American Buffalo gold bullion up 45 percent in Auguest
- Published: Aug 27, 2014, 12 PM
Sales by the U.S. Mint to its authorized purchasers of 2014 American Buffalo 1-ounce gold bullion coins through Aug. 25 were already more than 45 percent higher than July’s figures.
The U.S. Mint reports August sales of 8,000 coins through Aug. 25 compared with 5,500 coins for all of July. During calendar year 2014, the Mint has recorded sales of 125,000 of the .9999 fine gold $50 coins.
For the first eight full months of 2013, sales of American Buffalo bullion coins to authorized purchasers reached 190,000 coins.
The American Buffalo bullion coins are not sold directly to the public, but are distributed through a series of authorized purchasers. The authorized purchasers purchase the coins based on the spot price of the metal on a given day plus a small premium per coin.
The U.S. Mint does sell the 2014 American Buffalo 1-ounce gold $50 coin in a Proof version offered as a numismatic version directly to the public. The price of each coin can fluctuate weekly, instead of daily like the bullion version sold to authorized purchasers. Pricing for the Proof version is based on the Mint’s pricing grid for numismatic coins containing precious metals.
Sales for the Proof 2014-W American Buffalo $50 coin reached 17,343 as of Aug. 25. As of Aug. 27, the coin was being offered by the Mint for $1,690 each.