American Buffalo

The American Buffalo Gold Bullion coin is a 24-karat coin first offered for sale by the United States Mint on June 22, 2006. The coin follows the design of the Indian Head nickel and has gained its nickname from the American Bison on the back of the design. This was the first time ever that the United States Government has minted pure 24-karat gold coins for the public. The coin has a face value of $50, although the initial 2006 price of the proof coin was $800. The price of the 2007 proof coin was $899.95 and the price of the 2009 proof coin was $1,410.00.

The design of the American Buffalo gold bullion coin is a modified version of James Earle Fraser's design for the Indian Head nickel issued in early 1913.Â After some revisions were made, the Type 2 variation continued to be minted for the rest of 1913 and every year until 1938.Â Fraser's Indian Head nickel design is viewed as one of the best designs of any U.S. coin. The same design was also used on the 2001 Smithsonian commemorative coin.

The front of the coin shows a Native American, who Fraser said he created from features of three chiefs from different American Indian tribes, who posed as models for him to sketch.Â Above a mound of dirt on the back of the coin stands an American Bison, which are commonly referred to as buffalo.Â The animal depicted on the back is believed to be the bison named Black Diamond, who lived in the New York City Central Park Zoo during the 1910s.

There have been numerous changes made to this coin over the years, however, it still remains a popular coin for people to collect.Â Currently, all U.S. bullion coins, including the American Buffalo gold bullion, are being struck at the West Point Mint in New York.

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