The 2009 American Buffalo Gold Proof coin went on sale yesterday, October 29. Based on the average price of gold for the period being $1,050.28, the coins were priced at $1,360 each, with no order limits or announced mintage limit. The current spot price of gold is $1,037.50, which could mean a price drop of $50 is in the future for this coin. No sales figures will be out for at least a few days, but since the Mint’s site didn’t crash the way it did with the launch of the Lincoln Chronicles set, it’s safe to say the demand has been more moderate. This may be due to the previously mentioned possibility of a price drop if the price of gold stays below $1,050 per ounce. It may also be due to the lack of a mintage limit, which could mean enough coins will be produced to fill the market demand and reduce the value of the coin in the secondary market. Time will tell!
