The U.S. Mint sold more than $13.5 million worth of 2011 American Buffalo 1 ounce gold proof coins in the opening days of sales.
From noon May 19 until to May 25, about 7,500 of the coins were sold at a price of $1,810 each, according to U.S. Mint Public Affairs Director Tom Jurkowsky.
The Buffalo gold proof coins are .9999 fine 24-karat gold. For that reason they sell for $25 more than the 1 ounce American Eagle gold proof coin, which is 22-karat gold.
The Buffalo coin, which carries a $50 denomination, features a design based on the original 1913 Type I Buffalo nickel by James Earle Fraser.
Collectors purchased 49,374 of the 2010 Buffalo gold proof coins as of May 25. The 2010 coins are no longer being sold. No mintage limit has been set on the 2011 proof coin.
The 2011 coin debuted at a price of $1,760, but its price was adjusted according to a formula employed by the Mint that readjusts prices of gold coins as the market fluctuates.
The coins may be ordered from the Mint’s website, www.usmint.gov, or toll-free at 1-800-USA-MINT.