In 2006, the US Mint introduced the American Gold Buffalo coin series. This series marks the first .9999 pure gold (24 karat gold) coins produced by the US Mint. This series is in addition to the existing American Eagle Gold coin series, which is struck in 22 karat gold. The Gold Buffalos are investment-grade coins, guaranteed by the US government. While having a $50 face value, this is deemed to be largely symbolic, as the value of the gold they are made from historically has been far greater. The Gold Buffalos are offered in both Bullion and Proof versions and struck at the West Point Mint. JM Bullion currently has the 2006 1 oz American Gold Buffalo Coin available for purchase.
- Arrives in a protective plastic flip!
- 1st year of the American Gold Buffalo coin series!
- Contains 1 Troy oz of .9999 pure gold.
- Bears a face value of $50 (USD), guaranteed by the US government.
- Total of 337,012 coins were minted in 2006.
- Obverse features the portrait of a Native American.
- Reverse features the portrait of an American Buffalo.
The American Gold Buffalo obverse features the profile of a Native American Chief. This design was originally created by James Earle Fraser for the Indian Head or Buffalo Nickel, which circulated from 1913 to 1938. This Native American Chief is believed to actually be a composite of 3 Chiefs: Chief Iron Tail of the Oglala Lakota, Chief John Big Tree of the Kiowa, and Chief Two Moons of the Cheyenne. This specific image is known by collectors as Fraser’s 1913, Type I design. Its use honors the legacy of our land’s first inhabitants.
The American Gold Buffalo reverse features the profile of an American Buffalo. This design was also originally created by James Earle Fraser for the Indian Head or Buffalo Nickel. The innovation for the buffalo is believed to be Black Diamond, the largest American buffalo ever held in captivity at the time. The strength of the American Buffalo is used to remind us of the pioneering spirit of our expansion into the nation’s west.
The Gold Buffalo coins are composed of .9999 pure gold. The Presidential $1 Coin Act of 2005, which authorized their production, mandates that the gold in the coins comes from newly mined domestic sources. These coins mark the first time the US government has produced 24 karat gold coins. This was done in part to keep pace with the 24 karat gold bullion offerings from other countries. While the Gold Buffalo coins are struck at the West Point Mint, the bullion coins do not have a mint mark.
Gold started 2006 priced at $530.00 per ounce. On June 22, 2006, the first day the Gold Buffalo coins were offered, the price of gold was at $583.10 per ounce. Gold finished the year priced at $632.00 per ounce, an increase of more than 23% over the previous year.
Please contact our JM Bullion Customer Service team if you have any questions when buying gold, we will be happy to help. We can be reached via phone at 800-276-6508, via our live chat, or via our email.