The United States Mint is releasing the 2024-W $50 Proof American Buffalo Gold Coin today, with a limited mintage of 16,000.
Obverse and Reverse
Each coin, produced by the West Point Mint, is crafted from one ounce of .9999 fine 24-karat gold and features designs well-known to coin collectors. Sales begin at noon EDT.
American Gold Buffalos were introduced by the U.S. Mint in 2006 as its first coins produced in 24-karat gold, available in both bullion and proof versions. Sales of the investment-intended bullion coins reach tens of thousands annually, with the first five months of this year’s sales totaling 99,500 ounces. Collectors tend to favor the proof versions, like the one being released today, which feature frosted design elements set against mirror-like backgrounds. Sales figures for recent year proof coins are shown further below.
Coin Designs and Specifications
Designs for both the obverse (head side) and reverse (tail side) of the gold Buffalo coins are taken from the 1913 Buffalo nickel, Type 1, as originally created by sculptor James Earle Fraser. This includes the portrayal of a Native American on the obverse and a buffalo (American bison) on the reverse.
Several individuals are said to have inspired the right-facing Native American shown. The portrait is surrounded by the inscriptions of "LIBERTY" and "2024." Also appearing is the artist’s initial of "F" and a mintmark of "W," indicating the coin was produced at the U.S. Mint’s facility in West Point.
The reverse design serves as the source of the name of these coins. The buffalo has "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM" inscribed above it, with "IN GOD WE TRUST," "$50," "1 OZ.," and ".9999 FINE GOLD" below it.
American Buffalo Gold Coin Specifications
| Denomination: | $50 |
| Finish: | Proof |
| Composition: | 99.99% Gold |
| Diameter: | 1.287 inches (32.70 mm) |
| Weight: | 1.0000 troy ounce (31.103 grams) |
| Edge: | Reeded |
| Mint and Mint Mark: | West Point – W |
| Privy Mark: | None |
Sales of Proof American Buffalo Gold Coins
The table below shows the opening price points and final (unaudited) sales for the 1-ounce proof Gold Buffalos since their introduction in 2006.
| Year of Issue | Opening Price | Sales |
| 2023 (released on April 13) | $2,940.00 | 15,534 (still available) |
| 2022 (released on May 12) | $2,790.00 | 15,943 |
| 2021 (released on May 14) | $2,740.00 | 16,969 |
| 2020 (released on April 9) | $2,315.00 | 11,887 |
| 2019 (released on April 12) | $1,660.00 | 14,844 |
| 2018 (released on May 10) | $1,710.00 | 15,756 |
| 2017 (released on May 11) | $1,590.00 | 15,810 |
| 2016 (released on March 31) | $1,590.00 | 21,878 |
| 2015 (released on April 9) | $1,590.00 | 16,591 |
| 2014 (released on May 8) | $1,640.00 | 20,557 |
| 2013 (released on May 23) | $1,790.00 | 18,594 |
| 2012 (released March 15) | $1,960.00 | 19,715 |
| 2011 (released May 19) | $1,760.00 | 28,683 |
| 2010 (released June 3) | $1,510.00 | 49,263 |
| 2009 (released October 29) | $1,360.00 | 49,306 |
| 2008 (released July 22) | $1,199.95 | 18,863 |
| 2007 (released May 23) | $825.95 | 58,998 |
| 2006 (released June 22) | $800.00 | 246,267 |
Fractional and reverse proof coin have also appeared in the series.
Ordering and Mintage
The 2024-W $50 Proof American Buffalo Gold Coin can be ordered directly from the U.S. Mint via their webpage dedicated to gold coins at a price of $3,240.00.
As with other U.S. Mint gold coins, the price may change weekly based on market conditions. The current price is based on gold’s average ranging between $2,300.00 and $2,349.99 per ounce.
In 2006 I purchased the first proof Buffalo for $800 dollars from the US Mint and have been purchasing one every year from the mint .In 2008 I bought both 4 pc buffalo’s proof and uncirculated. With the prices of the 2024 Proof Buffalo being so high I am not sure if I will purchase one. But just curious what the prices will be in 18 years from now comparing the price in 2006 and the price in 2024 any opinions?
I remember a time when I thought gold would never go over $500/oz. I think the coins will gain value but not at the rate of earlier issues. Mintage does seem to be going down as the prices increase. That may make these issues more valuable in time.
That said, I’m in at high noon.
In and out in less than one minute (and I’m a lousy typist).
By the way, has anyone figured out a new approach to cracking the available sales count numbers on each product page on the Mint site?
REB, I’ve tried but no luck. It looks to be a closely guarded secret now.
Ranks right up there with the Advance Bulk Purchasers or whatever that conveniently clandestine collection of coin caterers is called.
Mike, I think it’s very difficult to get unbiased forecasting for PM. I’d say everyone in the know seems to either be connected to the mines, traders, investment funds or bullion brokers — in other words, all with a conflict-of-interest and agenda IMO. I’ve been reading articles about $100/oz silver for years. LOL.
I agree completely with your conflict comment. Also, a majority of the YouTube silver stacking channels have now become nothing more then political mouth pieces and unfortunately their subscribers have become duped into thinking precious metals can go nowhere but up.
As they say ‘A fool and his (or her or whatever these days) money is soon parted’.
Just say “their”, in which case you have all of the bases covered.
The only problem is Kaiser, is that some of “them” will call “you” out for not being ID’d with “their” proper pronoun that “they” have made up from thin air.
I obviously have to whisper this, Rick, but I think politically correct speech in general and its nonsensical terminology in particular might just be yet another nail in the coffin of the English language. Well, I sure do hope nobody heard that.
I love simplicity…thanks, Kaiser.
You’re very welcome, Craig. I might bear in mind, however, that simplicity can quite possibly be subterfuge in disguise.
I purchased several Buffaloes from the mint in 2006 for $800 each. I’ve seen a nice 400% increase in their value (assuming I can sell them at the mints price point). I wonder, if one buys at todays price point , will they be valued at $13,000 in another 18 years? I guess it’ll depend on whether or not our government continues devaluing our dollar at its current rate.
Mint gold proofs will have to be sold relative to bullion spot prices. I think collector value is gone.
The 2008’s and their fractionals would be exempt. Everything follows spot to some degree though.
I agree with that which is why I’ve paused my AGE purchases from the mint. It just doesn’t make sense to me to pay their extreme premium fees for a gold coin. I have more than enough gold coins in my vault to satisfy my gold tooth, and besides, there are quicker ways to make money than buying precious metals. In addition to the fractional Buffalo’s, I also have the RP Buffalo’s and the UHR 2009 AGE. These also appear to deviate from spot pricing. For the record, I’ve never sold a single coin in my possession, although I have… Read more »
Does that take into account, Craig, that $800 in 2006 is equal to $1247 in 2024?
You can’t even buy a 1/2 oz. AGE for $1247 these days.
Craig,
While I was at CVS picking up a pile of prescriptions today I glanced at some of the prices on their “front of store” merchandise; I quickly realized how totally outrageous they were! Prices are indeed relative; it appears that even a 1/2 oz. AGE wouldn’t last for too many trips to the drugstore now!
If you can wait a year, you can get the 2024 proof cheaper next year than right now. Buffalos and eagle proofs don’t appreciate very well. Low secondary demand. At least if you buy bullion unc, your sell time to make a profit is much shorter if gold is appreciating
Another way of looking at how expensive, purchasing a 2024 PF American GOLD Buffalo is, by taking a look at the PM pricing range table for 2016. We’d have to have gold spot price between $2,900-$2,949(today) which would have meant a price of $3,260(2016) vs the $3,240 currently. Todays price of $3,240, is based on Au falling between $2,300-$2,349.99. If we take spot price of $2.3K-$2,349.99 and use the 2016 price grid, the 2024 Gold Buffalo would be just $2,660! That sounds a bit more like it, don’t you all think? LOL A $580 price decrease! Link below to the… Read more »
Actually, that $2,660 in 2016 is equivalent to $3,480 today.
Inflation Calculator
Here’s the picture for those that don’t want to try the link
I wish that were the case with my 2009-P Braille Unc.$1?
I bought it late 2009 for $39.95 (seems reasonable compared to today!)
I sold it this April for $ 24.89 and that included postage.(spot at the time)
Either I was mistaken thinking it would sell 15 years later for a profit.
Or I was mistaken to think a ‘lower’ Mintage Unc. commem with Braille on it would be wildly popular.
Either way, in my case I would say that the Blind were leading the Blind.
https://www.calculator.net/inflation-calculator.html?cstartingamount1=39.95&cinmonth1=13&cinyear1=2009&coutmonth1=5&coutyear1=2024&calctype=1&x=Calculate#uscpi
And the same day, this coin sold for $29 including shipping($4 over spot)early April. Paid $15 for it in ’16 or so…
It just goes to show you……
Rick, more often than not our coins will lose money due to fallen demand and cost of inflation over time. The commemoratives are a real enigma to me as to why they’re not more popular. I gather much of it has to do with the person or subject matter honored and depicted, but there are a lot of great designs IMO and low mintages– and some great deals to be had on eBay (good for the buyer, bad for the seller). I’ve picked up a lot of proof and uncirculated/burnished silver coins in OGP for less than bullion prices over… Read more »
Agreed, and that was a learning experience there! Only on rare occasions do I buy Silver Commems anymore. The recent GG set was my first Ag commem since the Boy Scouts release. My stacking after 2009 was Bullion only, as represented with the Kangaroos.
Rick,
I once bought Silver Commemoratives as if they were going to turn off the Mint spigot momentarily and forever. Now I can’t even be bothered, and I have no FOMO about it whatsoever. Easy does it (who will be so lucky as to find Ms. Easy).
Rick, Major D
I just got back from a local coin show and there were lots of US Mint silver commemoratives in the ~ $40 range (E-Bay ususally trends lower). I think the current silver prices bumped up the prices a little. I think I used to see them in the high $30s. I still have FOMO in some respect. Sometimes the coin I want becomes really hard to find on the secondary market. Foreign coins are worse. I collect the RAMint Silver Kangaroos and the NZPost Silver Kiwis and sometimes they just disappear.
VinnieC,
I could’ve saved you a Kangaroo!?!
Some good designs from our friends down there. $40 bucks sounds about right for those comems. Since I’m an auctioneer(bidding )with my bullion, and those commems were included it’s no wonder that they sold for spot.
ASE’s get the highest bang premium wise for obvious reasons. People are scooping up auction bullion like crazy. For whatever reason, they just love those cheap bars from APX or Silvertowne! Interestingly, they are even more rabbid when spot is climbing…
Rick, There are al least 3 different Kangaroo series. The one you sold was the kangaroo bullion from the Perth Mint. There is the annual Kangaroo series from the Royal Australian Mint which is is a numismatic coin and is of limited mintage. They come in Proof, Frosted Unc. and sometimes selectively plated. There is a different reverse (kangaroo) design every year. It is sort of like a cross between a US Mint commemorative and an American Silver Eagle (the non-bullion ones). Then the Royal Mint has the occasional Kangaroo at Sunset series (sometimes gold sometimes silver. To add to… Read more »
Yes VinnieC,
Those 2016 Perth bullion Kangaroos were a bargain compared to today’s market. Silver spot was down a lot in ’15 & ’16. I’ve heard of the Sunset series before.
I think I would like the RAM offerings more than Perth any way? Perth does a bunch of colorized animal stuff that I don’t prefer(my novice opinion). I did have a couple of ‘Cow’ colorized 1/4 oz coins years ago!
The last of my Perth goodies seen below. 3 humble little 1/10 ozers!
PS: You’ll turn a profit on those coins someday. Or your very lucky beneficiaries will!
Regardless of anything else, Rick, the 1/10 oz. format is a nice one!
VinnieC,
I could be troublesome and say I’m confused now too, but “unfortunately” you explained it all too well so I can’t make that claim.
Possibly, Rick, this is a case where the buyers are sufficiently confident that the overall rising values will carry aloft their own recent more expensive purchases to ever greater profits.
Yes Kaiser, and you have described me perfectly in that sense. On the other hand, and since I’ve been there personally long ago, is to somehow think that it’s smart to buy bullion on the parabolic uptic(March–now), rather than buying on the downturns. The psychology of FOMO is interesting indeed.
Lucky/instinctively for me timing wise, I was able to back the truck up during the flatness of mid Jan for a future margin call(well, not the truck exactly, but 40 lbs is a fair guess)…
As it has been said ad infinitum, Rick, buy low, sell high, unless of course you are Mike “Sold Out – Limited Edition” Mezack in which case you buy way lower and sell much higher.
Rick and VinnieC,
Advertising apparently does work. I almost read that opening statement above as “I could have had a V-8!”