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The American Gold Buffalo coin, also known as a Gold Buffalo, is a .9999 (24 karat) bullion coin. The United States Mint started producing American Gold Buffalo coins in 2006 in response to the high demand for 9999 pure gold coins. This gold coin follows the greatly admired design of the Indian Head nickel and has gained its nickname from the American Bison on the reverse side of the design. This was the first time ever that the United States Government has minted pure (.9999) 24-karat gold coins for the public.
Many gold investors and coin collectors alike find this gold bullion coin to be one of the most beautiful designs of all commodity gold bullion coins. The 1 oz American gold coin comes in only the 1 troy ounce size, unlike its cousin the American Gold Eagle, which comes in fractional gold coin sizes as well. These 1 oz gold buffalo coins are shipped by the US Mint in tubes of 20 coins per tube. The United States Mint makes two version of the American Gold Buffalo. A brilliant uncirculated (BU) version, which is the most common, and a proof version which is produced with an ultra cameo finish. The proof version of the American Gold Buffalo coin is significantly more expensive than the BU American Gold Buffalo and carries some collector value above the regular price of a BU Gold Buffalo. On the proof version, both the image of Native American and the Gold Bison is in a matte finish with the background in a glossy finish, making the images on both the obverse and reverse of the coin "pop" out of the coin.
The 1 oz American gold coin has a legal tender (face) value of US$50. Only 300,000 coins are produced each year. The design of the American Buffalo gold bullion coin is a modified version of James Earle Fraser's design for the Indian Head nickel (Type 1), issued in early 1913. The obverse (front) of the coin depicts a Native American, whom Fraser said he created as a mixture of the features of three chiefs from different American Indian tribes, Big Tree, Iron Tail, and Two Moons, who posed as models for him to sketch. Atop a mound of dirt on the reverse (back) of the coin stands an American Bison, which commonly are referred to as buffalo. The animal depicted on the reverse is believed by most to be the bison named Black Diamond, who lived in the New York City Central Park Zoo during the 1910s.
This 1 oz American gold coin is IRA eligible. It appeals to both collectors and investors alike and is recognized by gold bullion dealers worldwide.
