems "right" to me (uncs vs. proofs), but I don't understand how a coin with purer gold in it is less expensive than a 90/10 gold/copper coin. Can someone explain? Is it because more gold means a "softer" coin? >>
q]
both contain one ounce of "pure" 24kt gold
the copper added to the AGE reduces the fine to 22kt
i don't know the answer, yes the 24kt buffalo is "softer"
<< <i>OPA, my son misses your goat-head icon >>
Sorry, Gritsman, that wasn't me...previous Icon was an "Old Man"
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
Mint Link
Not actual size of 1/4oz'er
'W' Mintmark on Proof harder to see in pic
'W' on Unc easier to see in pic
1/4oz'er
I'm buying one 1/4oz Proof and one 1/4oz Unc.
Too bad we can not pool our submission to meet bulk requirements for First Strike!!
I'm sure I will get a 4 coin proof set but I will probably wait till after the Heritage auction as these will be minted to demand for quite some time and that box is way cool. Might not even slab them if that box is as cool as it looks.
I'm buying just one 1/4 oz'r Proof, and no unc....OK, I changed my mind when I looked at my wallet!!