There have been reports that sales of the United States Mint’s 2013 Reverse Proof Gold Buffalo are off to a strong start. Within the first 30 minutes of availability, orders were placed for 12,630 units, which already surpasses the most recently reported sales total of 12,297 for the regular proof version of the coin.
The US Mint began accepting orders for the reverse proof coins yesterday August 8, 2013 at 12:00 Noon ET. Sales will continue to be accepted during a four week ordering window ending on September 5, 2013 at 5:00 PM ET. Production will be determined based on customer demand during the specified ordering window.
Within the initial 30 minutes, the high order total may have been driven by one or more larger orders placed by dealers or mass marketers. In total, there were 2,641 orders placed for the 12,630 coins, which works out to a rather high average of 4.78 coins per order.
As we have seen with other special products offered during an ordering window, the torrent of initial orders may be followed by a quick decline in the pace of orders to a much slower but stable level until a final burst of last minute orders.
For the two previous sets offered during ordering windows, the first day sales ended up accounting for roughly half of the overall sales totals. For the 2012 San Francisco Silver Eagle Set, first day orders accounted for about 55% of the unadjusted final reported sales total. For the 2013 West Point Silver Eagle Set, the opening sales accounted for about 49% of the last reported sales total.
The US Mint has confirmed that a sales odometer will be placed on the product page for the 2013 Reverse Proof Gold Buffalo, which will allow for tracking and comparisons during the period of availability.
Update: According to the sales odometer posted on the product page, opening sales have reached 21,009.