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Opinions/thoughts on 2008-W Gold Buffalos

blue594blue594 Posts: 550 ✭
in Precious Metals
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
Successful BSTs with lordmarcovan, pontiacinf, Harry779, ajia, jfoot13, coinfame, Hammered54, fivecents, Coll3ctor, al410, commoncents123.

Comments

  • DarinDarin Posts: 7,043 ✭✭✭✭✭
    I don't know much about the mintages or popularity of that particular issue, but that would be a heck of a profit, so I would probably sell. Good luck whatever you decide. image
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    As long as there is decent demand for gold coins these are going to hold their current value and will more than likely continue to climb. If you have more than one of each, sell some for a nice profit and some peace of mind. Unless gold is found to cause cancer, these will always be worth more than you paid for them. My biggest mistake in numismatics was selling over 300 08W unc. gold AGE's and buffalos within their first 6 months of sellout. I sold over 30 MS70 Prosperity sets for what turns out now to be ONLY 1900-2000. Although I made a nice profit on all of the coins, my fear of them losing any of their quickly gained value kept me from making a lot more had I held them.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    I'm not selling until I need to sell, or until I'm good and ready to sell. The price can do whatever it wants. I'm not selling now.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • FistFullOfDollarsFistFullOfDollars Posts: 359 ✭✭✭
    I am holding on to my fracs too...



    I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Keepin' mine. One of a kind, once only issue. I guess they were authorized with the intent of making a series out of them but that was when the mint was spewing out gold and making good money at it. Now, they have discontinued the age's and why they abandoned the very lucrative age's to keep the can't give 'em away spouses only leaves one to go hummmmmmm.
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    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.

    PS I am also not selling.
  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I'm a dealer in moderns (I see you may be new around here). I don't know of any push or promotion going on. However, there is a general migration of collectors (and some speculators) into low mintage and popular modern issues. The buffalos aren't the only ones. Note that the 2008-W gold eagles with low mintages are starting to take off. Much interest is moving into proof platinum also which has low mintages.

    --Jerry
  • CB2597CB2597 Posts: 3,042
    Any updates especially on the $50 2008 Gold Buffs ? Reached its peak in terms of price or should one still buy?image
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    Reached its peak in terms of price or should one still buy?

    My data looks choppy - not necessarily up or down, but certainly not straight up across the board like it was. Prices could back off a bit, but I don't know if I'd say that quite yet.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • 7over87over8 Posts: 4,733 ✭✭✭
    Hold onto what you are happy to own as a collector, some of the 08W Buffalo's are truly rare in terms of mintage.

    However, based on prior price trends, they all seem to have met the near term peaks and a drop in price of 30% would not be out of the question.

    Some members on here think that these will continue to sky rocket infinitely, but once they take off their tin foil hats and come back to earth, some realize the tremendous opportunity to take some big profits.

    Promotion is over, the big companies have steadily acquired coins over the last 6 months or more and ran some big ads in CW about a month ago (cant believe a dealer on here? missed those ads).

  • CB2597CB2597 Posts: 3,042
    Thanks for the input gentlemen.image
  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    When you sell, just be sure to declare the profit and pay your taxes on the gain.

    That'll give the government way, way more than the meager purchase premium. Perhaps that was the plan.
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