American Buffalo 24 Karat Gold Coin – A Gold Masterpiece
The American Buffalo 24 Karat Gold Coin, more commonly referred to as the Gold Buffalo, was first minted on June 22, 2006, and was the first pure 24 karat gold piece that has ever been available to the public. Its tender value is $50.00. The proof price today is $950.00.
The coin was designed by James Earle Fraser, and is almost a replica of the American Nickel, taken from his original design of the American Nickel in 1913.
On the face of the Gold Buffalo, is the same Indian figure that Fraser had designed for the nickel. The Indian was designed from three American Indians from three different tribes.
The back side is the same buffalo standing on a mound of dirt, which came from Fraser's original design of the nickel. The bison was designed from a real life buffalo that resided in New York at the Central Park Zoo, and its name was Black Diamond.
The only difference between the back of the nickel and the back of the Gold Buffalo is that on the back of the Gold Buffalo you will see that the mound has returned, after it was taken off of the nickel in 1913, you will also see $50 1oz. .9999 FINE GOLD, and also the words IN GOD WE TRUST that has appeared on every minted coin since 1908. Only the proof coin has the mint mark W on the front of the coin.
The creation of the coin was to compete with the foreign 24 karat gold coins that were on the market. Since the American collectors could not get a completely 24 karat gold bullion from the United States, they were collecting gold bullion coins from other countries.
On June 22, 2006, the West Point Mint in New York sent two American Buffalo 24 Karat Gold coins to the Smithsonian because of its historical value.
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