American Buffalo Gold Coins: The Basic Guide

American Buffalo Gold Coins are highly regarded as some of the highest-quality bullion coins in circulation. Minted by the United States Mint, these are the first 24-karat gold coins to have been produced by the US government with designs that depict the Buffalo Nickel. After the first release in 2006, these coins have become very popular among investors and collectors due to their fine design, made from precious metals of very high purity, and their face value.

On this page, full information about American Gold Buffalo coins is provided, including the history of these coins, their description, and details of their design.

Brief History

Introduced to the market in 2006, the American Buffalo Gold Coin is the first time the United States Mint has ever struck a 24-karat gold coin.

It came into circulation in the early 2000s due to increased demand for gold bullion coins after the success of the 22-karat American Gold Eagle. The US Mint wanted to acquire more investors and collectors for its products, and so it struck a coin with a higher concentration of gold.

The American Gold Buffalo was introduced as part of the Presidential $1 Coin Act of 2005, with an initial mintage of 300,000 pieces for both bullion and proof versions. The act also sought to use James E. Fraser’s Buffalo Nickel design on the obverse and reverse sides of the coin.

Since this coin was introduced into the market, the American Buffalo Gold Coins have emerged as one of the most popular coined bullion coins globally. Known for its stunning design, beautiful clarity, and high precious metal content, this coin is minted in an annual limited edition, which makes it very popular among both collectors and investors.

This Gold Buffalo coin is minted at the US Mint’s West Point, New York facility. It has a weight of one troy ounce and is made of 100% American-mined gold. The coin has a face value of $50 (United States Dollars).

Why Buy American Gold Coins?

Since the year 2000, gold prices have been on the rise in almost every calibrator, and this has seen a record high in sales of gold coins to private investors around the globe.

After the financial crisis of 2008, more and more internet-based gold merchants have started offering gold coins and gold bars to the investment community. The physical ownership of American gold coins through online purchases may also be used strategically by investors as a way of diversifying risks to their money and investment instruments.

Unlike other gold bullion coins that have different weights and sizes, the American Buffalo Gold Coins come in just 1 oz size, making it one of the most recommended gold bullion coins in the market by gold bullion experts.

Basic Features of American Buffalo Gold Coins

After their launch, more than 2,000,000 ounces of these American Buffalo Gold Coins have been purchased by investors as well as collectors from across the world.

The US government assures that each American Gold Buffalo coin contains a . 9999 fine gold content and features the exact troy ounce weight stamped on the coin. This guarantee is enforced by the US Mint.

Features of the American Gold Buffalo Coin:

Contains one troy ounce of fine gold.
Legal tender in the USA
Has a face value of $50 USD.
24-karat gold coin
Has .9999 fine gold purity
Private investment option, currently exempt from IRS when it is sold, gold dealer reporting in the USA.
Eligible for Gold IRA or Gold RSP investments.

American Gold Buffalo coins do not trigger the IRS 1099-B reporting requirements of dealers in gold in the United States, making this investment highly secure and without counterparty risk.

Design of the American Gold Buffalo Coin

The American Buffalo Gold Coins, known for its official 24-karat gold content, owes its popularity to its nostalgic design inspired by a beloved piece of American history: the magnificent mammal of the American plains, otherwise known as the buffalo or bison. This motif is similar to the Buffalo Nickel piece, which was originally designed by James Earle Fraser in 1913. Fraser, a student of Augustus Saint-Gaudens, who designed the 1906 $20 Double Eagle gold coin, was also responsible for the design featured on the American Gold Eagle coins.

Obverse Design: The head side features a Native American Indian, and the profile is actually a composite of three distinguished chiefs, namely Big Tree, Iron Tail, and Two Moons. The headdresses and braids of the portrayal appear to be an attempt at paying homage to Native American culture. The Inscription includes the word ‘Liberty’ imprinted above the chief’s forehead, the year of mintage, and the crest of ‘F’ for Fraser on the neck.

Reverse Design: The reverse side depicts an American Bison’s left profile, which somewhat resembles a buffalo and hence the name of the coin. The design is based on Black Diamond, a bison that was brought up from New York City’s Central Park Zoo. Comprising the portrayal of the American West, the reverse features ‘IN GOD WE TRUST’ and ‘E PLURIBUS UNUM’ mottos. Inscriptions on the coin include the face value, weight, purity, and metal content.

Bullion versions do not have the mint of origin, while proof mint coins have it adjacent to the year of minting.

The Value of the American Gold Buffalo

The 1 oz American Buffalo Gold Coins have a face value of $50 USD and are backed as legal tender by the United States Government, which enhances its credibility in the market.

However, as coins made of expensive material, Gold Buffalo Coins’ face value is not their real value as money, but their material value: their gold content.

Proof and bullion coins are amongst the most popular numismatic products and are bought and sold, especially due to their precious metal content and the premiums that are tagged along with these products. This means that the value of the American Buffalo is linked with its weight in gold. This price refers to today’s gold price together with the premiums levied by the dealers. This price refers to the gold spot price today, together with the premiums levied by the dealers.

Conclusion

Gold’s history dates back to ancient civilization- it can be used for ornamental purposes and also as a currency. Since bullion is an item with inherent value, investors might find bullion coins like the American Buffalo Gold Coins to be a rather smart investment with market fluctuations. The American Buffalo is highlighted as not only a good investment opportunity but also a beautiful and fascinating product. This is one of the most exotic 24-karat gold coin series as they depict an iconic America that symbolizes history and Western expansion.

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Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:

SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.

Feel free to send Kevin a message here.