From the March 17th Numismatic News E-Newsletter: Have the Mint’s gold Buffalo and Eagle collector coins gotten too expensive? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.
Most things in life have increased in price. The gold Buffalo and Eagles are just along for the ride. Their price is relative to the times. We hope when it’s time to sell there will be profit.
While we hold and look at these most beautiful coins, the good feeling we get is satisfying. Buy and keep them, enjoy possessing them. How many things bring happiness to your heart and mind nearly every time you see them?
John Lowey East Meadow, N.Y.
Some of the pricing is based on the purchased price of bullion at the time of purchase. This can make it seem a higher price. The Mint could possibly shave some percent off tits share or absorb “shipping & handling.” Some of these offerings are out of my reach as it is (limited income). Perhaps downsizing the offerings can include others of limited means.
Gary Kess Escalon, Calif.
The Mint is behaving like any normal desperate retailer – mediocre goods at ever higher prices.
I sneer in contempt at some of the falsely inflated after-market prices on contemporary mint products.
It is humorous to observe the grading services complicit nature in this falsehood of value.
Not so funny if you are a naive consumer falling for it.
I’ll spend my money on far more interesting, and rare, numismatic devices.
Numismatics has little to do with buying mass produced new crap from the factory.
Jane Arge Tacoma, Wash.
Yes! And once purchased, they may never retain that value.
Gerry Goss Billerica, Mass.
Yes, I think they have gotten out of hand. I have always wanted to buy one, but they are just to pricey for me.
Alex Helzel Greensburg, Pa.
Yes they are overpriced by the US Mint.
Edward Majzlik Dearborn, Mich.
Yes, they are a little over priced and the Buffalos and the platinum coins should come in fractional denominations like the proof Eagles. Not everyone can afford the 1 ounce coin especialy with the price of gold and platinum.So every year I buy the largest gold Eagle I can afford and don’t even really look at the Buffalo coins.
David Tortorice Buffalo, N.Y.
In 2006, I purchased five coins because I thought the gold Buffalo was so beautiful. I kept purchasing the coin until 2009 when the price started to go up and my business(auto repair) started going down. I now wait for the gold prices to go down checking the revised cost on the Mint site on Wednesdays.
I may skip 2012 unless the price drops near or below $1,000. Too bad the U.S. Mint doesn’t have a 10 or 15 percent “fire” sale just to get collectors like me to purchase the coin.
Kunio Narasaki Pleasant Hill, Calif.
The U.S. Mint has got to stop charging $300 to $350 per coin for the $50 gold Buffalo proof coins, because most collectors just can’t afford to invest $2,000 per coin with the way the gold market is today.
Larry W. Young Tyrone, Ga.
I know you are asking about gold collector coins, but are you aware the price of the 9-11 medal is $16 more than a proof commem? The Mint is making a lot of profit off the medal. It should lower the price or pay out more to the surcharge recipient. I wish I could afford a proof Buffalo.
Donald Cantrell Address withheld
I think they’re a bit to high. I do think they are the best coins produced today. I think they should be closer to market price. Just a little higher maybe, because they are proofs. Wish I had more of both.
Hank Jackson Address withheld