Sales of the 2010 American Gold Buffalo bullion coin have reached 48,500 just one day after the United States Mint began accepting orders for the popular 24-karat gold bullion coins.
Earlier this week, the US Mint announced that they would accept orders from authorized purchasers starting on April 29, 2010. Similar to other bullion offerings, the United States Mint distributes the American Gold Buffalo coins through a network of authorized purchasers, who buy the coins in bulk quantities and then resell them to other dealers and the public.
The strong opening sales follow more than four months of unavailability for the Gold Buffalo bullion coins. Last year, the US Mint first offered 2009 Gold Buffalo bullion coins on October 15, 2009. The entire inventory of 200,000 coins was announced as sold out on December 4, 2009.
The one-day opening day sales for the 2010 Gold Buffalo actually approach the total monthly sales for the 2010 American Gold Eagle bullion coins. These 22-karat gold coins have been available to the US Mint’s authorized purchaser network since January 19, 2010. During the month to date, sales have reached 60,500. Total sales for the year to date (which includes sales of some 2009-dated coins) are currently 331,500.
Later in the year, the US Mint expects to offer the one ounce 2010 Proof Gold Buffalo coin. This collectible version of the coin will be sold by the US Mint directly to the public. The date of release and ordering details remain unknown. The coins will be priced under the Mint’s numismatic gold coin pricing policy, which determines prices based on the average weekly price of gold.