The United States Mint on Monday began selling the 2011 American Gold Buffalo Bullion Coin to its network of Authorized Purchasers (AP's).
The investment-grade coins entered the market during a time investors have been dumping stocks and commodities following the earthquake and nuclear crisis in Japan, making spectacular opening sales for the Buffalo pieces unlikely. That was in fact the case [...]
The 24-karat 2010 American Buffalo Gold bullion coins are no longer available, the United States Mint told its authorized buyers in a memo late last week.
The US Mint's inventory of the .9999 fine gold coin is depleted, and there are no plans to strike more this year. The numismatic proof 2010-W American Gold Buffalo coins are still on sale, although as collector pieces they carry higher premiums.
Expecting buyers of newly struck 2010 American Buffalo Gold Bullion coins will soon be able to place orders and resell the gold pieces to the public, according to a memorandum the U.S. Mint sent its authorized purchasers Monday afternoon.
"The United States Mint will begin accepting orders for American Buffalo One Ounce Gold Bullion Coins on Thursday, April 29, 2010," the memo stated. "All standard ordering procedures apply."
The release of the 2010-dated coins begins much sooner than their 2009 counterparts, which were issued on October 15 and opened to blistering sales of 71,500 during their first five days.
The United States Mint today ended the sale of 2009 American Gold Buffalo Bullion Coins, telling customers in a memo that its inventory has been depleted and that no more of the 2009-dated coins would be produced.
"The United States Mint has depleted its inventory of 2009 American Buffalo One Ounce Gold Bullion Coins," the US Mint stated in a memorandum to authorized purchasers of the precious metal coins. "No additional inventory will be made available. As additional information becomes available regarding 2010-dated American Buffalo One Once Gold Bullion Coins, you will be notified."
Despite their late Oct. 15 release date, sales of the bullion Buffalos topped those from 2008 and 2007, as the following table shows: