American Buffalo Gold Coin - Investing & Collecting
American Buffalo Gold Coin
The American Buffalo Gold Coin was recently introduced by the U.S. Mint as the first 24 karat gold coin ever struck by the mint. The Buffalo was authorized by Public Law 109-145, on December 22, 2005, also known as the Presidential $1 Coin Act. The American Buffalo Gold Coins are made of 24 karat gold, which is about 99.99% pure gold. They have a face value of $50 and contain 1 troy ounce of pure gold.
As with the American Eagle, the Buffalo must be coined from gold taken from newly mined sources in America. All the Buffalo coins are being struck at the U.S. Mint at West Point, New York. The design of the Buffalo's obverse and reverse comes from the James Earle Fraser design orignally found on the Buffalo Nickel of 1913-1938. The Buffalo uses the type 1 design, which was used in 1913.
The American Buffalo Gold Coins are available in one ounce size. The proof versions may be purchased directly from the mint, but the uncirculated coins are available from most major coin and precious metals dealers, as well as brokerage houses and participating banks.