American Buffalo Gold Bullion Coins
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.
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.
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 premium price compared to the bullion version and in general are not suitable for IRA's.
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 gold bullion coins.
1oz American Buffalo Gold Bullion Coin ($50)
Weight: 31.1035 grams (1 troy oz)
Fineness: .9999 or 24 karats
Diameter: 32.7 mm
Fine Gold Content: 31.1035 grams (1 troy oz.)The fractional sizes (1/2 oz, 1/4 oz and 1/10 oz) of Buffalo gold coins are only available as part of a 4 piece set, therefore most investors buy the 1 ounce coins exclusively.
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Bullion coins offer one of the easiest and least expensive ways to acquire gold. There are a vast array of choices for obtaining gold ranging from U.S. produced to countries minting gold coins from around the world. Bullion coins enjoy a very liquid market and are the ideal way to acquire physical gold.
Bullion gold coins are available in a variety of weights from 1/10 oz, 1/4 oz, 1/2 oz as well as standard 1 oz sizes. This makes them ideal storehouse of value.
Numismatic Assets offers a variety of bullion coins and bars for your consideration, all available for immediate delivery. Call us for up to minute buy/sell prices on any bullion coin/quantities you have an interest in.
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