Proofs Selling Rapidly
By Numismatic News
for the 2009 proof one-ounce gold Buffalo coin
was in evidence during the first three days
after the Oct. 29 sales launch.
The U.S. Mint recorded orders for 19,468 of
these proofs. There is no household order limit
applied to this program, though the bulk program
to large buyers did not begin until Nov. 3. This
sales figure already approximately equals the
total number of the 2008 proof one-ounce Buffalo
Buyers paid $1,360 apiece for the privilege of
owning the famous James Earle Fraser design
originally used on the Buffalo nickel, which was
The price of the Buffalo proof changes weekly
according to a formula based on the fluctuating
price of gold bullion during the prior week.
Buffalo coin demand did not back up the phone
lines or cause computer problems as was most
recently the case for the Lincoln Coin and
Chronicles Set. This is most probably due to the
fact that there is no pre-announced limit on the
number of coins produced.
Initial orders can also be compared to those for
the Saint-Gaudens Ultra High Relief gold $20
that went on sale in January. Collectors then
also overloaded the Mint’s Web site and phone
During its first four days from Jan 22 to Jan.
26 sales of the UHR reached 40,727 pieces.
Buyers paid $1,189 for those coins as gold
bullion was lower then. Orders were restricted
to one per household.
This works out roughly to an average of 6,500
coins a day for the Buffalo program as compared
to the slightly more than 10,000 a day for the
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