Skip to main content

Community Voice Responses (10/01/13)

From the September 6th Numismatic News E-Newsletter: Will the new 2013-W reverse proof Buffalo gold piece double in price in the next six months? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
  • Author:
  • Publish date:

From the September 6th Numismatic News E-Newsletter: Will the new 2013-W reverse proof Buffalo gold piece double in price in the next six months? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.

I do not expect the new Buffalo to double in price in 6 months. It might be worth $200-$400 than the current US mint price. With no purchase limits, this will not be a super rarity. It might follow in the footsteps of the 2009 Ultra High relief $20 however that would be the best case.
John Yagla
Glen Ellyn, Ill.

I got my Buffalo for $1,640 and have sent it off for grading (NGC). I would be thrilled to see it double in price. It will definitely increase, but, with the obscene markups that are being charged by internet and TV marketers, I’d be happy just to see them reach their crazy prices.
By the way, I ordered my coin one hour and 15 minutes after they went on sale and received it yesterday, Sept. 5.
Bill Rodgers
Bedford, Texas

With a several week window of unlimited ordering, the current demand for reverse proof gold Buffaloes should be filled for the immediate future and price increases should be modest.
The long range looks for price increases, particularly if reverse proofs are not issued in future years, but it should take at least several years for prices to double.
I also ordered a regular 2013 gold buffalo proof in order to have a matched pair. I have received the regular proof but the first delivery date I was given for the reverse proof has been delayed a month to late September.
I wonder what the year end comparative mintages of the two 2013 gold buffalo proofs may be? Could the regular proof turn out to be scarcer?
R. W. Barker
Midland, Mich.

It won’t double in price in six months, because there are going to be too many of them and the biggest reason: I bought one!
Tom Garcia
Brunswick, Maine

No, I don’t think the price of these coins will double in the next six months. First off I don’t think they will be that rare, and also since the gold market is so manipulated by the government I don’t think they can afford for the price of the metal to increase that much in that short a time.
Griff Carnes
Kerrville, Texas

Having invested in a pair, one graded a 70 the other from the mint, I would like nothing better. I would think that if gold continues its upward increase in value as a base metal that yes there is a chance that a limited mintage bullion coin will increase in value and double. That said, it took the St. Gaudens longer than six months to double in perfect grades and can probably be found for less than double on the market.
Do you know the final number minted? That will undoubtedly be the major factor. On the second to last day when I purchased my second coin from the mint, it said that just over 30+ thousand ordered. Not sure if that number was updated as orders came in, maybe you could write on that as I have not seen the mint list that “running statistic” before?
Alan Hepler
Address withheld

No way, at least not for the Buffaloes ordered and received in the normal manner (ordered by mail, etc and shipped by mail). I don’t think it will ever double in price, unless the price of gold doubles.
I can’t say that about the 2,000 ANA Reverse Buffaloes sold at the ANA which, according to an article I read elsewhere, were mostly snapped up by dealers who paid people to line up to buy the maximum 5 coins per person. Didn’t the US Mint pull the same stunt a few years ago with similar results (most coins sold to dealers who used the same tactic to get around the order limit)? And a limit of 5 coins per person totaling $8,200? How many normal collectors have that much to spend beyond whatever regular collectibles they were seeking to buy at a show? On the other hand this amount would be tiny for a coin dealer. So who are the US Mint really catering to? Definitely not us regular collectors as the Mint have proved once again with this sale.
And the grading companies present at the show have produced special ANA labels for those coins and it would not surprise me if all 2,000 Reverse Proof Buffaloes were submitted. No doubt this will carry weight as these are undeniably the first released by the US Mint to the public and I already see them being hawked on eBay for $3,000 to $4,000 or even more versus the $2,000 or so for the “normal” soon to come Buffaloes. Yes, the early bird gets the worm but only this time the US Mint made sure the opportunity was given to only a select group at the ANA Show.
This ANA sale leaves a very very sour taste in my mouth, and I have cut back purchases from the Mint maybe I will stop altogether. Perhaps it is time to shake up the culture of the US Mint with a top to bottom audit by the GAO at the very least.
Name withheld

I do not believe it will double but do think it could rise by 40 percent.
Tony Chizmar
Address withheld

I do hope the new RPR Buffalo doubles in value. I hope it is for the coin’s numismatic value,and not because of the price of gold rising. I am hoping silver and gold stay at a reasonable/affordable price. I am going to keep an eye on the regular proof Buffalo as a possible sleeper.
Donald Cantrell
Address withheld

Who knows at this point in time. At the current levels, I don’t think anyone would lose in the long run.
Gary Kess
Berkel en Rodenrijs, Netherlands

More Coin Collecting Resources:

• Order your 2013 Yellow-Bellied Sea Snake Coin Set today!

• Buy new coin price guides, get the ebook free! Learn more.

• IT’S HERE! Order the 2014 North American Coins & Prices.

• Get the 2012 Coin of the Year – limited quantities remain!

• See what guides and supplies our editors recommend for keeping up with your collection.