How much would you pay for a 1oz gold buffalo??

[James32]

Hi as the title mentions, I'm trying to gather opinions on a fair premium for a gold buffalo. So how much would you all pay? and at what point is the price just stupid? For example there's one right now in UK  (a new 2021 1oz bullion) for £1429 and with gold sitting at £1286 is that deemed fair/extortionate??

 

Edited November 2, 2021 by James32

[SilverJacks]

I'd say going rate for that coin...

[Mikew140]

I bought a new 2021 1oz gold buffalo not to long back @£1418 when spot was £1270.

[dicker]

Proof / bullion / new / preowned / year etc all play a part as with any coin.  

Without additional detail it is a bit of a a “how long is a piece of string” question.  

[James32]

28 minutes ago, Mikew140 said:

I bought a new 2021 1oz gold buffalo not to long back @£1418 when spot was £1270.

I said new 2021 and just bullion or I would've specifically said proof.

[James32]

29 minutes ago, Mikew140 said:

I bought a new 2021 1oz gold buffalo not to long back @£1418 when spot was £1270.

Yeah so it seems then its around the right price and I guess we just have to pay more in the uk. Dint see too many these days for some reason, always seem sold out.

[James32]

Personally think they are stunning coins.

[sixgun]

It's about 11% premium over spot. A new Buffalo from SD Bullion in the States is £1375. They will be selling plenty of these and there isn't the cost of sending them to the UK.
A 2021 coin is £1419 at Atkinsons at the moment.

Edited October 15, 2021 by sixgun

[UncleSam]

Funnily enough I bought one the other day, for £1439 on Bleyer billion. So it all depends how badly you want one. You are looking at around 10% premium on these coins.

[Mikew140]

6 minutes ago, James32 said:

Personally think they are stunning coins.

Yeah they are stunning, I had to have one in the stack. 

[SilverJacks]

I'd assume the listing you're referring to is Atkinson's? I may be stating the obvious, but it's always worth checking all of the usual suspects. Only one of them is cheapest and it's not always the same one since their prices change all the time.

8 minutes ago, James32 said:

Personally think they are stunning coins.

Agreed. They do look nice. Not sure they'd be top of my list, but could understand why people like them

[Roy]

5 minutes ago, sixgun said:

$1375

typo, $1876

 

[sixgun]

Corrected Mr Roy.

Edited October 15, 2021 by sixgun

[James32]

19 minutes ago, sixgun said:

It's about 11% premium over spot. A new Buffalo from SD Bullion in the States is £1375. They will be selling plenty of these and there isn't the cost of sending them to the UK.
A 2021 coin is £1419 at Atkinsons at the moment.

£1429 from what I can see.

[Roy]

Thank you Six,

It took me 0.00041 seconds to log into SDBullion when I saw your original quote!

I'm not a fan of the Buffalo (the coin I mean, the animal is very tasty) but at that price....

Edited October 16, 2021 by Roy

[Happypanda88]

Personally, I would not pay a high premium for a coin with a design that stays the same year on year.

There is nothing special about them other than say the mintage for certain years. For example, the recent gold Libertads. I view the buffalos in the same category.  Yes, there are nice. But at today's high premium, I wouldn't be tempted at all.    

[27carrots]

If you are patient, get an update when atsbullion gets some in and save £70.

As Happypanda88 says, they are the same every year so I don't see why the year matters.

They do get them in occasionally; I've seen them in stock at least twice since I started buying gold earlier this year.

https://www.atsbullion.com/one-ounce-gold-coins/1oz-gold-buffalo-coin/#.YWoztRwo-Ul

[Stu]

1 hour ago, Happypanda88 said:

Personally, I would not pay a high premium for a coin with a design that stays the same year on year.

There is nothing special about them other than say the mintage for certain years. For example, the recent gold Libertads. I view the buffalos in the same category.  Yes, there are nice. But at today's high premium, I wouldn't be tempted at all.    

Agreed, stunning coin but they bang them out, year after year. Would nab one at spot!

[KevinFlynn]

Buffalos are carrying between 5 and 6% over spot in Germany, as opposed to say Krügerrands, which are carrying about 3%. Libertad are carrying about 30%, so Buffalos are squarely in bullion country.

[365DaysofSilver]

It’s already been said but I agree, I would get an older year for near spot price

[modofantasma]

I paid almost 6% (5.8 or so) premium on mine a month or so ago delivered, 2019 with no marks or damage or scratches

They're readily available closer to 10% but personally wouldn't pay that much. Big fan of the coin but at the end of the day it's bullion. 

Set a dealer email alert when they pop in stock there was a chap on h here who got a slabbed one at a very low premium ATS when they get stock or maybe HGM have had the best dealer prices I've seen in UK 

[dicker]

4 hours ago, 27carrots said:

If you are patient, get an update when atsbullion gets some in and save £70.

As Happypanda88 says, they are the same every year so I don't see why the year matters.

They do get them in occasionally; I've seen them in stock at least twice since I started buying gold earlier this year.

https://www.atsbullion.com/one-ounce-gold-coins/1oz-gold-buffalo-coin/#.YWoztRwo-Ul

There are mintage differences in the years.  I believe 2019 was the lowest mintage year.

 

 

[James32]

Yeah the general consensus is set up allerts, and don't rush Into it as a better price will show up eventually (aim for 6% or lower).  Thanks guys/girls  and whist I had a feeling the near 10% premium was too much ,making posts like this allows folks to have a soundboard and it's highly appreciated. (Still love the coin though lol)

[Pete]

There would have to be a very good reason to pay for any bullion much above 5% over spot.
Unfortunately some coins will be priced with high premiums because the seller believes he /she can obtain this price but in my experience when it is time to sell it is difficult or sometimes impossible to get anything close to the premium paid.
 

[James32]

1 minute ago, Pete said:

There would have to be a very good reason to pay for any bullion much above 5% over spot.
Unfortunately some coins will be priced with high premiums because the seller believes he /she can obtain this price but in my experience when it is time to sell it is difficult or sometimes impossible to get anything close to the premium paid.
 

Yes agreed bud. When or if the time comes to move on I will loose out on some level  so best to wait till the right coin comes up. Thanks.