2013 Reverse Proof Gold Buffalo Values Solid to Strong

by Mike Unser on September 24, 2013 · 8 comments

2013 Reverse Proof Gold Buffalo

Secondary market values are highest for graded 2013 Reverse Proof Gold Buffalo Coins

Secondary market values of the 2013-W $50 Reverse Proof Gold Buffalo are solid to very strong with sellers making money even as buyers show restraint.

United States Mint sales of the special-edition reverse proofs, which celebrate the 100th anniversary of the designs by James Earle Fraser, ended after their four-week ordering window closed on Sept. 5, 2013. The last reported sales total for the one-ounce 24-karat gold piece was 47,836.

In a volatile precious metals market and during the two weeks since the reverse proof went off sale, collectors certainly haven’t sprinted to buy more in the secondary market. Still, they are willing to spend to get top-graded coins into their collection.

A search of eBay auctions resulted in just over 200 listings using the keywords "2013 Reverse Proof Gold Buffalo" and a two-week date range of Sept. 6 to Sept. 20. The overall sell-through rate for these came in at 40.7%. Coins that moved quicker and at the best prices were those graded "70."

First, before getting into values, there are three pricing points worth noting for the reverse proof Gold Buffalo. It debuted on Sept. 5 for $1,640. It went higher from there two times. Advancing gold prices lifted the coin’s price by $50 on Aug. 14 and by another $50 on Aug. 21. Sales of the coin ended on Sept. 5 while priced at $1,740.

And with that, here is a snapshot of recent eBay auction results during the two-week period of Sept. 6 to Sept. 20:

  • Ungraded coins averaged $1,812, with the low-end at $1,740 and the high-end at $2,000. The sell-through rate for listings was 27.1%.

  • Coins in PCGS PR70 averaged $2,429, with the low-end at $2,100 and the high-end at $3,900. The sell-through rate for listings was 56.1%.

  • Coins in NGC PF70 averaged $2,279, with the low-end at $2,050 and the high at $3,499.95. The sell-through rate for listings was 54.8%.

  • Coins in PCGS PR69 averaged $1,842, with the low-end at $1,800 and the high-end at $1,879. The sell-through rate for listings was 27.8%.

  • Coins in NGC PF69 averaged $1,829, with the low-end at $1,780.90 and the high-end at $1,880. The sell-through rate for listings was 20%.

CoinNews.net will publish any updates to U.S. Mint-provided sales figure for the 2013-W $50 Reverse Proof Gold Buffalo, if released, and revisit secondary market prices down the road.

US Mint Numismatic Gold and Platinum Coin Prices

In other coin news, don’t expect U.S. Mint pricing changes tomorrow, Sept. 24, for numismatic gold and platinum coins.

Last Wednesday, Sept. 18, the United States Mint cut prices on its gold coins by $50 for every ounce of gold content. That happened when gold’s weekly average retreated to within $1,300 and $1,349.99 an ounce. The Mint also dropped proof Platinum Eagle prices by $50 when platinum fell to within $1,400 and $1,449.99 an ounce. Gold and platinum prices later that day and through Thursday soared when the Fed announced it was holding its stimulus steady.

Since Thursday, however, precious metal prices have pulled back and averages are solidly within the same ranges. That means no U.S. Mint changes in coin prices to include the regular proof Gold Buffalo that sells for $1,690 at www.usmint.gov/catalog.

{ 8 comments… read them below or add one }

Terry Power September 24, 2013 at 1:26 pm

I think the folks that stocked up on the RP Buffalos are going to get Buffaloed.

With nearly 50,000 units sold, there are four times the inventory as the “regular” 2013 proofs. The Early Release 2013 regular proofs are the bomb, folks. I’ll pick up a RP PCGS 70 for around $1900 once gold drops down a couple hundred bucks to complete my 2013 proof lineup. There’s a huge glut of the Buffalo RP NGC/PCGS 70 coins out there since the majority of the coins will grade out at 70. A 69 should be worth just a bit over the price of a raw coin, in my opinion.

With all that said, they’re beautiful coins…..

Terry

A&L Futures September 24, 2013 at 1:47 pm

@ Mr. Unser,

Another fine article. Yet, I was suprised to find that you made no mention of the Chicago ANA labels, which based on my research are commanding the highest of premiums.

Perhaps this dollar figure was rolled up in your earlier comment, “Coins in PCGS PR70 averaged $2,429, with the low-end at $2,100 and the high-end at $3,900. The sell-through rate for listings was 56.1%.”

Either way, great read. Thanks!

Stuart Wheeler September 24, 2013 at 6:01 pm

Now four years later here in 2013, the 2009 Ultra High Relief appears to be holding it’s own very well price wise both raw and certified. With an overall mintage of roughly 115,178 units, the sales total for the 2013-W Gold Buffalo Reverse Proof is LESS THAN HALF at 47,836 units. Roughly the same mintage as the 2008 Rev. 07 Silver Eagle. I expect the Gold Buffalo Reverse Proof to do just as well as the 2009 UHR if not better. Yes, the 2013 traditional proof Buffalo is much lower mintage wise than the Reverse Proof however, has ANYBODY looked at the sales figures lately for the 2012 half ounce .9999 fine gold First Spouse commemoratives in both mint state and proof versions??? They are the REAL sleepers here with total mintages of LESS THAN 3,000 units apiece! Granted, I’m biased in this instance as a student of American History and anything Presidential for at least 45 years. If tiny mintages appeal to you, the First Spouse Gold pieces are the way to go with very reasonable prices besides. Now, I’ll get off my soap box. God bless you.

Bubba September 24, 2013 at 6:53 pm

Ebay and PayPal fees can run as hich as 13%, so the people with raw ones aren’t doing that well.

Johnk1710 September 29, 2013 at 11:49 pm

Beautiful Coin! This is the king of coins. For collectors you can’t ask for anything more. If a person is to collect just one coin in their lifetime this is the one. Forget the graded nonsense, just buy the coin already. People are getting so caught up in the PF69/70 market they are forgetting about the hobby of collecting and investing. And don’t get me started on that first release gimmick. This is a 24k coin and a work of art but I know that “sour grapes” feeling is affecting some people out there. So if you can afford one get one, I can’t foresee this loosing value in the long run. Gold fluctuates and that is to be expected but this coin will hold value due to its numismatic appeal. It’s a winner in my book.

Joe #2 September 30, 2013 at 7:05 am

Graded or ungraded, If you can afford to buy this ICONIC piece, buy it.!!!!
I love both of mine…. Some folks say they like the “regular” buffalo that comes out each year better than this r.p.g.b., I DISAGREE… This piece rules….

Victor October 29, 2013 at 11:41 am

I just received, finally, my second Reverse Proof Buffalo. I made the purchase, on the last day and after more than a month of delays on top of delays, it finally arrived. The first one was $1690 + $4.95 shipping. The second was $1740 w/no shipping. Hmmmmmmmmmmmmmmm. Now I have every reverse proof coing, U.S., ever made in the original sets. Lucky me! 😉 Anyone in favor of a series of collector coins, minted exclusively for collectors, not for general coinage, featuring the current year date, but the previous art work? Just think, a Barber coin set, in Unc. and Proof, or the Morgan Dollar in Unc. And Proof. Just a one year issue. Just a thought, I wanted to put out there.

SactoMike November 30, 2013 at 5:54 pm

If you looked at these coins as an investment, it may take decades to really appreciate. Prices of this coin have come down considerably. Unfortunately for the “single-buyer” collector who couldn’t get the coin slabbed as a “first strike,” many of these are now going for under issue price at coin shows. Those lucky enough to get them slabbed MS70 First Strike or Early Strike are seeing a 10-15% premium. Ergo, the Mint pressed far too many of these coins in the same or very, very similar condition. While I like the 4-week ordering window, what the Mint should do is limit the number of coins to 5 per order. That way, small collectors have a better chance of getting their coins delivered within the 30-day “early release” window by PCGS and other slabbing outfits. With unlimited coins ordered, it renders the 4-week window rather moot.

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