Market Calendar
The Retail Premium Index

Gold Buffalo Premiums Relative to Spot, Month by Month

In August 2026 the American Gold Buffalo 1 oz carried 5.4% over spot, or $241.15 an ounce over the metal value, against 2.3% for the gold composite in the same month and the reading sits in the 68th percentile of the product's own history.

Retail Premium Index, August 20265.4%$241.15 per ounce over spot68th percentile of its own history
August 20262 of 10 gold benchmarks this month
1-year average5.1%
All-history average5.1%141 months
Retail Premium Index gold composite, August 20262.3%

The year's range so far1.4% in June 2026 to 6.0% in July 2026

captured 31 Aug 2026 · How these numbers are made

Month by month

Compare against:
-20.0%0.0%20.0%40.0%60.0%February 2013December 2014September 2016June 2018March 2020December 2021September 2023June 2025
See the figures
American Gold Buffalo 1 oz and Gold composite, by month
CategoryAmerican Gold Buffalo 1 ozGold composite
February 201349.3%
March 201310.1%
April 201310.0%
May 20134.4%
June 20135.2%
July 20134.3%
August 20134.3%
September 20134.1%
October 20134.3%
November 20134.1%
January 20144.7%
February 20144.9%
March 20144.5%
April 20144.3%
May 20144.0%
June 20144.5%
July 20144.2%3.1%
August 20144.3%3.8%
September 20144.7%3.1%
October 20144.6%3.4%
November 20144.9%3.3%
December 20145.2%
January 20154.3%
February 20154.6%4.0%
March 20154.8%3.8%
April 20155.2%3.4%
May 20155.0%
June 20155.0%4.2%
July 20155.5%4.1%
August 20155.1%4.1%
September 20154.8%4.7%
October 20155.2%
November 20154.5%4.4%
December 20154.5%4.5%
January 20164.2%4.1%
February 20164.2%3.6%
March 20164.9%4.2%
April 20164.3%3.6%
May 20164.4%3.6%
June 20164.0%4.0%
July 20164.2%3.4%
August 20164.5%3.5%
September 20164.1%2.7%
October 20164.2%3.2%
November 20164.2%3.9%
December 20164.6%3.8%
January 20174.4%4.0%
February 20174.7%4.0%
March 20174.4%4.2%
April 20174.4%3.7%
May 20174.5%3.1%
June 20174.1%3.3%
July 20174.2%3.5%
August 20173.2%2.8%
September 20173.7%3.0%
October 20173.6%3.5%
November 20174.8%3.6%
December 20174.5%3.5%
January 20183.9%2.8%
February 20183.9%2.5%
March 20184.2%2.5%
April 20183.9%2.4%
May 20183.6%2.6%
June 20184.1%2.7%
July 20183.8%3.1%
August 20183.3%3.2%
September 20183.4%3.1%
October 20184.0%2.9%
November 20184.0%3.0%
December 20184.2%2.7%
January 20194.1%2.9%
February 20194.1%2.2%
March 20194.0%2.4%
April 20194.1%2.3%
May 20194.0%2.4%
June 20193.4%1.9%
July 20193.4%1.6%
August 20193.0%1.6%
September 20192.9%1.5%
October 20192.6%2.3%
November 20193.6%2.0%
December 20192.9%2.0%
January 20203.5%1.8%
February 20203.1%2.0%
March 20207.0%3.6%
April 202010.0%9.8%
May 20208.2%6.8%
June 20206.1%5.4%
July 20205.6%3.9%
August 20205.2%4.4%
September 20205.5%3.8%
October 20205.3%3.7%
November 20205.4%3.9%
December 20205.4%4.0%
January 20215.4%4.0%
February 20219.4%5.4%
March 202110.6%5.5%
April 20219.6%5.4%
May 202110.5%5.4%
June 20217.8%5.0%
July 20216.8%4.5%
August 20215.8%4.1%
September 20215.8%3.9%
October 20216.1%4.2%
November 20215.5%4.3%
December 20215.5%4.4%
January 20225.1%4.1%
February 20225.2%3.8%
March 20225.4%3.8%
April 20225.5%4.1%
May 20225.6%4.2%
June 20225.7%4.4%
July 20226.8%4.3%
August 20227.2%4.3%
September 20227.4%4.6%
October 202211.5%5.3%
November 20227.0%5.0%
December 20228.2%4.3%
January 20238.2%4.1%
February 20236.5%4.1%
March 20237.4%3.8%
April 20238.1%4.8%
May 20238.4%4.4%
June 20237.1%4.4%
July 20236.1%4.1%
August 20236.9%3.7%
September 20236.4%3.8%
October 20236.2%3.5%
November 20236.1%2.8%
December 20236.5%3.2%
January 20245.0%3.3%
February 20245.0%2.9%
March 20244.8%2.7%
April 20244.3%2.5%
May 20243.8%2.2%
June 20244.0%2.4%
July 20244.9%2.5%
August 20243.7%2.2%
September 20243.7%2.4%
October 20244.7%2.3%
November 20245.0%2.6%
December 20244.9%2.4%
January 20254.0%2.1%
February 20253.6%1.9%
March 20254.8%2.3%
April 20254.7%2.1%
May 20254.4%2.3%
June 20254.3%1.8%
July 20254.0%2.0%
August 20254.0%2.0%
September 20254.5%1.9%
October 20256.9%2.3%
November 20256.1%2.6%
December 20254.6%1.9%
January 20265.0%1.8%
February 20265.7%2.6%
March 20264.7%2.1%
April 20265.6%2.6%
May 20265.1%1.7%
June 20261.4%2.1%
July 20266.0%2.5%
August 20265.4%2.3%
Monthly premium over spot, February 2013 to August 2026, against the gold composite. Months with very few sales are drawn like the others here and left out of the averages and the high.

Based on SD Bullion transaction data. Figures before March 2019 are historical estimates.

Some months of this series were revised at the latest publish. See Revisions

Look up a month

The month's premium
5.4% · $241.15/oz
2026 range
1.4%-6.0%

What moves this premium

The United States Mint's .9999 fine one-ounce gold bullion coin, issued since 2006 with a fifty-dollar face value, the Mint's answer to the 24-karat Maple Leaf. Buffalo premiums usually sit a little above the Eagle's: struck in smaller quantities, purer gold, and a following among buyers who prefer 24-karat coins. The Eagle/Buffalo spread in this index tends to widen when demand for the purer coin runs ahead of demand for the Eagle.

What miners pay to produce an ounce is the other half of the picture: see what the tracked producers spend against the metal price.Miner margins

What the Mint sold

The United States Mint's monthly Gold Buffalo sales to its Authorized Purchasers: the wholesale pipe behind the retail premium. When the Mint sells little, dealers are bidding for scarce coins and premiums have often widened; when it sells a lot, they have often eased. Often, not always.

020k40k60k80kFebruary 2013December 2014September 2016June 2018March 2020December 2021September 2023June 2025
See the figures
American Gold Buffalo 1 oz: the Mint's monthly sales beside the premium
MonthCoinsOuncesStatusPremium
June 20264,5004,500 ozreported1.4%
May 202600 oz0 reported5.1%
April 20262,0002,000 ozreported5.6%
March 20262,0002,000 ozreported4.7%
February 202610,00010,000 ozreported5.7%
January 202626,50026,500 ozreported5.0%
December 20252,0002,000 ozreported4.6%
November 20251,0001,000 ozreported6.1%
October 20255,0005,000 ozreported6.9%
September 20259,5009,500 ozreported4.5%
August 20251,5001,500 ozreported4.0%
July 20252,0002,000 ozreported4.0%
June 20258,0008,000 ozreported4.3%
May 20256,5006,500 ozreported4.4%
April 202530,00030,000 ozreported4.7%
March 202512,00012,000 ozreported4.8%
February 202511,00011,000 ozreported3.6%
January 202532,00032,000 ozreported4.0%
December 20241,0001,000 ozreported4.9%
November 20246,0006,000 ozreported5.0%
October 202414,00014,000 ozreported4.7%
September 202415,00015,000 ozreported3.7%
August 202416,00016,000 ozreported3.7%
July 202422,00022,000 ozreported4.9%
Earlier months
American Gold Buffalo 1 oz: the Mint's monthly sales beside the premium: earlier months
MonthCoinsOuncesStatusPremium
June 202418,00018,000 ozreported4.0%
May 202419,00019,000 ozreported3.8%
April 20248,5008,500 ozreported4.3%
March 202410,50010,500 ozreported4.8%
February 202415,00015,000 ozreported5.0%
January 202446,50046,500 ozreported5.0%
December 20235,5005,500 ozreported6.5%
November 202314,00014,000 ozreported6.1%
October 202336,50036,500 ozreported6.2%
September 202318,50018,500 ozreported6.4%
August 202319,50019,500 ozreported6.9%
July 202316,50016,500 ozreported6.1%
June 202317,00017,000 ozreported7.1%
May 202347,00047,000 ozreported8.4%
April 202361,00061,000 ozreported8.1%
March 202373,00073,000 ozreported7.4%
February 202319,50019,500 ozreported6.5%
January 202359,00059,000 ozreported8.2%
December 202210,50010,500 ozreported8.2%
November 202239,50039,500 ozreported7.0%
October 202241,00041,000 ozreported11.5%
September 202224,00024,000 ozreported7.4%
August 202227,50027,500 ozreported7.2%
July 202214,50014,500 ozreported6.8%
June 202227,50027,500 ozreported5.7%
May 202244,00044,000 ozreported5.6%
April 202211,00011,000 ozreported5.5%
March 202233,50033,500 ozreported5.4%
February 202216,00016,000 ozreported5.2%
January 202261,50061,500 ozreported5.1%
December 202110,50010,500 ozreported5.5%
November 202139,50039,500 ozreported5.5%
October 202141,00041,000 ozreported6.1%
September 202124,00024,000 ozreported5.8%
August 202127,50027,500 ozreported5.8%
July 202114,50014,500 ozreported6.8%
June 202127,50027,500 ozreported7.8%
May 202144,00044,000 ozreported10.5%
April 202111,00011,000 ozreported9.6%
March 202133,50033,500 ozreported10.6%
February 202116,00016,000 ozreported9.4%
January 202161,50061,500 ozreported5.4%
December 202010,50010,500 ozreported5.4%
November 202023,50023,500 ozreported5.4%
October 202019,50019,500 ozreported5.3%
September 20204,5004,500 ozreported5.5%
August 202028,00028,000 ozreported5.2%
July 202030,00030,000 ozreported5.6%
June 20207,5007,500 ozreported6.1%
May 20202,5002,500 ozreported8.2%
April 202028,50028,500 ozreported10.0%
March 202065,50065,500 ozreported7.0%
February 20201,0001,000 ozreported3.1%
January 202021,00021,000 ozreported3.5%
December 20191,5001,500 ozreported2.9%
November 20195,0005,000 ozreported3.6%
October 20193,0003,000 ozreported2.6%
September 20192,5002,500 ozreported2.9%
August 20191,5001,500 ozreported3.0%
July 2019500500 ozreported3.4%
June 20193,0003,000 ozreported3.4%
May 20193,0003,000 ozreported4.0%
April 20196,5006,500 ozreported4.1%
March 20195,5005,500 ozreported4.0%
February 20196,0006,000 ozreported4.1%
January 201923,50023,500 ozreported4.1%
December 20181,5001,500 ozreported4.2%
November 20185,5005,500 ozreported4.0%
October 20186,5006,500 ozreported4.0%
September 201811,00011,000 ozreported3.4%
August 201820,00020,000 ozreported3.3%
July 201824,50024,500 ozreported3.8%
June 20186,5006,500 ozreported4.1%
May 201816,50016,500 ozreported3.6%
April 20182,0002,000 ozreported3.9%
March 20181,0001,000 ozreported4.2%
February 20182,5002,500 ozreported3.9%
January 201824,00024,000 ozreported3.9%
December 201714,00014,000 ozreported4.5%
November 20172,0002,000 ozreported4.8%
October 20177,0007,000 ozreported3.6%
September 20171,5001,500 ozreported3.7%
August 20173,0003,000 ozreported3.2%
July 20176,0006,000 ozreported4.2%
June 20172,0002,000 ozreported4.1%
May 20175,0005,000 ozreported4.5%
April 20173,5003,500 ozreported4.4%
March 20178,5008,500 ozreported4.4%
February 201715,00015,000 ozreported4.7%
January 201732,00032,000 ozreported4.4%
December 201612,50012,500 ozreported4.6%
November 201629,50029,500 ozreported4.2%
October 201628,50028,500 ozreported4.2%
September 201617,50017,500 ozreported4.1%
August 20169,0009,000 ozreported4.5%
July 201610,00010,000 ozreported4.2%
June 201614,50014,500 ozreported4.0%
May 201618,50018,500 ozreported4.4%
April 201619,50019,500 ozreported4.3%
March 20167,0007,000 ozreported4.9%
February 201619,00019,000 ozreported4.2%
January 201634,00034,000 ozreported4.2%
December 20151,5001,500 ozreported4.5%
November 201538,00038,000 ozreported4.5%
October 201510,50010,500 ozreported5.2%
September 201522,00022,000 ozreported4.8%
August 201520,00020,000 ozreported5.1%
July 201532,00032,000 ozreported5.5%
June 201521,00021,000 ozreported5.0%
May 20159,5009,500 ozreported5.0%
April 201510,00010,000 ozreported5.2%
March 20159,5009,500 ozreported4.8%
February 201512,00012,000 ozreported4.6%
January 201534,50034,500 ozreported4.3%
December 20144,5004,500 ozreported5.2%
November 201412,50012,500 ozreported4.9%
October 201421,00021,000 ozreported4.6%
September 201414,50014,500 ozreported4.7%
August 20148,0008,000 ozreported4.3%
July 20145,5005,500 ozreported4.2%
June 201416,00016,000 ozreported4.5%
May 201412,50012,500 ozreported4.0%
April 201417,50017,500 ozreported4.3%
March 201412,00012,000 ozreported4.5%
February 201412,00012,000 ozreported4.9%
January 201441,50041,500 ozreported4.7%
November 201314,00014,000 ozreported4.1%
October 201318,00018,000 ozreported4.3%
September 201310,00010,000 ozreported4.1%
August 201310,00010,000 ozreported4.3%
July 201318,50018,500 ozreported4.3%
June 201317,00017,000 ozreported5.2%
May 201312,50012,500 ozreported4.4%
April 201337,00037,000 ozreported10.0%
March 201311,00011,000 ozreported10.1%
February 201311,50011,500 ozreported49.3%
Gold Buffalo bullion coin sales in ounces, month by month, February 2013 to June 2026, on the same months as the premium chart above. The dashed line marks the month chosen in "Look up a month".

December is usually the Mint’s slowest month for bullion sales, about a third of a typical month for the one-ounce coins since 2013, and in some years the Mint reports no December sales at all. The Mint’s practice is to shift production to the next year’s coins late in the year; its file states no reason for any month.

bullion coin sales to Authorized Purchasers, not production, not retail demand

Source: United States Mint. Updated after each of the Mint's monthly postings; latest month June 2026.

About the American Gold Buffalo 1 oz

Issuer
United States Mint
Product type
Government-issued bullion coin
Gold content
1 troy oz
Fineness
.9999
Legal tender
Yes
Face value
Fifty dollars
Country
United States

Premium benchmark: standard 1 oz bullion American Gold Buffalo; proofs, graded coins and special releases are left out where they can be identified.

The Retail Premium Index

Questions buyers ask

What is the difference between a Gold Buffalo and a Gold Eagle?

Purity. The Buffalo is .9999 fine, so the coin is a troy ounce of gold and little else, while the Eagle is 22 karat and carries a hardening alloy on top of its ounce. Both are struck by the US Mint, both hold one troy ounce of gold, and both are measured here per ounce of gold.

Why is the Gold Buffalo premium higher than the Gold Eagle premium?

In more months than not, though far from every one. The Buffalo is struck in smaller quantities than the Eagle and has a steady following among buyers who want 24 karat gold, and both of those tend to hold its premium a little above the Eagle's.

Does the US Mint publish Gold Buffalo sales figures?

Yes. The US Mint publishes its bullion coin sales monthly, and this page shows the Gold Buffalo figures it publishes.

How to read this page

The Retail Premium Index publishes the average premium paid on retail orders at SD Bullion, month by month, for each benchmark bullion product. A premium is what a buyer pays above the metal value of the piece, as a share of that value; a dollar figure is shown only where the record carries it. It includes the mint's and the distributor's charges as well as the dealer's, so it is not a measure of dealer margin.

A premium can also be negative: when the metal price moves very fast, some products have sold for less than the metal in them, and the series shows that as it happened.

The Retail Premium Index is a free public resource published for educational purposes only. It is compiled from real transaction records and from market data we license, using the methods described on the methodology page, and we correct it when we find errors. It is not a price quote, an offer to buy or sell, or investment advice, and it may not match figures compiled by other dealers or from other sources, whose products, pricing and methods differ from ours. The methods, the products covered and the period covered may change over time; nothing about the continuation, consistency or method of the index is guaranteed, and any figure may be revised or withdrawn. Past premiums do not indicate future premiums. The figures come from one retailer's own records of completed orders, and for the months before March 2019 from estimates of what the metal was worth at the time of each sale.