C and G inv 9822 Buckingham Lane Berlin, MD 21811 Cande & Greg White
Maryland's Largest Coin, Bullion & Jewelry Dealer!
( Well, Berlin's anyway. )
We accept VISA/MC, personal checks, cashier's checks, money orders, cash and PayPal.
All prices subject to change. Special order items ( dated, engraved, sized, custom) are not returnable.
Bullion items are only returnable at market value. No credit cards on bullion items.
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The U.S. Mint in West Point, N.Y., produces the one-ounce coins in two versions, a bullion version for investors and a proof version for collectors. The coins went on sale on Thursday, June 22.
The coin will feature images of a bison on one side and and Indian on the other, reminiscent of the classic Buffalo Nickel, minted from 1913 to 1938. The face value is $50, but the actual price will depend on the price of gold, plus markups. The mint does not sell the coin for just the price that the gold will melt for, and it has to be handled by several dealers before getting to the public.
The Mint sells the coins to authorized dealers based on the current price of gold, plus a premium to cover minting, distribution and marketing. Those purchasers will be able to sell the pieces to the general public, which currently purchases the Eagle coins.
The price of the proof coin, which bears the "W" mint mark of the West Point mint, is $875.Spot gold was worth about $625.00 an ounce September 2nd..
The Mint will sell two versions of the coin:
•The bullion coin, designed for investors. Authorized buyers distribute the coins to a network of several thousand dealers — coin shops, banks and other financial institutions.
The Mint bases its price for this coin on the market price of gold and a premium of about 3%; other markups in the distribution chain are expected to push the final sales price to about 7 to 8 % above the market gold price.
•A proof coin, aimed at collectors. This coin has a polished, proof finish and is struck twice under extra pressure.
Collectors can buy the bullion coins from dealers. This is the first time the Mint has produced a 24-karat coin, a designation that means the coin contains 99.99% gold as opposed to 91.67% gold content in the 22-karat coins.
Coins were available to the general public around June 28th. Prices vary each day with the gold market. Gold hit over $720 on May 11th, then fell after profit taking. Many anticipate gold could go to $1000 per ounce, but that is highly speculative, though possible.
Call or email to reserve your Buffalo coins for purchase from us. If placed on a charge card, prices will be slightly higher. Visit bullion for daily prices. Visit Eagles to purchase.
The United States Mint has minted a 24-karat American Buffalo gold coin. It will NOT replace the current bullion gold coin, the Eagle, but will add another group to the mint products base. While it will only be available in the ounce version this year, it is anticipated that there may be fractional coins in 2007, like the Eagle program has available.
