2009 Gold Buffalo Proof Coins


The US Mint has released information on the upcoming 2009 Proof Gold Buffalo coins. The coins will be available starting on October 29, 2009 at 12:00 Noon ET.

As known previously, only a single one ounce proof version of the coin will be offered. Last year, the US Mint had offered fractional versions of the coin (1/2 oz, 1/4 oz, 1/10 oz) and a full line of collectible uncirculated coins (1 oz, 1/2 oz, 1/4 oz, 1/10 oz). These products had been announced as discontinued in late 2008.

The one ounce 2009 Proof Gold Buffalo coins are struck in 24 karat gold. The obverse and reverse designs are based on the original 1913 Type I Buffalo Nickel by James Earle Fraser. The coins are minted at the West Point Mint and carry the “W” mint mark.

The price of the coin will be based on the tables available for the United States Mint’s numismatic gold products. If the average weekly price of gold remains within the current range of $1,050 to $1,099.99, then the coins will be priced at $1,360.00 each.

The biggest revelation about the offering is that there will be no household ordering limits and no maximum mintage.

Yesterday when examining the bullion coin offering, I had stated that this would be key to the longer term prospects of the 2009 Proof Gold Buffalo. With unrestricted ordering and mintage, presumably for the next two months, the final mintage should easily exceed the low levels of 2008.

Undoubtedly this will be a popular offering, and the coin will be cherished by many collectors, but I don’t think there will be a repeat of the incredible price appreciation experienced for last year’s coins. The one ounce 2008 Proof Gold Buffalo currently sell for $2,600 or more on the secondary market.

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Comments

  1. Anonymous says

    I am based in Asia now(coz this is where the opportunities are ) and I am looking at the global macro picture for my analysis. If ur in U.S. and still thinking U.S. eco is gonna snap back like the 80s and USD is a safe haven like it was, be my guest.

    I'm just thinking ahead; having moved out of the States 3 yrs ago.

  2. Anonymous says

    Nothing goes straight up.
    But ride the trend while it last; and dun bother guessing where the top is like so many here are worried that gold is in a bubble.

    Dun chase the price; but buy the dips, esp if ur selling against USD

  3. Anonymous says

    Bull markets ride a wall of worries… like the people here; worrying about the gold bubble bursting.
    You are probably looking at the wrong directions… if u prefer to hold USD instead

  4. Anonymous says

    You're right. The United States sucks. The dollar will be worthless. Buy Gold, Buy Gold, Buy Gold. Buying Gold makes the sky clear and the birds sing! Gold, gold, gold.

    Oh wait, the US ecomony could rebound. Oh wait, gold production is up 5-10%. Oh wait, 900 tons of gold was reintroduced to the market last year from people selling their personal gold. Gold is up 50% over the price of oil this year. Maybe Gold is tapped out?

  5. Anonymous says

    I really doubt that anyone here is going to change anyones political outlook on the price of gold or world economic policies. The real question is, Will the Proof Gold Buffalo command real premiums right now! If you are just collecting a beautiful coin, then none of this matters at all, but I personally like to collect beautiful coins by selling beautiful coins to pay for my beautiful coins. If I can sell 4 Gold proof Buffalos and make $300 each, then I can basically get one for my own collection…I know, I know…capitalism at its best…Its worked for me in the past. I'm betting that it will work again. By the way, I think some of the bloggers are right about the new Gold Bubble, and I think it will burst and correct too. Right around the time it gets to about $4K to $5K. Happy Blogging!

  6. Anonymous says

    If you had $10k to invest on physical gold, would you buy gold 09 proof buffalos, 09 fractional gold eagles, 09 buffalo bullion, UHR, or a little bit of all of them. Need advice, Thanks.

  7. Anonymous says

    Their is no question that gold will be in a bubble but we have only slowly begun that proces….A bubble is when you are at a cocktail party or at a restaurant and all people are taking about is gold, just like they did for real estate and the teck stocks. We are slowly seeing folks recognize gold as an asset and even if 20% of the population made 5%- 10% of their portfolio in gold or especially silver the price will sky rocket. With regards to Numismatics, we saw how well they kept their price when gold hit $750and silver hit $9.00. They still did great and especially anthing that was 2008.

    If these buffalo are minted like the UHR's then we will have the same scenario but as many bloggers have pointed out, god only knows how many of these the mint will make.

  8. Anonymous says

    To 9:20 AM it depends if you are investing in coins or gold. I personally would look at the population stats/mintages/projected quantities (for 2009), and buy the lower pops at 70 grade. Just coming out of the gate they should be cheaper than buying later, after they have marinaded in the market a while as known rarities.

  9. Anonymous says

    $10,000

    Here's what I would do.

    1 Gold Proof Buff
    1 UHR
    1 1oz Gold Eagle bullion
    5 1/2oz Gold Eagle Bullion
    5 1/4oz Gold Eagle Bullion
    5 1/10oz Gold Eagle Bullion

    Anything left over…I'd buy a massage.

  10. Anonymous says

    Personally, I would avoid buying the graded gold coins and instead spend all of the alotted budget on raw coins. "70" graded coins DO sell for more, but they COST a lot more to acquire too (unless you submit your own raw coins for grading).

    Buying raw coins will allow you to get more of the actual gold metal for the same money you would spend on graded coins. JMO

  11. Anonymous says

    If you are a collector, really like the buffalo proof coin, and can afford it then I say buy one. If you are just an investor then buy at your own risk and don't cry if the value drops. If I can make it work I will buy one. I like the buffalo coins and wish they would make them in silver. Its a uniquely American coin. I don't particulary care for the way the mint operates now but I don't have much say over that other than writing my congressman.

  12. Anonymous says

    I never buy graded coins (imo they are just con jobs)

    But I do only buy coins direct from the Mint and authorized dealers only.

  13. Anonymous says

    What amazes me is all the first strike and early release coins I see by PCGS and NGC.When by clear view of the coin it is very apparent that most of them look like late stage strikes.This clearly proves that not only do these companies cater to the bulk dealers who pay bigger bucks for such labels.But it also puts out a message that buying any graded coin from these scum bags is nothing but a gimmick.Buy from the Mint if you want a newer gold ounce coin.Not from these punks who take advantage of unknowing buyers.Bullion coins are bought in bulk.There is no way to tell which was struck first or released first other then a shipping date.Furthermore,most bulk coins are and never will be in my opinion worthy of the high grades I see these companies give them.Your much better off putting your money into a older gold double eagle then buying the junk they produce today.

  14. Anonymous says

    Authorized dealers are the ones buying this junk and putting first strike and early release labels on them.It's a racket,a gimmick,a scam.GET IT!!!!!!

  15. Anonymous says

    Clearly in my opinion it would be the proof because that is direct from the US Mint and hasn't changed many hands by dealers and graders.Plus I believe the proof is a much more beautiful coin showing more definition with contrasts between the frosted devices and the mirrored back ground.I think the proof will also hold a much higher value based on the lower mintage if that does occur this year which I think is a high probability.But in my opinion I won't buy either because I believe the price on both are just way to high.I'll buy double eagles instead.

  16. Anonymous says

    Good to see so many who disavow the marketing antics and hype of the likes of PCGS. I agree: direct from the mint purchases are best, and especially nice are the flawless ones. I do have a loupe and microscope and like to scan for gems. I'm planning on having a lot of fun with my purchase of 5 mint sets – all those coins to look at closely and make notes +++ !

  17. Anonymous says

    Time for a rant!

    I like some proof versions better than the bullion versions. However, I like the look of the bullion buffalo better than the proof buffalo. To me, the bullion buffalo has a gritter look to it which, IMHO, is more fitting for the style of the design. The proof is a little gaudy. With that being said, though, I do plan to purchase an '09 proof. A collection is a collection.

  18. Anonymous says

    To Anonymous at 10:18,

    Wow! You said the magic word that has been lost by so many over the years in all of the "wheeling & dealing" and "how much profit can we turn on this stuff" mentalities…you plan to have FUN with your coin purchases!

    That's what it REALLY is about in coin collecting, isn't it? When you break it down to it's most basic quality?

    Good for you!

  19. Anonymous says

    Happily surprised to have my Lincoln Chronicles order that was not until am Oct. 16 go from BackOrder to In Stock/Reserved to Shipped to today.

  20. Anonymous says

    Michael, Thank you for this great Blog and for all the hard work you put into it. So unfortunate that instead of coins, the discussion has to usually always bring in politics. I really hope it never gets to the point where you quit and this forum disappears.

  21. Anonymous says

    Coinage is all about politics; as is the demise of the US $. When China elects to put 63 cents of their trade surplus in Euros since June 2009 – that's telling us (US) that we had better take America back (can't keep up these defecits and taxing the people to redistribute our wealth to ACORN) We can play this international game too: quickly switch to the gold standard and tie one buschel of wheat to one barrel of sweet crude oil. The old greenback circulating will be worthless fiat. The USA can be self sufficent trading within its own boarders (keep the illegals out)and bring the US economy back by reducing the tax burden, and storing our wealth backed by our GOLD reserves (our gold certificates do not leave our shores).

    I'm buying a 2009 Proof because it's a beautiful coin and I don't think that there will be too many people who can afford one this year. The value will be there. Give the UHR time – its value will come around also because of it being a one year coinage.

  22. Anonymous says

    No. Taking delivery of metals and ripping off your fellow statesmen by putting first strike ms70 makes you an enemy of the state.

  23. Bowtie says

    No, anyone who takes delivery is an enemy of the state. Notably, if you take delivery the state cannot use it in its paper market.

  24. Dash says

    Bowtie, I'm tired of your brainless comments. Try really hard to leave an intelligent comment or get out of here……

  25. Anonymous says

    Normally I prefer the Proof versions of each coin, but I would have to go with the Unc./Bullion version of the Buffalo. I don't care too much for the unsmooth background. I find it distracting. The first time that I saw a proof buff. I thought that it had flaws.

    The things to look at on buying this proof:

    Many are not wanting to pay the added premium (based on earlier posts here).

    2008 mintage was extremely low in part due to the mimt screwing with the supply (look at last year's posts on the Buff.) They had very difficult time keeping the supply available. Do you really think that they have solved this problem? If so, sign me up for a couple dozen proof ASEs.

    This guy is hitting the market very late in the year. If they decide to cut off sales on Dec. 31, you will have an instant winner. If not, prepare for some serious whining on this blog.

    A lot of people have spent or will spend their coin budget on the UHR Eagle.

    We are still in a deep recession…people just don't have the money.

    Some people will hold off until the price of gold drops to save a few $$$s. If gold does rise as the crystal ball bloggers above forecast, these people may very well be shut out.

    In case you haven't noticed, I think there will be a pretty low mintage on these, and next year's market for them will be hot. If not, I hope that spot gold goes up to $1400/oz. to recover my investment.

  26. Stevieladeek says

    I disagree with the last post predicting a low mintage of the 2009 Proof Buffalo. I think it will be over 100,000 because….1. No proof eagles. 2. No household limit nor overall limit…which tells me the Mint is well positioned in .9999 blanks to make a lot of these.
    3. A lot of people might buy hoping for a repeat of 2008 prices in the secondary market…which will not happen. 4. There are not any fractional proofs and no uncirculated "W" coins at all.

    Of course, I think sales in the first week will give us a fairly good idea of the demand of this coin. I'd be surprised if the first weeks sales is under 25,000…but time will tell.

  27. Anonymous says

    I think the mintage on the 2009 Proof Buffalo's will far surpass the huge mintage of the UHR's.

    The mint put limits on the UHR, and they have made over 100,000 of them already. No limits at all on the buffalo suggests they are ready for an even higher mintage for it.

    The UHR is pretty much a dud, with little hope of ever increasing in value due to its huge mintage. The 2009 Proof Buffalo appears to be headed for the same pathetic fate. I believe they are going to make a TON of these, and will likely sell them well into 2010. (knowing the mint, they will then probably cancel 2010 buffalo's just out of spite!)

    2009: The year the Mint didn't hardly make any coins, but the ones it did make had such a huge mintage they are pretty much worthless!

    I won't be surprised if the Buffalo proof sells 80,000 the first week, like the bullion version. I expect it will be more like 50,000 though just because they are priced $300 over spot. From there, the mintage will explode… especially if gold prices dip down.

  28. Anonymous says

    WOW… it's probably not coins ur collecting…if mintages or how others will view ur coin matters so much to you.
    Buy if u will like it; and dun buy if u won't like it.

    If you like to speculate- go speculate in the stock markets or if u like commodities, go speculate in Gold or crude futures.

  29. Stevieladeek says

    Sorry, but I don't have enough money to just "buy" a gold coin cause I like it. I have to pick and choose WHICH gold coin will be the best "investment" for me. We all have our preferences, so don't come down on people like that. I invest in stocks too!

  30. Anonymous says

    I don't think the UHR is a "dud" coin. True, the mintage has passed the 100,000 mark. But, it's a one-year only "type" coin with worldwide appeal. Raw specimens sold on eBay can still fetch as much or more as the price the Mint is now selling them for.

    High mintage does not necessarily kill value, if enough people remain interested in the coin. Look at the 2006 Buffalo Gold Proof coin. It's mintage is around 252,000, and it still routinely sells for $1,300-$1,350 today. Considering that it's issue price was only $800, that is a pretty nice return on a 3-year investment! I wish now I had bought more of them back in 2006!

  31. Anonymous says

    Stevieladeek said…
    Sorry, but I don't have enough money to just "buy" a gold coin cause I like it. I have to pick and choose WHICH gold coin will be the best "investment" for me. We all have our preferences, so don't come down on people like that. I invest in stocks too!
    ——————————

    IF you dun have enough money to buy a gold coin; u probably shouldn't be investing in the stock mkt imo.

  32. Stevieladeek says

    Learn how to read…I didn't say I didn't have the money to buy a gold coin…I said I didn't have the money to buy just ANY gold coin. I pick and choose which ones to buy.

  33. Anonymous says

    Don't let them bother you, "Stevieladeek". The guy who said you shouldn't be investing in the stock market is probably the same guy who kept posting comments as "Moy" for a few days. And the "Exactly rite!" reply was probably him also, just trying to make it appear that others support his silly ideas! You probably have 10 times as much money as he has! He doesn't sound intelligent enough to hold down much of a job.

  34. Anonymous says

    Hey! Gold ask is around $1,044! If it will only stay at that level or lower through Wednesday morning, we might see a $50 price drop this week!

  35. Anonymous says

    let's keep our fingers crossed till Thurs. Things are looking good thou' going into Month end with options expiration.

  36. Anonymous says

    Most people who sound intelligent are probably not intelligent from my experience – just look at our politicians!

  37. Anonymous says

    I agree with the previous posters.

    Simply put, if you are strapped for cash, you probably aren't fit to be a collecter (at least in expensive gold coins)

    Maybe Stevieladeek should pick a collecter hobby that's within his budget. (silver or normal coins, stamps etc)

  38. Anonymous says

    It looks like I won't be buying my Proof Buffalo coin this week. The average of London Fix Prices is too tantalizingly close to the $1,049.99 mark needed for a $50 price drop for me to order this week.

    The am fix today was $1,040.75. But, the average of the fixes since last Thursday's am fix is still $1,054.36. With only two more fix prices to include in this week's calculation, it does not appear too likely that the average will get quite low enough to trigger a price decrease.

    But, I will still wait until next week and continue to track the average price. With no mintage or order limits, I'm confident that the coins will NOT sell out this week. Since the possibility of a price decrease soon far outweighs that of a price increase, I really have nothing to lose by waiting. I place no value on the silly "First Strike" nonsense, so only the eventual sellout poses any danger to me.

  39. Anonymous says

    The London pm gold fix price came in at $1,036.50. The average now stands at $1,052.13. In order for the Mint to lower prices by $50 this week, the am fix on 10/28 must be at or lower than $1,032.75.

    Let's all hope for it!

  40. Anonymous says

    If you want to have fun collecting Buffaloes, stick with 2008-W.
    It is a proven success. Buy as many 2008 as you can afford now. In a couple of yrs, sell some to pay for your 2009 and maybe 2010.
    There will be plenty of 2009, you don't need to rush.

  41. Anonymous says

    Buffalos will have to wait for me till next week. I don't see gold moving much higher so I can get a better price once the buffalos are lower next week.

  42. Anonymous says

    Absolutely right! The Mint got out of having to do a price decrease this week because the average from Thursday AM to Wednesday AM was $1,050.28. If both fixes hadn't been over $1,061 last Friday, the prices would have been lowered this week.

  43. Anonymous says

    2009 American Buffalo One Ounce Gold Proof Coin (BA9)

    Price: $1,360.00
    —————————-

    SO anyone buying today?

  44. Anonymous says

    I will wait until next week. Even with a big ($17) move today, gold spot still below $1,050. The chances of the average price staying below $1,050 are good enough to hold off. Even if gold spikes above $1,050, the chances of it going > $1,100 in a week seem very small, indeed.

  45. Anonymous says

    If you have not ordered you are probably too late.
    I believe these are very close to being sold out.

  46. MarkApsolon says

    Michael,

    What do you want to bet the Mint stops selling the Buffalo proofs the first week of Nov. I bet they have a certain number blanks on reserve just for them and I bet its under 25,000. They still have the 2009 AGE and the fractionals to make in Nov thru Dec. The demand is still a little high for the AGE 2009's and the fractionals will be through the roof. I have to get me a few plats proofs too :). I'm going to be broke by Christmas..lol

  47. Anonymous says

    It's November 7, 2009 –
    Has anyone reeived their order yet?
    How many did you order?
    When did you order?
    When did you receive them?
    I completed an order within the first 10 minutes on October 29 (by 1210 Eastern time) – item was on 'hold' through today, today US Mint states my order is 'reserved'.
    I'm concerned that the US Mint will play games by delaying shipping and up-price me due to increases in price (from LME fix increases). They present us with so many problems – should be outsourced a la the Canadian Mint.

  48. Michael says

    Once you have placed an order, the US Mint will not increase your price- even if the coin actually ships when higher prices are in place.

  49. Gadfly says

    as of 11/11/09

    AM gold fix = $1114.50
    GAB Proof coin = $1360.00
    ———————
    Net premium = $245.50

    The mint's premium doesn't look so bad now

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