The first American Buffalo gold coin was issued by the US Mint in June 2006 under the 2005 Presidential $1 Coin Act. It was America's first 24-karat pure gold coin with 0.9999 fineness. In the past, investors who want 99.99% pure gold, had to purchase foreign 24-karat gold coins. The available purest US gold Bullion coins back then were standard American gold Eagles with 0.9167 fineness gold content. The 2006 American gold Buffalo coin was an immediate success. Over 300,000 coins sold out in the year of 2006, comparing to the total sales of 201,500 American Gold Eagles, the world's best selling gold bullion. The US Mint continued producing the American gold Buffalo coins in 2007 and 2008.
With a legal tender value of $50 US dollars, American Buffalo Gold Coin features almost the same design of the famous Buffalo Nickel from 1913 to 1938. Designed by the renowned American Sculptor James Earle Fraser, Buffalo gold coin portrays a Native American chief in the obverse side. The reverse side features an American bison on a mound of dirt, which is believed to be "Black Diamond," a popular Bison of New York's Bronx Zoo. Each coin is inscribed with "$50", "1 OZ. .9999 Fine Gold," "Liberty," "E Pluribus Unum," and "In God We Trust."
The 2006 and 2007 Buffalo gold coins have only been issued in 1 oz version. The US Mint also produces a proof version of , which features a very sharp degree of detail and mirror like surface after being struck multiple times. The US Mint issued 3 fractional sizes of Buffalo gold coin in 2008 besides the regular 1 oz American Buffalo gold coin, including 1/2 oz ($25 face value), 1/4 oz ($10 face value) and 1/10 oz ($5 face value) sizes. All American Buffalo gold coins are struck at the US Mint in West Point, NY. Only the proof version of the Buffalo gold coin bears the mint mark "W" on the obverse; the bullion version does not have the "W" mark.
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Wilson Snyder is a freelance writer. Learn more about American Buffalo Gold Coin at Buffalo Gold Coin.
