Description
The American Buffalo, also known as a gold buffalo, the signature 24-karat bullion coin of the United States Mint. It fir became available on June 22, 2006, and available for shipment beginning on July 13. The coin follows the design of the Indian Head nickel and has gained its nickname from the American Bison on the reverse side of the design.
This was the first time ever that the United States Government has minted pure (.9999) 24-karat gold coins for the public. The coin has a legal tender (face) value of US $50. Due to a combination of the coin’s popularity and the tremendous increase in the price of gold since its creation the coin’s value has increased considerably in a short time of just a few years.
The Presidential $1 Coin Act of 2005 mandated the production of a one-ounce 24-karat gold bullion coin with a face value of $50 and a mintage limit of up to 300,000 coins.
The design of the American Buffalo gold bullion coin is a modified version of James Earle Fraser’s design for the Indian Head nickel (Type 1), issued in early 1913.
The obverse (front) of the coin depicts a Native American, whom Fraser said he created as a mixture of the features of three chiefs from different American Indian tribes, Big Tree, Iron Tail, and Two Moons, who posed as models for him to sketch. The obverse also shows the motto “LIBERTY” on the top right, the year of mintage on the bottom left, and below that the letter F for Fraser.
Weight = 31.108 g (1.0001 troy oz) Diameter = 32.7 mm (1.287 in) Thickness = 2.95 mm (0.116 in) Edge = Reeded Composition = 99.99% (24K) minting = 2006–Present
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