A One-Time Opportunity In Vintage Gold Coins
by Tom Dyson
September 20, 2006
In June 2006, the U.S. Mint issued a new gold coin called the $50 Buffalo. According to the blurb on the U.S. Mint’s website, American Buffalo Gold Bullion Coins are the first .9999 fine 24-karat gold coins ever struck by the United States Mint. It’s a very beautiful coin.
Over the last 90 days or so, the U.S. Mint sold 250,000 of these coins directly to the public, at $800 per coin. Many of these coins were snapped up by dealers and then resold on television infomercials at twice or three times the true value.
“The U.S. Mint is the largest coin dealer in the world and once in a while they come out with something the public loves,” says Van Simmons, the gold coin expert we always consult with on these matters. The $50 Buffalo is one of those coins.
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In total, the public channeled $300 million dollars into this new issue since the end of June.
Van Simmons called us up at the time and told us to buy as many of these coins as we could. He told us he was scooping up as many as the mint would agree to sell him, and so were all the other dealers he knew.
These are proof coins with the highest possible grades. They will always keep their value, he told us. We passed this information onto you. We even gave you the telephone number at the mint and the product code to use. We told you the coins would run out fast and you needed to act quickly.
What’s even more amazing is the fact that this feeding frenzy took place while gold prices were actually FALLING.
You can still buy these beautiful coins from the U.S. Mint if you’re interested; I’ve put the details at the end of this email. But the $50 Buffalo is not the subject of today’s opportunity. It only helped create it...
Because such enormous amounts of money have been channeled into this new issue – even as gold prices have fallen from over $700 to under $600 – demand for regular “generic” gold coins has fallen off a cliff.
“We have a situation (probably temporary) in which there are a lot of generic U.S. gold coins around and demand is slack,” says Van’s partner David Hall.
He says some large telemarketing firms have even recommended that clients sell their vintage generic gold coins and buy gold buffalos!
Generic gold coins are basically coins like the $20 Saint Gaudens minted between 1907 and 1933 in grades up to MS-64 or MS-65. There is a large, well established and liquid market for these coins and generally, they are very sensitive to the spot price of gold.
Van and David both say that $20 Saint Gaudens are way undervalued right now, and it’s probably the best bargain in the U.S. gold coin market.
David’s pick is the MS-66 $20 Saint Gaudens. Even though the price of gold is down only 14%, this coin has fallen over 40%. You can buy it for less than $2,500.
“I don’t remember that ever happening before,” he says.
P.S. If you have any questions about gold coins, ask the experts. You can contact Van Simmons or David Hall by sending an email to info@davidhall.com or calling 800-795-7575. Ask for a free copy of their newsletter too! It’s called “The Velvet Tray.”
P.P.S To order $50 Buffalo coins from the U.S. Mint, either call 800-USA-MINT, or order online at www.usmint.gov (click “Buy Online” and then type “BA6” into the search box on the left). International orders are accepted as well.
