U.S. Heritage Coins

		Minted by the United States Mint, the American Buffalo is the first .9999 fine 24-karat gold coin minted for the public. These legal tender coins, first minted in 2006, are produced from gold mined in the United States. Their weight, content and purity are guaranteed by the government. Prepared by sculptor James Earle Fraser, the coins carry the famous Buffalo-Indian Head design which graced the 1913 nickel.

Face Value 50 USD	Gold Content 1 troy oz	Fineness .9999	Weight 31.108 g	Diameter 32.7 mm

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2008 AMERICAN BUFFALO ONE-TENTH OUNCE GOLD PROOF COIN US $365.00 (22 Bids) End Date: Thursday Sep-09-2010 13:38:59 PDT Bid now | Add to watch list

The Gold Buffalo or the American Buffalo Gold Coin, as it’s also known, is America’s first 24-karat gold bullion coin. The United States Mint first offered this coin for sale on June 22, 2006 and shipments began on July 13. Prior to the issuance of the Buffalo gold coin the United States government had never issued pure 24-karat gold coins for public use. At the beginning, the coin had a face value of $50 USD and had an initial selling price of $800. The original purpose of the American Gold Buffalo was to compete with foreign 24-karat bullion coins and came about because of the Presidential $1 Coin Act of 2005 which required presidential dollar coin series to commence in 2007. The Act mandated the minting of up to 300,000 one ounce 24-karat gold bullion coins having a face value of $50. Because of the preference of investors for 99.99% pure gold, investors were looking to the foreign markets and securing coins such as the Canadian Gold Maple Leaf instead of investing in the 91.67% gold that was in use in the American Gold Eagle coin. The hope was to draw investors back to the U.S. gold market with the Gold Buffalo. The design that was used for the Buffalo gold coin is a modification of the Buffalo nickel (Type 1) that was designed by James Earle Fraser, a coin that was issued in early 1913. The obverse of the coin depicts a Native American man, which Fraser designed from three different American Indians from three different tribes. The reverse of the coin shows an American bison that is believed to be one named Black Diamond that lived in the Central Park Zoo during the 1910s.  Fraser’s nickel design has gained the reputation as being the best of any US coin design and as such was used as the design for the 2001 Smithsonian commemorative coin. Where the original Buffalo nickel has the words “FIVE CENTS” in the mound area, the new gold Buffalo reads “$50 1 OZ .9999 FINE GOLD.” To the left and underneath the head of the buffalo you can find the motto “IN GOD WE TRUST” which has appeared on all gold coins since 1908. The production of the American Buffalo gold coin is located at the West Point Mint in New York. According to information, available on the U.S. Mint website, the mint mark “W” that appears on the face of the coins is kept to only the proof versions of the coins. The 2006 and 2007 gold bullions  are only available in the $50 one ounce sizes but beginning in 2008 you can find $5, $10 and $25 USD gold coins produced with 1/10 oz, ¼ oz and ½ oz of gold. On September 26, 2008 the U.S. Mint made the announcement that it is putting a temporarily hold on sales of the American Buffalo coins due to its inability to keep up with the increasing demand caused by investors seeking the safety of gold in the volatile economic market that currently exists.