Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, December 2, 2008

2008 Uncirculated Gold Buffalo 4 Coin Set Sold Out

Add one more to the list of 2008 products now sold out at the US Mint. As of yesterday, the 2008 American Gold Buffalo Uncirculated 4 Coin Set has sold out.

Somewhat ironically, this sold out set is another one of the US Mint's products slated for discontinuation. Possibly the demand is being spurred by the fact that the coins will no longer be available -- meaning 2008 will be the one and only year that fractional Gold Buffalo coins are minted. Or perhaps the coins were more popular than the US Mint perceived. Re-pricing the coins lower simply kicked demand back into high gear.

The sell out comes amidst some very volatile movements in the price of gold. After surging above the $800 level on November 24, gold dropped more than $40 yesterday in tandem with the financial markets.

Other Gold Buffalo products previously sold out include the following:

2008 Proof Gold Buffalo - 1 oz. Individual Coin
2008 Proof Gold Buffalo - 1/10 oz. Individual Coin

2008 Proof Gold Buffalo - 4 Coin Set
2008-W Uncirculated Gold Buffalo - 1/4 oz. Individual Coin

2008-W Uncirculated Gold Buffalo - 1/10 oz. Individual Coin

So far, the biggest premiums on sold out coins seem to be for the 1/10 oz. Uncirculated and Proof coins. I did a quick survey of completed eBay auctions to guage price levels.

Raw, uncertified examples of the 2008-W 1/10 oz. Uncirculated Gold Buffalo have sold for prices ranging from $225 - $250. This compares to the most recent US Mint price of $129.95. Raw, uncertified examples of the 2008 Proof 1/10 oz. Gold Buffalo have sold for prices ranging from $250 - $300. This compares to the most recent US Mint price of $164.95.

The number of coins actually available on eBay is very small, so it is still to be determined whether these prices levels are sustainable. Currently there are less than twenty 2008-W Unc or Proof $5 Gold Buffaloes listed. Here is a link to the current listings.



At December 2, 2008 at 8:18 AM , Anonymous Sev said...

Looks like the platinum unc's are all out. Love the new site!

At December 2, 2008 at 8:20 AM , Blogger Michael said...

I'll have a post coming on the Platinum Eagles this afternoon.

At December 2, 2008 at 8:51 AM , Anonymous Sev said...

I wonder what's up with the eagle Unc set?! Extremely low sales and none are sold out.Any theories as to why? I'm a buyer of all these coins at this point. I feel the collector coins MIGHT be spared should our government go out on a limb and reconfiscate gold to start a new currency standard if they get desperate enough. This is just a theory mind you. As for the collector side there seems to be a lot of upside potential here for all these coins. Some of the platinum unc sales have already been revised down.

At December 2, 2008 at 7:01 PM , Blogger Michael said...

I also prefer the "W" Unc coins. For the past few years, I have been buying them instead of bullion coins, timing purchases when premiums are reasonable. Long term and hopefully short term, the "W" coins should outperform by far.

At December 3, 2008 at 6:25 PM , Anonymous Brad said...

I think the fact that the fractional Gold Buffalo coins will only be made for 2008 is significant. I also think that the Uncirculated coins are the better buy. The reason for this is not just the fact that the 4-coin set was about $100 cheaper at the final price levels, but also one fact that seems extremely significant to me but I have not really seen any mention of yet: The 2008 one-ounce uncirculated coin with the "W" mint mark may very well end up being the KING of the Gold Buffalo series.

Think about it: It will be the ONLY year that the uncirculated coin had the mintmark, and it was minted at only about 5% or less of the level of the 2008 bullion coin WITHOUT the mint mark. It might not take too long for the collectors to realize that they will need this coin (and the other three sizes too, technically) to have a complete set of the uncirculated Gold Buffalo series. To be truly complete, it will be necessary to have this coin to go along with the annual 1 oz. bullion coins without a mint mark for 2006 and beyond. And the supply of these will be EXTREMELY tight.

The 4-coin proof set is no slouch, either. The fractionals there are also a one year only issue. But, the one ounce proof coin ALWAYS had the "W" mintmark, and it will continue in that size into 2009 and beyond. Granted, the sales of the 2008 1 oz. proof coin were far below the 2007 issue, and MANY times lower than the gigantic sales total of the 2006 inaugural issue. But, the fact that they will continue into the future robs this one of some of the glory that the Uncirculated coin will have.

Again, the one ounce UNCIRCULATED coin is the sleeper and future king of the series. Get yours NOW before it's too late!


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