Owner Comments:
A mintage of 18,863 is not particularly low for modern U.S. gold. Of the eight 2008-W proof and mint state Buffalo issues, the $ 50 proof is the second most common, but it is easily the most valuable of the eight. While this may seem counter intuitive, there are good reasons for it. First, when it comes to buying special issues from the Mint at a premium over intrinsic value, the public has a long and clear history of preferring the proof over mint state. This is clearly seen by the fact that proofs typically outsell their mint state siblings by a factor of at least 1.5 to 1, with 3 to 1 being most common. If a proof’s mintage is dramatically higher than its mint state sibling, it can damage the proof’s long-term desirability, but if they are close, the proof has the edge. Second, 2008 is the only year that the $ 5, $ 10 and $ 25 Buffalos were issued, and many collectors who want a four-coin proof gold Buffalo type set want all the coins to be 2008 issues. Thousands of the 2008 $ 50 coins have been absorbed by four-coin sets so they are not available to assemble proof $ 50 Buffalo sets. Lastly, the proof $ 50 gold Buffalo is the only surviving proof gold Buffalo denomination, so anyone interested in collecting proof Buffalo gold by date has to have this key coin. The demand for proof $ 50 gold Buffalos has been deteriorating as is typical for major offerings as they age. Below is a composite graph showing how the average new issue sees its sales drop over time. Sales normally get poorer and poorer until sometime after the fifth year. The 2008-W proof $ 50 Buffalo is the third red dot that does not follow the trend line due to the 2008 mintage crash.
Jordan, Eric; Maben, John (2012-05-10). Top 50 Most Popular Modern Coins (Kindle Locations 1037-1051). F+W Media, Inc.. Kindle Edition.