The United States Mint began selling its 2011 American Buffalo Gold Bullion Coin exactly one week ago, on March 14, 2011.
Sales of the coins started out slower than last year’s issue, but they have seen a steady increase. The United States Mint’s first published sales figures were released last Wednesday which showed 21,500 sold. Their numbers increased by 4,500 on Friday and then by another 5,000 on Monday, bringing their first week total to 31,000.
The American Buffalo Gold Bullion Coin was the first .9999 fine 24-karat gold coin from the United States Mint. It hit the public in June of 2006 with sales of 99,500 and over 1 million have sold since then.
The artwork chosen for the bullion coins originally appeared on the 1913 nickel. That design, known equally as the "Indian Head" nickel and the "Buffalo Nickel," remained on the nickel until 1938. It was crafted by noted American sculptor James Earle Fraser, who once studied under the famous Augustus Saint-Gaudens.
It is said Fraser captured the native beauty of the American West with his design. The obverse featured a portrait of a Native American Indian while the reverse depicted an American bison.
The annual one ounce American Buffalo Gold Bullion Coin has a face value of $50. Its weight is 31.108 grams, and its diameter is 32.milimeters, or 1.287 inches. It is made with a reeded edge.
American Buffalo Gold Bullion Coins are not sold directly to the public from the United States Mint. Instead, the Mint sells the coins to their Authorized Purchasers who in turn sell them to coin dealers, precious metals dealers, brokerage houses, participating banks, etc. They then begin to make their way into the secondary market at prices, typically, a bit above the current price of an ounce of gold.
The following are several articles related to the bullion coin since their release.
2011 Gold Buffalo Bullion Coin
Staff | CoinNews.net
The United States Mint on Monday began selling the 2011 American Gold Buffalo Bullion Coin to its network of Authorized Purchasers (AP’s). The investment-grade coins entered the market during a time investors have been dumping stocks and commodities following the earthquake and nuclear crisis in Japan, making spectacular opening sales for the Buffalo pieces unlikely …
Buffalo Gold Coin Sales at 21,500
Staff | CoinCollectingNews.org
The debuting sales of 21,500 for the 2011 Buffalo Gold is significantly less than last year’s issue which debuted at 48,500 on its release day alone. But then gold prices were less volatile as compared to the ups and downs seen in recent days due to the various crisises in the Middle East, North Africa and Japan …
2011 Buffalo 24-Karat Bullion Gold Coin Sales Begin
Staff | CoinSalesFigures.com
As a comparison, last year’s opening coin sales figures were 48,500 on the first day they were released, April 29. Despite the fact that the 2010 issue was only available between April and September, their 2009 mintage was the second best for the series going back to their start in 2006 …
Staff | Numismatic News via Numismaster.com
The good news is that supply is plentiful enough that the Mint has not imposed its system of allocation on buyers. The result is everybody should get what they want for reasonable premiums. Supply of the other gold bullion coin, the American Eagle, has also been adequate so far in 2011, so there is no allocation system in place for it, either. …
