Load up on Proof Gold Buffaloes...NOW!!
 

I was reading a Coin World July 3rd issue I believe, the mint was going to sell the proof gold buffaloes at 875.00 but gold had just dropped at decision time, so they went with $800.00.

I have a hunch that with gold rising, currently 668.00, the mint in their wisdom, (that is a joke, friends) will be "forced" to announce a higher price on new orders, as of a certain date. The article went on to say that 50,000+ were ordered first day.

When you price a regular version currently at 710-725, (or 900 on the shopping channel) ...... these are a screaming buy...

SELL some of that "precious" silver and get one...your downside risk is very minimal.....glta

Re: Load up on Proof Gold Buffaloes...NOW!!
 

They really are a gorgeous piece.....I am glad they went with the actual 1913 Fraser Design and not that moth eaten design they put on the Jefferson nickel.


Some background on the Buffalo design....from U.S. Coin Encyclopedia

The act of Sept 25th 1890 abolished the Three cent piece, gold dollar and 3 dollar gold piece. It also forbade design changes oftener than 25 years; ostensibly to deter counterfeiting of new types, but actually to discourage coin collectors. In 1911, the sec of the treasury was informed that during his term only one coin could be changed, the libery head nickel (first issued 1883). James Fraser was contacted and produced a pair of models in June of 1911.

The obverse is a composite of three chiefs Iron Tail (Custers opponent at Little big horn), Two Moons, John Big Tree.

The reverse is an American Bison ,Black Diamond living at that time, in central park zoo.

What apparently stalled the release in 1912 was vending machine companies demands for design changes as the new coin would not pass counterfeit-detection devices...after much delay, the mint finally went with Frasers original design and told vending companies to change their apparatus

After the Bison Black Diamond was slaughtered, the firm of A Silz sold the meat as "Black Diamond Steaks" at $2.00 a pound. The head was preserved and is privately owned.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I saw one at the dealer today. $900 for a proof. Seems like a bunch, how sure are you collectors that these are a good buy?

I know very little about collectibles and would appreciate any help here.

E-A

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Your downside is one ounce of pure gold.....glta

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Just make sure that you choose the slow shipping. (It is a free automatic upgrade to expedited shipping if your order is over $300 or contains gold.)

Ebay sellers are selling these for at least 850 and up.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I don't mean to rain on the parade, but this post is a bit misleading. I have a few numismatic coins because I like them.

But to say these are a bargain and a steal is not accurate. As gold price rises, the collectable value of a proof becomes less important, and you wont be able to get as high a premium above spot price.

These coins are great, they are 1oz of gold at a very high price. Buy them if you like them. They are not rare as you can still line up and buy one. Whether its $100 over spot or $300 over spot - its still a lot over spot.

You could also buy one as speculative because its the first year. But its purely speculative. The 1986 US Gold Eagle does not charge much over spot at UNC or PROOF.

It can also be argued proof is good to buy when gold falls. If gold goes back to $550/oz, all proofs wil have to be cheaper than they are now.

Just balancing out the view here :) We don't want people buying these because they think they will double in value or something. If you're just after % gain in your metals..bargain hunt UNC coins from any other major countries (usa, Sth Africa, Australia, Canada)

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Check this one out! Why is he getting such high bids? $4150 for the graded PCGS PF70 Gold Buffalo Proof

http://cgi.ebay.com/ws/eBayISAPI.dll...MEWA%3AIT&rd=1

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Same reason someone got $4,400 for an MS70 version of the coin on Ebay when its normally going for about $1000-1200...........people with a lot more money than brains!

"Humans - monkeys with carkeys and nukes!"....and too much money

Ho!

Re: Load up on Proof Gold Buffaloes...NOW!!
 

"Humans - monkeys with carkeys and nukes!"....and too much money

That will be good for those with these coins. Think I'll send mine off to PCGS and put em up on ebay then buy the regular bullion :rolleyes:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Sid, I NEVER SAID THESE ARE A STEAL.....REREAD WHAT I SAID........the commercial uncs are 700+ for 800 you got the same ounce of 24kt and a proof limited edition.


If gold goes down to 550 your K-rands will be worth 540. The bullion strike Buffaloes will be worth 550-560.

The proof Buffalo may not lose a cent as who is buying these to sell at a loss??? Collectors buy em and sit on them forever...

Do not load up on anything without your own D.D. but if you are buying gold at 700+ why not add some Proofs at another $100.?


GLTA

Re: Load up on Proof Gold Buffaloes...NOW!!
 

When you say limited, do you really consider 300k limited? I mean isn't the Austrailian Kangaroo bullion limited to 350,000 yearly (that's a figure I have seen before)? And it has about the same premium as the buffalo bullion, with two tone proof like characteristics.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Mintages of the Australian Nuggett coins are restricted to:

350,000 1oz,

100,000 1/2oz,

150,000 1/4oz,

200,000 1/10oz, and

200,000 1/20oz coins





From: http://lynncoins.com/kangaroo-nuggets.htm

Re: Load up on Proof Gold Buffaloes...NOW!!
 

It's hard to go wrong buying the lower mintage fractionals, in this case the half and quarter ouncers. Most years, lower mintage pieces, Unc or Proof, tend to do better than the others. Just compare the price charts with the mintage figures. Problem is, especially with the unc. versions, is that you have no idea what the final mintage tally will be for a particular year. Unless of course the mintage limits are decided and announced ahead of time as in the case of the first year proofs.

I agree in principle with Bullionaire, that the little extra cost of the proofs (buy them "pre-certified" from Tulving or whomever) is well worth the added profit possibilities. Remember though, that with any "collectible".... they all filter back to the point of primary demand, and that is with the collector. If there are more coins than collectors, the price has little chance of sustainable gains beyond just speculation.

FWIW

Re: Load up on Proof Gold Buffaloes...NOW!!
 

No disrespect to Australia, (vacationed there last year , thumbs up to topless beaches) , Very Few people collect that lunar gold glop......very very very thin market...just because a coin has 100 produced, does not produce a rarity...there has to be a market base.

REREAD MY INITIAL POST...... if you are buying gold buffaloes at these levels, your risk is $100.00 period.

I purchased mine as I am partial to the Early American classic designs, look at the beauty of early designs versus the crappy circulation designs.
Once a collector always a collector....

With past criticism, the mint probably chose a mintage number to placate as many gold collectors as possible. They made 500,000 silver 2001 buffaloes and they could have sold another 500,000.


glta

Re: Load up on Proof Gold Buffaloes...NOW!!
 

cool. I am not a collector so I don't understand the demand/supply of those markets. I did today pick up from my mother, two $1 US gold coins, 1 from 1856 and the other 1857. I like the little buggers. They were from my great grand parents.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

You can not judge one by the other - and for a difference of $50 its worth it that it might skyrocket like some other proof coins have.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Well, I got only 5 of them cause they might go up and I figured, if gold hits $800-850 (which is a slamdunk, probably before Xmas) then no matter what, I haven't lost a thing - and it might go up a LOT more - both the spot of gold and the value of the coin to collectors. I figure its a no lose situation.

But I also figure the MS70 will, ultimately be worth as much or more.........the MS69 will be worth less than both. I have spoken with a dozen dealers and coin collectors who agreed with that before I bought (and no, I did not buy from them so they had no reason to say that - they knew they were not going to make a penny off of me.)

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Depends - but probably - first I will look at them, then have my coin collectors friends do the same and see what they think - but if you want to re-sell them down the road - like on Ebay - people are much more likely to buy and pay more if its independently graded.....if there is a dealer in your area he can probably have it graded for you - if not you could join PCGS or NGC and do it that way - but it costs - so going thru a dealer is better.

If it comes straight from the mint the odds are good it will grade at MS 69 or 70.........

Re: Load up on Proof Gold Buffaloes...NOW!!
 

What do you think the odds of a PF70 are from the mint?

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I think its very good, based on calls to NGC and PCGS - NGC is giving easier grades, if you have a choice, but most prefer PCGS, and they get a bit more for their coins.........the only problem is the gold at 24kt is a bit softer, but both companies say they have seen lots of MS 70's.........whats odd is - if you look on Ebay, there are lots of NGCs but very few PCGSs at MS 70 - I am not sure but it "feels" like someone is hoarding the MS70's.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Something like 6,500,000,000 people on earth. 300,000,000 people in this country. 350,000 is rare. Very rare.

Plus it is an Indian head those seem to much more collectable.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

It would probably be a good idea to hoard MS 70 proof coins. I hope someone at the mint is not doing it. Thanks for you input!:proud:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Well, one neverknows with these things - there is merely what one calls an educated guess - I got 4 MS 70s and 3 Proofs - I might get a few more but the other variable is that there are so many collectors now than a few years back, and while the mint says they will only do 300,000 proofs, they do have the option to make more........and we can only guess how many MS 70's there are - even with the info from PCGS & NGC cause I am not sure, while they each know how many they have put thru, they do not compare numbers.

My pleasure to share what I know - wish I knew more than I do - but good luck collecting and investing!

Ho

Re: Load up on Proof Gold Buffaloes...NOW!!
 

How many of them want a proof gold buffalo? Those numbers really mean very little by themselves.

I may be a collector but if I were to offer the average Joe on the road a PCGS MS70 slabbed proof buffalo for $670 they would say why would I want to spend that much on that coin? They have no idea what the spot price of gold is and could care less about an expensive disc of metal.
The price of collectables is not only governed by supply and demand but also knowledge.

I wear a 14k gold chain of which only 10 were made. Does that make it a huge collectible? In the eyes of someone who collects that jewelers merchandise, yes. But really how many people care about an obscure Rhodes jewelers rarities. It may be worth it's weight in gold but other than that due to other than that it's all a matter of whether or not the buyer knows or cares just how rare it is when thinking about buying it.

For what it's worth I hope these do shoot through the roof, I have some on the way.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I agree that the NGC graded PR70's may not be the better investment here. I have seen several NGC graded PR70 Gold Buffalos so far, especially on HSN and S@H and it's my opinion that probably 20% (MAX) of those would be given a 70 if PCGS had graded them. I don't know if the television networks have offered premiums for every highest grade certified or what (no allegations being made), but I know of many, MANY dealers that are lowering their faith in NGC's integrity on grading as a result. Bottom line, my purchase will be for PCGS graded 70's as these, in my opinion will be the true rarities and collectibiles with unquestionable integrity, and that is the only 'rarity' factor (again, in my opinion)! And I have no intent on 'loading up on them'. I think a couple added to the portfolio will be sufficient.


P.S. APMEX, COULD YOU PLEASE PROVIDE YOUR OPINION/THOUGHTS ON THIS ISSUE? THANKS.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I don't know if you could consider a mintage of 300K "rare" but I question owning Gold coins minted by the most hated country on the planet. I'll stick with the Maple Leafs maybe pick up a Buffalo as a curiosity.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

classic comment. I bought a few buffalo bullion and I am done. I am thinking of getting a few of the 100 euro austrians.

The buffalos are not anything special in my humble opinion and if you are betting on their collectible value you better hope somebody is willing to be on the other side of a future transaction.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

That hate is quickly forgotten when it comes to gold. Anyway, Americans are the market for American coins and most of us haven't gotten used to hating ourselves enough to boycott things American, yet.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Alot of the high-end graded PCGS bullion filters through Tulving, as he submits HUGE quantities of newly minted U.S. bullion gold directly to PCGS when he receives it. He's close to PCGS headquarters, so has the opportunity to do so.

But what you will notice is that he is obviously shooting for the MS-70 and Proof-70 grades, because he literally dumps the 69 material back onto the market at very low premiums....... right now about $28 per coin over spot on cash deals. He even trades PCGS MS-69 slabbed Buffalos for Krugerrands, Maples, and other one ounce bullion coins for only $15 per coin on the trade. That barely covers the per-coin grading and slabbing fees involved. Those 70 grades is where he hits the jackpot, and where he makes his money on this stuff, looking to profit on perceived "grade rarity". None of this stuff is "rare" by any means. It's more a matter of getting the right coins in front of the graders and getting their blessing. NGC is getting too loose on their grading standards for 70 grades, while PCGS is still the service to go with on these top grades if that is what interests you. BUT, remember that there is not one person in a thousand that can "show" you the difference between an MS-69 and an MS-70 coin under magnification, even in the slab, regardless of which grading service they are from.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

The nice thing about the proofs is the mint limited a customer to 10 coins only and tried to distribute them as widely as possible. Not just to a few dealers who would have made all the cash. I am sending mine to PCGS to see what grade I can get. Hoping for PF70 first strike. That seems to be the one selling for the highest price.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Dumb question: Is there such a thing as a first strike proof? I thought the proofs were struck a few times to get the top grade finish. Wouldn't the number 1 proof be just as nice as the number 300,000 proof? :confused:

I understand the first strike deal with bullion/circulation pieces (brand new dies and such), but I didn't think it applied to proofs.

Educate me please. Thanks.

MT Silver

Re: Load up on Proof Gold Buffaloes...NOW!!
 

That very thin market must explain the up to $280 premium over spot that the Aus Lunars bring.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Must be all sixteen of the serious collectors of lunars bidding them up...


GLTA

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Thanks for this - it confirms everything I have been saying all along - and why I picked up 3 of the proofs and 3 of the Buffalos..........

But I have another concern I have no mentioned on this or other Buffalo threads that keeps me only buying 3 of each.........

2005 was when they were authorized by presidential order to make these coins - same year Bush started talking to Mexico and Canada about the combines North American dollar...........and with TPTB trying to suppress the price of gold while - out of the other side of their mouths, selling us gold to "invest in" (says the little booklet thats sold with it)........

And it makes me wonder...........


Are they selling us all this gold this way NOW cause they alread intend to confiscate?

Sell us gold - take our cash - take the gold back?

Hmmmmmmmmmmmmmmmmm..............does sound like the sort of crap this current administration would do!

Mafia - organized crime
Government - disorganized crime

Human - Monkeys with carkeys and nukes

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I am not sure thats true - they limited how much an individual can buy at one time - but companies like Shop At Home get first choice and buy cases of the stuff...........

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Far as I know - First Strike means the first 50,000 coins struck - there are going to be 300,000 proofs so yes, there SHOULD be Frist Strike proofs - but I would think ALL the proofs should be 70's or 69's (some get slight dings comeing off the machines)

Re: Load up on Proof Gold Buffaloes...NOW!!
 

A costly downside with gold only at $666.30. I can't justify paying $900 for an ounce right now. I would rather pay $675 for a Kuger.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

The premium is cause there are only 30,000 of each coin minted - and the dragon is the hardest to get but others have sold out and have a slightly less but higher premium too........

Americans may not buy them but believe me - others do - espeially in Asia where Chinese astrology is important.

Like Billionaire implied (I hope I read his meaning right) - there's a lot more collectors grabbing those coins which is why they sold out so quickly from the Perth Mint.......and why the premium - and, in a few years - they should go up even more (if we're all still here after WW3)

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Same reason some idiot paid $70,000 for gum that had been chewed by Luis Gonzales.

99% of the population are sheep. Take advantage of them when you can. I'm selling off my Morgans for way more than they're worth...because sheep with money will pay ridiculous prices for them.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

At what interest rate? I'm hesistant to purchase PM's on credit. You may end up spending even more in the long run. My approach is to simply exchange my leftover FRN's for PM's. By purchasing on credit you run the risk of paying a much higher premium (via cc interest).

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Master Ho -

Where do you see Silver around Christmas with Gold sitting $800-$850?

Re: Load up on Proof Gold Buffaloes...NOW!!
 

That makes sense, but.....How would you know what a first strike would be? It would look just as good as the last strike (of course I'm talking proofs, not bullion). From what I understand (example only, and please don't quote me on times or numbers), say the first few months of the year, all gold/silver eagles would be considered first strikes. And the sealed boxes sent for grading that have the date on the tag or whatever.

But with these buffalo proofs, they aren't numbered. And aren't they making all of them at pretty much the same time?

I don't know, maybe I've already confused myself, just doesn't seem to make much sense (having first strikes) with these buffalo proofs.

Thanks. (and thanks for the earlier response)

MT Silver

Re: Load up on Proof Gold Buffaloes...NOW!!
 

As an investor - I would agree - however, not all here solely invest for profit, some are coin collectors and they might.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I see that as a good possibility - however - with the current geopolitical situation which could affect oil, the market and the dollar - it might go to four figures by then.

Either way, I agree with Jim SInclair that gold will go up a lot more in the next two years

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I have no doubt about that as well. I think you misread my question. I was asking you about the price of silver. How high do you see silver going during the same stretch that gold increases to the $800-$850 range?

$16-$18???

Re: Load up on Proof Gold Buffaloes...NOW!!
 

If I remember correctly - its only the first 50,000 coins and they must be submitted with proof of their mint dates - after a certain date they can no longer be called First Strike. Now, if I REALLY remember correctly - the boxes come from the mint and must be sent in unopened - inside is a slip from the mint with date, thats how they know!

I heard - tho mine are not in - that the proofs will come in with a certificate thats numbered - which is why I am going to chance it and send ours in for grading unopened - tho I suspect at this point, the first 50,000 are already done.........but First Strike or not, they should all look beautiful and all be MS 70 (give or take, as I said before, some get dings in the manufacture and 24kt is even softer so might be more dings.)

If JoeJeweler shows up - he might know more than I.

Glad to share what little I know with you guys!

Ho

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I purchased two proof buffaloes and sent them off for grading. Before sending to NGC my son called them and asked them what they consider a "First Strike" proof buffalo to be. They replied that any proof buffalo received by them within 30 days of first release by the US mint would be considered to be a "First Strike" coin. Therefore, based on that information, we decided we needed to get our coins to them by July 22nd since the first coins were released on June 22nd.

I don't know what PCGS considers to be a "First Strike" coin, but for NGC it is coins received within 30 days of release.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Sorry! I am not totally awake yet and indundated with email about the Middle East, so in my hurry I misread.

Silver concerns me (despite the cheerleaders we see in here for it) - everything I hear says silver might not go up at the same pace as gold - as I keep posting (and Jim Sinclair said it first) "Gold is money, silver is a commodity that acts like money!"

Most financial analysts I read seem to think base metals are going to go down if the economy and industries slow down - silver then would sort of sit between gold and the base metals........

I think it will go up - I have both - but I think gold will go up more and faster.

Right now - with the fighting and economic situation, I think only an idiot would try to predict the price of silver - too many variables - I DO want to think it will go up. If gold hits $850 I can see silver hitting about $20, a bit more of less....not predicting a price, just a rough range. Eventually I do see the possibility of $50, or even $100 silver, depending one how ugly things get (and they get uglier minute by minute), but not by years end.

I know this is not helping much so - as a attempt to be helpful - let's me say this - I have more gold than silver, cause I think it will go up most and fastest.........but I have silver cause I have no doubt both will go up - and cause "gold will preserve wealth, the silver will be used to buy things with" (hence the empahsis on 90% or junk silver - everyone should have some of that, and then 1 ounce rounds would be the next best best to buy food if things get to TSHTF.)

I tell all my people they should have both.

Only my opinion - I might be worng but so far, unfortunately, things are developing as I expected and said they would back in November.

And I hope I am wrong cause I see things getting MUCH worse........

Humans - Monkeys with carkeys and nukes.

Ho

Re: Load up on Proof Gold Buffaloes...NOW!!
 

OK, how much premium over a PF70 proof Buffalo do you think people would pay if was a first strike coin compared to if it wasn't a first strike coin? Does first strike really mean that much for proofs?

Re: Load up on Proof Gold Buffaloes...NOW!!
 

This is what I have in my file from when I bought a First Strike Eagle - not sure it helps but here it is anyway.

Cheers!

[b]First Strike: the first coin, or one of the earliest coins, struck from a pair of dies. These are usually Prooflike, well struck and nearly perfect.
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>
Courtesy of PCGS, you can now know, without a doubt, that you are actually purchasing a true "First Strike" Silver, Gold or Platinum American Eagle since it is a copyrighted term owned solely by PCGS. These coins will have the phrase "First Strike" printed on the Certification insert, and placed into the PCGS sealed holder.
<o:p></o:p>
PCGS (Professional Coin Grading Service), the most respected third party grading service in the coin business, for the very first time ever, is offering for 2005, certified MS69 American Silver Eagles, that will be designated as the highly sought-after actual and legitimate "First Strike" coins.(As of <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:date Year="2005" Day="31" Month="1">January 31, 2005</st1:date>, "First Strike" - PCGS discontinued using this tag and started using the "20th Anniversary" to commemorate the longevity of the Eagle program.) <o:p></o:p>
<o:p></o:p>
In order for silver eagles to be graded with the unique "First Strike" designation, they must be submitted to PCGS in unopened Mint-Sealed Original Boxes and the audit tape inside must be dated no later than January of the year in question.<o:p></o:p>
<o:p></o:p>





These brand new "First Strike" designated coins will carry a different serial number than that of later year released Silver Eagles. This is being done to certify that you are purchasing the real thing, and not just an average run-of-the-mill 2005 MS69 Silver Eagle, that someone may be falsely claiming to be a first strike. <o:p></o:p>

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Thanks much Master_Ho and Az Ag! :bowdown: :coolbeer: I think there's hope for me yet! :proud:

MT Silver

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Well...let's not get TOO over the top! :D

(Only kidding - we all have to learn this stuff and its not a science - you are, and will, do great!!! Have a great weekend!)

Ho

Re: Load up on Proof Gold Buffaloes...NOW!!
 

interest rate? nope not for me..i pay the bill when it comes in but i did get 1% back on $8000 purchase for the 10 buffalo coins so that means i paid less than everyone! :tongue:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

The proofs that I received were not sealed in any way and have no serial number or date on them. No way to know if they where first stikes or not. I emailed the ebayer and he said it was just up to PCGS to dertermine if it was a first stike or not. Maybe the 30 day thing has some merit. Must ship mine in by the 22nd.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

RIGHT! So you didn't get them directly from the US Mint - you got them second-hand some someone on Ebay........and that MAY be why they were opened and no certification number..........when mine come in I'll let you know how mine are......and yes, PCGS & NGC determine Frist Strikes, not the Mint, based on how soon after they were released.

Ho

Re: Load up on Proof Gold Buffaloes...NOW!!
 

They come that way directly from the mint. There is no certification number.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

No. I bought them direct from the mint the day they came out. No number but does have the COA.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Yes, you are correct - here is what the Mint says..........>

The <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region><st1:place>United States</st1:place></st1:country-region> Mint will transfer two of the historic American <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p>

<st1:City><st1:place>Buffalo</st1:place></st1:City> Gold Coins to the Smithsonian Institution’s <o:p></o:p>
coin collection on <st1:date Year="2006" Day="2" Month="6">Thursday, June 2, 2006</st1:date>.
<o:p></o:p>
<o:p></o:p>
The <st1:country-region><st1:place>United States</st1:place></st1:country-region> Mint will produce a proof version of these coins for collectors.
<o:p></o:p>
The term "proof" refers to a specialized minting process that begins by manually feeding burnished coin blanks into presses fitted with special dies.

Each coin is struck multiple times so the softly frosted and highly detailed images seem to float above the field.
<o:p></o:p>
<o:p></o:p>
An official Certificate of Authenticity will accompany each coin. <o:p></o:p>
American <st1:City><st1:place>Buffalo</st1:place></st1:City> Gold Proof Coins will sell at a fixed price and can be <o:p></o:p>
purchased directly from the <st1:country-region><st1:place>United States</st1:place></st1:country-region> Mint. <o:p></o:p>
The price for the proof coin is $800.<o:p></o:p>

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Thanks Ho, that's a great answer.

Relative to many on GIM who have been investing in PM's for several years now, I am new to the game. As such, and not having the experience of time, trial and error, I find GIM as a great resource for information on how the game is played. While I try to be as informed as possible, this game seems to be an unpredictable one at best and I find myself turning to my intuition for answers. My intuition is telling me that gold is a more stable investment than silver. While I agree that anyone investing in Silver alone is a step ahead of those who are "hoarding" FRN's, I find myself leaning towards Gold as the metal of choice. It seems to be more widely recognized and desireable and it has clearly stood the test of time.

The reason I asked you about where you see silver falling when gold hits the $800-$850 range (which I am certain it will) is because I am trying to pinpoint the best time to convert my silver to gold. While, like you, I will hold a mix of both metals, I would like to convert some of what I have to gold but I am waiting to the best time (financially) to do so. I agree with Sinclair that, "Gold is money, silver is a commodity that acts like money!"

If gold is indeed going to go up at a more rapid rate than silver, then perhaps now is the best time to convert. I however, am not thoroughly convinced of that yet.

On another note, what makes you the "go-to" guy for answers to questions on the Middle East?

Re: Load up on Proof Gold Buffaloes...NOW!!
 

The underlined is key.

Great job at beating the system!

:boxing:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I agree - this forum (at least some of it) is a WONDERFUL resourse of great people and mix of opinons - plus, while many of the articles are reruns of things I see other places, there are a few I don't and truly value seeing here.

For me, this game is a Tao (yin, yang) thing.....some of it is economics and technical stuff, charts, ect.....but I am more like you, I function based on intuition or gut first (I am hardly ever wrong if I listen to my gut) and then I try to find the economic basis on which to back, or negate, those feelings. The one thing that slams most people who work based on technical alone is that humans function, additionally, on emotions, fear and greed......and yes, gold has and probbaly will always be more stable than silver, certainly, during hard times its twice the stability and usually the profit silver is - tho having both is crucial!! As I pointed out to another longtime GIM member, during the 1979-80 spike in gold, gold did (roughly) a 1500% increase to silver's (roughly) 750%........but you need to have both and right now silver IS undervalued in terms of its relative value to gold. (Plus, I think a lot of people in here champion silver over gold cause its cheaper for most of them to buy, but that is just a guess.) I totally agree with your assestment of gold.


I think - and so do a lot of the financial writers - that the time will come to exchange silver for gold - but that's when silver hits a top - I suspect its many, many months or a few years from that yet........I tell all my people, one needs silver to buy things in hard times - so they should all have at least 1/4 if not 1/2 bag of junk silver minimum. The rest should go into gold as long as they can afford it. $850 is a nothing figure for gold - adjusted for inflation it should be closer to $1600 and thats low compared to where most see gold going in the end......but once it get over $1000 its going to be harder for most people to afford ANY gold - so I tell them to buy all the gold they can now and then, when it gets too pricey, keep buying the metal they can afford at that time - silver!


The blue turban! :haha:

I had no idea I was the go-to guy for answers on the Middle east - maybe cause I was talking to people about this back in 1970.......or maybe because of my gut..........or maybe cause of my secret profession! :wink:

Ho

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Just a bag of junk 90% for insurance purposes? I'll bet quite a few here are over insured.:cool2:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I purposely said MINIMUM! :wink:

Actually, I tell my people, that in junk in case TSHTF and the rest in one ounce rounds........or silver eagles if they wish.....cause junk silver is so much heavy to lift and carry if need be.

I am over insured, but mine's in silver bullets!

Come and get my silver!! :haha:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Very interesting info! I did not know that.

For the most part, I concur. It could also be a psychological thing. ($650 for one little gold coin vs. $650 for 50-60 nice shiny larger coins.)

Great points. I agree.

You had stated earlier that you were busy catching up on emails about the situation in the Middle East.

Secret profession? What are you, an undercover poli-sci professor? :rofl:

Re: Load up on Proof Gold Buffaloes...NOW!!
 

I had the opportunity to see one in the local coin dealers case, I have to admit I'm not very impressed with the quality of the style of the proof in person, I would have rather seen the current sae style made into the new gold coin.

Re: Load up on Proof Gold Buffaloes...NOW!!
 

Now now - if I told it wouldn't be a sceret would it? :D

But no, nothing that exciting.........nor am I a secret agent with a license to kill..........

Ho