2010 American Buffalo Proof Coins Debut Week Sales

The 2010-W $50 American Buffalo Gold Proof Coins launched from the US Mint last week on Thursday June 3, 2010.  The Mint has now released figures on the initial week of sales.

Not surprisingly, the proof coins did quite well, however, not quite as well as they did last year.

According to the Mint, the 2010 Buffalos sold 15,071 orders in their premier week.  Calculating it out with the sales price of $1,510 per coin, and the Mint took in $22,757,210 gross on the coins. Comparatively, last year the Mint recorded sales of 19,468 units, and in only the first four days of sales.  Doing the math and plugging in the opening sales price of $1,360 per coin and the gross for 2009 initial week sales was $26,476,480.  Quite a bit higher than experienced this year.

Of course, the two might not be completely valid comparisons.  Last year the Mint was forced to hold off issuing the Proof Buffalos until late in the year.  Extreme demand for gold bullion coins meant the Mint did not have the resources to strike the Proof Buffalos earlier as it would have done in a normal year.

By late October 2009, the Mint had built up enough blank inventory to strike the one ounce Buffalos, which it did.  Demand proved quite high at that time for the coins, no doubt owing to several factors.

One of those factors was undoubtedly the late appearance of the coins - Collectors who were unsure of how long the strikes would be available had to purchase fast to avoid a sell-out.

Second, numismatic interest is always higher in the fall and winter months than in the summer months, which is probably hurting the initial sales of the coins this year.

Third, gold prices were much lower last year making them more attainable.

See World Mint Coins 2010 Gold Buffalo page for more information on the coin.

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