2014-W Proof American Gold Buffalo

Tomorrow, May 8, 2014 at 12:00 Noon ET, the United States Mint will begin accepting orders for the 2014-W Proof American Gold Buffalo. The latest annual release follows the excitement surrounding last year’s reverse proof version and the early sell out of the standard proof at a low mintage level.

2014 Proof Gold Buffalo

The American Gold Buffalo coin series was launched in 2006 as the first 99.99% pure gold produced by the United States Mint. Under the authorizing legislation, for the first year of issue, the coins were required to carry the original designs created by James Earle Fraser for the 1913 Type 1 Buffalo Nickel. This classic design features the portrait of a Native American created from a composite of real life models on the obverse paired with the iconic image of an American Bison on the reverse. The authorizing legislation specifically provided that the obverse or reverse design could be changed after the first year of issue, however this option has not been exercised and the designs have remained the same throughout the series.

For the first two years of the series in 2006 and 2007, the coins were issued in 1 oz size in both bullion and proof format. In 2008, the number of numismatic versions was vastly expanded with fractional weight proof coins in 1/10 oz, 1/4 oz, and 1/2 oz sizes in addition to the 1 oz size. Collectible uncirculated versions were also offered across the four different sizes. Amidst a broad retrenchment in the US Mint’s numismatic product offerings, the newly introduced versions were discontinued after the close of the year.

From 2009 to 2012, the offerings reverted to the original 1 oz size bullion and proof versions. For 2013, the US Mint offered a 1 oz reverse proof version of the coin to celebrate the 100th anniversary of the design, which was available to order during a four week window. The reverse proof coin reached orders of 47,836, while the standard proof remained somewhat under the radar and sold out early with last reported sales of 18,594.

For this year, the offerings have reverted to the standard 1 oz bullion coin released on January 2 and the 1 oz proof coin released tomorrow.

packageThe 2014-W Proof American Gold Buffalo is offered without an indicated mintage limit and there are no household ordering limits in place. The coins are priced according to the pricing grid for numismatic gold and silver products and may be adjusted weekly. For the start of sales, the coins are priced at $1,640 each based on an average gold price within the $1,250 to $1,299.99 range.

Each coin is struck in 1 troy ounce of 99.99% pure gold with a diameter of 1.287 inches and a reeded edge. The “W” mint mark appears on the obverse to signify production at the West Point Mint. The coins come housed in an elegant hardwood box with matte finish and are accompanied by a certificate of authenticity.

It seems possible that this year’s offering will see stronger demand than the prior year. Following heavy demand for the annual Proof Gold Buffalo in 2009 and 2010, sales levels had marked declines for the next three years. This seemed to culminate with the low reached in 2013, when collector demand was divided between the standard offering and the special reverse proof. If sales mark a gain compared to last year, this would solidify the status of some of the lower mintage issues of the series.

The current lowest mintage for a 1 oz proof Gold Buffalo is held by the 2013-W at last reported sales of 18,594 pieces. The lowest mintage for any proof Gold Buffalo is for the 2008-W 1/2 oz coin with a final audited mintage of 12,169. The status of lowest mintage for any Gold Buffalo coin is held by the 2008-W 1 oz uncirculated coin at a final audited mintage of 9,074 pieces.

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Comments

  1. VA Bob says

    LOL for all the past remarks about HSN or Coin Vault rip offs, it appears that mentality doesn’t only apply to those hucksters. All my BHOF coins, one of each denomination and finish, has been received (12:13 order), examined, and put up for almost a month now. All were Super Duper Early Release (SDER) shipped within two weeks of going on sale, PF Super Eye Popping 3D Cameo or MS Ultra Silky 80’s with a population of one of one each in the VA Bob pop report (the definitive last word in ultimate premium labels). If I had to sell them they would have to list for $100k or best offer, that’s the clads of course, the PM versions would be list for more. I swear it’s all true, I typed it onto a label and taped it to the OGP, so how could it be wrong? Ebay here I come, think I’d get any takers? Of course I would. Maybe not at that price, but some inflated price.

  2. Jeff Hall says

    Everyone needs to step back the mint has not charged you one dime, so technically the mint owes you nothing. You have an order that does not guarantee you the merchandise. Every one chill supposedly most here are not in it for the money. EXCEPT ME I have sold, submitted, stashed and loving every minute of this .

  3. Dave says

    Steve
    I will wait until the hedge funds decide to reverse from shorting gold to covering and buying. They are trying like crazy to get it back below $1000, but having difficulty because of Eastern demand. If they can break $1150 on the spot, they have a shot at $1k. This is typically a weak time of the year for gold. Hopefully I can buy below $1200 before July 4.
    Geopolitical events can change it all, though.

  4. fmtransmitter says

    Hidalgo says
    MAY 8, 2014 AT 7:02 PM

    @fmtransmitter – just curious. I presume you are referring to a First Strike PCGS 9/11 Commemorative. Did you buy this coin from a dealer? Or did you have it certified?

    If you decided to have it certified, just wondering why you picked this particular coin over 100s of others.
    Was $30 shipped!

  5. Dustyroads says

    fmt, Thanks for the heads up. One of these would complete my silver set. Timing is off right now though, I have to keep on eye on the budget. Maybe someday they can be found for less than $100. per oz. Probably not , oh well.

  6. fmtransmitter says

    @Hidalgo: Just found out it was mis labeled. Any premium for mis labels? They marked it a W mint but it is actually a P Mint version. Good for me. Lower pop. Ha!

  7. VA Rich says

    “Samuel says

    Jon, it is difficult to tell. remember those $570 pre-sales? i think the PF/MS70 will reach $2K.”

    I think we’ll see them start inching up that way in 6-8 weeks; within the next 4 weeks the last of the of label coins will hit the market and then there numbers will diminish, and they’ll go quick. It’s apparent from the other posts above when you have first timers dropping a grand on the their first coin and current market trend that the baseball enthusiasm is behind this one now and here to stay for quite a while.

    Regarding market saturation when the mint does begin shipping, ahhh, maybe somewhat.., I also see a lot of people holding on to their coins because they purely want them or if they do plan to sale, perhaps take a wait and see attitude. By the time the coins are received, they’ve had a lot of time to think it over and personally, I think they’ll be enamored by what they find.

    I do know this, we’ve all been wrong to some degree about this offering in the expectation of how the mint would roll it out and the subsequent demand/market value…, though the naysayers on the BHOF have been consistently wrong, so consistently wrong it’s getting comical.

  8. Larry says

    Another day and another different shipping date for my silver BHOF. I think there is a mint employee with a Ouija board figuring out shipping dates. The mint is lucky they have no competition. I think they should just say “you’ll get it when we ship it”. It would at least be honest.

  9. VA Rich says

    Congrats Steve – they’re so very impressive in hand. The 1 oz’s HR have really taken off recently.., it’ll be on of those World coins for the ages!

  10. stephen m says

    Larry, I thought everyone knows the hold up of the BBHOF coins is because the paper work to rectify the current situation is sitting on someones desk at the Mint. When the person that sits at that desk decides what to do an e-mail will be sent to all employees at the Mint, involved in the coins continued process, of a date for a meeting. When that day comes and after the meeting takes place our coins will follow in short duration. Mean while the future of our coins will just sit on that desk collecting dust. This is how it works at all government entities. Only in America.

  11. VA Rich says

    MK – I sent my NGC coupon coins in on Friday, 02 May via 2-day Priority, they’re scheduled to be delivered today. That’s a quick turnaround.

  12. mark says

    Steve ,,,how did you get the 5oz wedge tailed shipped for $445.00. I put one in cart and its $440.00 before adding $25 to $36.00 shipping options?

  13. mark says

    Thanks Steve… shit i was hoping you knew of a coupon code…oh well. Still debating on getting one.

  14. Matt says

    OT – New reader, and collector. My grading results just posted on NGC’s website for my BHOF order.

    1 – Clad 50C Unc – MS70 ER
    1 – Clad 50C Proof – PF69 UC ER
    1 – Silver $1 Unc – MS70 ER
    4 – Silver $1 Proof – PF69 UC ER
    7 – Silver $1 Proof – PF70 UC ER

    From what I read I am lucky to get that 70 on the clad uncirculated; guess i’ll have to pick up a 70 clad proof on ebay. I am still shaking my fist about my decision not to pick up one each of the gold when I placed my order on 3/27 🙁

  15. TheCoinKeeper says

    Anyone else not showing the full list of comments? Seems to just show the last days worth.

    Mine start at MAY 8, 2014 AT 9:36 PM for this post.

  16. Clark says

    thePhelps wrote: “While we might have expressed great interest in the coins – even the mint didn’t know it was going to be this popular until just before they went on sale.”

    Although its botched fulfillment of orders to date may make it seem like the popularity of BHOF coins came as a complete surprise to the mint, I clearly recall US Treasurer Rosie Rios’ prediction of heavy demand for BHOF coins at the March 27, 2014 launch event on Capitol Hill. I watched streaming video of the event on the 27th while I waited in the mint’s virtual waiting room to place my order. It was Rios and other speakers’ enthusiasm and predictions of same day sellouts that moved me to place multiple orders for gold BHOFs. (Thanks guys!)

    Maybe they were just lost in the exhilaration surrounding the launch, but if Treasurer Rios knew that BHOFs would sell out on day one, the mint’s deputy director, who also attended the event, must have known as well. Just sayin! I’m really starting to believe that serious technical glitches are behind the delays.

  17. thePhelps says

    Clark…March 27th… if you recall that week they implemented the household limits because they had a surprisingly overwhelming amount of interest. These will start rolling out before long.

    So the mint was supposed to drop all production plans and go start pressing these?

    I said it before – it does appear many of you have never worked in a production facility…

  18. Clark says

    thePhelps–I hope you’re right and I respect your production line experience. I’m just suggesting that the mint’s senior managers and marketing teams, maybe not production line managers, knew or should have known that demand for this commemorative issue was likely to be unlike any others before it. Of course, hindsight is always 20/20!

    I worked for two Fortune 100 manufacturers with huge production facilities around the world and can attest that senior management and production lines are not always in communication.

  19. Louis says

    I am a bit late on this point but regarding the NGC ER MS70 halves (BHOF) on sale for $112, I got one to round out my set of coins with the same label. I would not expect prices for this one to drop. I rarely see it offered except for those on the Bay and one dealer where they were $150 and more.

  20. Samuel says

    Louis, thx for the info. unfortunately, my other coins’ labels are ER, his is FR.

  21. Dustyroads says

    Louis, Another update- 12 more available with 4 sold in the last hour. 🙂

  22. says

    @bc, If you go to the persons ‘store’ you will see that 2/3 of all the items are marked as “SALE” items and marked down.

  23. Louis says

    Thanks, Charles. I thought so. To me if the labels all have the BHOF logo and same grade and are either ER or FR that is good enough for a matched set.

  24. DCDave says

    Congrats to all that bought the BHOF from the Mint.
    Never thought buying 1999 silver proofs made sense when they cost so much (didn’t think they had much up-side, but were “trendy”, and don’t think it makes sense to buy expensive graded BHOF now. Not much up-side either IMHO. Only the gold UNC have a somewhat low mintage.

  25. hw says

    Louis:

    The “FR” designation is more recent development (within the last three or four years) that seems to mimic PCGS’s “First Strike”.. For whatever reason, NGC felt it necessary to maintain both old and new labels.

  26. simon says

    Put in my order for the 2014 Pr Buffalo this pm.

    OT: Picked up a 1964 USMint set and it has a pointed “9” 1964-P Dime; also FB !

  27. Pittsburgh P says

    Just got back from a local PAN coin show and there were basically zero BHoF coins available… I saw 2 silvers and a handful of 69 baltimore label clad and silver from dealer who had a table at that show. I wasn’t planning on selling any of mine but took 2 each silver proof and unc… Was contemplating having them graded there but only ANACS showed up. Sold 2 for 130$ each in ogp and traded the other two for the 2001 american buffalo silver set.

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