The 2008 American Buffalo Gold Uncirculated Four-Coin Set on Monday joined the quickening ranks of other bullion coins and is no longer available.
The collector proof and uncirculated coin series has been getting extra attention from collectors after the U.S. Mint reduced prices and announced it would eliminate many collector coins from its numismatic portfolio, including all the American Buffalo uncirculated coins and all but the 1 ounce proof option.
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2008-W American Eagle Platinum uncirculated coins were again the big U.S. Mint movers.
Since last week’s figures, one-ounce sales surged 46.5 percent to 980 coins. They are now the last standing coin in the series after sales of the one-half ounce size spiked to 18.5 percent and sold out on Monday.
Double-digit percent rises were also seen across the one-half and one-quarter ounce 2008-W American Buffalo Gold proof coins.
Interestingly, several coins show declines. The Mint readjusted prices lower two weeks ago, likely resulting in at least some returns from customers who previously paid higher prices and decided on a refund. Mint accounting adjustments could be another factor.
Here are the latest Mint sales figures for the major American Eagle and American Buffalo collector products: Read the rest of this entry »
High demand has depleted all but the American Eagle Gold and Silver one-ounce coins from its 2008-dated bullion coin inventory, the United States Mint told authorized dealers in a memo Monday. Further, the Mint said it will delay the launch of other bullion coins until later in 2009, citing difficulties in acquiring blanks.
"The quantities of blanks that we have been able to acquire from our suppliers continue to be very limited, while demand for bullion coins remains high. As a result, it is necessary for the United States Mint to delay the launch of other bullion coins until later in 2009. We will continue to monitor the situation and keep you informed as additional information becomes available."
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Silver, gold and platinum collector coin sales have increased significantly since last week, according to United States Mint figures.
The one-ounce American Buffalo gold proof coin is no longer available as of Thursday. The Mint’s online site simply says: "Product is not available," likely indicating they are sold out.
2008-W American Eagle platinum uncirculated coins were the most popular with sales increases of the 4-coin set, one-ounce and one-half ounce coins up 72.2 percent, 58.2 percent, and 25 percent respectively. The other sizes have already sold out.
With the series concluding and sales figures looking to be relatively low, collectors may be judging these modern bullion coins with an eye of potential scarcity. Then again, most of the collector gold and platinum coins do not have spectacular sales figures.
Several other coins also had double-digit percentage rises, which may be seen in the following tables:
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The United States Mint resumed sales of collector gold and platinum coins Thursday at 12:00 noon (ET). The Mint suspended the coins to readjust prices Wednesday.
Nearly all American Buffalo gold and American Eagle gold and platinum collector coin prices were decreased, as expected, to better match recent price drops in precious metal prices. However, all 1/10 oz and two of the 1/4 oz coins were actually priced higher. Interestingly, Mint sales figures for those sizes experienced some of the highest percent increases over last week.
The following table compares American Eagle and Buffalo old and new prices, as well as the differences between Mint sales figures from last week to this week. Perhaps most noticeable is the standout 13 percent sales increase for the 2008-W American Eagle Platinum Proof 4-coin set.
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The United States Mint on Wednesday suspended sales of nearly every gold and platinum collector coin it offers in order to readjust prices.
The suspensions come on the heals of the Mint’s Monday announcements to offer a last chance sale for many coin products on Saturday and its elimination of 22 gold and platinum coins.
The Mint’s online store currently lists the bullion collector coins in a "Product is not available" status. Several calls to customer service confirm the coins will be available again on Thursday, although four different and very courteous representatives provided varying times of the day for when, which seems to indicate an exact time may not yet be determined.
The suspended coins include all:
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The collector’s eye is scanning for scarcer gold and platinum coins to purchase after the United States Mint’s announcement on Monday to slash future coins from its numismatic portfolio.
With 22 collector American Eagle and Buffalo gold and platinum coins to face elimination in 2009, opportunities have improved for several to rise in value based on that alone. And even more so for others after comparing their prices and sales figures.
But how did we get to this point? Also, what collector bullion coins are the best buy?
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The first sales figures from the United States Mint are in for 2008 fractional Buffalo gold coins. In total, a solid 67,331 of the new fractionals have been sold.
The 24 karat gold coins were once offered in one-ounce proof versions only.
On July 22, the Mint expanded the product line by issuing fractional denominations of 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz weights and in both proof and uncirculated.
The 1/10 ounce gold sizes are proving to be the most popular coins. Their lower prices have helped sales even though the Mint charges higher premiums for these smallest coins.
The following tables highlight uncirculated and proof Buffalo coin sales figures:
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The United States Mint announced today the release date for 24-karate fractional American Buffalo Gold coins. Since 2006, the Mint has only issued proof, one-ounce coins in fine .9999 gold.
On Tuesday, July 22, the Mint will offer Buffalo proof and uncirculated coins in fractional weights of one ounce, one-half ounce, one-quarter ounce and one-tenth ounce.
The will also offer a set including all four coins. In affect, the new offerings follow the Mint’s American Eagle Gold coins program.
Gold Coin Sizes/Weight, Face Value and Prices
The following table provides a list of the Mint’s upcoming American Buffalo coin sizes and prices.
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The United States Mint pulled the trigger this afternoon in announcing a sale date of July 15 for fractional American Buffalo gold coins, and then just as quickly snuffed the message.
Currently, the U.S. Mint offers only proof one ounce American Buffalo gold coins. The Mint sent out a message through its press release RSS feed indicating American Buffalo gold coins in proof and uncirculated versions would be sold July 15 at noon (ET) in the following sizes:
- one ounce,
- one-half ounce,
- one-quarter ounce.
- one-tenth ounce, and
- a four-coin set which contains one coin in each size.
Essentially, the Buffalo gold coins will be sold similar to American Eagle Gold coins.
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