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American Gold Buffalo History

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The History of the American Gold Buffalo

The American Gold Buffalo was first minted in 2006 after the passage of the Presidential Dollar Coin Act. The Act, passed in 2005, required the U.S. Mint to produce a one ounce gold coin. Specifically, the coin had to carry a $50 denomination and be struck in 24 karat, .9999 pure gold. The main purpose of the American Gold Buffalo was to compete with other world mints that had already produced a 99.99% pure gold coin. Prior to the American Gold Buffalo, the U.S. Mint had only produced the American Gold Eagle which was only 91.67% pure gold, which is 22k. However, the 1 oz American Gold Eagle still contains a whole ounce of gold. Global mints such as the Canadian Mint were stealing thunder from the U.S. Mint until the production of the American Gold Buffalo came into being, and gold bullion investors and coin collectors would often lean toward the Canadian Gold Maple Leaf which is .9999 pure gold.

Design

The design of the American Gold Buffalo was taken from the original Buffalo Nickel that was made in 1913. The original Buffalo Nickel was designed by James Earl Fraser and featured a Native American on the obverse of the coin and a bison on the reverse of the coin. The bison on the reverse of the coin was rumored to be “Black Diamond,” who was a popular buffalo in the New York Central Park Zoo. The modern day American Gold Buffalo is a larger replica of the original Buffalo Nickel design.

Types of Gold Buffaloes

The U.S. Mint, specifically the West Point Mint has made Gold Buffaloes every year since 2006. Each year, a mint state version and a proof version of the Gold Buffalo has been made. Typically all Gold Buffaloes are 1oz coins, however in 2008 the West Point Mint changed things up and issued a Burnished Gold Buffalo Set and a Proof Gold Buffalo Set. This was the only time the U.S. Mint has done this to date. The 2008 Gold Buffalo Sets consisted of a tenth, quarter, half, and full ounce Gold Buffalo. 2008 marked the only year the Mint has done fractional Gold Buffaloes as well as a Burnished Gold Buffalo.

American Gold Buffalo Specifications

● .9999 pure gold

● Struck at the West Point Mint

● 1 oz weight

● 32.7mm diameter (1oz), 27mm (1/2oz), 22mm (1/4oz), 16.5 (1/10oz)

The History of Rare Coin Grading

ANACS- The First Grading ServiceYears ago coins were bought uncertified, or as many call it “raw.” This was standard practice for collectors until the first grading service, ANACS, was founded in 1972. ANACS, or American Numismatic Association Certification Service, was the first grading service in the United States to certify rare coins. The grading service ANACS [...]

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What Mints Produce American Silver Eagles?

American Silver Eagles have been one of the world’s most popular silver bullion coins for the last three and a half decades. Over its 35 year span, the American Silver Eagle has been minted at the Philadelphia, West Point and San Francisco Mints.Proof Silver EaglesProof Silver Eagles are one of the most beautiful of all Silver [...]

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Kennedy Half Dollars for the Beginner

The Kennedy Half Dollar first made its debut in 1964 to commemorate President John F. Kennedy Jr. after his assassination. The 1964 Kennedy Half Dollar was met with tremendous success as many Americans wanted to save the coin as a memento. As a result, the Kennedy Half Dollar became one of the most successful half [...]

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Will the U.S. Mint Stop Making Burnished Silver Eagles in 2021?

History of the Burnished Silver EagleThe Burnished Silver Eagle is the infant in the Silver Eagle Series. Each year since 1986, the U.S. Mint has made a Mint State and Proof Silver Eagle, besides 2009 when no proof coins were issued due to a shortage of silver bullion. However, it wasn’t until 2006 that the U.S. Mint [...]

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How Do I Know What My Rare Coin Collection is Worth?

Many people inherit rare coin collections or have been collecting for years and do not know how to properly determine the value of their collections. This could often lead someone to sell rare coins too cheap. Below, you will find some of the best practices that astute coin collectors follow to determine the value of [...]

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How to Protect My Rare Coin Collection

Your rare coin collection is something you should be proud of. It is likely part of your "nest egg." You have spent some of your hard-earned money to build a unique and impressive coin collection, so it is important that you keep it safe. Coin collectors spend years or even decades putting together collections that often [...]

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Are Pre-1933 Gold Coins a Buy Right Now?

Pre-1933 Gold coins are way too cheap; at least that is our opinion. Years ago, premiums over spot gold were significantly higher than they are today. Premiums over spot for common date $20 Saint Gaudens, Gold Liberties, and Gold Indians were sometimes north of 20-30%. Now, these some of these gold coins can be found [...]

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Hoard of American Silver Eagles Discovered at the U.S. Mint

2016 already stands out as a unique year, as it was the only time that a Silver Eagles ever had a "lettered edge" as opposed to its traditional reeded edge. This unique feature was met with much success as collectors were quite pleased to see "30th Anniversary" inscribed on the edge of the silver coin. In [...]

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Is the U.S. Mint Setting Coin Collectors Up for a Silver Eagle Rarity?

For the last three years, the United States Mint has decided to do something strange. They decided to release the Proof Silver Eagle and the Bullion Strike Silver Eagles almost simultaneously. In 2018, the release date was January 4th, January 10th in 2019, and January 9th in 2020. Each year the United States Mint begins shipping [...]

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