Precious Metals

Sales end for Reverse Proof American Buffalo

The Reverse Proof 2013-W American Buffalo 1-ounce gold coin met with strong demand during a roughly four-week sales period, with buyers at the ANA convention near Chicago cashing in on the first coins to enter the market.

Coin images courtesy of James Sego, JMS Coins, segoja on eBay.

Final but unaudited sales by the United States Mint of the Reverse Proof 2013-W American Buffalo 1-ounce gold $50 coin reached 47,836 coins.

Tom Jurkowsky, director of the U.S. Mint’s Office of Public Affairs, said the morning of Sept. 6 that the sales counter to be posted on that afternoon would represent total sales recorded through the close of sales for the program at 5 p.m. Eastern Time Sept. 5.

Sales began at noon ET Aug. 8.

The highest daily sales were recorded on the first day, with 21,010 coins sold.

The Reverse Proof gold coins were initially offered at $1,640 per coin, subject to change weekly according to the Mint’s pricing grid for precious metals coins based on the London PM fix for the spot price of gold.

With the spot price of gold increasing, the U.S. Mint upped the sale price of the coins by $50 on Aug. 16, imposing a price of $1,690 per coin.

The price subsequently was increased another $50 per coin on Aug. 21, to $1,740, which remained in effect until the close of sales on Sept. 5. ¦

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