How to Invest in American Gold Buffalo Proof
- 1). Know how regular and proof Buffalo coins differ as an investment medium. A regular Buffalo gold coin is priced based only on the metal content. Dealers, including the U.S. Mint, normally sell them at the current market price for gold, plus a small premium. The value of Buffalo proof coins depends not only on the metal content, but on the demand among collectors for the limited number of proof coins minted. Expect to pay several hundred dollars over the current spot price of gold for a one ounce Buffalo proof coin.
- 2). Create an online account with the U.S. Mint. This works the same way as for any other online account with a merchant/vendor. You must provide your Social Security number, identification, and a credit or debit card number for payment purposes. It's important to do this before the next release date for Buffalo proof coins. Demand tends to be very high and they sell out quickly.
- 3). Monitor the U.S. Mint website for information on upcoming release dates for Buffalo proof coins. The dates can vary from year to year, so check frequently for updates. Do not try to place an order prior to a release date. The request will not be honored because the Mint has a policy of trying to give everyone an equal chance of obtaining Buffalo proof coins. In addition, as of 2009 mail-in orders are not accepted.
- 4). Place your order as soon as the newest Buffalo proof coins go on sale. It's strictly first-come, first-served, so the sooner you order, the better your chances.
- 5). Contact reputable coin dealers if you fail to get Buffalo proofs directly through the U.S. Mint or if you want to invest in coins minted in previous years. Caution is the watchword here. Never buy a Buffalo proof if it's not in the U.S. Mint packaging and accompanied by its certificate of authenticity. Good dealers may or may not have coins in stock, but they will be able to help you locate or order them from other dealers. You can use the U.S. Mint online dealer locator tool and/or the American Numismatic Association dealer listing search to find reputable coin dealers.
