Home› U.S. Coin Forum

Mint Cancels Unc. Buffalos

derrybderryb Posts: 37,155 ✭✭✭✭✭
in U.S. Coin Forum
As reported by our host:

End of Unc. Buffs

Repetition of ignorance is ignorance raised to the power two.

Comments

  • MsMorrisineMsMorrisine Posts: 33,569 ✭✭✭✭✭


    << <i>"Despite the low mintages, the Mint was unable to allocate gold bullion reserves and was forced to eliminate many of their silver, gold and platinum products. " >>




    how much gold goes into their silver and platinum products?


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • NitroCruiserNitroCruiser Posts: 654
    I see the demand on these only going up. Events like this are what gives modern collectors a bit of a rush in an otherwise crowded playing field with too many products.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    They are probably sitting on half a million gold blanks for all of the expected High Relief and first spouse orders that never showed up.
  • derrybderryb Posts: 37,155 ✭✭✭✭✭


    << <i>

    << <i>"Despite the low mintages, the Mint was unable to allocate gold bullion reserves and was forced to eliminate many of their silver, gold and platinum products. " >>




    how much gold goes into their silver and platinum products? >>



    Dunno, but public law (sponsored by my hero Ron Paul) requires the US mint to allocate resources to meet demand of bullion silver and gold eagles. This was Rep Paul's effort to ensure the American public is not denied the option of direct investment/possession of precious metals.

    Repetition of ignorance is ignorance raised to the power two.

  • MilesWaitsMilesWaits Posts: 5,380 ✭✭✭✭✭
    Damn........2008 just keeps getting better (for possibly the number one year for Last Run Gold and Platinum Mint Products!)

    Miles
    Now riding the swell in PM's and surf.
  • CaptHenwayCaptHenway Posts: 32,356 ✭✭✭✭✭
    Rechecking the Mint's website, I see that they say that they have discontinued the "Uncirculated" gold Buffaloes.

    In Mintspeak, "Uncirculated" refers to the pieces with mint marks that we in the trade call "Burnished Uncirculated."

    What we in the trade call "Uncirculated" coins, as opposed to Proofs, are the non-mintmarked coins that are issued in sheets of 20, which the Mint calls "bullion quality."

    So, they may or may not issue the "bullion quality" coins this year.

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • RichRRichR Posts: 3,869 ✭✭✭✭✭

    Ok...so now the question is this...does having a one year fractional issue of Unc buffs help or hurt their future resale values? Thoughts?

    And I'm also assuming that the proof buffs won't be issued in fractionals this year?
  • timcointimcoin Posts: 674 ✭
    That sticks. I'd rather them stop making the proofs. IMO, the uncirculated gold buffalo coins are the U.S. Mint's best product over the past five decades.
  • CaptHenwayCaptHenway Posts: 32,356 ✭✭✭✭✭


    << <i>Ok...so now the question is this...does having a one year fractional issue of Unc buffs help or hurt their future resale values? Thoughts?

    And I'm also assuming that the proof buffs won't be issued in fractionals this year? >>



    There will be no fractional buffaloes of any finish, period.
    There will be one ounce Proofs.
    There may be one ounce "bullion quality" coins.
    THat's about it.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • ambro51ambro51 Posts: 13,835 ✭✭✭✭✭
    So.....since I am at this point too lazy to search the internet, what was the final mintage of the 1/4 oz $10 Buffalo Unc.?

    Just curious, I was one of the hot to trots who haddahaveit on day UNO.
  • FredWeinbergFredWeinberg Posts: 5,866 ✭✭✭✭✭
    Tom, I'm hearing that there will be OOBBB's
    (One Ounce BU Bullion Buffalos).
    Retired Collector & Dealer in Major Mint Error Coins & Currency since the 1960's.Co-Author of Whitman's "100 Greatest U.S. Mint Error Coins", and the Error Coin Encyclopedia, Vols., III & IV. Retired Authenticator for Major Mint Errors for PCGS. A 50+ Year PNG Member.A full-time numismatist since 1972, retired in 2022.
  • Steve27Steve27 Posts: 13,274 ✭✭✭
    Reading between the lines, there is more money in proofs than bullion.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • 2manycoins2fewfunds2manycoins2fewfunds Posts: 3,036 ✭✭✭


    << <i>Reading between the lines, there is more money in proofs than bullion. >>



    It is also more profitable per unit sold.

    I bet the cost of making seperate packaging for each different 1/10-1/4-1/2-1 oz. item in 2 different finishes became a significant cost when applied to a small sub 10,000 run.
  • 2manycoins2fewfunds2manycoins2fewfunds Posts: 3,036 ✭✭✭


    << <i>Ok...so now the question is this...does having a one year fractional issue of Unc buffs help or hurt their future resale values? Thoughts?

    Thoughts??.............How about ...........no brainer!!!

  • jmski52jmski52 Posts: 22,993 ✭✭✭✭✭
    I bet the cost of making seperate packaging for each different 1/10-1/4-1/2-1 oz. item in 2 different finishes became a significant cost when applied to a small sub 10,000 run.

    A part of the US government is becoming cost-conscious? I don't think that it's cost-efficiency as much as it is the ultimate disappearance of precious metals from their repertoire.

    Notice how it's always the socialists and Dems that don't seem to like gold and silver very much?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,444 ✭✭✭✭✭
    Who likes gold ?
  • RichRRichR Posts: 3,869 ✭✭✭✭✭
    <<Thoughts??.............How about ...........no brainer!!!>>

    I don't agree...some collectors don't want to collect what is essentially an "orphaned" series...or at least orphaned denominations within a series.
  • 2manycoins2fewfunds2manycoins2fewfunds Posts: 3,036 ✭✭✭


    << <i><<Thoughts??.............How about ...........no brainer!!!>>

    I don't agree...some collectors don't want to collect what is essentially an "orphaned" series...or at least orphaned denominations within a series. >>



    I think the marketplace has already voted................
  • RichRRichR Posts: 3,869 ✭✭✭✭✭

    <<I think the marketplace has already voted................ >>

    The market has voted to date based on the knowledge it had previously...but with this new info, how about FUTURE appreciation?

    And I'm talking appreciation based on collectibility not on the price of gold. Any price predictions going forward? Short, medium and long term?
  • 2manycoins2fewfunds2manycoins2fewfunds Posts: 3,036 ✭✭✭
    I see it this way..............

    If you go into a show and want to buy 1/4 or 1/2 oz. of US Mint gold you have absolutely no shortage of AGEs to fill you needs.

    If you want 24 KT American fractional gold you only have one choice............2008 buffalos.

    If someone comes to your table and wants common bullion US gold with lowest mark up but minimal numismatic potential they will get AGEs with only a few exceptions(i.e. 2008-W $10).

    If they want something with a unique design in 24 KT with proven numismatic potential they will get Bullalos.

    There is a point when a bullion based coin transcends its base metal content to become a numismatic item.

    I think any bullion based coin that trades at over a 25% premium to base metal melt should be viewed as a numismatic rather than pure bullion play.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I think the one ounce coins are not an orphaned series and people that collect those will want all four sizes. That is why the prices for the fractionals are so high, people need them to finish the sets.

  • smokincoinsmokincoin Posts: 2,636 ✭✭✭


    << <i>So.....since I am at this point too lazy to search the internet, what was the final mintage of the 1/4 oz $10 Buffalo Unc.?

    Just curious, I was one of the hot to trots who haddahaveit on day UNO. >>



    10,649 isn't it?
    BST items for sale
  • garsmithgarsmith Posts: 5,894 ✭✭


    << <i>

    << <i>"Despite the low mintages, the Mint was unable to allocate gold bullion reserves and was forced to eliminate many of their silver, gold and platinum products. " >>




    how much gold goes into their silver and platinum products? >>



    Not enough
  • BBNBBN Posts: 3,761 ✭✭✭
    why doesn't the mint just eliminate the 90% AGE and go with the .999 buffalos in all four sizes and even maybe a 1/20. Most other countries seem to not have a problem making .999 gold coins in oz and fractions.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
    #2 1980 Topps Los Angeles Rams Team Set
    #8 (and climbing) 1972 Topps Los Angeles Rams Team Set
  • derrybderryb Posts: 37,155 ✭✭✭✭✭


    << <i>Who likes gold ? >>



    Certainly not me!

    image

    Repetition of ignorance is ignorance raised to the power two.

  • ProofCentsProofCents Posts: 1,656
    There is no short supply of gold it just a matter of how much you are willing to pay for it
  • BullsitterBullsitter Posts: 5,778 ✭✭✭✭✭
    They need to cancel Mr. Moy.........

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...