The 2007 Gold Buffalo Coin was the second year for the new series of 24 karat gold coins offered by the US Mint. The coins were available in one ounce size as either bullion coins for precious metals investors or proof coins for collectors.
As might be expected, sales of the American Gold Buffalo experienced a decline from the levels of the inaugural year, resulting in lower mintages for both options of the coin. The bullion coins showed a decline of about 60% from the prior year, while the mintage for the proof coin fell by more than 75%. Despite the sharp decline in sales, the 2007 Proof Gold Buffalo coin still outsold the one ounce 2007 Proof Gold Eagle, which is a testament to the enduring popularity of James Earle Fraser’s classic design.
The 2007 Gold Buffalo bullion coins were available through the US Mint’s network of authorized bullion purchasers. These bullion dealers are able to purchase the coins directly from the United States Mint based on the spot price of gold plus a markup. In turn, they sell these coins to other bullion dealers, coin dealers, and the public, as well as facilitate a two way market for the coins.
The 2007 Proof Gold Buffalo coins were available for sale directly from the United States Mint beginning on May 23, 2007. The coins were initially priced at $825.95 with a mintage limit of 200,000 coins. This represented a pricing increase of $25.95 and a mintage limit decrease of 100,000 compared to the prior year. The household ordering limit for the 2007 Gold Buffalo proof coin was initially set at 100 coins, although the limit was later removed.
The price of gold was $661.30 per ounce on May 23, 2007, the first day the proof version of the coin was offered for sale by the US Mint. During the year, the price of gold would rise, causing the US Mint to adjust the price of the 2007 Proof Gold Buffalo to $899.95 per coin.
2007 Gold Buffalo Mintages:
2007 Gold Buffalo Bullion Coin: 136,503
2007 Gold Buffalo Proof Coin: 58,998
2007 Gold Buffalo Specifications:
Mint Mark: none (bullion coin), W (proof coin)
Designer: James Earle Fraser
Composition: 24 karat (.9999 ) fine gold
Weight: 1.0001 troy ounce (31.1035 g)
Diameter: 1.287 inches (32.70 mm)
Thickness: 0.116 inches (2.95 mm)