The American Gold Buffalo Coin is the US Mint’s first 24-karat, purest gold coin. The Mint produces the Gold Buffalo coins in both bullion and proof versions. The beautiful hand-polished Proof coins, with their mirror-like finish, are especially appealing to both collectors and investors. To protect their high-quality cameo finish, the Mint issues them in protective capsules which are placed in boxes fit for display. Included with each one is a Certificate of Authenticity. These Proof coins are struck at the West Point Mint. Currently, JM Bullion has this first issue 2006-W 1 oz Proof American Gold Buffalo coin available for purchase.
- Arrives in a protective capsule in a mint-issued box!
- 1st year of the Proof American Gold Buffalo coin!
- Contains 1 Troy oz of .9999 pure gold.
- Total of 246,267 coins minted in 2006.
- Obverse features an indigenous Tribal Leader.
- Reverse features an American Buffalo.
- Fully backed by the US government, it bears a face value of $50 (USD).
- Includes a W mint mark from the West Point Mint.
The creation of the American Gold Buffalo coins is the result of Title II of Public Law 109-145, also known as the Presidential $1 Coin Act of 2005. It allowed for the striking and issuing of $50 gold bullion and proof coins, weighing 1 ounce, and containing .9999 pure gold. It also stipulated that the gold used in the minting of these coins comes from natural deposits within the US or in territories or possessions of the US.
Since many investors prefer .9999 pure gold coins, the American Gold Buffalo coins give the US an entry into the .9999 pure gold coin market. Other countries, such as Canada with its Gold Maple Leaf and China with its Gold Panda, already had 24-karat gold coin offerings. The 24-karat American Gold Buffalo allowed the US to keep pace with those countries.
The obverse of the 2006-W Proof American Gold Buffalo coin is a modified version of the James Earle Fraser design for the Indian Head nickel, which was first seen in 1913. Fraser said the chiefs from 3 different American Indian tribes allowed him to sketch them, and that this design is a composite of those sketches. The 3 chiefs are believed to be Chief Big Tree of the Kiowa, Chief Iron Tail of the Oglala Lakota, and Chief Two Moons of the Cheyenne.
The reverse of the 2006-W Proof American Gold Buffalo coin features the left-facing profile of an American Buffalo standing atop a mound of dirt. James Earle Fraser also created this design, which is believed to be based upon Black Diamond, the massive buffalo of the Central Park Zoo.
If you have any questions about 1 oz gold coins, please contact our JM Bullion Customer Service team to get them answered. We can be reached via phone at 800-276-6508, via our online live chat, or via our email.