In 2018, the price of gold decline slightly for the year, decreasing by 1.15% compared to 2017. From May to August, gold declined all the way down to about $1175, or 8% lower than the price at the start of the year of $1281. This translated into a modest increase in American Buffalo Gold Bullion coin sales at the United States Mint in 2018.
Sales of the 2018 American Buffalo Gold $50 Coin (Buy on eBay) opened on January 9, and first week sales were 13,000 coins, which was down almost 10,000 coins from 2017 during the same period. Monthly sales started off in January at 24,000, a typically strong first month sales level, but got as low as just 1,000 coins in March when gold was over $1300. The summer months, especially July and August, were also very strong ones with respective sales of 24,500 and 20,000, which tied in with lower gold spot at the time. For the year bullion sales totaled 121,500, which was a boost of 22,000 coins, or an increase of 22% compared to sales in 2017.
The 2018-W American Buffalo Gold Proof Coin (Buy on eBay) was launched on May 10 with an issue price of $1710, and once again no ordering restrictions or mintage limit and no change in the hardwood display case the coins are housed in. Sales during the first four days were 6,238, which was down from 2017 when sales during that period were 7,597. When sales concluded, the coin had sold a total of 15,756 coins with the price at that time being $1660, a $50 decrease compared to the opening price in response to slightly lower gold spot at the time. Although the mintage of the 2018 coin ended up being 54 lower than the 2017 issue, by this time collectors were becoming used to this coin having a comparable sales number under 16,000, so the 2018 issue did not see the kind of secondary market boost that other coins experienced.
2018 Gold Buffalo Specifications:
- Bullion Mintage: 121,500
- Proof Mintage: 15,756
- Mint Mark: none (bullion), W (Proof)
- Designer: James Earle Fraser
- Composition: 24 karat (.9999) fine gold
- Weight: 1.0001 troy ounces (31.1035 grams)
- Diameter: 0.116 inches (32.70 mm)