2008-W Gold Buffaloes on Fire

On July 22, 2008 the U.S. Mint offered Uncirculated and Proof Fractional Gold Buffaloes for the first time ever. And since their introduction, the coins have proved to be a huge success. As of April 2010, the coins have increased in price dramatically. The following information lists the Mint Issue prices, Current Wholesale Market Values and the percentage increase of each coin.

Based on the chart above, the 2008-W Uncirculated and Proof Gold Buffaloes have unquestionably proved to be winners in 2010. One factor that has made their prices increase have been their relatively low mintages. The fact that the U.S. Mint canceled the production of all Fractional Gold Buffaloes, making them a one-year type, has also played a major role. The coins are composed of pure 24 karat gold, attracting investors worldwide. The coins are also from a very popular design.

The Mint also canceled several other bullion modern coin issues, including several Gold Buffalo coins, and cancelled the production of several Gold Eagle coins. These actions have created a higher demand for the Gold Eagles and Buffalo gold coins that are being issued or have been issued in the past.

In the following months, we will get a better idea on whether these coins will remain real winners. If the coins were being hyped up by flippers or bought by individuals just to sell at a profit, the odds are that the coins will probably come down in price. If collectors are the ones who are buying them and in return holding on to them, prices should remain stable or go even higher. Time will tell.