2015 American Buffalo gold coin sales off to slow start
- Published: Feb 2, 2015, 10 AM
In January, the U.S. Mint recorded sales of 34,500 of the 1-ounce, .9999 fine gold, $50 face value coins. That's 7,000 fewer coins, or 16.9 percent, below sales for January 2014.
January 2013 sales reached 72,500 coins. The U.S. Mint recorded no sales during the month of January for American Buffalo gold coins in 2009 through 2012, inclusive. Inaugural sales for the American Buffalo gold coins began in September 2006 under provisions of the Presidential $1 Coin Act of 2005.
American Buffalo gold bullion coins are not sold directly to the public. Instead, they are sold to a network of authorized purchasers who offer a two-way market for the coins. The authorized purchasers acquire the coins from the U.S. Mint for the closing London PM price per troy ounce for the respective precious metal plus a small premium. The coins are then sold for a markup to collectors, investors and other dealers.
While primarily sold as an investment vehicle, the American Buffalo gold bullion coins are also sought by collectors assembling collections by date.