1 oz gold Buffalo proofs

[SecondCor521]

Hi all.

What is a fair price for a 2020 1 ounce gold Buffalo proof coin?

I know a person who paid $434 over spot. A local gold shop offered $20 over spot.

I understand about the gold value. I would have hoped or thought that these might have collectible / numismatic / other value as well.

Where would one go to sell these?

 

[AzDreamer]

Check ebay and APMEX for current selling prices.

Get a quote from APMEX using the link below.

https://www.apmex.com/sell-gold-sell-silver-overview

 

[Badger]

I don't know anything about coins but I did check ebay. It seems that prices are all over the place for the same year. Getting a fair price on the secondary market is one reason I don't buy "collectables" other than original art if I like it but I stopped doing that decades ago. Good Luck.



Cheers!

 

[steveark]

Nothing produced in 2020 has any coin collection value. Maybe it might when 3020 gets here, but that's a moot point.

 

[ncbill]

Bullion coins are valued for their bullion content only.

Proof sets won't command any premium on the secondary market.

 

[aja8888]

Bullion coins are valued for their bullion content only.

Proof sets won't command any premium on the secondary market.

yes, how true. I have U.S. proof sets from the 1970's and they are only worth about $15.

 

[SecondCor521]

Thanks all.

Have a request in to APMEX.

Ebay was all over the map for me as well.

I guess I can hope that spot goes up. ;-)

 

[SecondCor521]

APMEX offered $10 over spot.

 

[Jerry1]

So I guess you’re heading to the local shop? Seriously, anything over spot for what is essentially a bullion coin is pretty good. On a typical good eagle, bullion coin, they pay under spot. When they sell it to you, they charge over spot. Yep, they get you coming and going. It’s good to be a dealer. Though, they do take on a lot of inventory risk. Gold prices can change a lot and do it quickly.

 

[SecondCor521]

So I guess you’re heading to the local shop? Seriously, anything over spot for what is essentially a bullion coin is pretty good. On a typical good eagle, bullion coin, they pay under spot. When they sell it to you, they charge over spot. Yep, they get you coming and going. It’s good to be a dealer. Though, they do take on a lot of inventory risk. Gold prices can change a lot and do it quickly.

They're not my coins, so no.

Oh, I know about the spread. For a while I thought it would be fun to buy 1 oz silver coins as Christmas gifts for my kids. But I know they would just sell them, and paying $6 to give them $20 (approximately) was not worth it.

It's even better to be someone like Rosland Capital, who can advertise solutions to fear at a 20%+ markup. I guess TV advertisements and celebrity fees can cost a bit.

 

[Sunset]

When I looked at the apex link it shows they charge a huge premium for proof coins. The coins in a package that have been rated.

The unrated proof coins only demand a few hundred dollar premiums.

All too subjective for me.

 

[statsman]

DW says "thank you" for this thread, but it's not what you think. Let me explain.

My mom left me some silver eagle proofs when she passed. After seeing this thread, I decided to take a closer look. There are proofs from 1986 through 2011 (except for a couple of missing years like 2003 and 2005). No idea how much they're worth, but likely not worth the trouble to sell.

But in looking in the container holding the proofs and other coin sets, I found a small box that didn't look like a coin box. Inside was a bracelet that has several gemstones on it, and it's actually worth a bit. More importantly, it is my DW's favorite piece of jewelry.

The problem was she last saw it in early 2019 while we were living in the rental waiting for the completion of our house build. After we moved in June 2019, she lost track of it. Spent hours trying to find it, looking every month or so. She's elated that I found it, but neither of us know how it got into the coins container. Between that and DW's colonoscopy results (that's another story), DW is having a great month!

 

[SecondCor521]

@statman, I'm happy that you and your wife found the jewelry, and I hope her colonoscopy results were good.

...

As far as the coins go, as I mentioned, they're not mine. All I know is that they're 2020 proofs. Since they were ordered from Rosland Capital, I'm sure they're nothing special beyond being proofs.

If I think to I might ask the local shop if they know anyone who cares about the fact that they're "proofs". They're pretty trustworthy but I also expect them to be self-interested and rightfully so. So I don't really expect a profitable answer.

 

[Jerry1]

I don’t know a lot about coins, but with my limited knowledge, proofs are not worth more unless they are your main coins, like gold eagles or maple leafs. Even then, not worth much more than spot. They’re all predominantly bullion coins. OTOH, there are obviously some collectible coins that are worth significantly more than spit and condition would absolutely be a factor. Buffalo coins are bullion coins but as you’ve seen, someone is probably willing to pay a little more for a nice looking coin, even if it is primarily a bullion coin. Especially if the belief is that gold prices are on the rise. Best of luck in your research.

 

[Magus]

Hi all.

What is a fair price for a 2020 1 ounce gold Buffalo proof coin?

I know a person who paid $434 over spot. A local gold shop offered $20 over spot.

I understand about the gold value. I would have hoped or thought that these might have collectible / numismatic / other value as well.

Where would one go to sell these?

I always compare to sdbullion.com

 

[SecondCor521]

I always compare to sdbullion.com

Thanks! They appear to be offering $30 over spot, so the best so far.

 

[Running_Man]

DW says "thank you" for this thread, but it's not what you think. Let me explain.

My mom left me some silver eagle proofs when she passed. After seeing this thread, I decided to take a closer look. There are proofs from 1986 through 2011 (except for a couple of missing years like 2003 and 2005). No idea how much they're worth, but likely not worth the trouble to sell.

But in looking in the container holding the proofs and other coin sets, I found a small box that didn't look like a coin box. Inside was a bracelet that has several gemstones on it, and it's actually worth a bit. More importantly, it is my DW's favorite piece of jewelry.

The problem was she last saw it in early 2019 while we were living in the rental waiting for the completion of our house build. After we moved in June 2019, she lost track of it. Spent hours trying to find it, looking every month or so. She's elated that I found it, but neither of us know how it got into the coins container. Between that and DW's colonoscopy results (that's another story), DW is having a great month!

I am assuming none have been graded. Silver Proofs from that era if they were perfect grade MS70 are worth between $1,000 and $55,000. A dealer buying ungraded coins pays about 50-55 dollars and looks at them closely to see if worth paying the $25 grading fee to make a grand.

 

[ncbill]

When I looked at the apex link it shows they charge a huge premium for proof coins. The coins in a package that have been rated.

The unrated proof coins only demand a few hundred dollar premiums.

All too subjective for me.

I remain skeptical the OP would get any significant premium in the secondary market for proof bullion coins, even if they paid to be graded.

However, with older coins sometimes it can be well worth it.

Took a couple of 1800s gold coins (tragically, stored in the same paper envelope where they were allowed to clink against each other for decades) from grandmother's safety deposit box to the local coin shop.

Shop advised sending them out to PCGS for grading/slabbing...cost maybe $50 each back then?

One didn't qualify (worth only its bullion content) but the other graded so highly the coin shop offered several thousand bucks for it when it came back from PCGS.

I decided to buy out the other relatives and kept it for myself.

 

[SecondCor521]

Thanks, @ncbill. I wonder what the chances are that the random 2020 proofs my friend has might experience a similar result?

 

[Sunset]

Thanks, @ncbill. I wonder what the chances are that the random 2020 proofs my friend has might experience a similar result?

Your friend would have to look at each coin carefully with a magnifying glass, to see about scratches and wear. If they look prestine, it would be worth sending in a couple of the oldest ones to be graded.
Risking $25 when there is a good chance it would boost the value by some hundreds seems like a good gamble.

An on the other hand, if they are all scratched and gouged, then no need to send them in.

 

[SecondCor521]

Your friend would have to look at each coin carefully with a magnifying glass, to see about scratches and wear. If they look prestine, it would be worth sending in a couple of the oldest ones to be graded.
Risking $25 when there is a good chance it would boost the value by some hundreds seems like a good gamble.

An on the other hand, if they are all scratched and gouged, then no need to send them in.

I think they went straight from Rosland Capital, through the mail, and into my friend's safe and haven't been touched since. Probably in some sort of inexpensive protective container since I know they are "proofs", but I don't know as I've never bought from RC.

They're all presumably from 2020 as that's when they were bought. They could be a bit older I suppose.

I agree it's probably a good gamble, and will recommend it.

 

[Sunset]

I think they went straight from Rosland Capital, through the mail, and into my friend's safe and haven't been touched since. Probably in some sort of inexpensive protective container since I know they are "proofs", but I don't know as I've never bought from RC.

They're all presumably from 2020 as that's when they were bought. They could be a bit older I suppose.

I agree it's probably a good gamble, and will recommend it.

Just let him know to not jingle them around as it would devalue them.

I once found a 1825 penny, and thought I had quite the treasure since it was so old, not realizing that because it was very worn it's probably worthless.

 

[ncbill]

Just let him know to not jingle them around as it would devalue them.

I once found a 1825 penny, and thought I had quite the treasure since it was so old, not realizing that because it was very worn it's probably worthless.

My favorite is those (usually "junk" silver) coins whose previous owners have aggressively "cleaned" them to the point of having nearly no relief left.

 

[Chuckanut]

Are coins (proof, bullion, collectable, etc.) rising up again as some type of hedge against inflation, the weak dollar, irresponsible government spending etc.?

They did that in the 1970's and early 1980's. Despite the promises, coins and other collectables ended up being a faster and more efficient way to lose one's money compared to simply keeping one's money in ordinary savings accounts and CDs.

I remember one huckster talking about how he bought his wife an [-]infatuation[/-] inflation proof birthday present - a South African Krugerrand made into a necklace. I wondered when he would remove it from her pretty neck and sell it for a profit. And how long the marriage would last if he did that.

 

[Out-to-Lunch]

I once found a 1825 penny, and thought I had quite the treasure since it was so old, not realizing that because it was very worn it's probably worthless.

Well, it's still worth $0.01!