The U.S. Mint Sold 2,000 American Gold Buffalo Coins in November.
The U.S. Mint reported selling just 2,000 one ounce 24K American Gold Buffalo coins November 2017. November sales of one ounce American Gold Buffalo coins fell from October’s sales of 7,000. In November 2016, the U.S. Mint reported selling 29,500 American Gold Buffalo coins.
2017 American Gold Buffalo Sales
American Gold Buffalo coin sales have slumped for most 2017 as have sales of American Gold Eagles coins. Combined November sales of American Gold Buffalo and American Gold Eagle coins were 14,000 ounces.
Sales of American Gold Buffalo Coins in November 2006 – 2017
American Gold Buffalo 2017 Sales Projection
If sales of one ounce American Gold Buffalo sales don’t suddenly surge, the 2017 series will be the rarest mintage in the coin’s history. Through December 7, 2017, the U.S. Mint has sold 86,500 American Gold Buffalo coins, the lowest mintage of any year. The annual record for sales of American Gold Buffalo coins is 323,000 set in 2006, the first year of the coin’s mintage.
Sales of One Ounce American Gold Buffalo Coins 2006-2016
Total U.S. Mint November Gold Sales – 14,000 Ounces
When November sales of American Gold Buffalo coins (2,000 ounces) are combined with American Gold Eagle (AGE) sales, including one tenth ounce AGEs (1,000 ounces); one quarter ounce AGEs (500 ounces); one half ounce AGEs (1,000 ounces) and one ounce AGE coins (9,500), the total gold sold at the U.S. Mint in November was 14,000 ounces, down from 177,000 ounces sold in November 2016.
Total gold sales at the U.S. Mint in 2017 were the lowest since 2007, the year before the financial crisis of 2008-09 began.
The brown line represents American Gold Buffalo sales and the black line the total of all American Gold Eagle sales, with the numeric total in ounces.
About the American Gold Buffalo Coin
American Gold Buffalo coins are 24K gold while American Gold Eagle coins are 22K. One ounce American Gold Buffalo coins are slightly smaller and lighter than their one ounce American Gold Eagle counterparts that contain 3% silver and 5% copper mixed in the alloy, bringing the total weight of a one ounce American Gold Eagle coin to nearly 1.10 ounces.
The American Gold Buffalo is the U.S. Mint’s answer to 24K gold coins issued by the Canadian and Austrian Mints. American Gold Buffalo coins are only minted in one ounce sizes, unlike their American Gold Eagle counterparts which are minted in one ounce, one half ounce, one quarter ounce and one tenth ounce sizes. In 2008, however, the U.S. Mint produced American Gold Buffaloes in one, 1/2, 1/4 and 1/10 ounce sizes. The coins were sold individually and in complete sets.
In 2006, their first year of mintage, 323,000 American Gold Buffalo coins were sold.
American Gold Buffalo sales data from USMINT.GOV
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.