Mint News Blog

News, Information, and Commentary on US Mint Products

Tuesday, March 30, 2010

2009 Proof Gold Buffalo Sold Out


Yesterday, two things occurred that I would like to report. First, the 2009 Proof Gold Buffalo Coin sold out at the US Mint. Second, my wife and I welcomed our second child!

First the coin related news...

The 2009 Gold Buffalo One Ounce Proof Coin went on sale October 29, 2009, priced at $1,360 each. Later pricing adjustments would bring the offering price as high as $1,460 with the last available price $1,410.

In the first three days of availability, the US Mint reported sales of 19,468 coins. By mid-November, sales had reached 32,271. The pace of sales slowed into the new year, with recent sales around 500 coins per week.

The last reported sales figures for the 2009 Proof Gold Buffalo coin were 49,388. In the past, I had suggested that the US Mint may have produced an even 50,000 coins by the end of 2009 and sales would continue until this entire production run was sold out. It looks like this prediction was close to the mark.

There had been indication of a sell out earlier last week when some readers reported that the US Mint's product page had changed to sold out status. However, the "sold out" was removed, the coins went back on sale and remained available for several more days.

The mintages for the one ounce Proof American Gold Buffalo Coins now stack up as follows:
One Ounce Proof Gold Buffalo Coin Mintages
2006 246,267
2007 58,998
2008 18,863
2009 (last reported sales) 49,388

The US Mint has also now indicated that a 2010 Proof Gold Buffalo one ounce coin will be offered in the future. The release date is not yet known. The pricing would likely follow the US Mint's existing pricing grid for numismatic products.

In personal news, yesterday morning my wife gave birth to our second son, Robert Alexander Zielinski. Even though he was born a few weeks earlier than expected, he weighed in at 8 pounds and 7 ounces. Both Mom and Baby are doing well. Big brother Jason (just turned 2 years old) was very intrigued and kept asking to "see baby."

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32 Comments:

At March 30, 2010 at 6:28 AM , Anonymous Anonymous said...

your stated 2008w mintage at 18,863. but the mint revised that figure to 25,496. please double check it again. thanks.

 
At March 30, 2010 at 6:37 AM , Blogger Michael said...

there were a couple of revisions. The final number settled at 18,863.

http://usmint.gov/mint_programs/buffalo24k/index.cfm#salesTable

 
At March 30, 2010 at 7:04 AM , Blogger max said...

Congrats...

 
At March 30, 2010 at 7:07 AM , Anonymous Anonymous said...

Congratulations on your second announcement in this posting. Wishing you and your family all of God's blessings and nothing but the very best in the future to come.

 
At March 30, 2010 at 7:26 AM , Anonymous Anonymous said...

thanks mike.

 
At March 30, 2010 at 7:27 AM , Anonymous Anonymous said...

thanks michael.

 
At March 30, 2010 at 7:58 AM , Anonymous Anonymous said...

Congratulations!!!

 
At March 30, 2010 at 8:00 AM , Anonymous Anonymous said...

Congratulations on your new addition. Wishing you and your family all of God's blessings and good health. Enjoy them NOW.

 
At March 30, 2010 at 8:10 AM , Anonymous Anonymous said...

Congrats Mike! New additions definitely put things into perspective...even the Mint's lack of exciting products. :-)

 
At March 30, 2010 at 8:12 AM , Anonymous Anonymous said...

How you find the time to keep up with coins - and now a second little one. Congratulations and the best of health. Thank you for your timely and informative coin reporting.

I enjoy reading this BLOG....

 
At March 30, 2010 at 9:22 AM , Anonymous Anonymous said...

Congratulations to the both of you!

 
At March 30, 2010 at 9:27 AM , Anonymous Falcon said...

Congratulations on the birth of your son. I hope the mother and child are healthy. I also hope he sleeps at night so you and your wife can get some rest.

 
At March 30, 2010 at 9:30 AM , Blogger Lasloo said...

WOW!! Congratulations. So how many coin folders is the new one going to help fill out?

I see a 2010 proof mint set with his name on it! :-)

One of the most fun things I do with my kids is go through coins and pick up good dates or good quality coins and put em albums. Fun stuff.

My wife and I are expecting our fourth... and guess what we're thinking for names... "Walker"!!! as in Walking Liberty (my wife's favorite coin). Rock on!

 
At March 30, 2010 at 10:52 AM , Anonymous Anonymous said...

two is enough. so that your mintage will be low. congratulation to your new born baby.

 
At March 30, 2010 at 11:31 AM , Anonymous Anonymous said...

Congrats on the new mintage, Michael!

 
At March 30, 2010 at 11:34 AM , Blogger Lasloo said...

On a different note, anybody on the East Coast going to the Dulles Coin Show in late April?

I'm somewhat involved in a numismatic youth program that another guy runs from coin show to coin show in VA. Usually involves an educational segment and a faux auction for real coins. A lot of fun.

The guy that runs the program is looking for a speaker for the meeting. He was trying to get a BEP engraver but that fell through. None the less, it should be quite fun. He always does a great job. Thought I should pass the word along for anybody who lives near DC.

 
At March 30, 2010 at 1:22 PM , Anonymous Anonymous said...

The biggest Scam of the Century? The silver/gold market and where is the real silver/gold? Paper backed delivery is not the real commodity. See www.kingworldnews.com for this unbelievable story by a London "insider" who tried before to tell his story but NOW perhaps someone will listen?

 
At March 30, 2010 at 2:45 PM , Anonymous Anonymous said...

Now that this coin has sold out that means no more buffalo gold is available from the mint so people will have to buy from the aftermarket. Perhaps prices go up for the 2008 w gold buffalos even more?

 
At March 30, 2010 at 2:57 PM , Anonymous Anonymous said...

To the commenter just above. I don't know how big the news is of metal price rigging. Its called "price management." GATA (Gold Anti Trust Action) committee has been on this for years. This whistle blower was not even invited to the CFTC (Commodities Futures Trading Commission) hearings on precious metals last week. These guys on the commission are all from big financial cos. like Goldman Sux so they are not about to listen to anyone that might pull their pants down and expose their hineys. Go to the GATA website for info and links on this stuff. Some of the hearing are on Youtube. GATA officals did testify. Don't look for any serious action by this commission. This rigging (price management) is based on paper gold like ETF's. People buy gold paper stock and supposedly some financial firm stores their gold. The problem is there is only 1 oz. of gold in storage for each 100 oz of paper sold according to the latest info. I believe they call this fractional reserves. The only thing that will ever collapse this system of "price management" is if most of the holders of paper gold request delivery of the physical product. This is not likely to happen, however, for at least a couple of reasons. There are all kinds of requirements to convert paper gold to physical and also a lot of the paper gold is in retirement accts and no one is allowed under the law to have actual possession in their home of any gold or silver in a retirement acct. It is supposed to be held by a "custodian," a financial business authorized by law and regulation to do this. There is more and more pressure on this system because metal bullion sales have skyrocketed for silver and gold as a lot of folks are taking physical possession. The "price managers" allow the price to move up a little but its getting to the point where the fractional reserves may end up being a lot more than 100 to one in order to keep the price from rising to fast.
I believe this is another reason the Federal Reserve banking system is fighting off audit legislation in congress. Some officials also claim these banking manuevers on metal are national security related and therefore not accessible to the public. There is a lot more techical analysis like shorting the market, hedging, covering the shorts, etc. that would take a lot of space to explain correctly. GATA has a bunch of info on their site for those wanting to dig into the detailed technicals of this whole "price management" operation.

 
At March 30, 2010 at 4:54 PM , Anonymous Anonymous said...

Everything I've read is about "price manipulation", not "price management".

 
At March 30, 2010 at 4:57 PM , Anonymous Anonymous said...

Let me add...in response to 2:57 long winded comment.

People should just read article at:

http://numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=9921

 
At March 30, 2010 at 5:35 PM , Anonymous Anonymous said...

I read the numismaster article. It is comprehensive and is optimistic that there will be results. My question is does anyone believe these commissioners were ignorant of this until now? These guys all have connections to the big financials. They will proclaim there is an ongoing investigation and bury this info so deep it will be harder to find than the Lost Dutchman's gold mine.

 
At March 30, 2010 at 6:36 PM , Anonymous Lureuin said...

Congrats on the 2nd coming.

 
At March 30, 2010 at 6:39 PM , Anonymous Anonymous said...

I for one appeciate both new numismatics and new babies. You've got the Daily Double in your life, congrats to Mom & Dad. ~ Grandpa

 
At March 30, 2010 at 6:55 PM , Anonymous Anonymous said...

I too wish you and your family all the best. God Bless and keep you all safe and happy.

 
At March 30, 2010 at 7:30 PM , Blogger daj.bbs said...

Cong!

 
At March 31, 2010 at 5:12 PM , Anonymous Anonymous said...

Just received the 2009 Canadian 55555 1 ounce Gold Maple today. Very,very nice. Come on Mint, a little more excitement please.

Those smiles Michael will receive from his children will outshine gold, silver and every thing else we collect. Congrats Michael.

 
At April 1, 2010 at 12:39 AM , Anonymous Anonymous said...

Congrats. You are excellent in more ways than what we know from coins coverage. May the Lord bless you and your family.

Was wondering if you thought they would be making more fractional Buffalos? And if they did, how do you imagine this might impact the 2008-W prices (e.g., on sets)? It will still be the first year, low mintage and a blank after that year.

Thanks.

 
At April 2, 2010 at 6:52 AM , Anonymous Anonymous said...

Great Easter to all who celebrate it.

John paul

 
At April 5, 2010 at 8:19 PM , Blogger Stephen said...

Congratulations!

My little guy (also named Jason) is the main reason why I get up and do it everyday

 
At April 14, 2010 at 9:45 AM , Anonymous Anonymous said...

I thought I would point out that the number of 2008 W Gold Buffalo products for sale on eBay has almost doubled in the last month from approximately 100 items to 180 items. I have also noticed the sale prices have appeared to level off over that same period.

In a previous post on Michael's blogs, I mentioned that the prices would go up if the number of items decreased and vice versa. This appears to be holding true. My expectation is that 2008 W Gold Buff prices have hit a temporary peak and may not increase in price until more sellers exit the market. I do expect more long-term (few years) appreciation.

 
At April 21, 2010 at 6:52 AM , Anonymous Anonymous said...

Yesterday April 20, 2010 I went to the Philadelphia Mint to get some new quarters and Filmoore dollars. As I was checking out the display cases I spotted a 2009 Proof gold Buffalo which I purchased. So the long and short of it....sold out date should be changed to April 20,2010 as the gal behind the counter said it was the last one
available. She stated that she had sold one the day before
Congrats on the new addition to your family!!!!

 

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