The American Gold Eagle isn’t the only gold bullion coin produced by the US Mint. The Gold Buffalo bullion coin, first minted in 2006, is the first 24 karat gold bullion coin issued by the Mint and has quickly become a popular coin both for investors and collectors.
Hearkening back to the Golden Age of American coin design, the Gold Buffalo coin’s design is adapted from the famous Indian Head nickel, also known as the Buffalo nickel, that was minted from 1913 to 1938. It remains perhaps the most iconic circulating coin design in United States history and certainly one of the most popular.
The obverse of the coin features James Earle Fraser’s Indian head design, created as a composite from numerous profiles of Native Americans. The reverse features the image of an American bison, capturing the essence of the American West and the spirit of exploration and adventure that built the United States.
The Gold Buffalo is offered as a one ounce coin, containing 99.99% pure gold, and has a legal tender face value of $50, although its metal value is far greater. Only a few million of these coins have been produced by the Mint, as investors generally favor more conventional coinage with a longer track record. As the Gold Buffalo continues its production run it should continue to gain in popularity, although it may never surpass the Gold Eagle.
The Gold Buffalo can normally be found at around the same price as the American Gold Eagle, at roughly a 5% premium to the spot price of gold. And, like the Gold Eagle, the Gold Buffalo is also eligible for investment as part of a gold or precious metals IRA. That allows the investor to use pre-tax dollars or roll over existing retirement assets in order to invest in gold coins.
Coin Specifications
- Weight: 1.0001 troy oz (31.108 g)
- Purity: 0.9999
- Gold Content: 1 troy oz
- Diameter: 32.70 mm
- Thickness: 2.95 mm
This article was originally posted on Red Tea News.
