The American Buffalo gold coin released in July of 2006 was the center of attention of the investment and collector world. The American Buffalo gold coin is the first one ounce bullion with a gold purity of 99.99% or pure 24K gold. This coin is known as the Gold Buffalo.
This was made possible by the Presidential $1 Coin Act of 2005 which mandated the making of the American Buffalo Gold Coin. The face value of this coin is $50 which was available as proof coin or non-circulated coin.
The Value Beyond Being 24K Gold
The predecessor of the Gold Buffalo is a piece of monetary history. The first line of American Buffalo coin was first produced by the United States Mint in 1913.
This 1913 American Buffalo gold coin was designed by James Earle Fraser. The obverse of the coin illustrates a Native American man whose features were based on three American Indians: John Big Tree, Iron Tail and Two Moons. These three men came from different American Indian Tribes.
Chief John Big Tree was a member of the Seneca Nation. His features from the top of the forehead and his upper lip might have been used to create the profile of the Indian head of the 1913 nickel. He might have also inspired the End of Trail which is a famous work of Fraser.
Iron Tail or Sinte Maza was from the hills of South Dakota. He belonged to the tribe known to be the first nations people. He fought along side Sitting Bull at the Battle of the Little Big Horn which was the most well known battle of the Indian Wars. During the battle, the Indians defeated the US 7th Cavalry of seven hundred men.
Two Moons is also another big name during the Battle of Little Big Horn. He was the chief of the Cheyenne Native American Tribe.
The reverse side of the coin is an American Buffalo which roamed the Great Plains of America. Fraser might have used the profile of a bison in the Central Park Zoo of New York for the design of the coin. The buffalo was known as Black Diamond.
On the new Gold Buffalo, the words “five cents” was altered by “$50 1 OZ .9999 FINE GOLD”. Beneath the Buffalo’s head one can read the inscription “IN GOD WE TRUST”
The purpose of Gold Buffalo Coins
Experts say that the Gold Buffalo was designed to compete with the bullion coins of the international market. Collectors tend to look over the gold coins of the US since they prefer 99.99% purity of gold. Oftentimes, collectors purchase the gold coins of Canada and of the other countries.
The federal government knows about the coming increase in gold sales and capitalizes on the purity of the gold content in these coins. As a matter of fact, 24K gold sales have controlled sixty per cent of the market, the American Buffalo Coin is set to charge and take over a big chunk of this market.
This was made possible by the Presidential $1 Coin Act of 2005 which mandated the making of the American Buffalo Gold Coin. The face value of this coin is $50 which was available as proof coin or non-circulated coin.
The Value Beyond Being 24K Gold
The predecessor of the Gold Buffalo is a piece of monetary history. The first line of American Buffalo coin was first produced by the United States Mint in 1913.
This 1913 American Buffalo gold coin was designed by James Earle Fraser. The obverse of the coin illustrates a Native American man whose features were based on three American Indians: John Big Tree, Iron Tail and Two Moons. These three men came from different American Indian Tribes.
Chief John Big Tree was a member of the Seneca Nation. His features from the top of the forehead and his upper lip might have been used to create the profile of the Indian head of the 1913 nickel. He might have also inspired the End of Trail which is a famous work of Fraser.
Iron Tail or Sinte Maza was from the hills of South Dakota. He belonged to the tribe known to be the first nations people. He fought along side Sitting Bull at the Battle of the Little Big Horn which was the most well known battle of the Indian Wars. During the battle, the Indians defeated the US 7th Cavalry of seven hundred men.
Two Moons is also another big name during the Battle of Little Big Horn. He was the chief of the Cheyenne Native American Tribe.
The reverse side of the coin is an American Buffalo which roamed the Great Plains of America. Fraser might have used the profile of a bison in the Central Park Zoo of New York for the design of the coin. The buffalo was known as Black Diamond.
On the new Gold Buffalo, the words “five cents” was altered by “$50 1 OZ .9999 FINE GOLD”. Beneath the Buffalo’s head one can read the inscription “IN GOD WE TRUST”
The purpose of Gold Buffalo Coins
Experts say that the Gold Buffalo was designed to compete with the bullion coins of the international market. Collectors tend to look over the gold coins of the US since they prefer 99.99% purity of gold. Oftentimes, collectors purchase the gold coins of Canada and of the other countries.
The federal government knows about the coming increase in gold sales and capitalizes on the purity of the gold content in these coins. As a matter of fact, 24K gold sales have controlled sixty per cent of the market, the American Buffalo Coin is set to charge and take over a big chunk of this market.