Coin Profile: Gold Buffalo

The Gold Buffalo coin is one of the most recent gold coins to have been created by the US Mint, and it’s certainly an interesting coin. The first 24-karat gold coin created by the United States government, it’s become a staple for gold investors around the globe for its pure gold but also for its beautiful American-inspired design.

Even though this coin is relatively new compared to other valuable gold coins from pre-1933, it still has an interesting history and intricate design that make it a great investment for experienced or novice collectors alike!

Read on to discover the history, value, and investment purpose of the Gold Buffalo coin!

Invest in gold buffalo coins today!

History

The Gold Buffalo coin is the first 24-karat gold coin ever created by the United States. Until this coin, no completely gold coin had been created in the US, although countries like Canada had created pure 24-karat gold coins such as the Gold Maple Leaf. The Gold Buffalo was created in order to compete with foreign gold coins.

It was first minted in 2006, with 337,000 bullion coins and 246,267 proof coins being minted that year. Since then, the number of coins that have been minted each year has fluctuated, usually between 140,000 and 220,000. In 2016, the 10th anniversary of the Gold Buffalo was celebrated.

This coin is different than the Gold American Eagle, which is not 24-karat gold. But, like the Gold Buffalo, it is also made entirely from gold mined in the US.

Design

Obverse

James Earle Fraser designed the obverse of the coin, which was taken from the Indian Head nickel that he originally designed in 1913. The obverse features a right-facing profile of a Native American man. The profile is not of any specific man, but Fraser has admitted that characteristics were taken from three prominent Native Americans—Big Tree of the Kiowa tribe, Two Moons of the Cheyenne tribe, and Iron Tail of the Sioux tribe.

The obverse also features the word LIBERTY on the upper right-hand side, as well as the minting date on the lower left-hand side. Below the minting date is the letter F, representing Fraser, the designer. The background of the coin is reflective, and the design is brushed.

The bullion version of the Gold Buffalo does not bear the “W” mint mark indicating that it was minted in West Point, New York. The proof coin, however, does bear this “W” on the left-hand side of the coin.

Reverse

The reverse of the coin was also designed by James Earle Fraser, and has the same origins as the obverse. This side of the coin features a left-facing American Buffalo, which Fraser was inspired by due to his upbringing in the Midwest. A buffalo at the Central Park Zoo in New York City served as the inspiration for the image. The buffalo stands on a mound, and on the mound is printed $50, the face value of the coin, as well as the weight and gold purity, 1oz .999 fine gold.

Underneath the buffalo’s mouth on the left-hand side is the phrase IN GOD WE TRUST, which is present on all United States coins. UNITED STATES OF AMERICA is printed along the top of the coin’s edge, and E PLURIBUS UNUM, which means “out of many, one,” is present on the upper right-hand side. The background on the reverse is also reflective, and the design is brushed matte.

Specifications

The Gold Buffalo weighs one troy ounce, or 31.10 grams, and is made of pure .9999 24-karat gold. The diameter is 32.77mm, and the thickness is 2.95mm. It has a reeded edge.

Minting

All Gold Buffalo coins are minted in West Point, New York. As stated earlier, only the proof coins bear the “W” mint mark on the obverse of the coin. The bullion coins do not bear this mark.

Value

The Gold Buffalo coins have a $50 face value. In 2006 when the coin was first released, it sold for around $800. Now, in 2020, the coins typically sell for around $2,000. Since these coins are pure 24-karat gold, their price typically is similar to that of one ounce of gold.

½-ounce coins ($25 face value), ¼ -ounce ($10 face value), and 1/10-ounce ($5 face value) versions of this coin were also minted, only in 2008, and the value of these coins reflects the current price for that weight of gold, in proportion to the one-ounce $50 coin.

Investing

Many collectors choose to invest in Gold Buffalo coins because of their gold value, to be sure, but also because of their beauty! Some numismatists collect one Gold Buffalo from each year it has been minted since 2006. The design of the coin is regarded to be one of the most beautiful in the world, so it makes a beautiful investment as well!

In addition, because the coin is made of pure 24-karat gold, it is easy to liquify if the need arises to sell your investment. At the very least, you will get the current value of an ounce of gold, even if interest in the coin itself happens to be low at the time.

The gold contents of the coin are backed by the United States government, which provides a guarantee of the coin’s worth.

And, because these coins have such a high content of pure gold, they are eligible to be held in a precious metals IRA! This fact alone makes them a good potential investment, as they can be securely held and used as a financial investment.

Invest in gold buffalo coins today!