What is the value of the Gold Buffalo Nickel Proof by National Collector’s Mint? From Dan in St. Louis
In order to comment on your questions, we reviewed the company’s commercial on their website and uses some terminology that is confusing people.
Please read our translation of this TV advertisement. You have to “read between the lines” of the commercial and catch all of the important bits of information.
|2011 $50 Gold Buffalo Tribute Proof||Obviously, this coin does NOT have a face value of $50.00. It is a tribute proof coin that has no face value. They are a novelty only and that is why they can sell them for under $10.|
|Description of ORIGNIAL Gold Coin “America’s purist gold coin ever. It was the first one ever struck using .9999 pure 24K gold” … “Price of the original edition is going through the roof.”||
They are describing the ORIGINAL coin. NOT the replica they are selling.
This coin is only a COPY of the original. It even has the word “Copy” printed on the coin.
|Clad in 14 mgs. Of Pure 24 KT Gold||
1) Clad means that it is only plated with gold and is made mostly of some other metal
2) 14 mgs. is worth is about $0.50 to $0.75 cents of gold value.
Read more about the value of 14 mgs of gold on our previous blog post.
|Distributed by the National Collector’s Mint||Despite the official sounding name, this is a private company. It is NOT an official US government mint. They make replicas|
|“With gold skyrocketing past $1,300 an ounce, price can only be guaranteed for 7 days.”||This is an area that could cause confusion as it implies that the market price of gold has an effect on the value of this coin. The reality is that the amount (14 mgs) of gold is so small that a change in the price of gold by $100 would only affect this coins gold value by 4.5 cents.|
The bottom line is that these tribute gold buffalo coins that you see advertised on TV have no gold value. People wishing to invest in gold should not buy these coins. Think of them more like commemorative spoons or plates.