Price Raised on 2008 Buffalo Celebration Coin

The US Mint has just adjusted the price for the 2008 American Buffalo Celebration Coin.

This "Lucky Buffalo" coin is a specially packaged one ounce American Buffalo Gold Bullion coin. It is part of the United States Mint Celebration Series, which attempts to reach out to non-traditional coin collectors.

When the coins were initially released on February 5, 2008, they were priced at $1,018.88. The increased price is one hundred dollars more at $1,118.88.

Notably, the price increase came quickly and without the suspension period which has preceded price increases on Gold and Platinum Eagle Coins. For these offerings, once precious metals prices reached a certain level, sales were suspended "due to the increasing market value of gold/platinum." The suspension would last two weeks or more while prices were adjusted to higher levels.

Will the Mint take this swift, overnight approach to metals related price increases for their 2008 products? This would certainly be a welcome change as the 2007 Gold and Platinum Eagle coins remained under suspension for a significant portion of last year due to the constant rise in precious metals prices.