The $50 Buffalo Tribute Proof: Shiny Marketing, Thin Value
Some novelty companies capitalize on the allure of "one-of-a-kind" collectible coins, often marketed with a subtle implication of being sound investments or holding intrinsic value. But are these so-called collectibles truly worth anything now - or in the future? Are they investments worth considering, or merely clever marketing wrapped in shiny packaging?
The National Collector's Mint is just one among several companies marketing so-called collectible coins. Once reliant on catalog mail-order sales, they have pivoted to search engine and social media advertising, leaving the fading pages of traditional catalogs behind. Let's take a closer look at one of their offerings: the $50 Buffalo Tribute Proof, a coin frequently advertised on TV and social media as a must-have for collectors.

Advertised as "a recreated gold-clad proof of the $50 Gold Buffalo coin," this product is typically sold for $9.95 to $19.95. The name and description feel excessively florid and exaggerated, especially given the reality - these coins are made of bronze with only a very thin layer of gold coating.
Unlike the original $50 Gold Buffalo coin, these replicas have no currency denomination on the reverse face, which on the original includes "$50" and "1 OZ. .9999 FINE GOLD." On the obverse face, the word "COPY" is stamped over the braid in the Indian head's hair.
A closer look at the fine print in these advertisements reveals disclaimers like "NOT ACTUAL US CURRENCY" or "NON-LEGAL TENDER" tucked away at the bottom. These phrases make it clear that the coins are novelties, not real money. What's being sold is "commemorative decorative currency" produced by a private company with a name designed to sound like an official mint (although the company has started displaying in multiple places that they are not affiliated with, endorsed, or licensed by the U.S. government or the U.S. Mint). While the disclaimers are there, only a small fraction of buyers read the fine print before a purchase.
In coin collecting, "proof" refers to a specialized minting process that produces coins with sharp details and a mirror-like finish. However, in the case of replicas, "proof" is often used as a marketing term to suggest prestige or quality, rather than as a technical description adhering to the strict numismatic definition.
The marketing language used by National Collector's Mint cleverly intertwines the appeal of the genuine $50 Gold Buffalo coin with their replica product, subtly implying investment value. By emphasizing the popularity and historical significance of the actual coin - highlighting details like its full ounce of .9999 pure gold and its design based on the 1913 Buffalo nickel - the ad creates a sense of prestige. Then, seamlessly, the focus shifts to their own privately minted "$50 Buffalo Tribute Proof".
The description of the replica focuses on the genuine American Buffalo coin, naturally drawing on its value and allure. While this focus is expected for a replica, the marketing leans heavily on this association, subtly encouraging buyers to believe the replica shares the original's prestige, despite its lack of intrinsic or investment-grade worth.
Phrases like "...you'll realize why the new $50 Buffalo is so popular. Get yours now!" create a sense of urgency and exclusivity, but the reality is far less exciting. National Collector's Mint began issuing their privately minted $50 Buffalo Tribute Proof coins in 2010, and the only "new" feature each year is the updated date stamped on the coin. After over a decade of production, this yearly refresh hardly adds to the uniqueness of the product, as it remains fundamentally the same.
Some ads mention the coin's nearly one-ounce weight, though there's little reason to, as almost all of it comes from the bronze core. The gold content, just 14 milligrams, is a thin layer, leaving room for buyers to misinterpret its value.
Do These Specially Minted Coins Have Any Real Value?
But the coins are gold-plated - surely that must be worth something, right? Let's break it down and do the math to determine the actual gold value.
Assume gold is priced at $2,000 per ounce. Since there are 28,349 milligrams in an ounce, we can calculate the value of 1 milligram of gold by dividing $2,000 by 28,349, which equals approximately $0.070 per milligram.
According to the advertisements, these coins contain 14 milligrams of gold. Multiplying 14 milligrams by $0.070 gives us a total of $0.98.
That's right - the actual value of the gold in these coins is less than a dollar.
Does It Hold Any Value as a Collector's Item?
It's true that people collect items without intrinsic value, and some of these collections can still be worth something. While this is harder to calculate, we can get a sense of the market by examining the performance of a 2011 coin purchased years ago. By checking online marketplaces, we can see if its value has appreciated over time.

A quick search on eBay reveals quite a few listings for this coin. Despite its availability, the "sold" section shows that these coins rarely sell, and when they do, it's often for less than the original purchase price - especially when adjusted for inflation. This suggests that even as a collector's item, its value remains negligible.
Certificate of Irony Included
A "Certificate of Authenticity" is included with each coin - an ironic touch for a replica. While it may lend an air of legitimacy for some, to us it feels misplaced for a product that is, by its own admission, neither genuine currency nor valuable as an investment.

While the company operates within the bounds of the law and provides explanations about its offerings, its approach raises ethical questions. Critics argue that the combination of subtle marketing tactics and the nature of the product itself walks a fine line, leading some to view it as a borderline scam that preys on those who may not fully understand what they're buying.
In the end, the true value of these coins lies not in their gold content or collectability but in how much buyers are willing to believe the story being sold to them.