Gold Buffalo

[CoinCrusader42]

I have a friend who isn't a coin collector, but rather a coin speculator and invester.

I was talking with him last night and he told me he had bought three 2009 one ounce Gold Buffaloes.  I think he got them on eBay, but am not sure.

I know the price goes up and down along with the spot price of gold, but the friend told me he had paid $1,200.00 each for the coins.

Since I can't find any data, I keep wondering if this was a good deal.

Has anyone bought a 2009 gold Buffalo recently, and was the friend's purchase a good deal?

 

[templar]

I HAD THREE GOLD $50 BUFFALOES--2006-2007-2008--AND THEN I GOT THINKING--THE LAST TIME GOLD WENT WAY UP AROUND $800 AND EVERYONE WAS BUYING GOLD BULLION AND ALMOST OVER NIGHT IT DROPPED TO $300--LOTS GOT BURNED--SO I HAVE BEEN TALKING TO SOME FRIENDS AND DEALERS AND SO I TRADED MY BUFFALOES FOR SOME $2.5 DOLLAR GOLD COINS AND A $3.00 GOLD COIN ALL EQUALING THE SAME PRICE--FIGURING THAT IF GOLD TAKES A BIG DROP--THE RARER COIN NUMISMATIC GOLD COINS WOULD HOLD THEIR VALUE BETTER THAN NEWER COINS OR BULLION--TIME WILL TELL--BUT THE THEORY SOUNDS GOOD

 YOUR SERVANT--THE TEMPLAR

[Paint Your Wagon]

I bought a 2007 business strike for 3.5% over melt
They can be had for around 5-10% over melt on the european ebays ( that is the same price as any
bulk goldcoin )
Now the proof buffalo that is another story ; 30% over melt
Whether it is a good deal or not depends on what melt was on the day of purchase
Today 1150$ would be a fair price

[Paint Your Wagon]

I HAD THREE GOLD $50 BUFFALOES--2006-2007-2008--AND THEN I GOT THINKING--THE LAST TIME GOLD WENT WAY UP AROUND $800 AND EVERYONE WAS BUYING GOLD BULLION AND ALMOST OVER NIGHT IT DROPPED TO $300--LOTS GOT BURNED--SO I HAVE BEEN TALKING TO SOME FRIENDS AND DEALERS AND SO I TRADED MY BUFFALOES FOR SOME $2.5 DOLLAR GOLD COINS AND A $3.00 GOLD COIN ALL EQUALING THE SAME PRICE--FIGURING THAT IF GOLD TAKES A BIG DROP--THE RARER COIN NUMISMATIC GOLD COINS WOULD HOLD THEIR VALUE BETTER THAN NEWER COINS OR BULLION--TIME WILL TELL--BUT THE THEORY SOUNDS GOOD

 YOUR SERVANT--THE TEMPLAR

There are some old people that were in the business all their lives that think that this time gold is not going to come down . I think gold will go to anywhere over 3000 $ and then drop 30% . But a drop from 6000 down to say 4000 is not to be sneered at by todays prices . That being said I hedged my investments
Bulk coins , proof coins, and some very old coins and some essais .
Rare coins really have to be rare . I know someone who had MS64 double eagles like 50 pieces and he only made like 30% of what he would have made with bulk coins since the dealer took 35% selling and 35% buying and MS64 is not rare but only nice to look at in most coins

[AdamL]

1200 seems a little high.