2008 American Gold Buffalo

Every 2008 Gold Buffalo version

Start with size. A one ounce coin is bullion (no mint mark, 189,500), proof (W, 18,863) or burnished (W, satin finish, 9,074). Smaller coins are always 2008 proofs or burnished pieces. Proofs: 18,884 tenth ounce, 13,125 quarter ounce and 12,169 half ounce. Burnished: 17,429 tenth ounce, 9,949 quarter ounce and 16,908 half ounce. Proofs have mirror fields with frosted design; burnished coins have an even satin surface with no mirror. Both came in Mint packaging with a certificate. The face value helps too: $5, $10 and $25 for the small coins.

Quick answers

How much gold is in a 2008 Gold Buffalo?

Each coin contains its stated weight of pure gold: 1/10 troy ounce in the $5 coin, 1/4 troy ounce in the $10 coin, 1/2 troy ounce in the $25 coin and one troy ounce in the $50 coin. The alloy is 99.99% gold.

How many 2008 Gold Buffalos were made?

189,500 one ounce bullion coins plus 116,401 collector versions (proof, burnished and special finishes).

Is the 2008 Gold Buffalo worth more than its gold?

The bullion coin trades close to its metal value plus a dealer premium. Collector versions in their original packaging bring a small premium.

Is the Gold Buffalo legal tender?

Yes. Each size carries a face value ($5, $10, $25 and $50), but nobody spends them: the gold is worth far more than the face value.

2008 Gold Buffalo by the numbers

The Mint sold 189,500 one ounce bullion Gold Buffalos dated 2008. That ranks 8th lowest of the 19 bullion dates from 2006 to 2024.

Against the dates around it, 2008 bullion sales were 1.4 times the 2007 figure and about the same as 2009.

Collector versions dated 2008 add up to 116,401 coins across 8 versions. The scarcest is the 2008-W 1 oz uncirculated (burnished) at 9,074; the most plentiful is the 2008-W 1/10 oz proof at 18,884.

What to check on yours

• Weigh and measure it. A genuine one ounce Gold Buffalo weighs 31.108 g and measures 32.7 mm; the fractional sizes are 3.11 g (1/10 oz), 7.776 g (1/4 oz) and 15.552 g (1/2 oz). Fakes are usually the wrong weight or the wrong thickness.
• Try a magnet. Gold is not magnetic, so a coin that sticks is not genuine. A coin that does not stick still needs the other checks.
• Look for the mint mark. Bullion strikes have none; proofs and burnished coins carry a small letter. A mirror field with frosted design means a proof, a soft satin look means burnished.
• Handle it by the edge and never clean it. Fingerprints, wiping and polishing leave marks that cost collector versions much of their premium.
• Keep the original capsule, box and certificate with collector versions. Coins that come with them are easier to sell and more likely to bring their full premium.

Nearly everything from 2008 except the bullion coin carries a collector premium. The one ounce burnished coin at 9,074 is the lowest mintage Gold Buffalo of all. The quarter ounce burnished coin at 9,949 is the fractional key, approaching significant rarity for the series and the one ounce proof at 18,863 is the scarcest one ounce proof of the early years. Fractional proofs and burnished coins sell best in their original packaging. The bullion coin trades for a small premium over metal value. Complete sets of the small sizes in matching packaging attract the most attention.

Launch and the 2008 specials (2006 to 2008)

The Gold Buffalo arrived in 2006 as the US Mint's first 24 karat gold coin. Congress authorized it in the Presidential $1 Coin Act of 2005 and the Mint chose James Earle Fraser's Buffalo nickel design, already one of the most admired in American coinage. Investors got a pure gold coin to compete with the pure gold bullion coins of other countries and collectors got a proof with a W mint mark from West Point.

The first year was a hit. The Mint sold 337,012 bullion coins and struck 246,267 proofs, a proof figure no later year has come close to. Sales cooled in 2007 to 136,503 bullion coins and 58,998 proofs. Then 2008 brought the program's most complicated year. The Mint added 1/10, 1/4 and 1/2 ounce coins in proof and burnished finishes and offered burnished coins with a W for the only time. Proofs and burnished coins in the small sizes came in Mint packaging with certificates.

The 2008 extras sold poorly at the time, which is exactly why collectors chase them now. The one ounce burnished coin sold just 9,074, the lowest figure of any Gold Buffalo. The quarter ounce burnished coin finished at 9,949, the lowest of the fractional coins and the one ounce proof fell to 18,863. Meanwhile bullion demand rose to 189,500 coins. If you have a Gold Buffalo smaller than one ounce, it's a 2008 and it deserves a careful look at its finish and packaging.

Mintage chart

Specifications

Frequently asked questions