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Buffalo proofs without limit?

Order limits seem to be the theme of the day. The U.S. Mint has just announced that when the proof 2009 gold Buffalo one-ounce coins go on sale Oct. 29 there will be no limits on orders.

Is that wise I ask myself?

Will there be a flood of orders and another round of upset customers?

True, historically the Mint has made these to order and therefore had no need to place limits on them, but this year has been an unusual year to say the least. Events might not unfold as they might have in a standard year.

Will the Mint have enough planchets to meet demand? That is the question in the back of every collector’s mind. The uncertainty might induce enough of them to take a flier and thereby increase demand beyond what might be considered a normal level for collectors of the fourth year of issue for the series.

Also, because demand for the bullion versions has been so high for the issues of prior years, might there be an overflow of demand into the  higher priced proofs just so they can be obtained and socked away in retirement accounts?

This is a hard question to answer and it bears watching.

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2 Responses to Buffalo proofs without limit?

  1. Louis says:

    Based on what we learned today about the proof Buffalo having no mintage or order limits, and the recent story that only about 70,000 bullion Buffalos were in the first shipment to authorized dealers, it sounds like there is a chance the bullion version will be scarcer. It’s very hard to square the plan to make these to order (like the Ultra High Reliefs) with the ongoing planchet problem. I’m sure collectors would have preferred a limited mintage for the Buffalos (perhaps 100,000) coupled with plans to produce some of the products that are not being made this year. That would have been a win-win for all concerned. The Mint really needs new management and a new vision.

  2. Jeff says:

    It seems to me the Mint officials are deliberately ignoring the collectors who have supported the twenty-three year old American Eagle program by making proof Buffalos available to the public. There is certainly enough interest in the AE program to mint the proof versions of the coins. The excuse that, by law, they must make the bullion coinage before they can make proof coinage falls flat with the decision to make proof Buffalos. The Mint leadership should be replaced with personnel who actually care about the wants of their base customers: the coin collector.

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