Posts Tagged ‘american buffalo gold coin’

American Buffalo Gold Coin| Gold American Buffalo Coin: US Mint Suspends Production!

As of September 26, 2008, the US Mint has halted production of  the $50  American Buffalo Gold Coin.  The official word is that they cannot keep up with the demand for this coin.  Amidst the current economic recession, investors crave the security of an investment with intrinsic value.  Gold is the historically proven store of value in times of economic distress.

The American Buffalo Gold Coin was first made available in June & July of 2006, & was designed because American Investors were seeking Canadian Gold Maple Leaf coins & other foreign coins with a 99.99%, 24 karat bullion content, rather than the 91.67% bullion content if the American Gold Eagle coins.  The coin has a $50 denomination & contains 1 full ounce of 99.99% pure 24 karat gold.  In 2008, the coin was also minted in $5, $10, & $25 denominations with 1/10, 1/4, or 1/2 an ounce of gold in each coin.

American Buffalo Gold Coin Overview:

The design of the American Buffalo Gold Coin is based on the Buffalo Nickel which was created for the mint by James Earl Fraser in 1913.  This design is widely considered as the most beautiful coin in the mint’s history & this has translated very favorably when struck in gold as a huge 1 ounce coin.  The coins are beautiful as well as valuable, & the stability of gold in the midst of economic turbulence has made these coins nearly impossible to find through traditional channels.  When you can find the American Buffalo Gold Coin, you must purchase a minimum number of coin at a price 4-5% above the spot price of gold.  This puts currently puts the American  Buffalo Gold coin out of the reach of the average American investor at the time they could most benefit from owning them.

Why would the Mint Suspend Production of a bullion coin as popular as the American Buffalo Gold Coin?

Why would the US Mint discontinue the American Buffalo Gold Coin, a coin that would provide a shield to the economic losses currently experienced by so many?  The official reason is an inability to keep up with demand, but see my post on 1964 Silver quarters & Gresham’s Law to see what I feel is the real reason.  Good money drives out bad, & the Federal Reserve needs you to continue spending their worthless fiat currency & investing in the stock market to keep our debt based economy running.

The good news is there are always examples of the American Buffalo Gold Coin available on eBay & this may be the only way to purchase them at this time.

Like the coins featured in previous posts,  these coins will let you shelter an even larger chunk of money in a VERY small space.  Links to the current auctions are included & they update in real time. The eBay feed that imports these auctions has been sorted to remove auctions for gold plated junk that can confuse the unwary.  By buying only the slabbed coins graded by a reputable grading service you should be safe from counterfeit coins. Bookmark this page & check back often for more & more  American Buffalo Gold Coin auctions.

You must be a member of eBay to bid but Registration is FREE!

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[phpbay]gold buffalo, , “11116″, “3 reproduction copy no coa tribute colorized replica 22kt 22k kelly plated topps mini nickel airtite mormon token cufflinks packaging bars unknown clad airtite airtites only silver nickels obama capsules plt holders bezel 1938 reich bar repro version milling mixed 1936 D 1937 D toning”[/phpbay]

American Buffalo Gold Coin on eBay.