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 Replies: 9 / Views: 2,405 |
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Valued Member
United States
78 Posts |
Hi Everyone -
could I get some opinions on buying the 1oz RP Buffalo as an investment? I wouldn't be looking to submit it for grading - just buying and holding it raw for a few years - then selling. What do you think? good idea/bad idea?
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Pillar of the Community
United States
1195 Posts |
Whether you'd make money on that is anyone's guess.
Better reason to buy it would be that you want to own one to look at any time you want.
If you buy it for investment purposes, like you say you want to, be willing to take a loss of money as the price of temporary enjoyment and a storage fee collected by the universe.
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Pillar of the Community
United States
919 Posts |
If anyone knew the answer to that they would either be buying 10-20 of them now or staying away. About a year ago a local dealer showed me a mint state Buffalo. From that point on I said I wanted one. When the RP came along that was my chance. If you like the coin buy it. Since there are fees to sell the coin later (over 15% on ebay with paypal) the coin would really need to take off to cover just the fees. It will go up if years from now a lot of people want it. If gold drops to $400 an oz like in 2001 then you will find these for less down the road. |
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Pillar of the Community
United States
1026 Posts |
No one knows what the demand for this coin will be in 1, 5, 10... years from now and if the US Mint in their infinite wisdom decide to mint another RP Buffalo.
I bought 6 myself (4x PCGS PR70 & 2x raw) and will take a gamble. But I also adore the coin's design. If I break even in a year, so be it, but I'd rather keep them than selling them at a loss.
The RP Buffalo's potential is also linked to the price of gold. If gold drops down to $1,000 or less in a year, you'll have a hard time selling it at a profit. Part of the UHR Eagle's success is linked to the increase in the price of gold and a similar correlation is likely to occur with the RP Buffalo. Of course, no one knows the price of gold that far in advance - well, not even one week in advance!
Considering all US Mint coins issued in 2013, then, yes, the RP Buffalo should be a good investment.
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Pillar of the Community
United States
919 Posts |
omxfl I hope you do well with this. I got both the regular and RP buffalos. I figured if I bought more then 1 it would drop. If it does drop I will add several PCGS70's.
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Rest in Peace
United States
4078 Posts |
At the Chicago Show there was a line with well over 300 people to buy the gold buffalos. This was all day the two days we were there. The line almost went out the door. Not for me. You pay a high premium or seignorage to buy from the U.S Mint.
If you like it buy it. It is history after that good or bad.
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Valued Member
United States
368 Posts |
i can't imagine gold going much higher than it is right now. definitely not a huge investment if you were to buy just one, maybe a $50 - $100 investment over a 1 year period, and that could either be +100 dollars or -100 dollars.
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Bedrock of the Community
13014 Posts |
I agree that for the 2013 coins this would be the one to pick. As an investment if I were to do it Id go with the pcgs 70 though. As far as pure metal prices I dont see 3k or 5k coin really shooting the coin up but it is a numismatic coin that could see a nice bump like the 2009 UHR got.
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Pillar of the Community
United States
3789 Posts |
GOOD investment. You have my blessings. proceed to the US Mint web site and place your order now.
I am kinda getting skeptical on the proof buff tho. It just seems so obvious that it would be the sleeper one that gets all the value, I dont like putting money into things that are obvious.
Nevertheless if you bought both and sold later as a set you would win.
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Pillar of the Community
United States
1037 Posts |
Here's something to consider; This is the first Reverse Proof Buffalo produced by the Mint. Being the first year it will carry a higher premium. And... if the Mint does not produce this coin again, then a single year coin will be well sought after. I would not be surprised if the 2013 RPB and the 2013 Enhanced ASE make it in the third edition of "100 Greatest U.S. Modern Coins". My advice would to buy as many as you can. |
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Replies: 9 / Views: 2,405 |
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Posted 08/30/2013 2:55 pm
