Less than two days remain before the ordering window closes for the special-edition 2013-W $50 Reverse Proof Gold Buffalo from the United States Mint. Before that happens, there is a chance its price could advance for the third time since launching on August 8, 2013.
Collectors will have until September 5, 2013 to place orders for the one-ounce, 24-karat gold coin sporting a reverse proof finish that celebrates the centennial anniversary of James Earle Fraser’s designs. The ordering window ends promptly on Thursday at 5 PM ET.
Sales for the Gold Buffalo hit 42,795 as of Tuesday, reflecting a bump of 1,991 during the extended Labor Day weekend.
Possible Price Increase
On Wednesday at around noon ET, there is another possibility that the Gold Buffalo’s price could move up $50 to $1,790. Previous $50 price increases kicked in for the coin on August 14 and then again on August 21. They were made in accordance with U.S. Mint policy to better match product pricing with the rising market value of gold. The most recent price hike happened when the weekly gold average moved higher to within the Mint’s coin pricing range of $1,350.00 to $1,399.99 an ounce.
While Wednesday’s London AM gold fixing must still be considered, the current average for gold is $3.03 shy of $1,400 an ounce, the mark that would trigger higher prices among the Mint’s numismatic gold coins. For the weekly average to reach that point, Wednesday’s AM gold fix would need to climb above $1,424.20 an ounce. As of this writing, the spot price of the precious metal jumped almost $16 to $1,413.60 an ounce with safe-haven demand rising as Syria tensions mount.
Coin News Update: The United States Mint will not increase the price of its numismatic gold coins, including the American Gold Buffalo. Gold prices retreated Wednesday morning as investors booked profits. The London AM gold fix on Wednesday was $1,403.75 an ounce.
If the $1,400 an ounce threshold is breached when the last fixing is added into the mix, the following U.S. Mint gold products would move up in price:
|2013-W Reverse Proof Gold Buffalo||$1,740.00||$1,790.00|
|2013-W Proof Gold Buffalo||$1,740.00||$1,790.00|
|2013 Proof 5-Star Generals $5 Gold Commemorative Coin||$441.90||$454.05|
|2013 Uncirculated 5-Star Generals $5 Gold Commemorative Coin||$436.90||$449.05|
|2012 Proof First Spouse Gold Coins||$890.00||$915.00|
|2012 Uncirculated First Spouse Gold Coin||$870.00||$895.00|
|2013-W Uncirculated American Eagle Gold Coin (1 oz)||$1,675.00||$1,725.00|
|2013-W Proof American Eagle Gold Coin (1 oz)||$1,710.00||$1,760.00|
|2013-W Proof American Eagle Gold Coin (1/2 oz)||$870.00||$895.00|
|2013-W Proof American Eagle Gold Coin (1/4 oz)||$447.50||$460.00|
|2013-W Proof American Eagle Gold Coin (1/10 oz)||$190.00||$195.00|
|2013-W Proof Gold Eagle Four-Coin Set||$3,167.50||$3,260.00|
This coin news article will be updated with what actually happens.
Reverse Proof Gold Buffalo Sales After Price Increases
When looking at day-to-day sales of the 2013-W Reverse Proof Gold Buffalo, shown here, orders pick-up right before an anticipated price hike. Sales then retreat in the following days until new traction is found.
Normally, there is a solid ordering bump on the day a product is known to go off sale. That could change this time. If it seems a price increase is in the works, sales on Wednesday could show the higher point.
The standard version and the anniversary reverse proof American Gold Buffalo are available through the U.S. Mint webpage found here.