Why do 1oz Gold Buffalos cost more than 1oz Gold Eagles?

Does anyone know why Buffalos cost more than Eagles?

They’re both 1 oz of gold.
They’re both made by the US Mint.

The only difference is a Gold Eagle has some silver & copper along with the 1oz of gold whereas the Buffalo is just 1oz of gold and nothing else.

I don’t understand.

note: I checked when the spot price of gold was the same for both so fluctuations in spot price do not matter.

 

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Yeah, I think it's more popular plus I could be wrong but I think the buffalos are 24k and the AGE's are only 22k.

 

The mint charges more for buffalos.

 

That’s true the AGEs are only 22K.

But they still contain a full 1 troy oz of gold just like the Buffalo.

Which means if a refiner took an AGE & Buffalo and melted them both down he would get the same amount of gold from each.

The American Gold Eagle just has additional silver & copper so it weighs more than 1 troy oz in total because it has 1 troy oz of gold + 8% silver in copper.

That’s why it weighs 1.09 troy oz instead of 1 troy oz like a Buffalo.

 

Are you sure? Do you have any sources or official statement of this?

 

The us mint website. The proof buffalos cost more than the eagles. I don’t see why that would be unique to just that

 

$90 difference of retail price between the two ... just check their website


vs

 

What are the amounted minted between both , I personally like the Buffalo better . JMO

 

https://www.usmint.gov/about/production-sales-figures

It’s somewhere in there

 

Supply and demand?

 

I don't remember the details - AGBs are more marketable in Europe due to the 24k content.

 

Yes I think it's that simple!

Well Blake, are you now gonna trade your two AGE's for a couple of buffalos? j/k

 

24k is more expensive to achieve than 22k. Btw, there is no silver in an AGE, only gold and copper. The smelter would lose money allowing silver in there. The proper term for gold and silver is electrum, and I do not believe the US has ever made an electrum coin.

 

an yet the US Mint site lists AGE as gold, silver and copper ??
isn't Silver worth more than Copper anyways ?!?!
91.67% Gold, 3% Silver, Balance Copper.

 

Nah I just wanted to buy another 1oz of gold next month and I already have some gold Eagles so I figured I would maybe get a Buffalo. But not if they cost more. :-/

 

There is indeed silver in American Gold Eagles. As Clawcoins showed you.

However by law there is a maximum on how much silver can be in one with the rest required to be copper.

So basically the coin is 1 full troy oz of gold (31.1 grams) + 3% silver (about 1 gram) and 5% copper (about 1.5 grams).

31.1g + 1g + 1.8g= roughly 33.9 grams which is exactly how much one weighs.

 

Proofs are something entirely different due to the fact they have collector demand.

Normal uncirculated bullion coins are different in that matter since they’re seen more as bullion than collectible coins.

 

I think you missed the point. A proof for either costs the same unless there’s an underlying cost with the metal composition, the same would apply for bullion

 

Yeah I've always wanted a 2008 Buffalo, like a 1/4, that would be very cool and rare due to mintage numbers. That said, the prices are crazy, even after all these years the prices seem to be holding strong!

https://www.ebay.com/sch/i.html?_fr...570.l1313&_nkw=2008+gold+buffalo&_sacat=11116

 

They make 1/4th Buffalos? O_O

Honestly I dont care about the date or mint or any of that. I just wanted a Gold Buffalo bullion coin to mix things up.


But at those crazy prices I think I might just stick with a Canadian .99999 wilderness gold coin.

I just like variety lol.