Anyone buying the 1 ounce gold buffalo from the Mint?

Steve27 · May 23, 2013 2:34AM

It's only $1,790.00

BAJJERFAN · May 23, 2013 3:04AM

And unlimited mintage!

mikeyg · May 23, 2013 3:19AM

I assume that you are talking about the proof gold buffalo coin.Yes I am buying to keep my collection current.I prefer the raw coins to a plastic coffin.Wont be a new low record,but it is a pretty coin.

Raufus · May 23, 2013 3:27AM

Eventually. The premium to spot is outrageous.

CCC2010 · May 23, 2013 5:08AM

I thought the mint will be adjusting their prices based on current market reality

In this case i will just wait for the much anticipated 2013 Reverse proof gold buffalo coming out later this year. But then again the premium of that one might be twice as much as the regular proof coming out tomorrow.

johnny9434 · May 23, 2013 5:36AM

ill wait and get it at a cheaper rate then what the government wants. ( whats left of it anyway )

ricko · May 23, 2013 5:50AM

No.... premium is ridiculous... Cheers, RickO

Coins101 · May 23, 2013 10:07AM

<< No.... premium is ridiculous... Cheers, RickO >>

So, that would be a NO for me to!!!

wondercoin · May 23, 2013 10:17AM

Based upon the current spot price for gold, did the Mint err in pricing the coins where they did? In the $1,350 - $1,400 range for spot gold, should the coins have been priced $50 less?

Wondercoin

joz350 · May 23, 2013 11:24AM

What did I miss, I thought a reverse proof was going to be released anybody know when?

CaptHenway · May 23, 2013 11:30AM

<< Based upon the current spot price for gold, did the Mint err in pricing the coins where they did? In the $1,350 - $1,400 range for spot gold, should the coins have been priced $50 less?

Wondercoin >>

There was a short-lived spike in the price of gold the other day that apparently affected the price setting.

dorancoins · May 23, 2013 11:43AM

Had a client the other day inquire on whether to get one of them slabbed. He wanted to get one from the mint.

I kindly told him that there are some already slabbed on eBay for much less than from the mint. He is thinking about it.

namwalker · May 23, 2013 1:33PM

Based upon today's close, the mint is asking for a premium of almost $400 or 28% that's kind of steep in my book. Besides the average of last week's London closing was $1,374.75 which was lower than the prior week. Shouldn't the mint's prices have been reduced to $1,740 or $50 less than the current price. Plus the AGE prices should have been reduced also.

I am probably missing something very important and would really like to know.

Type2 · May 23, 2013 3:57PM

<< What did I miss, I though a reverse proof was going to be released anybody know when? >>

Later this year maybe!! I'll hold till then.

TwoSides2aCoin · May 23, 2013 11:51PM

Can't stop a herd.

Cougar1978 · May 24, 2013 12:19AM

I love these coins but.......No way - too big of a premium over melt, gold is on way down, probably to 850 IMO. You would be buried in it......

While USM issues can be a big payday a lot of them are a gamble.

I don't offer more than $100-$150 over melt on common PF AGE if that much. I recently bought two at a recent show for 1500 from walkup buyer. The guy next to me offered him melt. The seller said a shop offered him 97% of melt based on what "the refiner pays."

7over8 · May 24, 2013 12:40AM

I guess you wont be buying much proof gold - save for a few pieces from weak hands.

7over8 · May 24, 2013 12:42AM

I suspect if many balk at the price of the 2013-W Buffalo Proof, not only will the FS pop be very low, but most likely the 12-W mintage will be dethroned by this issue.

Time to sell those 12-W proof buffs!!!!! Take the money and run very fast.

Draped10c · May 24, 2013 2:51AM

<< I suspect if many balk at the price of the 2013-W Buffalo Proof, not only will the FS pop be very low, but most likely the 12-W mintage will be dethroned by this issue.

Time to sell those 12-W proof buffs!!!!! Take the money and run very fast. >>

I would rather have the bullion version. A lot closer to melt. This proof's a glorified bullion coin anyway. Same will go for the RP, unless mintage stays sufficiently low.

Jobessi · May 24, 2013 4:00AM

nope

nutmeg · May 24, 2013 5:25AM

<< Based upon the current spot price for gold, did the Mint err in pricing the coins where they did? In the $1,350 - $1,400 range for spot gold, should the coins have been priced $50 less?

Wondercoin >>

A lower price [$1,740] was just missed because the Wed PM London Fix was above $1,400. The mint uses the Wed. PM London Fix as a criteria for adjustment. It must agree with any price bracket change. In this case the Wed. PM London fix was within the $1,400 to $1,499.99 range.

ShinyThingsInPM · May 24, 2013 5:40AM

suspect if many balk at the price of the 2013-W Buffalo Proof, not only will the FS pop be very low, but most likely the 12-W mintage will be dethroned by this issue.

Time to sell those 12-W proof buffs!!!!! Take the money and run very fast.

This can actually go either way.

- If the gold crashes more people may be buying and since it's minted to demand the mintage in afct can be high

- Also because it's an anniversary year more attention and adversising may take palce and along with reverse proof Buffalo buzz more people may chose the buy regular as well

- It obviously competing with reverse proof for collectors money and this can hurt sales

- Also 2012 was somewhat different patern. 2011 issues of both Proof Gold Eagles and Buffalos were selling well into 2012. As the result I'm willing to guess the Mint somewhat reduced 2012 mintages therefore creating low mintages for both. Now since 2012 inventory is cleared they can pick up minting both in 2013

Raufus · May 30, 2013 12:11PM

$1740 - hope it keeps dropping...

Raufus · June 1, 2013 1:45AM

What a bargain! Love the "U.S. Mint Authorized Dealer." What does that mean? Authorized bullion dealer (which has nothing whatsoever to do with the Proof's) or just B.S?

Will be interesting to see if any of these auctions sell given that one could just as easily order from The Mint.

If I had to bet, given the shipping time, they don't even have any stock - they get the order, order from The Mint and off it goes to the sucker. Incredible.

Sucker's Auction

Rarity · June 1, 2013 2:42AM

<< Eventually. The premium to spot is outrageous. >>

agree 100%

Gold spot is $1382 and I have to pay $1790 for such a common coin? No thank you.

yellowkid · June 1, 2013 2:57AM

<< Eventually. The premium to spot is outrageous. >>

Why would you buy those when for a couple of bucks more you can buy MS 62 period Double Eagles????

mariner67 · June 1, 2013 3:09AM

"Gold spot is $1382 and I have to pay $1790 for such a common coin? No thank you."

Raufus · June 1, 2013 8:38AM

I just don't recall, was the premium this high in prior years? Its just outrageous.

TwoSides2aCoin · June 1, 2013 11:54AM

Premium to spot proves that they value gold more than paper. You might want to consider this, too.

Saints are not 24K ... although I like them more than Buffaloes, as collectible coins are concerned. So it's a conundrum.
Proof Gold has it's own mystique and .... and....

Is it okay to ponder in public ?

OnlyGoldIsMoney · June 1, 2013 12:41PM

No - too much for too little.

BUFFNIXX · June 5, 2013 1:58AM

yes, i will be getting a proof 2013 soon.
should be a good one to hold,
since it is the 100th anniversary of the buff.

stockergreen · June 5, 2013 2:31AM

Gonna wait for the reverse proof

Anyone buying the 1 ounce gold buffalo from the Mint?

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