Buffalo Proof Sales Taper Off
November 11, 2009
The latest weekly sales figures for the 2009 proof one-ounce Buffalo gold coin show that the rate of purchase by collectors has dropped substantially.
Some 8,487 were sold in the first full week of sales following the three-day onslaught that saw collectors scramble to acquire 19,468 pieces as sales began.
The total amount sold so far is 27,955.
By the end of the year will we see 40,000 or 45,000 of these coins sold?
It is probably too early to presume to know what the final sales numbers will be, but it probably isn’t too early to think that whatever the final number is, it will be significantly below the final number for the 2009 Ultra High Relief Saint-Gaudens $20, which is currently at 103,764.
If the Buffalo numbers run roughly half of the UHR numbers, will the coin be valued at a higher price than the UHR coin in future years?
Mintages are not the only factor in determining value.
Collectors forever onward will consider the UHR a desirable type coin and demand as a consequence will likely be forever higher than that for the 2009 proof Buffalo.
After all, if you want the type, you don’t have to buy the 2009 Buffalo, you can buy the proof 2006, 2007 or 2008, but you do have to buy the 2009 UHR.
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