Is the Proof Gold Buffalo worth it?

northcoin · June 25, 2006 4:07AM

Obviously the price on the proof was in part due to the recent upswing in gold value. Now that there has been a retreat there is no discount. With the regular issue there is a meaningful correlation to the spot price of gold. Since the proofs are being made in such a large number anyway it seems it may be hard to justify the extra expense for that reason. The only way I can see the proofs being worth getting is if you just have to have that deep mirrored look and could care less if it is over priced or if the mint either ends up making only a very limited number of proofs or melts anything over a limited number that get sold. Sort of a catch 22. The more popular the proof Buffalo is and the more that get sold, the less popular it will be in the future and the less chance one will be able to recoup their "investment" upon resale.

TheRaven · June 25, 2006 5:04AM

For me personally at $800 I would rather purchase some classic American gold coin instead of a 2006 coin.....

I agree that 300,000 is a huge number and very well could be difficult to suppose over time.....

Yesterday when I was at the coin store by me, the dealer was convinced these would sell out and he was preselling them at $925 each and said he sold a few already.....

gamr0n · June 25, 2006 5:21AM

<< <i>For me personally at $800 I would rather purchase some classic American gold coin instead of a 2006 coin.....

I agree that 300,000 is a huge number and very well could be difficult to suppose over time.....

Yesterday when I was at the coin store by me, the dealer was convinced these would sell out and he was preselling them at $925 each and said he sold a few already..... >>

I would agree if this said modern instead of classic, and silver instead of gold.

TheRaven · June 25, 2006 5:22AM

<< <i>

<< <i>For me personally at $800 I would rather purchase some classic American gold coin instead of a 2006 coin.....

I agree that 300,000 is a huge number and very well could be difficult to suppose over time.....

Yesterday when I was at the coin store by me, the dealer was convinced these would sell out and he was preselling them at $925 each and said he sold a few already..... >>

I would agree if this said modern instead of classic, and silver instead of gold. >>

To each there own, I would rather spend that $800 working on Barbers sets too.....

Russ · June 25, 2006 5:24AM

Cool, another thread about the gold buffalo.

Russ, NCNE

Whizzard · June 25, 2006 5:27AM

No, its not worth it. There won't be any support for that at resale for a very long time. The MS coin however, I wouldn't mind having for $200 less.

Or get a nice Eagle instead

GAT · June 25, 2006 5:32AM

I bought 3 proofs on 2 orders with the thought of cancelling one or both if the sales are sluggish or the eBay action bad. It's really a free option with no risk. If gold prices tumble you can expect a lot of orders cancelled.

michael · June 25, 2006 5:34AM

the gold proof buff will be worth it to pay 800 smackers for when gold goes to a grand in a couple of years

FullStrike · June 25, 2006 5:38AM

The Mint did so well with the Silver Buffaloes a few years ago that they are now issuing the design in Gold. Good for them - hope the suckers sell out in 2 weeks.

In 2 years I'll be looking to snatch one up after the price drops off.

Steve27 · June 25, 2006 6:09AM

"Is the Proof Gold Buffalo worth it?"

No.

MrKelso · June 25, 2006 6:17AM

If we have a roller coaster week in bullion this week, you may be able to pick up the business strike around mid week for a lot less then it is now.
The proof strike? To high.

aficionado · June 25, 2006 6:25AM

Is the Silver Dollar Proof worth it? Bullion at $10 - Proof at $37

Is the Silver Proof mint set worth it? Silver set - $37.95 , regular Proof $22.95, street value of coins, $2.91

If you like it, buy it, if you make money on it, great. If your buying it for the sole purpose of trying to make money, there may be other options.

ScarsdaleCoin · June 25, 2006 6:47AM

correction....it was going to be $875 and the mint lowered it to $800 plus shipping if you order on the web is only $4.95......

DMWJR · June 25, 2006 6:55AM

Bullion value only.

PerryHall · June 25, 2006 6:59AM

In a year or two, after the current hysteria dies down, you'll be able to buy these much closer to melt. Of course, by then, melt may be $1,500 per ounce.

northcoin · June 26, 2006 1:15AM

<< <i>In a year or two, after the current hysteria dies down, you'll be able to buy these much closer to melt. Of course, by then, melt may be $1,500 per ounce. >>

Is the Proof Gold Buffalo worth it?

Comments

Leave a Comment