American Buffalo 24-Karat Gold Coins Guide

Written by admin on October 24, 2009 – 6:37 pm -

Production the American Buffalo 24-karat gold coins were authorized by Public Law 109-145, dated December 22, 2005, also known as the Presidential $1 Coin Act.

The American Buffalo Gold coin’s obverse and reverse designs feature images originally prepared by noted American sculptor James Earle Fraser, once a student of Augustus Saint-Gaudens, for America’s 5-cent coin (nickel).

That popular coin, known as the Indian Head, or Buffalo, nickel was introduced in 1913 and showcases the native beauty of the American West.

The Native American depiction on the coins obverse is believed to be based on three different American Indians. Two of the American Indians who modeled for Fraser as he sculpted the coin were named by the designer before his death. They were known as Chief Iron Tail of the Lakota Sioux and Chief Two Moons of the Cheyenne. Although many have claimed to have had a sitting with Fraser for this design, he could not recall the name of the third person and satisfactory documentation has not yet been found to identify that individual. It is widely believed that the bison on the coins reverse was modeled after Black Diamond, a popular attraction at the New York Zoological Gardens.

In the first year of the coin’s issuance, 1913, there were two distinct varieties, the first showing the bison on a mound and the second with the base redesigned to a thinner, straight line. American Buffalo Gold Coins bear the original Fraser Type I design.

United States Mint American Buffalo Gold Bullion Coins

American Buffalo Gold Bullion Coins are the first .9999 fine 24-karat gold coins ever struck by the United States Mint and offered for sale through a network of Authorized Purchasers. These $50 gold coins are available to members of the public seeking a simple and tangible means to own and invest in 24-karat gold in the form of legal tender coins whose content and purity is guaranteed by the United States Government.

American Buffalo Gold Bullion Coins are available at many coin and precious metals dealers as well as many brokerage houses and participating banks. Pricing for precious metal investment coins typically depends on the market price of the metal. Click here to locate a dealer.

United States Mint American Buffalo Gold Proof Coins

The United States Mint produces a proof version of these coins for collectors. The term “proof” refers to a specialized minting process that begins by manually feeding burnished coin blanks into presses fitted with special dies. Each coin is struck multiple times so the softly frosted and highly detailed images seem to float above the field.

An official Certificate of Authenticity accompanies each coin. American Buffalo Gold Proof Coins sell at a fixed price and can be purchased directly from the United States Mint.

Product Information

All 24-Karat American Buffalo Gold Coins are struck at the United States Mint at West Point. The 24-Karat American Buffalo Gold Bullion Coins are minted and sold in the same manner as American Eagle Bullion Coins.

United States Mint Sales Totals for American Buffalo Coins

Year 2008 Proof Product Option Total Unit
2008 One Ounce Gold Proof 11,060
2008 Half Ounce Gold Proof 4,366
2008 Quarter Ounce Gold Proof 5,322
2008 Tenth Ounce Gold Proof 11,081
2008 4 Coin Gold Proof Set 7,803
2008 Program Total 39,632

Year 2008 Uncirculated – Product Option Total Unit
2008 One Ounce Gold Uncirculated 3,025
2008 Half Ounce Gold Uncirculated 3,237
2008 Quarter Ounce Gold Uncirculated 3,900
2008 Tenth Ounce Gold Uncirculated 11,380
2008 4 Coin Gold Uncirculated 6,049
2008 8-8-08 Double Prosperity Set Program On each American Eagle & Buffalo Half Ounce 7,622
2008 Program Total 35,213
Year 2007 Proof Product Option Total Unit
2007 One Ounce Gold Proof 58,998
2007 Program Total 58,998
Year 2006 Proof Product Option Total Unit
2006 One Ounce Gold Proof 246,267 $800.00
2006 Program Total 246,267

Source: US Mint

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