The 2006 Gold Buffalo Coin began the new series of 24 karat gold coins from the United States Mint. The coin design was based on James Earle Fraser’s Buffalo Nickel, a long time collector favorite. The American Gold Buffalo represented the first time the US government produced a coin minted in 24 karat gold.
Both bullion and proof versions of the Gold Buffalo first went on sale June 22, 2006. The bullion version of the 2006 Gold Buffalo was available through the US Mint’s network of authorized bullion purchasers. These coins were sold based on the spot price of gold plus a mark up.
The 2006 Proof Gold Buffalo coins could be purchased directly from the US Mint. The coins were priced at $800 and had an overall mintage limit of 300,000. An ordering limit of ten coins per household was in effect for the first several months of sales. Although the proof coins did not reach the maximum production limit, the tally of final sales was an impressive 246,267 coins.
Because of the higher mintage for this first year of issue, coins are readily available on the secondary market, although high grade certified examples will carry premiums.
The price of gold was $583.10 per ounce on June 22, 2006, the first day the 2006 Gold Buffalo coins were offered. Gold finished the year priced at $632.00 per ounce.
2006 Gold Buffalo Mintages:
2006 Gold Buffalo Bullion Coin: 337,012
2006-W Proof Gold Buffalo: 246,267
2006 Gold Buffalo Specifications:
Mint Mark: none (bullion coin), W (proof coin)
Designer: James Earle Fraser
Composition: 24 karat (.9999 ) fine gold
Weight: 1.0001 troy ounce (31.1035 g)
Diameter: 1.287 inches (32.70 mm)
Thickness: 0.116 inches (2.95 mm)