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 Replies: 10 / Views: 2,873 |
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Pillar of the Community
United States
1903 Posts |
Seems that with some small percentage of these coins selling below mint price on ebay it would tell me that even with a low mintage, this release was a dud. Or am I wrong and these sort of issues lag a bit before they settle into a supply/demand premium situation? *** Moved by Staff to a more appropriate forum. ***Edited by unholyroller
01/09/2014 1:42 pm
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Bedrock of the Community
13014 Posts |
Im guessing delayed. These special issues get a significant percentage bought for resale now and itll probably take some time for the supply to thin a bit.
It could end up being a bust for the raw ones, but since the falling price of gold could be scaring people away id like to see it play out longer before calling it a bust.
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Moderator
 United States
23522 Posts |
From Mint News Blog: Quote:
At last reported sales of 47,836 units, the Reverse Proof Buffalo represents the US Mint's best selling numismatic gold coin since 2011. The sales total is more than double the current sales figures for all of this year's numismatic gold offerings, and actually triple the current sales figure for this year's regular proof Gold Buffalo. Sounds like it's a saturation issue. No reason for demand. |
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Pillar of the Community
 United States
1903 Posts |
I will admit I got caught up in the hype for this coin...and when put next to a regular proof version, in my opinion, the regular issue looks nicer. The RP looks like a gold foil wrapped chocolate candy coin. But that is just my opinion.
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Pillar of the Community
United States
5206 Posts |
The low price of gold vs. the issue price may have something to do with it. Once gold comes up to a higher level it will separate the numismatic and collector issues from the bullion or what may be viewed as a bullion issue and I think you will see the RP go up over the standard issue. Or maybe the RP helped introduce more collectors into the series who will want to start a collection of them as the lower price of the 5oz ATB this year seems to have helped introduce new collectors to the series due to the lower get into the club prices. |
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Pillar of the Community
United States
1817 Posts |
The novelty issue of the RPs has played out for the premium PM products appealing to a limited number of deep pocket collectors and probably the oversaturation of the Buff RP has scared away investors as well. Most collectors only know about the ASE RPs in the special sets and next to nothing about the gold and platinum RPs. Interest in the RPs would rise if the US Mint decided to RP the smaller silver coins such as in the LESPS which would make it a truly special set worth buying. I agree with unholyroller, the regular proof Buffalo is just a classic looking coin compared to the RP version. The RP just isn't quite right for the Buffalo design. |
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Pillar of the Community
United States
2764 Posts |
Probably RP is just not good for gold coin, may be they should try the 'special/enhance uncir' method on the gold eagle.... ;)
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Pillar of the Community
United States
3789 Posts |
I think the uniqueness of the RP Buff will in time help prices rise. I have seen the pop in price the 2013 regular proof Buffs have gotten but I think thats going to be short lived, I saw the same price action on ebay with the 2012 1 oz proof gold eagles when final numbers were announced and that they were less than other years and then prices fizzled. Whats really impacting things is whats happening with silver and gold prices, once prices get stable I think we'll see these coins go higher. They are a one time unique offering. |
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Pillar of the Community
United States
1026 Posts |
It certainly doesn't help if one dealer (Goldmart) still offers the raw coin for the original issue price ($1640 + postage) - 19 in stock as of now. At least the PR70 graded coins have appreciated somewhat. Goldmart had them for $1849 initially but still has a total of 8 for $2200 each. Current ebay prices are around the $2250 mark. Edited by omxfl
01/14/2014 10:17 am
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Bedrock of the Community
United States
17884 Posts |
Quote:
and I think you will see the RP go up over the standard issue. Even considering it has three times the mintage of the standard issue? |
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Pillar of the Community
United States
3789 Posts |
So I was digging about.. and looking over ebay sales and I was going mention this LAST week before the drop in gold but looks like prices were slowly starting to get back to flat on this... looks like it will take more time tho lol |
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Replies: 10 / Views: 2,873 |
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Posted 01/09/2014 2:03 pm
