Sunday, November 15, 2009

2008 American Buffalo Gold Coin

The year 2008 was quite a dramatic year for the American Gold Buffalo. The proof version of the Gold Buffalo was issued on 22 July 2008 at US$1,199.95 when spot price of gold was US$946.70. However, its price was adjusted on 13 November to US$1,049.95 (-12.5%) when spot price of gold fell to US$726.50 (-23.26%).

Different from the previous years of issue, the US Mint also issued fractional proof version: $50 face value one ounce coins, $25 face value 1/2 ounce coins, $10 face value 1/4 ounce coins, $5 face value 1/10 ounce coins and the 4-Coin Set containing one of each denomination. In additional, the US Mint also issued the 2008-W Uncirculated version, which were struck on specially burnished blanks and has a 'W' mint mark. The 'W' mint mark was used to distinguish the Uncirculated version from the regular bullion.

However, in late 2008, following the decision by US Mint to suspend sales of the 2008 American Gold Buffalo bullion in September, the US Mint also announced that the newly issued fractional proof version, together with the 2008-W Uncirculated fractional version would be discontinued. Hence, resulting the fractional Proof Buffalo and the 2008-W Uncirculated coins to be a one-year issue.

The mintage of the 2008 American Gold Buffalo are as follows:

Bullion Mintage
2008 Gold Buffalo Coin 189,500

2008-W $50 Gold Buffalo (1 ounce) 19,591 (11,660)
2008-W $25 Gold Buffalo (1/2 ounce) 12,569 (4,638)
2008-W $10 Gold Buffalo (1/4 ounce) 13,903 (5,972)
2008-W $5 Gold Buffalo (1/10 ounce) 19,294 (11,363)

2008-W $50 Gold Buffalo (1 ounce) 9,655 (3,124)
2008-W $25 Gold Buffalo (1/2 ounce) 17,679 (3,397)
2008-W $10 Gold Buffalo (1/4 ounce) 10,648 (4,117)
2008-W $5 Gold Buffalo (1/10 ounce) 19,075 (12,544)

It is necessary to note that the figures above include 7,931 sets of the 4-Coin Proof Set, 6,531 sets of the 4-Coin Uncirculated Set and 7,751 sets of 8-8-08 Double Prosperity Set. Figures shown in brackets are that of coins issued individually.

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