Reverse Buffalo Anyone?
Zubie
Posts: 1,160 ✭✭✭✭
I know there are a couple threads on the coin forum, but, was wondering what the PM guys think of the Reverse Buffalo Proof coming out in a couple days. I think I'm in for 3...one for me and one each for the boys.
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Comments
I'll probably go find a PCGS 70 somewhere.
Here's a warning parable for coin collectors...
I knew it would happen.
<< <i>It will be interesting to see how many are ordered during the 30 day order period. Any news on their pricing? >>
There is no 30 day ordering period.
There is no mintage limit.
There is no household limit.
"We'se got plenty, howza many you a want?"
Natural forces of supply and demand are the best regulators on earth.
Mebbe they gonna keep the price a secret until the orders are counted?
I knew it would happen.
but probably look for one
in the secondary market.
PCGS Proof 70 !!!
Love that gold!
<< <i>Only the 69's, don't wanna be too flashy. >>
Good one... Cheers, RickO
I agree! (You can only get so much gratification from a box o'twenty high grade Saints.)
I knew it would happen.
Whatcha think?
<< <i>Price revealed: $1640
Whatcha think? >>
Good price...if you compare what it has been over the last 2 years.
Every ounce that is purchased at $1640 is an ounce that wont be purchased at $1300.
Knowledge is the enemy of fear
<< <i>Mint making same mistake as Apple and pricing products too high?
Every ounce that is purchased at $1640 is an ounce that wont be purchased at $1300. >>
The right mint products are money makers for those that choose wisely, regardless of spot.
Natural forces of supply and demand are the best regulators on earth.
Yeah, a cool product no doubt but to me it seems to be in the same class as the UHR...cool, maybe one of a kind, some collector value and likely to hold the premium over time but as a bullion piece...hummmmmmmmm, not so much. This would likely be a good after market purchase after all the flippers have finished doing their thing and the prices settle back down to reality. But, if you're a buff freak then you gotta get one of these. Now, if we could get the USM to issue some more of those fractional buffs, then we would have some business.
Hey Buddy, can you spare an ASE?
Natural forces of supply and demand are the best regulators on earth.
<< <i>note that I did not say that this was the right mint product. >>
I think you will do average on these. As stated many times I think the modern quick flip play is about dead unless you get lucky and get your order sent out early in the shipping process.
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It only stands to reason that if anyone is buying anything from there, this item should retain intrinsic value , if not the memory of the designer of the Buffalo Nickel. And keep in mind, it is the 100th anniversary of that design.
Approaching with this thought paradigm.
One observation, a 28% premium over spot isn't too bad, considering that there's maybe a 5% premium for 1 oz. gold coins of any sort, anyway. And considering that Proof Gold usually doesn't do too badly either.
I knew it would happen.
Again, ordered because I love the design!
<< <i>Is the US Mint going to add the sales counter as they did in the past? >>
Don't believe so.
Got in for one, on line, with only a minor delay. Phone lines are still busy though
<< <i>I don't care if 1million get sold....did not buy this coin to flip, but to keep my US reverse proof collections intact. (So far all PCGS FS 70's) >>
IMO this is the best and only good reason to buy one. I just foresee too many mint sales of these. Hat's off to you sir.
Natural forces of supply and demand are the best regulators on earth.
<< <i>Is the US Mint going to add the sales counter as they did in the past? >>
Sales Counter was Added : 21K sold so far.
US Mint Link
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<< <i>
<< <i>I don't care if 1million get sold....did not buy this coin to flip, but to keep my US reverse proof collections intact. (So far all PCGS FS 70's) >>
IMO this is the best and only good reason to buy one. I just foresee too many mint sales of these. Hat's off to you sir. >>
Usually in agreement with most of your views, though I would disagree that PR 70 is the "only good reason to buy one". Those I purchase will remain in the OGP and could just as easily get the "right of passage" as "sound reason for buying", without the need for a grade inside plastic and an opinion which comes with a label, when in fact the MINT themselves put out the coin.... , however in the long term : I do not see this as a "bullion" play. I see it as a "coin".
In this regard, How many guys purchased the 2012 W Gold Ounce burnished coin last year ? Bullion players likely did not, and as such missed out on a trememdous opportunity with that premium to spot. Even as gold was plummeting from it's highs around $1900, go find a 2012 Gold Buffalo Proof for under $2200.
As precious metal is concerned, it's just another "gold coin". As population and popularity is concerned , the price of gold has little to do with the "value" as perceived.
I know if a recluse were to die with a wheelbarrow full of PR 70's , the IRS is going to cash in either way. Whether this is sound thinking, is not for me to determine. It's just another view. Thanks for reading and considering it.