2013 Reverse Proof Gold Buffalo Coin

Proof BuffaloLate yesterday, the United States Mint officially confirmed that they will offer a 2013 American Gold Buffalo One Ounce Gold Reverse Proof Coin.

This special coin will be issued to celebrate the 100th anniversary of the design created by James Earle Fraser for the the Buffalo Nickel, which was minted for circulation from 1913 to 1938. The obverse features the portrait of a Native American created based on a composite of real life subjects. The reverse features an iconic image of an American Bison or “buffalo” believed to be based on Black Diamond of the Central Park Zoo.

The popular design has been used for a commemorative silver dollar issued in 2001 and for the 24 karat gold bullion and collector coin series launched in 2006.

At this time, some preliminary information is available about the 2013 Reverse Proof Gold Buffalo. The coin will be sold separately- not within a set as previously proposed within a customer survey distributed in late 2012. It will be packaged in the same wood box as the regular Proof Gold Buffalo, however the outer box will feature a leather-like material to differentiate the product.

The reverse proof coins will be minted to demand at the West Point Mint. An on-sale date has not yet been established. The regular proof coin is currently scheduled for release on May 23, 2013.

According to the Mint, the price for the reverse proof Gold Buffalo will be determined based on the pricing structure for products containing gold and platinum. This means that the price level will be based on the average market price of gold and may fluctuate weekly. The current pricing grid can be found here. I am trying to confirm whether both the reverse proof and regular proof coins will be priced based on the column “American Buffalo 24K Gold Proof” or whether a new column will be created specifically for the reverse proof coins.

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Comments

  1. Rich says

    Well, if the stampede on the WP ASE set continues, I’ll be pulling back on any multiple purchases of it for this baby.

    Tuesday’s sale numbers will be interesting, if some of you guys are right with sales 80-100+ in the first 36 hours with 25 more days to go, mintage could go through the roof.., at least it’ll be pretty to look at.

  2. Mint News Blog says

    I should be able to get an indication of the opening day sales for the West Point Silver Eagle Set. I will post the data as soon as I receive.

  3. Rich says

    Much appreciated Michael!

    Has turned into quite an interesting year with the Teddie & War College sets still hanging out there – thanks Mint!

  4. John says

    I can’t wait, unfortunately I will have to sell some stuff to pay for it but it should be a nice “Key Date” no matter how many are made. I’m sure the late release date and “mint to demand” will keep numbers low. It will definitely be lower than the UHR Eagle.

    If we go back to higher gold prices at the end of the year I would say final mintage below 35K maybe even below 20K if the release is in late Nov. or Dec., most Americans just don’t have the money for these things, myself included.

  5. Dan in AZ says

    Now if they could offer an UNC version of the reverse proof – that’d be the one that I would go for

  6. Ikaika says

    Thanks Michael for the info. I am sure most of us are looking forward to this release. Hopefully it will be towards the end of Nov-Dec so it will give some of us time to save for this purchase :)

  7. VABEACHBUM says

    Thanks for the updated info, Michael.

    I’ve been saving up for the possibility of this coin ever since the rumors started swirling last year, and I will add one in OGP to my on-going Gold Buffalo collection.

    At this point, though, I don’t see this being a “key date” coin, per se, for the Gold Buffalo series. However, it will be a “must have” for a comprehensive Gold Buffalo set. I think the 2008 issues will hold the key date spot for some time to come, but especially as a lot of speculators will buy 1 or 2 of these pieces in hopes of capitalizing on the uniqueness of this particular issue. Similarly, if spot gold continues to waiver within current pricing, or fall even lower, this coin will become more affordable that the 2011 and 2012 issues.

    I also think that some collectors in today’s economies will be forced to choose either the 2013 PR or the 2013 REV PR issues and, again, in focusing on this special issue, will default the 2013 standard PR issue to lower sales numbers – probably below the 2012 but above 2008.

    Regardless, I’m in for one, and cannot wait for it to arrive.

  8. fosnock says

    If gold is down when this come out I will have to seriously look at getting one

  9. Brad says

    Dan in AZ,

    A “Reverse Unc”? That would be a neat trick, since there are no contrasting fields on an Unc to reverse. Maybe they could effectively “reverse the negatives” and have the Native American face left and the Buffalo face right. Maybe I’d better not say that too loud, as it might give them another idea to try to sell us yet another coin. A lot of us would buy it, too. :)

  10. EvilFlipper says

    This will be interesting…. Will the RP bite into the sales for the proof?! I don’t like the mint to demand UNLESS we can be certain this is the only year they will make a RP buffalo. If that’s the case then get a few! If it performs on the same level as the UHR and stays under 100k then it will be a winner. I hope gold drops another 2-300$ before these come out! I’m not saying gold is bad or is priced correctly, but I would love the price to drop so I can make more on the spread AND buy more cheaper.

  11. Hidalgo says

    Since the coin will be sold separately and not as a set, and since the coin will be minted to demand, I suspect that mintages will be higher than for the regular proof gold Buffalo coin. If so, it will be interesting to see how the secondary market will react and how it will impact values….

  12. Zaz says

    Too bad there isn’t any fractionals, the 22mm 1/4 oz would make a nifty companion to a high MS Type I nickel… Ah well, at least we have this chew one. Time to save up some pretty pennies!

  13. joe says

    I would really like to get one of these coins! Anything “buffalo” is great in my humble estimation.

  14. John says

    ZAZ, I wish they would bring back the fractional Buffalos as well. I know the mintage for 2008 was low but with the price of gold where it is now the Mint would be wise to start making them again.

    I actually prefer the 1/4 & 1/2 oz Gold Buffalo over the full 1 oz size. Since the Indian & Buffalo fill the full field of the coin you don’t lose that much detail. With the AGE I prefer the 1 oz size so I can see the details better.

    Here’s a link to the RP photos that I just found: http://pinterest.com/pin/208291551488494598/

  15. Samuel says

    since i am pretty new for this hobby, i dont know much of the history of gold coins. can Michael or anyone write something about history of different types of gold coins, except 1oz proof/Unc/BU? the things i knows of include 96 RF gold eagle, 09 UHR, 08 buffalo fractional.
    if the summary includes issue price, spot at that time, how long it lasted….of course, mintage…etc, that would be great.

  16. Crohnos01 says

    Wow… I just had to pull back a few of the WP Anniversary sets I placed on order to keep some dry powder for one of these… That’s way too nice to pass up.

  17. says

    Is that 140,648 orders taken or SETS sold? I bought FIVE sets for family gifts! Beautiful coins! I can hardly wait to see them!
    Regarding the Buffalo coin, (reverse proof) I sure would like one! I have bought in the past and it is a beautiful coin!
    Trying to save up for so many special products offered this year! Good luck to all coin lovers!

  18. says

    I just re-read the post at the beginning of the article and think it is 140,648 SETS sold and not orders taken! WOW! that is alot for the first day! But a very special coin!

  19. VABEACHBUM says

    @ John. Not sure how you came across that link, but thanks for making it available. They appear to be some pre-show set-up pictures from New Orleans.

    I just finished viewing the pics of that REV PR Buffalo and…. MOMMA LIKE!!! I’m even more motivated to ensure I have adequate capital available when that coin becomes available.

  20. Brad says

    It is a nice-looking coin, and I’m sure I’ll buy one. I don’t think it will be a secondary market winner like the 2009 UHR though, simply because that coin was so unique. This will be the first of most likely more to follow Reverse Proofs in the Buffalo series, and the mintage will most certainly be higher than the 2007-2012 standard Proof Buffalos. It won’t be as high as the 2006 (especially since that was the first year of issue and only cost $800), but it will likely be more than all of the other years, even 2007.

    I don’t think the “reverse” aspect of it will draw enough collector interest to counter a six-figure mintage, but in this case I’ll enjoy owning one just because I like it. I still own a 2006 proof, because I like the way it has the old-style finish before it was changed in 2008. I like the look of that better than the ones they’re making now, but that’s my personal preference.

    Maybe we’ll luck out and the mintage won’t reach six figures, since these will cost a LOT and the collector base for standard proofs seems to have dropped off somewhat. Maybe there will be between 60,000-75,000 sold.

  21. VA Bob says

    Looks like the regular proof gold Buffalo is going to be the real winner. Many will be saving limited funds for the RP. We’ll see how it all plays out. I have all the proof buffs since they came out in 2006 (and a few of the 2001 silver buffs too), so I’ll be get one of those, and the RP for what I hope will be a one year unique coin. Sure wished they smoothed the background field to accent the devices even more, but I’m sure it will still look nice.

  22. VA Bob says

    Still wish they would do a one year five cent buffalo piece to celebrate the $100 years. Besides the “cool” factor, many folks can’t afford the the gold pieces. Why not include them in on the anniversary? US Mint remember many of your customers started off small.

  23. says

    I’m all in for the reverse proof Buffalo. I could care less what the mintage is for the regular proof…been there, done that. I want something different.

  24. Natatack says

    I think it would be great if they could do RP fractionals to put a different spin
    on things.

  25. JosepH says

    Is this a one-year deal or from now on, we will have a gold buffalo reverse coin every year? anyone knows?

  26. Wylson says

    Natatack said “I think it would be great if they could do RP fractionals to put a different spin on things.”

    Yes, fractionals as an option would make them more affordable.

  27. joe says

    I agree that a 1/2 ounce RP coin would have been more unique and definitely would have sold better due to the lower cost. But since when has the Mint ever done anything that was practical from a business perspective?

  28. john r says

    The coin is ugly as sin in the photo on the link, hopefully we can get a better view soon.

  29. says

    I never did like the appearance of the proof finish on the American Buffalo Gold coin. The textured fields on the coin just didn’t look appealing to me in proof but look great on the 2008-W burnished specimens. This reverse proof will be a beauty & I’ll be in for one of these for my collection (in original mint packaging & COA… no slabs for me!)

  30. MT says

    I was really hoping for a glow-in-the-dark Buffalo, or at least a glitzy hologrammed coin.
    But, ok, I’ll settle for the reverse proof I guess.

    Since it won’t require buying a two or three coin gold set, I expect people will pile into this coin like lemmings… and I’ll be one of them.

    This advance notice gives the TPGs plenty of time to plan out how they can maximize their profits with FSs, FFSs, PF70+, and all those must-have labels.

    Golly, I just can’t contain my excitement!

  31. Mark in Florida says

    I agree with Gary that the textured proof background looks really ugly. A normal mirrored background would have looked much better.

  32. Ray says

    Looks like gold will be decreasing for the 7th day in a row. We may see next weeks repricing hit the 1300-1350 mark. Where is the bottom to this slope. Small daily decreases in gold is more frighteneing than a 1-2 day $100 drop. Maybe individual investors are cashing out their gold to take a gamble in the stock market? who knows.

    Cant wait to buy my first golf buff directly from the mint!!

  33. Athalon says

    If the reverse proof is made for just one year , no doubt this will be a HR.
    Again these low mintages and a soft economy may not bring many takers to the sales arena s in 2008. The numbers being produced each Tuesday gives one an idea of what might be worth an investment .

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