2018 gold buffalo obverse

American Gold Buffalo Sales Flat in October

Economic News
The U.S. Mint Sold 6,500 American Gold Buffalo Coins in October, down 7% from October 2017.

Through October 3, 2018, U.S. Mint has sold 114,500 American Gold Buffalo coins vs. 99,500 sold in all of 2017.

While 2018 American Gold Eagle sales lagged 2017 sales for most of the year, American Gold Buffalo (AGB) coin sales have already out paced 2018 sales. The U.S. Mint sold 6,500 AGBs in October a 7.1% an decrease from the 7,000 sold in October 2017. The U.S. Mint’s sales of 6,500 AGBs in October were down from the 11,000 AGBs sold in September.

October American Gold Buffalo Sales

October AGB sales of 6,500 were up from 7,000 sold in October 2017 but down from 17,500 from September 2016.

2006 - 2018 American Gold Buffalo October sales

2017 vs. 2018 American Gold Buffalo Sales

American Gold Buffalo coin sales in 2017 of 99,500 were the lowest annual total since the United States Mint began producing the AGB in 2006. Through October 31, 2018, the U.S. Mint has sold 114,500 American Gold Buffalo Coins, or 15,000 more than the U.S. Mint sold in 2017. Through April 2018, sales of AGBs were lower than sales of AGBs through April 2017. Sales of AGBs, however in each of May, June, July, August and September were much higher than the comparable months of 2017. October 2018 sales were slightly down from October 2017 sales.

2017 vs 2018 american gold buffalo sales

2017-2018 American Gold Buffalo sales

2018 gold buffalo obverse
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American Gold Buffalo Sales 2006 – 2018 (through October)

2006 - 2018 American Gold Buffalo sales through October

In times of financial turmoil, gold historically provides a safe haven. The time to buy gold is always before financial calamity occurs. Gold sales often act as a barometer as to the risks that are present in the market. In early 2018, U.S. gold sales appeared to be severely discounting those risks, while recent elevated gold sales at the U.S. Mint seem to indicate a recognition of the risks in the financial markets.

Gold buffalo reverse
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Total Gold Sales at the U.S. Mint

Combined sales of American Gold Buffalo and American Gold Eagle coins in 2017 were 402,000 ounces, the lowest annual total since 2007. Through the end of October 2018, the U.S. Mint has sold a total of 332,500 ounces worth of American Gold Eagle and American Gold Buffalo coins. American Gold Buffalo sales in 2018 have already surpassed 2017’s sales but American Gold Eagle sales through August are lagging behind 2017 sales despite a pick up in sales since May.

1986-2018 Total ounces of gold sold attributable to american gold eagles all sizes 1986 - 2018 through October

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 coins are IRA eligible.

American Gold Buffalo sales data from USMINT.GOV

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This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.