American Gold Buffalo
The American Gold Buffalo was introduced by the United States Mint in 2006 as a new 24 karat gold bullion coin program. Production was authorized under Public Law 109-145, dated December 22, 2005. The new program was created in addition to the existing American Eagle Bullion Coin Program, which included 22 karat American Gold Eagle bullion coins.
Gold Buffalo Coins feature the design of the Indian Head or Buffalo Nickel. This collector favorite was designed by James Earle Fraser and minted from 1913 to 1938. The obverse design features the portrait of a Native American based on the composite of three real life subjects. The reverse depicts an American Bison on a mound, modeled after Black Diamond of the Central Park Zoo.
Gold Buffalo Coins for Precious Metals Investors
Gold Buffalo coins were the first .9999 fine 24 karat gold bullion coins ever produced by the United States Mint. The new coins were created in part to compete with 24 karat gold bullion offerings from other world mints, such as the Canadian Gold Maple Leaf and the Chinese Gold Panda.
The bullion coins were first available on June 20, 2006 through the US Mint's network of authorized purchasers. These large scale bullion dealers purchase directly from the United States Mint and then resell the coins to other dealers and the public. They are also responsible for creating a two way market to ensure liquidity. The one ounce bullion coins have been produced each year from 2006 to 2009.
Gold Buffalo Coins for Collectors
Since 2006, the US Mint has offered a proof version of the Gold Buffalo coin for collectors. These coins are minted using a special process which creates a high quality finish with cameo contrast. Raised elements of the coin design appear frosted, while background fields are mirrored. For 2006 and 2007, the one ounce Proof Gold Buffalo was the only version of the coin offered for collectors.
For 2008, the US Mint expanded the range of Gold Buffalo Coins available for collectors, offering a product line of collectible uncirculated Gold Buffalo coins. These coins were struck on specially burnished blanks and carried the "W" mint mark. Coins were offered in a range of weights including 1 ounce, 1/2 ounce, 1/4 ounce, and 1/10 ounce coins. That same year, the Proof Gold Buffalo offerings were expanded to include fractional denominations.
Despite relatively strong sales, the US Mint announced the discontinuation of fractional proof and collectible uncirculated Gold Buffalo coins after 2008. The following year, the US Mint only offered the one ounce 2009 Proof Gold Buffalo.
Composition and Specifications
The composition of the Gold Buffalo is 24 karat (.9999) fine gold. Each coin contains its stated weight in pure gold. The weight, content, and purity of each coin is guaranteed by the United States Government. The gold contained in Gold Buffalo coins is derived from newly mined domestic sources.
The one ounce coins have a weight of 1.0001 ounces, diameter of 32.70 mm, and thickness of 2.95 mm. The edge of each coin is reeded. For collectible offerings, the "W" mint mark appears on the obverse of the coin to the left of the portrait. Bullion coins do not have a mint mark.
