2018 gold buffalo obverse

American Gold Buffalo Sales Soar 566% in August

Gold News
The U.S. Mint Sold 20,000 American Gold Buffalo Coins in August.

Through September 7, 2018, U.S. Mint has sold 104,500 American Gold Eagle coins vs. 99,500 sold in all of 2017.

Sales of American Gold Buffalo coins (AGB) have been surging in recent weeks. The U.S. Mint sold 24,500 and 20,000 AGBs in July and August, respectively and has sold 6,500 through September 7. These recent sales are a dramatic turnaround from March sales of 1,000 American Gold Buffalo which was the lowest monthly total since February 2011 when no American Gold Buffalo coins were sold.

The U.S. Mint’s sales of 20,000 AGBs in August were up 566% from the 3,000 AGBs sold in August 2017.

Strong August Sales

August sales of AGBs were one of the best in the coin’s twelve year history.

August Sales of American Gold Buffaloes 2006 - 2018

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 September 7, 2018, the U.S. Mint has sold 104,500 American Gold Buffalo Coins, or 6,000 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 and August have been much higher than the comparable months of 2017.

American Gold Buffalo Sales 2017 vs 2018 through Aug

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

American Gold Buffalo sales 2006 - 2018 through August

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.

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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 2018, the U.S. Mint has sold a total of 275,000 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.

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

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.