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 American Gold Buffalo Coins

American Gold Buffalo Coins

Buy American Gold Buffalo Coins Online

In 2005, Congress passed Public Law 109-145—the Presidential $1 Coin Act of 2005—which, among other things, mandated that the United States Mint issue a .9999 fine gold bullion coin with a face value of $50 that is struck from gold newly mined in the United States.

The American Gold Buffalo is the only bullion coin in the United States to be minted with 24kt pure, .9999 fine gold.  Before 2006, only 22kt, or 91.67% pure gold was used by the United States Mint in its American Gold Eagle suit. The American Gold Buffalo, in fact, was specifically created mainly for competition, as many investors worldwide preferred 99.99% pure gold and turned to non-U.S. coins such as the Canadian Gold Maple Leaf suite. With the production of the Gold Buffalo, the government targeted these investors that wanted a purer bullion and thus recaptured its market share.

Collectable Gold Buffalo Issuances

While the United States Mint now issues only 1 oz American Gold Buffalo Coins with a $50 face value in Uncirculated and Proof varieties, it has in the past issued special Burnished and Reverse Proof varieties and fractional denominations.

In 2008, two of the most collectible modern gold coins ever minted by the United States were issued, the Proof Gold Buffalo and, never again, the Burnished Gold Buffalo in four different denominations.  However, because of the economic recession the United States entered into that year, the coins received little enthusiasm and were purchased in small numbers which now makes them highly collectible for their scarcity.  Both varieties were minted in the same weights and denominations as the American Gold Eagle suite.

Gold Weight (oz t)

Face Value (USD)

1

$50.00

1/2

$25.00

1/4

$10.00

1/10

$5.00

 

In 2013, to commemorate the 100th anniversary of the 1913 issuance of James Earle Fraser’s iconic Buffalo Head Nickel, the United States Mint released a Reverse Proof variety of the American Gold Buffalo.  The only other gold coin to have been issued in such a variety was the American Gold Eagle in 2006 to commemorate its 20th anniversary.  The design of the Reverse Proof Gold Buffalo is contrary to the standard proof variety with the devices now being deeply-mirrored and the fields are now instead matte or frosted.

American Gold Buffalo Designs

The American Gold Buffalo, minted exclusively at the US Mint’s West Point Facility, contains one troy ounce of .9999 fine, 24-karat gold, and replicates almost exactly the design of James Earle Fraser’s familiar 1913 Buffalo (a/k/a Indian Head) Type I Nickel that could be found in almost every American’s pocket change until shortly after the design’s discontinuance in 1938.

The Gold Buffalo’s obverse features the right-facing profile of an anonymous, but regal Indian brave.  In fact, it is speculated that Fraser actually modeled this brave after three Native American chiefs—Big Tree of the Sioux, Iron Tail of the Kiowa, and Two Moons of the Cheyenne.  LIBERTY, the year of mintage, and the designer’s initial F are prominently displayed. Additionally, the West Point Mint’s mint mark W appears on its Proof, Uncirculated, and Reverse Proof states. The bullion version does not display a mint mark.

While some numismatic controversy surrounds the identity of the model for the obverse, the American Bison that graces its reverse is quite well known: “Black Diamond,” then a resident of the Central Park Zoo in New York.

The words UNITED STATES OF AMERICA, E PLURIBUS UNUM, IN GOD WE TRUST, the weight in troy ounces, .9999 FINE GOLD, and the coin’s denomination complete the reverse.

The Future of the American Gold Buffalo

The Presidential $1 Coin Act of 2005 had only authorized the mintage of the American Gold Buffalo suite for a 10-year duration.  With the series having become Americana like the original Buffalo Nickel, Congress, in 2015, passed the Collectible Coin Production Efficiency and Cost Saving Act.  This law, among setting provisions for various gold and silver products, established the Gold Buffalo as the country’s permanent 24kt gold bullion coin and guaranteed its continuous production throughout the years to come.

Interested in Ordering American Gold Buffalo Coins from Goldmart?

Are you interested in purchasing American Gold Buffalo coins at the lowest prices online? Goldmart has an array of mint state, proof, and specimen coins to choose from, which are all guaranteed to be authentic. Call 1-800-470-0170 and speak to an account representative to place an order or sign up for a free account online and checkout through our secure shopping cart. The Goldmart team is more than happy to answer your questions and help you expand your precious metal portfolio.