Gold Eagle Vs. American Buffalo - Coin Community Forum

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Author	Replies: 5 / Views: 9,200
barryg Pillar of the Community United States 5861 Posts	Posted 08/12/2011 8:02 pm Sorry if this has been discussed to death, but I've noticed that a number of bullion dealers are pricing American Gold Eagles at, or even slightly above, the cost of American Buffalo gold coins. Now I understand that, from a purely aesthetic perspective, the American Eagle may be more desirable to collectors, but from a bullion perspective shouldn't one ounce of 91.67% pure (22K) gold be significantly less expensive than one ounce of 99.99& pure (24K) gold? Expanded Digital U.S. Type Set Album \| Dansco 8100 (Lincon Cents) Album \| Digital Proof Type Set \| Digital U.S. Currency Type Set \| Foreign Bullion Coins Report this Post to the Staff

junior e Pillar of the Community United States 931 Posts	Posted 08/12/2011 8:32 pm I've seen Buffaloes trading higher than Eagles in my travels. Report this Post to the Staff
GoThunder Pillar of the Community United States 830 Posts	Posted 08/12/2011 9:22 pm As I understand it they both have the same total amount of gold. Yes the purity of the AGE is less, but it weighs more to make up for it. EDIT: more info here: http://mazack.org/hobby/gold_eagle_..._buffalo.php Quote: So does this mean that the difference between the Gold Eagle and the Gold Buffalo is that the Gold Buffalo contains more gold? No. In fact, the "1 oz." version of the American Gold Eagle contains 1 troy oz. of gold in addition to the copper used to make the coin harder. On the other hand, the American Gold Buffalo also contains 1 troy oz. of gold, but does not contain the copper of the Gold Eagle. The idea behind minting Gold Buffalos in addition to Gold Eagles was to compete with other 24 karat gold bullion coins on the market. So because the buffalo is softer and easier to scratch be very careful with them. Edited by GoThunder 08/12/2011 9:40 pm Report this Post to the Staff
barryg Pillar of the Community United States 5861 Posts	Posted 08/12/2011 10:06 pm Ah, that makes sense. Thank you. Expanded Digital U.S. Type Set Album \| Dansco 8100 (Lincon Cents) Album \| Digital Proof Type Set \| Digital U.S. Currency Type Set \| Foreign Bullion Coins Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 08/13/2011 10:20 am barryg Quote: Sorry if this has been discussed to death, but I've noticed that a number of bullion dealers are pricing American Gold Eagles at, or even slightly above, the cost of American Buffalo gold coins. Really? Name a couple. Quote: from a bullion perspective shouldn't one ounce of 91.67% pure (22K) gold be significantly less expensive than one ounce of 99.99& pure (24K) gold? Yep, but an AGE is 1.091 oz of 22K gold. You get an ounce of gold in either coin. Report this Post to the Staff
barryg Pillar of the Community United States 5861 Posts	Posted 08/13/2011 11:06 am Quote: Really? Name a couple I noticed this last week when I was looking at a variety of different sites selling gold. Off the top of my head, the only one that I can remember by name right now is kitco.com. I just checked and gold eagles are selling at the exact same price as gold buffaloes. Sorry that's not a couple... Quote: Yep, but an AGE is 1.091 oz of 22K gold. You get an ounce of gold in either coin. Yep, that's what GoThunder said up above. I had no idea the AGEs actually weighed more than one ounce. Mystery solved! Expanded Digital U.S. Type Set Album \| Dansco 8100 (Lincon Cents) Album \| Digital Proof Type Set \| Digital U.S. Currency Type Set \| Foreign Bullion Coins Report this Post to the Staff
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