Bullion Demand Impacts Gold Buffalo Offerings

Bullion Demand Impacts Gold Buffalo Offerings

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The American Gold Buffalo is a 24 karat gold coin produced by the United States Mint. In the few years that this series has been minted, it has enjoyed steady popularity from precious metals investors and coin collectors alike. Recent increased demand levels for precious metals have impacted the release of some coins from this series.

A section of the Presidential Dollar Coin Act served as the Congressional authorization for the new series of coins. The American Gold Buffalo was first available for purchase by the general public on June 22, 2006. On this date sales of the bullion coin began to the US Mint’s network of authorized purchasers. The proof version of the coin could be purchased directly by the public, albeit at a higher premium.

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After the first two successful years of the program, the United States Mint took the bold step of expanding collector offerings. Instead of just the one ounce proof coin, a full range of fractional weight coins were available. Additionally, a collectible uncirculated version of the coin was produced in one ounce, one half ounce, one quarter ounce, and one tenth ounce weights. The economic environment of the time of release perhaps weighed on sales, and the US Mint made the decision to cancel the additional collector offerings.

In 2009, problems related to precious metals demand began to materialize. The US Mint announced the delayed production of both bullion and collector coins. The purpose of the delay was to focus available production capacity on the one ounce 22 karat Gold Eagle bullion coins, which were selling in large quantities. The delay and uncertainty continued until October when the coins were finally available in bullion and proof versions.

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The situation for the current year has improved, but the potential for issues remains. The bullion versions were available from April 29, 2010, a delay of a few months. The proof versions followed shortly thereafter. As the demand for physical precious metals continues to fluctuate, hopefully there will always be a place for the popular American Buffalo Gold Coin.

Looking to find additional information on Gold Buffalo Coins, then the site to find release information and mintage details of the 2009 Gold Buffalo and other coins.

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