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 Replies: 19 / Views: 30,544 |
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Valued Member
United States
461 Posts |
OK at first I thought it must be a mintage issue like they issued less of these. But while mintage numbers have gone down since the 80's (the 86 Ellis Island for example had 6 million proofs minted) it still had pretty good mintage numbers for a modern commemorative dollar.
The BU had 227,000 minted and the proof had 272,000 minted. Just look at the other 2001 commemorative the Capitol visitor center which was minted in a lot less quantity of 35,000 for BU and 143,000 for the proof. But that commemorative only goes for $25-30 where as the Buffalo even though produced 2 1/2 times more goes for $120-150.
Look at some other low mintage dollars like the Community Service dollar which can command a $100 and with a mintage of just 23,500 far lower than either buffalo but not even worth as much.
So why does the 2001 American Buffalo Dollar command such a high price?
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Pillar of the Community
United States
7840 Posts |
Nostalgic demand, IMO.  Edited by oih82w8
09/20/2012 3:28 pm
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Pillar of the Community
United States
1211 Posts |
supply and demand. higher mintage but everyone wants one.
Imagine if the buffalo had the mintage of the leif ericson. It would be worth a ton.
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Bedrock of the Community
United States
12437 Posts |
It is all about demand- the Buffalo is arguably the single most popular modern commemorative.
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Pillar of the Community
United States
3077 Posts |
seams like I read somewhere the price for these are trending down
sorry to lazy to search for the link
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Valued Member
 United States
461 Posts |
yotie they are triple spot and not comparable with their mintage so trending down would be what it should be doing.
I don't get the nostalgia thing because you can buy a gorgeous MS grade Buffalo for $30, to me I'd rather have the original coin wouldn't you. I like the look of the commemorative dollar but just like with the Walking Liberty or the Silver Eagle i'd still prefer the original Walking Liberty.
I hope it trends down or it will be the last one I add to my set.
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Pillar of the Community
United States
2734 Posts |
Sirdizzy, your signature suggests an interesting hypothesis: If the Mint had made half a million Type I Standing Liberty commemorative silver dollars on a particular year, those would probably be trading for more than the Buffalo.   |
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CCF Master Historian of USA Commemoratives
 United States
12258 Posts |
A primary reason for the Buffalo commemorative's popularity, market demand and therefore higher selling price is its use of James Earle Fraser's 1913 design for the immensely popular Buffalo nickel. The Buffalo nickel series is one of the most popular of all US coin series and is avidly collected by many thousands of collectors in the US (and elsewhere). So, when this coin came out, it was purchased by traditional commemorative collectors as well as folks who collect Buffalo nickels. So, a minimum of two significant collecting groups lined up to buy an example â€" a situation that is not all that common among the modern issues (many are almost exclusively purchased by commemorative collectors). Also, the general popularity of Fraser's design is such that collectors and non-collectors alike purchased the coin â€" for many, it was the only commemorative coin purchased. Hope that helps! Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Valued Member
United States
461 Posts |
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Pillar of the Community
United States
620 Posts |
Any coin with a Buffalo to me just sreams AMERICAN
I think many collectors are drawn to the majestic Bison.
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Pillar of the Community
United States
7187 Posts |
I had purchased the two coin set back in 2001 for $60, it is one of my favorites.   I wish the two coin Yellowstone would have done as well.  |
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Bedrock of the Community
United States
11951 Posts |
If you think the Buffalo is high priced .. check out the 1995 and 1996 olympic dollars
in BU/MS.
There are many coins that are higher priced because they are more popular. last time I checked the UNC buffalo was trading around $140.00
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Moderator
United States
187759 Posts |
Quote:
I had purchased the two coin set back in 2001 for $60, it is one of my favorites. Very nice, muddler!  |
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Pillar of the Community
United States
1804 Posts |
I was fortunate to have gotten a set in a 1,000 Eisenhower bag, about 8-9 months ago. Good condition, but not pristine. Looked like they were taken from the mint holders, and dumped to a bank  |
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Pillar of the Community
United States
1037 Posts |
 Besides all of the above. IMO, this design is better suited as a silver dollar than it was being a nickel. It looks great in gold too. This 2001 silver Buffalo really gave the US commemorative's a needed boost, as sales were lagging in years past. |
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Pillar of the Community
United States
1804 Posts |
welder Quote:
This 2001 silver Buffalo really gave the US commemorative's a needed boost, as sales were lagging in years past. Wish the MINT would get fully HEDGED (meaning buy the AU) and start banging out more AG stuff at reasonable prices. More 38 mm and half dollar size stuff. |
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Replies: 19 / Views: 30,544 |
Posted 09/20/2012 3:15 pm
