Opinions/thoughts on the 2008-W Gold Buffalos.

blue594

I am trying to get my head around the pricing of the 2008-W Gold Buffalos.
With some reputable companies paying multiples over issue price, is it a no brainer to sell?
They are offering over $6,000 for the 4 coin uncirculated set in mint packaging which had an issue price of about $1,900 fourteen months ago. $1,400 each for 1/4 and 1/2 ounces that were issued for @ $290/$550 respectively. That's a pretty big jump.
When whatever push or promotion is over, do you think the prices will drop significantly?
Do you think the low mintages and 1 year availability for the fractionals will keep the prices high or higher?
I'm usually pretty good at figuring these things out, but I keep going back and forth on these.
What do you think? I'd love to hear what others think.

Thanks.
John

smokincoin

Intriguing isn't it?

MsMorrisine

<< <i>When whatever push or promotion is over, do you think the prices will drop significantly? >>



Prices were rising before the "reliable companies" were buying at these levels.

So, I wouldn't say the price increase is due to ""some companies"" buying. There has been a lot of buying from all over and it's got a lot of people's attention.

Goldbully

2008-W American Buffalo Proof $50 1oz PR70DCAM
2008-W American Buffalo Proof $25 1/2oz PR69DCAM
2008-W American Buffalo Proof $10 1/4oz PR70DCAM
2008-W American Buffalo Proof $5 1/10oz PR70DCAM
with OGP's

In hold mode....still wishing for a reasonably priced 70 1/2oz!!!

MsMorrisine

<< <i>2008-W American Buffalo Proof $50 1oz PR70DCAM
2008-W American Buffalo Proof $25 1/2oz PR69DCAM
2008-W American Buffalo Proof $10 1/4oz PR70DCAM
2008-W American Buffalo Proof $5 1/10oz PR70DCAM
with OGP's

In hold mode....still wishing for a reasonably priced 70 1/2oz!!! >>




As a sign of the times...


You're Not Getting Mine!

2008-W American Buffalo Proof $50 1oz PR69DCAM
2008-W American Buffalo Proof $25 1/2oz PR70DCAM
2008-W American Buffalo Proof $10 1/4oz PR69DCAM
2008-W American Buffalo Proof $5 1/10oz PR69DCAM
with OGP's


(well, there are those that know I'm fighting with myself over selling them... but it's not going alone, at least not for a sane price.)

beartracks42

My thoughts?? Wish to heck I had borrowed from my IRA and bought some.

blue594

"Prices were rising before the "reliable companies" were buying at these levels.
So, I wouldn't say the price increase is due to ""some companies"" buying. There has been a lot of buying from all over and it's got a lot of people's attention."

I realize that it is not just firms buying them. They probably can't get near enough to meet customer demand. The more I think about it, there probably is not enough supply to even think about a promotion. This is mostly an "individual" demand.
As smokincoin said, Intriguing.

John

Griv

I'd say they will be quite a keeper. I wish I had picked up more than 2 UNC sets as I only made 2 $50 MS70s and one $10 MS70. I'm done with the proofs. Pop explosions are just too darn common. Except the plats of course since they are each unique, low pop and awesome.

SUMORADA

Opinions/thoughts on the 2008-W Gold Buffalos


........It's never bad to take a profit, it also is never bad to collect what you want, if these are what you want then collect and keep them, if not sell and buy what you want to collect and keep...........

now say that 3 times real fast.....

JMO..

MilesWaits

Your query, blue, is the $7000 Question:

Raw Unc. Set

When is the best time to buy (when we all wish we had)"Borrowed from my IRA",

and when to sell, in my case, a bit too early on an Unc. Set at $3000 less than above,

and when does this thing top?.......
"I realize that it is not just firms buying them. They probably can't get near enough to meet customer demand. The more I think about it, there probably is not enough supply to even think about a promotion. This is mostly an "individual" demand. ""..................Very well said and indeed "intriguing"!!

When you figure it out, you all, please let me know, and then we can pitch in with our winnings and get GoldBully his 1/2 oz. 70.

Miles

Overdate

I don't think design popularity is a major driver of demand, since the common-date bullion and proof Buffaloes have the same design and are available at very modest premiums over melt.

Possibly most of the original buyers from the Mint were collectors who have no need or desire to sell. This would leave a relatively small population of 2008-W Buffaloes in the numismatic marketplace, forcing prices up for newer collectors.

fishcooker

I bet their prices follow the pattern like the 1995W silver eagle. One thing you can count on, is the herd will move on.

pmac

Not being an owner of this set, is a set that has been graded ms69 less "valuable" than a set in OGP?

kimber45ACP

I struggled with it for a while, but decided to dump mine and purchase regular Buffaloes with the cash.

Should be able to turn 2.35 ounces into 10

I bought 2 extra 1/4 ouncers accounting for the discrepancy between 1.85 and 2.35

ambro51

I think, overall, the great winner long term will be the 1/4 oz. uncirculated. Simply because of its size relationship to the buffalo nickel.

My only regret however, is that the surface is more a "satin finish" rather than a more normal business strike uncirculated. Nevertheless......bought mine about 12 minutes after it was introduced...and kept it in the mint packaging.

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[URL=http://s249.photobucket.com/albums/gg204/ambro51/?action=view&current=AAA.jpg][/URL]

jmski52

I am pretty sure that the 2008-W Gold Buffs are going to maintain strong prices and strong premiums for a long time to come. The only caveat might be if gold goes to $5,000. If that happens, alot of coins will lose their premiums.

GUINZO1975

The 2008 W uncirculated buffalo reminds me of the 1995 w silver eagle proof. Both coins were very low mintage and have the "W" mint mark. The silver eagle had a mintage of 35,000 and I've seen some PR70's sell for as much as $25,000 dollars. The 2008 buffalo w uncirculated had a mintage of less than 10,000. It seems that people are realizing that the buffalo with the w mint mark is a one year issue with a super low mintage. Approximately 9600 coins can't meet the current demand and I see the buffalo going much higher. I would not be surprised to see the price of the buffalo pass the $10,000 dollar mark. I am fairly new at this and this is my two cents.

ambro51

Yes I think the laws of supply and demand will be hard at work with the fractional buffalos.

It is amazing that less than ten thousand of the 1/4 oz uncs. were struck, given the low purchase price and popular aspect of its similarity to the buff. nickel in size.

If nine thousand collectors decide to put these coins 'away'.....and less than one thousand remain in the marketplace....who knows? Too bad though that circulation and wear will never be a factor. so...grade, other than to plasticfanatics....will never be important. I would imagine someone, somewhere....has one in the pocket working toward an XF!

all its lacking is a dedicated WMP.

HalfStrike

Look at the price of the 2001 silver buffalo commemorative and how it has held its premium. The mintages on the gold coins are 1/10 to 1/20 of that.

Also some people are still holding multiple amounts of these coins and so there is less available than the numbers show.

smokincoin

Let's not forget about jewelry. I know of one 1/4 unc that made it into a ring.

coasterfan

<< <i>It is amazing that less than ten thousand of the 1/4 oz uncs. were struck, given the low purchase price and popular aspect of its similarity to the buff. nickel in size. >>


The fractionals were intended to be a continuing series. Nobody knew at the time that the Mint was going to discontinue them, thus making them a single-year issue only. Many collectors probably assumed they could easily pick one up later on. You also had some precious metal collectors going after the platinum coins thinking they would be a big deal. It's always the issues that catch everyone by surprise that offer the biggest opportunity.

HalfStrike

They made platinum coins? Maybe the mint should have done buffalo coins in platinum.

drei3ree

<< <i>They made platinum coins? Maybe the mint should have done buffalo coins in platinum. >>



They're saving platinum buffs for the 2013 100th anniversary set!

1/10 Plat, 1/4 gold, 1/2 Palladium, and 1oz silver. How many do you think they'd sell?

smokincoin

<< <i>

<< <i>They made platinum coins? Maybe the mint should have done buffalo coins in platinum. >>



They're saving platinum buffs for the 2013 100th anniversary set!

1/10 Plat, 1/4 gold, 1/2 Palladium, and 1oz silver. How many do you think they'd sell?

>>


Many!

ambro51

2013! Yikes, how "future" like!

assuming we all live through the end of days.............

Why not do the blooming buffalo nickel, type 1`, in, well........nickel?

Give the US mint a good shot at redemption after blowing the chance to do a 2009 SVDB with wheat ears and a 'brenner approved' portrait

fivecents

The 2008-W burnished gold buffalo 1 ounce is the key to the entire gold buffalo series. The mintage is around 9,074. Soon it will be the must have coin and surpass all other gold buffalos in demand. It wil be worth HUGE $$$$$$!!!!

Goldbully

<< <i>

<< <i>2008-W American Buffalo Proof $50 1oz PR70DCAM
2008-W American Buffalo Proof $25 1/2oz PR69DCAM
2008-W American Buffalo Proof $10 1/4oz PR70DCAM
2008-W American Buffalo Proof $5 1/10oz PR70DCAM
with OGP's

In hold mode....still wishing for a reasonably priced 70 1/2oz!!! >>




As a sign of the times...


You're Not Getting Mine!

2008-W American Buffalo Proof $50 1oz PR69DCAM
2008-W American Buffalo Proof $25 1/2oz PR70DCAM
2008-W American Buffalo Proof $10 1/4oz PR69DCAM
2008-W American Buffalo Proof $5 1/10oz PR69DCAM
with OGP's


(well, there are those that know I'm fighting with myself over selling them... but it's not going alone, at least not for a sane price.) >>



And you can't have mine....nah nah nah nah nah nah!!

MsMorrisine

<< <i>Let's not forget about jewelry. I know of one 1/4 unc that made it into a ring. >>

dizzyfoxx

Another one of those situations that proves P.T. Barnum's famous quote.

greghansen

Prices on the 2008-W Gold Buffalos for the 1st time since their release are starting to 'come back to the field' a bit. No more of the constant bi-weekly price increases in the Greysheets. For the first time ever some minus signs showed up in the Greysheets. The number of coins listed for sale is upticking; presumably by some trying to capture the near top. IMO, these are 'done' for awhile as the market tries to find their true price based on supply/demand. I think these hold up well and do fine in the long run...but the days of the weekly/monthly price increases are done and it will be interested to see how far back they pull before the supply/demand equalizes.

morgansforever

I know for a fact that 4 of the Unc. 1/4 ouncers in the OGP, aren't going anywhere for a while
Just wish I had bought more. Things are so clear after the fact.

ambro51

I think the frractional buffs with mintages under 10k have crossed from the bullion market and are firmly in the collector camp and as a previous poster noted "aren't going anywhere". But 2K is an absurdly high price

greghansen

The ones I like most long terms are the 1/4 oz. unc. already mentioned, the 1/2 oz. proof and the 1 oz. unc.
Still waiting for the 1 oz. unc prices to surpass the 1 oz. proof. They're converging...but haven't crossed yet.

morgansforever

<<The 2008-W burnished gold buffalo 1 ounce is the key to the entire gold buffalo series. The mintage is around 9,074>>

The 2011 RB states 3124 were minted. Can anyone confirm the mintage?

greghansen

I don't think that RB number factors in the cois that were part of the 4 coin set. There were more 4 coin Unc. sets sold than the RB number. The 9,074 is the combined mintage for the 1 oz. unc. coin that I've always relied on. You can get some details on the mintage numbers here:

Gold Buffalo Mintage numbers

koynekwest

I bought my single proof 1/4 oz at issue to put it in with my set of "real" Buff proofs. It fits nicely there. My only regret? I wish I would have bought 20 or 30 more.

GritsMan

<< <i>I bought my single proof 1/4 oz at issue to put it in with my set of "real" Buff proofs. It fits nicely there. My only regret? I wish I would have bought 20 or 30 more. >>



Amen to that, Brother!

I, too, think these are going to keep massive premiums despite some small pullbacks here and there. Unless coin collecting disappears completely, these will go down as classics. Personally, I would not buy at current levels, but I do think they'll keep appreciating--and being appreciated!

ambro51

I am surprised that the 1/4 oz size did NOT have a huge sales volume. After all...the size alone in relation to the nickel should have been a major factor alone, I know thats why I chose that denomination.

My only regret is that the Uncirculated version more resembles a satin finish than the look of a normal business strike coin. The proofs...not a fan at all. At least they didnt totally abortionize the coin with an ugly reverse proof version (though maybe only about 2000 of them would have sold and may have been the REAL winner in the series).

Is anyone using one as a pocket piece? sure would be neat to see one in VF! (and a guaranteed pop. 1 besides)

aficionado

<< <i>I am surprised that the 1/4 oz size did NOT have a huge sales volume. After all...the size alone in relation to the nickel should have been a major factor alone, I know thats why I chose that denomination.

My only regret is that the Uncirculated version more resembles a satin finish than the look of a normal business strike coin. The proofs...not a fan at all. At least they didnt totally abortionize the coin with an ugly reverse proof version (though maybe only about 2000 of them would have sold and may have been the REAL winner in the series).

Is anyone using one as a pocket piece? sure would be neat to see one in VF! (and a guaranteed pop. 1 besides) >>




I agree, if there were NO non-W Unc. the "W" Unc. would be to the moon, as it's the lowest minted buffalo. It must be hard for people to pay more for a 'w'. I think time will be generous to these 1oz "W" unc, they are a long term hold.

COINB0Y

I only have some 4-Coin MS OGP's left

Overdate

<< Is anyone using one as a pocket piece? sure would be neat to see one in VF! (and a guaranteed pop. 1 besides) >>

I occasionally see 1/10 ouncers on eBay, mounted in rings or pendants. Probably they were set into jewelry in the year of issue, before prices hit the stratosphere.