2010 $50 American Gold Buffalo bullion coins debuted to roaring sales of 48,500 on their first day of issue, according to the United States Mint.
The U.S. Mint on Tuesday told its authorized purchasers that the 24 karat gold coins would be released Thursday, April 29. Buyers were ready.
The one day sales represent 15.0% of all the bullion Buffalos sold in their inaugural 2006 year, 29.0% of those in 2007, 28.2% of 2008 and 24.3% of 2009.
Gold coin blank shortages resulted in a late year release for the 2009 versions. Their coin sales were considered hot when 71,500 were ordered between their launch on a Thursday, October 15, to the following Sunday, October 18. The 2009 supply was depleted by December 4. Sales during their short release had topped those from all of 2007 and 2008. It would appear the 2010-dated pieces could be headed for their own record.
Gold Buffalo Bullion Coin Sales: 2006 – 2010
|2006 Gold Buffalo||2007 Gold Buffalo||2008 Gold Buffalo||2009 Gold Buffalo||2010 Gold Buffalo|
*Figures as of Thursday, April 29, 2010.
The 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.
Struck from .9999 fine gold, the American Buffalo coin was authorized by Congress in 2005 and were first minted in June of 2006.
Both the obverse and reverse of the Buffalo coin is the same basic design that first appeared on the 1913 circulating nickel, commonly known by most as either the "Indian Head Nickel" or the "Buffalo Nickel."
The obverse design features a Native American, said to be a composite of three Indian chiefs. Many have claimed to be one of those three models, but only two were ever verified by the artist James Earle Fraser; Cheyenne Chief Two Moons and Lakota Sioux Chief Iron Tail.
The reverse design contains an image of an American buffalo, also known as a bison. It is believed by many to be modeled after Black Diamond who lived at the New York Zoological Gardens.
The Mint has not yet indicated when it will make available the numismatic proof version of the coin. It has only said that the 2010-W Proof American Buffalo Gold coin "will be offered in 2010."