The Buffalo Gold Coins

Buffalo Gold Coins were minted for the first time in June 2006 after Congress authorized them in 2005. Both the bullion and proof Buffalo Gold coins are the first coins the United States government has minted using 24-karat gold. The gold that is used in these coins comes only from mining sources in the United States. Coin collectors were given this nice alternative to the Maple Leaf or Vienna Philharmonic gold coin. Although many collectors love the look and value of the American Eagle gold coin, it is only 22k gold as opposed to the 24k used in the Buffalo gold coin. The Buffalo coins are a reeded edge $50 coin that are made with 1 troy ounce of 24k gold and have a weight of 31.08 grams, are 0.116 inches thick with a diameter of 1.287 inches.

Design of the Buffalo Gold Coin

The design of the Buffalo Gold coin came from the talent and inspiration put forth by James Earle Fraser when he designed the Indian Head Nickel. The Indian Head Nickel is also referred to as the buffalo nickel because of the large buffalo that's on the reverse side of the coin. The design of this coin has been well-known and loved and is the most popular design to ever be designed on a coin. The front of the Buffalo gold coin has a profile of a Native American facing right with a headdress on and the words LIBERTY to the upper right of his face. Legend has it that Fraser had three different Native Americans posing for the design and he got ideas from each of them.

The reverse of the coin has a buffalo standing on a mound of dirt. It's believed that the buffalo, Black Diamond, was a member of the Zoological Garden in New York. The words UNITED STATES OF AMERICA are on the top of the coin with E PLURIBUS UNUM right below the word "AMERICA". Right below the buffalo's mouth can be seen the words IN GOD WE TRUST. The bottom of the fifty dollar buffalo piece has 1 OZ. .9999 FIND GOLD inscribed with $50 centered right above it. The design originally created by Fraser was later changed by Charles Barber and called type 2 buffalo nickel. This change has the buffalo standing on a level ground instead of on a mound of dirt. Although this change was made on the nickel, all the buffalo gold coins have kept with the type I design.

Different Editions and Mintage of the Buffalo Gold Coin

The Buffalo Gold Coins consist of two different editions: a bullion and a proof edition. Both of the coins were minted at West Point but the proof edition has a more detailed and lightly frosted image that almost seems to 'float'. This proof was designed to be a collector's coin rather than for distribution and use. Because the proof has to be struck many times and put in a special die manually, it sells as a much higher price than the bullion edition. The bullion version of the Buffalo gold coin is used for investment purposes and, although available from coin dealers, has a price that changes along with the price of gold.