Description

The American Buffalo Coin is a 24-karat gold bullion coin produced by the United States Mint. It was first struck in 2006 and available to the public in June of that year. The coin has similar designs to the Indian Head Nickel (also known as the Buffalo Nickel). The moniker “Buffalo” comes from the American Bison engraved on the reverse design. This was the first coin the United States Mint produced with a gold content of .9999 (24 karats).

Coin Highlights:

• 17th issue of the American Gold Buffalo coin;
• Bears a face value of $50, backed by the US Federal Government;
• Contains 1 Troy oz of .9999 fine gold content in BU (Brilliant Uncirculated) condition;
• Obverse depicts a profile bust of a Native American Chief, revamped from the Indian Head circulating coins;
• Reverse shows an American Bison, hence the coin’s nickname “Gold Buffalo”.

Design

The designs on both verses of this coin are modified versions of sculptor James Earle Fraser original designs for the Indian Head Nickel, first issued in early 1913. The obverse depicts the head of a Native American Chief wearing traditional hair decorations. According to the artist, the final design is a mixture of features from different Native American tribes, the Big Tree, the Iron Tail and the Two Moons. The inscription “LIBERTY” appears on the outer rim, right in front of the figure’s forehead. The mint year is marked on the Native Americans shoulder, with the designer’s initial “F” right below.

The reverse shows an American Bison standing on a mound of dirt. Above the Buffalo’s lower back is the motto “E PLURIBUS UNUM”. Beneath the animal’s head is the other motto, “IN GOD WE TRUST”, as seen in all American coinage since 1908. Arching on top is the country’s name, “UNITED STATES OF AMERICA”. On the lower side is the face value of “$50” and the precious metal content “1 OZ. .9999 FINE GOLD”.

Mintage

All American Gold Buffalo coins are produced in the West Point branch of the US Mint. They contain 1 troy ounce of .9999 pure gold in BU condition. The coin has a diameter of 32.7 mm (1.287 in) and a thickness of 2.95 mm (0.116 in) with reeded edges.

The United States Mint introduced this coin into the market in 2006 as a competitor to other 24k gold bullion coins. Because the American Gold Eagle coins are produced with 22-karat gold (.9167 fineness), the Gold Buffalos came as an alternative for those looking for a gold coin with a purer alloy.

This coin bears a face value of $50 and enjoys legal tender status within the United States of America.

Precious Metal IRA
For products to qualify for a Precious Metals IRA, they must meet minimum fineness requirements that are set by the IRS. These 1 oz American Gold Buffalo coins are eligible for Precious Metal IRAs because they meet the .999 fineness requirement.