“American Buffalo” made of pure gold was first minted on June 22, 2006 by the United States Mint. This coin added to the American market a coin made of pure 999.9/1000 Au (24 carat) gold. Until then, only “American Eagle” coins with 916.16/1000 Au (22 carat) purity were in circulation.
The “American Buffalo” is unique thanks to its relatively high relief, making the contours of the motif very striking. The coin bears the face value, gold fineness (.9999 fine gold), country of issue (USA), and the mottos of the United States (“In God We Trust” and “E Pluribus Unum”). In the U.S., the “American Buffalo” is sometimes called the “Indian Head,” because the obverse depicts the head of a Native American surrounded by the word “LIBERTY” and the year of mintage. In the first two years (2006 and 2007), the coin was issued only in 1 oz. In 2008, three smaller weights (1/2 oz, 1/4 oz, and 1/10 oz) began to be minted, with the smallest issued only as a collector’s edition. All “American Buffalo” coins are produced at the West Point Mint in New York and are legal tender in the USA (Denominations: $50 / $25 / $10 / $5). In addition to the “regular” investment coin release, there is also a collector’s version struck in much smaller quantities and in so-called “Proof” quality. These coins are marked with the relief “W” mintmark for “West Point.”
Gold American Buffalo coins – are the first and only American 24-carat gold investment coins. They represent timeless elegance of numismatic design and uncompromising production quality. The result is a beautiful coin with 99.99% Au purity.
Gold investment coins American Buffalo are legal tender in the USA, with purity, precious metal content, and weight guaranteed by the U.S. government. As with all investment coins, their face value is largely symbolic; the real market value is determined by the fine gold content and far exceeds the nominal value. Therefore, the actual use of investment coins in everyday payments is more theoretical.
The modern American Buffalo gold coin has been struck since 2006 with unchanged motifs.
With the same name “American Buffalo,” there also exists in the U.S. a 1 oz silver coin (999) with a rectangular shape.
Coin Design
Obverse: Native American, text “LIBERTY 2006,” designer’s mark “F”
Reverse: American Buffalo, text “UNITED STATES OF AMERICA E PLURIBUS UNUM IN GOD WE TRUST 1 OZ. 9999 FINE GOLD - $50”
Designer: James Earle Fraser
The appearance of the coin is based on the famous 1913 5-cent coin by designer James Earle Fraser.
The obverse depicts the portrait of a Native American. Today, the identity cannot be determined, but it is most likely one of the following three chiefs: Iron Tail (Lakota Sioux), Two Moons (Cheyenne), or John Big Tree (Seneca). The text includes the year and the word “LIBERTY,” along with the West Point “W” mintmark and the designer’s “F.”
The reverse side shows the North American bison standing on a mound. It is most likely “Black Diamond,” a popular attraction from the Central Park Zoo in New York. Above it in a semicircle is the inscription “UNITED STATES OF AMERICA,” below the American motto “E PLURIBUS UNUM” (“Out of many, one”). On the left lower part is the motto “IN GOD WE TRUST,” followed by the denomination $50, weight 1 oz, and the fineness 9999 FINE GOLD.
The edge of the coin is reeded.
Production of the American Buffalo
The United States Mint is the only institution authorized to strike U.S. dollars. In addition to producing U.S. circulating currency (with an annual capacity of 20 billion coins), it is responsible for the production and sale of investment, collector, and commemorative coins and medals.
Other activities of the Mint include:
distribution of dollar coins to Federal Reserve Banks
management and safeguarding of U.S. national gold and silver reserves (approx. value $100 billion USD)
oversight of production at individual Mint branches as well as the “vault” at Fort Knox, Kentucky
For the protection and security of all Mint operations, a dedicated police force was established, which is also the oldest federal law enforcement agency in the United States.
The Mint was founded in 1792 in Philadelphia, Pennsylvania. Its headquarters are located in Washington, D.C. In addition to Philadelphia, it has branches in the following cities: Denver (Colorado, since 1863), San Francisco (California, since 1854), and West Point (New York, since 1937). The West Point Mint strikes the American Eagle investment coins (gold, silver, platinum) and the American Buffalo (gold only). Today, the American Buffalo and American Eagle gold coins are the only U.S. investment gold coins authorized by law, and the gold used for their production comes exclusively from mining in the United States.