The US Mint releases proof-finish versions of the American Eagle and American Buffalo gold coins each spring. Each coin goes through a special minting process using specially prepared planchets, which gives it a mirror-like finish that highlights the astonishing sculpted details.
The coins are sold directly to consumers through the US Mint website. The prices established by the mint are much higher than those of bullion issues. Proof finish coins have a limited annual mintage and are sought after by collectors.
Proof coins from the US Mint are also available on the secondary market through local coin stores and online bullion dealers. Resale premiums on proof-finish coins are higher than bullion. Dealer Buyback prices are often a few percent above melt value for coins in mint state.
2023-W Proof American Gold Eagle
These proof coins are struck from 22-karat gold and are a numismatic version of the US Mint’s popular bullion American Gold Eagle. However, unlike the bullion coins, each proof features frosted design elements against mirror-like backgrounds.
2023-W Proof American Gold Eagles, as well as a collection of the four coins in a set.
Denominations and Specifications
The size options with their corresponding denominations are shown in the table below.
| Face Value | Gold Weight | Composition | Overall Weight | Dimensions |
|---|---|---|---|---|
| $50 Proof | 1 troy oz | 22k gold | 1.0909 ozt (33.931 g) | 32.70 mm x 2.87 mm |
| $25 Proof | 1/2 oz | 22k gold | 0.5455 ozt (16.966 g) | 27.00 mm x 2.15 mm |
| $10 Proof | 1/4 oz | 22k gold | 0.2727 ozt (8.483 g) | 22.00 mm x 1.78 mm |
| $5 Proof | 1/10 oz | 22k gold | .1091 ozt (3.393 g) | 16.50 mm x 1.26 mm |
2023-W Proof American Buffalo Gold Coin
James Earle Fraser’s Buffalo Nickel design is captured in incredible luster and brilliance on the American Gold Buffalo coins.
Proof Gold Buffalo coins showcase the native beauty of the American West and continue to be popular among both investors and collectors due to their beautiful design, 24k gold purity and high quality mirror-like finish.
The American Buffalo is available only with a one troy ounce denomination. The 2023-W Proof Gold Buffalo coin has an mintage of only 16,000 coins.
Graded Proofs
Some investors ship proof-finish coins directly to third-party grading companies such as NGC and PCGS while wrapping them in the original shipping box from the mint. Grading specialists from these companies will open the boxes, inspect each coin for fine details, and assign a numeric grade.
Coin collectors use a 70-point scale for grading coins of all types, developed in 1948 by Dr. William Sheldon, an American psychologist and numismatist. After decades of revisions, the American Numismatic Association adopted the scale in the 1970s, and it remains the industry standard today.
Graded coins with a PR-70 rating, the absolute highest, can command significant premiums on buybacks, secondary market sales, and auctions.
Some investors look for opportunities to profit from the arbitrage between the initial release price and the price at which the graded coin is sold at auction or on the secondary market.