2009 Gold Buffalo Bullion Coin Sales Blistering

by CoinNews.net on October 19, 2009 · 3 comments

2009 Gold Buffalo Bullion CoinDemand for newly issued 2009 Gold Buffalo Bullion Coins is proving to be exceptionally hot. From their release on Thursday through to Monday, 71,500 of the one-ounce, 24 karat gold coins have been sold by the US Mint. That represents nearly 42 percent of the total sold in all of 2008.

In contrast, the one-ounce American Gold Eagles Bullion Coins have a sales tally of 63,500 for the first 19 days in October. It’s not that this figure is shabby, it’s not. They are just not on par with the couple of day sales numbers of the Buffalos.

Of course there is a major distinction between the two gold coins other than their design and composition — the Gold Eagles are struck from 22 karat gold versus the 24 karat in the Buffalos. While the Gold Eagles have been available all year, the American Buffalos have been suspended for some 10 months. That delay helped foster demand, and there is also a bit of catch-up in the wind.

The following table shows 2008 and 2009 Gold Buffalo sales as well as 2009 American Eagle Gold sales.

US Mint Sales of 1 oz Bullion Coins

  2008 Gold Buffalos 2009 Gold Buffalos 2009 Gold Eagles
January 21,500 0 92,000
February 6,000 0 113,500
March 15,000 0 136,500
April 13,000 0 147,500
May 5,500 0 65,000
June 5,500 0 116,000
July 9,500 0 86,000
August 34,500 0 82,000
September 36,000 0 115,500
October* 0 71,500 63,500
November 25,500
December 0
Total* 172,000 71,500 1,017,500

*Figures as of Oct. 19.

The US Mint sells bullion gold coins for a small amount over the current spot price of gold, but only to authorized purchasers. The authorized purchasers in turn resell the coins to coin dealers, precious metal providers and/or directly to the public.

For more information on the coins, refer to 2009 Gold Buffalo Coins.

{ 3 comments… read them below or add one }

the x October 20, 2009 at 8:04 am

when the proofs come out they will be sold out before the day is over.

Simon October 20, 2009 at 2:46 pm

whats the difference between the one-ounce 2009 American Buffalo Proof Gold Coin and the one-ounce 2009 American Buffalo Gold Bullion Coin?

Paul October 21, 2009 at 7:01 am

Why would the proofs sell out?
Will there be a limited quantity offered for sale?

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