The History of the Gold American Buffalo Coin
Ever wondered what an American gold buffalo coin is? Below, you can find everything you need to know about the coin and its history.
History
The American Buffalo Gold Coin, often known as a Gold Buffalo, was the very first pure 24-karat gold coin created by the mint for sale to the general public. It was originally made available in 2006 and has a legal tender face value of 50 dollars.
An ounce of 99 percent pure 24-karat gold is contained in each American Buffalo Gold Bullion Coin. These coins are used for investment purposes, with the US government strictly maintaining its purity, weight and content. The face value of the coin is 50 dollars, but it’s mostly symbolic, as the gold in the coin is valued historically.
The gold these coins are made of comes from the gold mines in the United States only, as directed by the law, and prohibits recycled gold to be used. They’re made at the United States Mint in West Point, New York, but there’s no mint stamp on them.
The United States Mint doesn’t offer these Buffalo coins to the general market. Prices are calculated using the current gold market price plus a slight premium to cover the cost of manufacturing and distribution.
Design
The depiction of the Native American on the coin’s front is based on the features of three chiefs from various American Indian tribes: Big Tree, Iron Tail, and Two Moons, according to Fraser. On the front, the motto ‘Liberty’ is on the top right, the year of mintage is on the bottom left, and the letter ‘F’ for Fraser is below that.
The inscription ‘E PLURIBUS UNUM’ appears over the buffalo’s lower back, while the ‘UNITED STATES OF AMERICA’ appears along the top of the American Buffalo gold bullion coin.
Specifications
According to the laws set by the US government, the American Gold coin has to be made from pure gold and should weigh 1 ounce or 31.108 grams. The coin has to have a diameter of 1.287 inches or 32.70mm, and have a thickness of 0.116 inches or 2.95mm.
At Orion Metals Exchange, we offer pure gold, silver, and other precious metals. We also have the facility of IRA for both gold and silver.
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