2013 Proof Gold Buffalo Sold Out

gold-buffaloAround mid-day yesterday, the 2013 Proof American Gold Buffalo sold out at the United States Mint. Based on the numbers currently available, the coin seems to establish a new mintage low for a one ounce proof coin of the series.

The 2013 Proof Gold Buffalo originally went on sale May 23, 2013. At the start of sales, the one ounce gold coin was priced at $1,790. The pricing was subject to weekly adjustment throughout the period of availability. At the time of the sell out, the coin was priced at $1,590. As has been the case for recent numismatic releases of the series, there was no maximum mintage established.

According to the latest weekly numismatic product sales report published today, the coin reached sales of 18,555 units. It is possible that the number may see some changes in subsequent weekly reports, but at the current time it sets a new mintage low for a one ounce proof coin of the series. Looking more broadly across all numismatic issues, the sales figure does remain well above mintage levels for two of the fractional proofs and all of the 2008-W uncirculated coins.


Here is a look at how all of the mintage figures (or last reported sales figures) stack up:

Proof Coin Mintage
1 oz. 1/2 oz. 1/4 oz. 1/10 oz.
2006-W 246,267
2007-W 58,998
2008-W 18,863 12,169 13,125 18,884
2009-W 49,306
2010-W 49,263
2011-W 28,693*
2012-W 19,765*
2013-W 18,555*
Uncirculated Coin Mintage
1 oz. 1/2 oz. 1/4 oz. 1/10 oz.
2008 9,074 16,908 9,949 17,429
Reverse Proof Coin Mintage
1 oz.
2013-W 47,836*
*last reported sales

In a few posts earlier this year, I had mentioned the 2013-W Proof Gold Buffalo as a potential sleeper. The lure of the first ever reverse proof offering for the series had the potential to take attention and available funds away from the regular proof version.

The reverse proof coin did receive an extremely enthusiastic response from collectors, achieving total sales of 47,836 units, however, sales for the regular proof were not impacted by a large extent. Although the 2013-W Proof sets a new mintage low, it is only down about 6% compared to the last reported sales for the 2012-W Proof.

The numismatic run for the American Gold Buffalo series is perhaps the most varied among the modern precious metals series. There is continuity in the offering of an annual one ounce proof version of the coin, but this is interrupted by the three fractional proofs offered only in 2008. Also in 2008, collectible uncirculated versions were offered across four different sizes. This year, the one ounce reverse proof was offered. Across the eight years of the series, mintages have varied widely from the high of nearly a quarter million pieces to a low of less than 10,000 pieces. This results in some issues which sell for modest premiums above gold value, while others command a significant premium. The variety of finishes, sizes, and mintage levels combine to create many different ways to collect and appreciate the series.

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Comments

  1. Samuel says

    re-post from previous thread:
    —————————————————-

    it is very interesting, the file i downloaded yesterday it was 18919. after saw ur post, i download again, now the number is 18555. the mint dont even know elementary school math?
    today:
    2013 AM BUFFALO GOLD PROOF 1 OZ 18,555
    2013 AM BUFFALO GOLD REVERSE PROOF 1 OZ 47,836
    yesterday:
    2013 AM BUFFALO GOLD PROOF 1 OZ 18,919
    2013 AM BUFFALO GOLD REVERSE PROOF 1 OZ 44,008

    other numbers seem the same.

  2. Wontaker says

    Seems like MR 5 oz is selling OUT!!!!!

    SILVER UNC 5 OZ – MT RSM 2013 ATB SILVER UNC 5 OZ – MT RSM
    2013 America the Beautiful Five Ounce Silver Uncirculated Coin™ –
    Mount Rushmore National Memorial, South Dakota (NQ9)
    Price: $154.95 Qty.
    Product will be available for shipping 12/24/2013
    Add to Wish List
    Add to Cart

  3. Mint News Blog says

    I don’t consider the data final until the weekly report posts. There have been similar differences for other recent sell outs.

    I will see if the US Mint will provide an official revised last sales number for the reverse proof.

  4. says

    The regular proof totals on the two reports could determine whether or not the 2013 establishes a new low. Is it 18,919 or 18,555?

  5. Samuel says

    Brad said yesterday that he cancelled his “in stock and reserved” buffalo based on the 18919 number.

  6. ClevelandRocks says

    As I previously posted, it looks to me that the 18,555 mintage was at a time the ’13 Proof Buffalo was still available, so there may be a higher final number.

  7. Brian says

    My guess:

    18,919 included a few large orders after the backorder notice was up that the mint could not fulfill. Those orders have already been cancelled, which is why they revised it to 18,555.

    18,555 may be adjusted a little bit higher next week. But if was going to be as high as 18,919 the mint would have left the preliminary number alone. Even if the mint only cancels 57 orders from that higher preliminary number, the 2013 will still be the key.

    I jumped on a PCGS PR69 yesterday for about $1660. That was up $30 from when I first looked at it an hour earlier. I’m glad I did as the prices from the same dealer are up another $100 already today.

  8. samuel says

    Brian,
    i htink ur guess makes sense. the mint ordering system could do better. i grabbed a 70 at $1815 yesterday. with gold up abt $30, it is a good deal, plus the 18555 number.

  9. says

    First ever 5 oz ATB bullion graded by PCGS as MS70.

    I was just looking at the PCGS pop. report and noticed 1 5 oz bullion Mchenry was graded as MS70…it’s not PL, or DMPL, but still a 70…I wonder what this will sell for?

  10. Brad says

    Hi guys,

    That order that I cancelled yesterday morning was placed on December 5th at 8:42 pm. The backorder notice had probably been up for less than an hour at that point, because I was checking regularly and it was not there just a short while before. I honestly didn’t think it would pan out, but was surprised that it had moved to “in stock and reserved” yesterday morning. But with so much stuff coming down the pike, along with the possibility of a more even 2014 First Spouse release schedule (thus requiring the funds to be available earlier next year), I made the best decision I could with the information I had at my disposal at that moment. Had I known that the published number would be so much less than the excel number, I probably would have went ahead and let the order go through. But, collectors are such a fickle bunch and psychological perceptions of value are so important that I didn’t want to risk having $1,590 tied up in a coin that might not have enough premium to allow for a quick sale. Plus, I’ve made up my mind not to sell any more coins in 2013 because I’ve already finalized my capital gains tax state withholding for this year. So, who knows what these Proof Buffalos be going for by January 1st when I could try to sell. Perceptions could change by then.

    Anyway, I’m still the proud owner of two 4-coin 2008 Uncirculated Gold Buffalos. The one ounce coin in that set, with the scant mintage of 9,074, should continue to be the low-mintage king of all Gold Buffalos for years to come, if not all-time. It might not be the most valuable at the present time, but it’s mintage will certainly be tough to beat.

  11. zeeman says

    Hmmmm, first the back order date was 12/24 on MR, now it moved to 12/25 on mint site.is that means we are near the end?

  12. HIdalgo says

    @Zeeman – the backorder date will move automatically one day at a time until the product is ready to ship or you’re told that the product no longer exists.

  13. Matt says

    Hi all,

    The Denver Mint gift shop has 16 of them (proff gold buffalos) I just got off the phone with them and got one. Early bird gets the worm. Hope everyone gets one.

    Denver (303) 572-9500

    Matt

  14. Brad says

    Matt,

    Thanks for the redemption opportunity. I decided to gamble after all and ordered two of them myself. Now I hope they still bring a premium by January 1st! 🙂

  15. Louis says

    It’s interesting that none seem to be listed on the Bay. People are waiting to see how to price them. And dealers are out. Anyone seen a recent price?
    I figure it has to go up a grand or more eventually just based on the 2012 coin that is at about that level with a higher mintage. It does not need to reach the price of the 2008 coin to be a winner.

  16. TMMSR says

    This coin will be a winner. The low mintage along with the fact that there will be a lot of “old maid’s” (reverse buffalo proofs) that cannot find a partner to go to the dance with. In the months and years to come collectors will definately want to partner their Reverse Proof with a the Proof.

  17. joe says

    I think getting them from Denver would be a good way to go. I would be surprised if they are getting returns shipped to them to resell.

  18. thePhelps says

    Joe – Aramark buys the coins to sell – based on the discssion around the 2013 WP ASE sets that were sold by both the Philly and Denver booths… It doesn’t sound like a buy returns to sell program since many bought the WP set and were satified with them.

  19. Matt says

    Fed-Ex

    Steve says:
    December 10, 2013 at 2:46 pm
    I forgot ask ask when the Denver rep when said they would ship overnight…will that be Fed-ex or UPS? thanks

  20. Louis says

    Steve- FedEx- and should be here tomorrow.

    And based on the previous threads I think these coins were already included in the total. The # could be even lower if some pending last minute orders get cancelled as often happens plus cc issues, etc.

  21. Zaz says

    Aramark is a regular customer of the Mint just like everyone else. Their coins are already included in the total.

  22. Brad says

    The number close to 18,500 does make sense, as that would make the “second pressing” about 3,500 coins. The original backorder notice appeared after about 15,000 were sold.

    I’m still wondering what’s the deal with that excel number of 18,919? The Mint normally doesn’t remove unfillable orders from the reported sales number so quickly, if ever. You usually have to wait for final audited mintage numbers, which normally takes years.

  23. Louis says

    The plot thickens………..

    I think the 2008 coin will still sell for more even if the 2013 is comfortably lower, but the 2013 will still do very well.

  24. joe says

    I already had one that I probably paid too much for, but congrats to everyone who was able to get one.

  25. Louis says

    Even so it will be a very small difference, basically a mintage tie. Other factors will come into play in determining future price.

  26. Louis says

    Tip of the day: If you missed out on the awesome high relief 25th anniv. maple leaf, Silvertowne has ’em on sale for $95 with free shipping.

  27. VABEACHBUM says

    I had acquired my 2013 PR Buffalo when gold hit that interim low during the 4 week sales window for the Reverse. I might have saved $100 by waiting a little longer, but I like having the ability to deal with returns early, if necessary. Fortunately, I received an outstanding strike with the first try.

    @ Louis – I agree w/ your thoughts on pricing for the PR 2008 always being a little higher, but after a minor downward adjustment. That 2008 year will always be special for the Gold Buffalo series, with individual fractional coins, the fractional sets, the pricing grids and the truncated sales patterns, but the downward trends for 2012 and 2013 populations have helped to create a little bit of equilibrium within those higher demand, 1 ounce coins.

  28. HIdalgo says

    From what I’m seeing on eBay so far, the 2013 W $50 proof buffalos are selling for a premium, but not nearly as high as the premiums for comparable certified/uncertified versions of the 2008 W $50 proof buffalos.

    Even if it is verified that the 2013 W buffaloes have lower sales numbers, the 2008 W version will have higher secondary market values because of the “surprise” factor — few, if any, speculators, flippers, and dealers anticipated the 2008’s sellout. Thus, they did not have time to build up their inventories to increase supplies, forcing them to bid up prices on the secondary market.

    I wish all of you who chase low mintages — and speculate that secondary market values will increase for such coins — all the best. Good luck to you.

  29. Ray says

    well said Charles. In addition to needing next weeks sales totals, I need final mintage #’s for the 2014 Gold Buff, and the 2015, and the 2016. I’m interested in the 5, 10 and 20 year outlook on this.

    For me, it seems odd that theres a possible low mintage during the 100th year anniversary of the design.

    bring back the fractionals!!!!

  30. Ikaika says

    @ Hidalgo

    It appears that most of the people here are chasing mintage these days. I still like the RP buffalo over the proof design. It is unique (so far) and looks great!

  31. KEITHSTER says

    Congrat’s swift move gentlemen on the rescue of the buff’s from Denver:) Don’t have the funds or phone or credit card to pull that move off. My debit card is waiting on the general should he show up hope they check it when the funds are in? You guys plan on breaking him out of denver too or all ready have some? Whats with the 500 boxes must be the free shipping? Like I said earlier have a proof to go with my reverse not the right date but to me it’s no cry> Just wanted to say way to go and Good luck to ya:):>

  32. Tom says

    All things considered, I’m surprised that the lowest mintage
    ’08 1/2 ounce Buffalo proof isn’t selling for $2,500 or more.

  33. Gina says

    Does anyone think the premium for the 2013 ANA Chicago REGULAR Proof Buffalo will increase now that the mintage may be a new low?

  34. Zaz says

    @Blackbeard: not going to happen. Do you realize that after the Edith Wilson debuts next week, there are going to be 10 coins remaining in the series. There is almost certain to be a spike in popularity for Eleanor R., and for Jackie O., all bets are off. Most certainly the current series will end with Betty Ford, and at some point say a few years afterward, Congress will amend the legislation and there will be coins for Rosalynn, Nancy and Barbara (as well as their husbands.)

  35. rpw says

    Thanks MintBlogNews for bringing attention to this sleeper months ago.
    Because of your article, I purchased the regular proof when I purchased the Reverse Proof 2013 Buffalo, hoping the regular proof would indeed be a sleeper and low mintage. Keeping my fingers crossed because both of my coins graded as 70’s. I’m guessing I could get a nice premium for the set but since they are my only buffalos, I think I’ll hang on to them!
    Mint Blog News ROCKS!

  36. ann says

    The below mintage for the Proof buffalo was due to folks buying the Reverse.
    I collect the reverses but the regular proofs are more pleasing to the eyes, more
    detail of the coin comes through.

  37. Dustyroads says

    Good luck to you keithster on that general being on time and slipping quietly in through the side door! Good luck.

  38. TMMSR says

    Sith – the two buffalo coins that were showing as backordered last week went thru on Monday. My credit card has been charged the fee, and I am simply waiting for delivery.

  39. says

    Just received my 2013 GPB’s that I ordered yesterday from the Denver gift shop. That was FAST…21 hours from ordering to in hand.

    Great looking coins….THANKS again Matt !!!! for the info on the availibilty of these “sold out” coins yesterday.

  40. KEITHSTER says

    Thanks Dustyroads I hope so but it’s not looking good for the old man seems if they had any they would send them on their way? I think He’s MIA they just keep the 12-30 date because they have to make it look like it was for sale till the end? So the gift shop maybe the way to go? For me it’s down to gas or gold and it’s down to -20 below tonight so the heat is looking good and will have to put in a order for propane before it runs out! so it’s first come first served:> But there is stll a chance my order went in around noon on the 6th so I’ll let you know if I see Him thanks again and Good luck to us all :>

  41. Matt says

    Anytime, that’s why I love this site. You’ve all taught me through the years. I should be getting my coin today too. I wonder if anyone called the other mint gift shops to see if they were sold out of Proof Buffalos?

    Matt
    Steve says:

    December 11, 2013 at 10:45 am

    Just received my 2013 GPB’s that I ordered yesterday from the Denver gift shop. That was FAST…21 hours from ordering to in hand.

    Great looking coins….THANKS again Matt !!!! for the info on the availibilty of these “sold out” coins yesterday.

  42. ABC says

    So, you guys think everyone who placed an order for the 2013 Gold Buffalo Proof within the first 24 hours of the coin being put on back order would eventually receive their order?

  43. Dustyroads says

    I think keithster that the Mint is producing the coins, they are just trying to not overproduce. They are minting to order, that’s why the backorder status has been moved all the way to the end of the month. BTW, I ordered on the same day as you, with the hope that the mintage will be low. If it’s not, well ok, precious metals will continue to be sought after and all will be fine. Say, do you think anyone will ever do anything about the jerks in the EU playing with the London Fix with their paper deals? I would do anything to know the REAL gold price!

  44. Louis says

    @Dustyroads- Thanks a lot.

    Two unrelated points:
    1.) Provident has a new video that shows an employee opening a Mint monster box of Rushmore ATB’s and the first coin he looked at had die polishing and other marks. It should be on the site, but I saw it on their newsletter.
    2.) For those who follow special #’s on certificates, I received a coin that was #888 of 888. Do you think that has special value?

  45. VABEACHBUM says

    @ Dusty – I read that article first thing this AM after finding the link in Michael’s latest Coin Update Roundup. It contains some great commentary and insight from our very own Louis!!

    @ Ann – That is THE question, without a doubt. The grading scale does have criteria associated with it, but the process is almost entirely subjective based on the individual grader’s knowledge and experience, their interpretation of the criteria, and how they apply that criteria to each coin – gold, silver, platinum, PR, UNC, SP, Modern, Pre-Modern, Collectible, Circulating, etc. While grading does have it’s place in our hobby, and especially where authentication is concerned, I continue to be an OGP collector.

  46. KEITHSTER says

    I don’t know dusty don’t seem like the way they do it? The other two I have on backorder seem to be moving in opposite directions one back one forward? Seem’s you need the code- talkers book on them dates? As for your fixers they’ll never change that’s how they make their living raise ur up all week then dump it and spend the money on the weekend that’s why they don’t deal in real:) They must have some of the backorder stuff for the 17th though cause that one is moving up ? GOOD LUCK :>

  47. says

    Yes, great article Louis!!.

    Along toise lines of perceived “rarity” APMEX is selling that McHenry PCGS MS69DMPL First Stike for $1230 by cc, $1195 by check…you would think at this price they would be very rare…well, they have 94 of them in stock.

  48. Louis says

    Thanks, Steve. If you check the pop report the # of those “rare” coins keeps going up. There are currently about twice as many Rushmores as McHenry’s in that grade, yet look at the difference in price. And those McHenry’s were 50% more not long ago.

    Which is why I think Matt’s tip is very useful. Seems like a good buy.

  49. Louis says

    I do see that Steve. Will be interesting to see if they sell it.
    I just recently noted that with quality getting better this could happen.

  50. Sith says

    @ABC – If your still back ordered after the sellout its hard to tell. The more important thing is not how long you put the order after it went into back order status but how long did it take the coin to reach sold out after you placed the order. Earlier I stated that back order is not the same as wait list but once a coin is sold out its gone, and all bets are off. personally I would think most if not all the back ordered coins placed within 24 hours are safe as the mint should take into account the current sales before declaring a sellout, but…

  51. Louis says

    Thanks a lot, Asian Guy. It’s a lunar horse coin too, so if I decide to sell it, I will play up the cert. #. Come to think of it didn’t someone pay thousands for the last numbered Canadian penny roll?

  52. Louis says

    No though I saw those are unavailable.

    It was the Cook Islands 5 oz with huge red mother of pearl high relief insert! It’s amazing and the horse looks like it was hand sculpted. I ordered it several months before release to lock in a significantly lower price than what it is now going for. And the packaging is also very impressive and classy. 2nd best horse coin after the 5 oz HR gilded Niue coin.

  53. Samuel says

    CO, i got the 2-coin set, not that good as it looks like in the picture. also, first time, the capsule is loose.

  54. fmtransmitter says

    Play it up, play it up. Great for the hobby of COIN collecting. It will sell on it’s own for extra. I notice when sellers try to “play it up” they shy away. IMHO if you simply post the specs and details and be proffessional you will come out ahead than “play it up”. Why sell it? Your odds were 1 in 888 to get the last certificate OR they were all stamped 888 because of the Year of the Horse. LOL

  55. Louis says

    FM- I have not decide to sell it. Was only asking for input. By play it up I only mean I would mention the #, and no they are not all stamped 888.

  56. Matt says

    I got my gold buffalo from the mint gift shop just moments ago. The one I alerted everyone about that they might want to buy. It was everything I’d hoped for. A beautiful coin for sure. With 16 for sale I thought “pig make money and bears make money but pigs get slaughtered”. That’s why I bought one. Happy collecting.

    Matt

  57. Jon in CT says

    Louis wrote on December 11, 2013 at 1:03 pm:
    Provident has a new video that shows an employee opening a Mint monster box of Rushmore ATB’s and the first coin he looked at had die polishing and other marks. It should be on the site, but I saw it on their newsletter.

    Shortcut:
    http://www.youtube.com/watch?v=5rpjF9m45is

  58. Louis says

    FYI- The DC shop is part of the Mint and never sells after an official sell-out.
    If they get a call at noon saying a coin is gone, they will pull it and won’t sell to anyone. I also don’t think they will ship, only in-person sales. Philly and Denver are privately-operated.

  59. larry says

    Question for everyone. Does PCGS or NGC create special designations such as ANA chicago on their own acord or are these born due to a number of customers requesting this.

    Just thinking about these orders from the gift shops being discussed above or other special cirumstances.

  60. Louis says

    Larry- I think it was the TPG’s decision based on the fact that the product was launched by the Mint at the ANA Chicago show.

  61. achmed says

    seems to me the USMINT does not know itself how much the mintage was. On the 17th of December (for the 15th of dec) they stated in their report that the mintage was 18907, one week before they said it was 18555 (or 18919). Now we have the 18th of December and the number reported for the 15th of december is 18596. Which I would appreciate the most.

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