The American Buffalo, also known as a Gold Buffalo, is a 24-karat gold bullion coin first offered for sale by the United States Mint on June 22, 2006, and available for shipment beginning on July 13. This was the first time ever that the United States Government has minted pure (.9999) 24-karat gold coins for the public. The coin has a legal tender (face) value of US$50. The initial 2006 price of the proof coin was $800. The price of the 2007 proof coin was $899.95.
In addition to requiring a presidential dollar coin series to begin in 2007 and redesigning the cent in 2009, the Presidential $1 Coin Act of 2005 mandated the production of a one-ounce 24-karat gold bullion coin with a face value of $50, and a mintage limit of up to 300,000 coins.
Design
The design of the American Buffalo gold bullion coin is a modified version of James Earle Fraser's design of the Buffalo nickel (Type 1), issued in early 1913. After the mound was removed, the Type 2 variation continued to be minted for the rest of 1913 and every year until 1938 (except 1922, 1932, and 1933, when no nickels were struck).
The obverse depicts a Native American man, who Fraser said he based on a mixture of features from three American Indian men (John Big Tree, Iron Tail and Two Moons) from three different tribes that posed for him to be sketched. On the reverse stands an American bison on a mound of dirt, commonly referred to as a buffalo. The animal on the reverse is believed by most to be a bison named "Black Diamond" that lived in New York City's Central Park Zoo during the 1910s.
It is said that Fraser had to have someone distract the buffalo while he sneaked up beside it to draw it. Otherwise, the buffalo would stare at him and Fraser wouldn't get the profile he wanted.[citation needed] Fraser's nickel design is generally considered to be amongst the best designs of any U.S. coin. It was also used on the 2001 Smithsonian commemorative coin.
On the American Buffalo coin, the mound area of the reverse with the words "FIVE CENTS" has been changed to read "$50 1 OZ. .9999 FINE GOLD". Also, the motto "IN GOD WE TRUST", appearing on all U.S. gold coins since 1908, can be seen on the reverse to the left of and beneath the buffalo's head.
Fractional sizes
The U.S. Mint has indicated an expansion of the program, to include Buffalo gold coins in fractional sizes. The specially-packaged 8-8-08 Double Prosperity set contains a one-half ounce gold Buffalo coin.
Distribution
All U.S. bullion coins, including the American Buffalo gold piece, are currently being struck at the West Point Mint in New York. According to the U.S. Mint website, only the proof version of the Buffalo gold coin bears the mint mark "W" on the obverse; the bullion version does not have the "W" mark. The 2006 and 2007 coins have only been issued in a one ounce version, but in 2008, $5, $10, and $25 face value coins were minted with 1/10 oz, 1/4 oz, and 1/2 oz of gold respectively.
After a long wait by both collectors and investors, the uncirculated version of the American Buffalo gold piece was made available to coin dealers on June 20, 2006. Collectors who wanted to purchase the proof version from the mint were given the opportunity to place their orders with the Mint beginning on July 22. The 2006 proof quality coin has a strict mintage limit of 300,000, with an additional enforced limit of only ten (10) coins per household. The catalog number of the 2006 proof coin at the US Mint is (BA6).
The coin was created in order to compete with foreign 24-karat gold bullion coins. Since investors usually prefer 99.99% pure gold over the 91.67% gold used in the American Gold Eagle, many were choosing non-US coins, such as the Canadian Gold Maple Leaf, to meet their bullion needs. With the American Buffalo coin, the U.S. government hopes to increase the amount of U.S. gold sales and cash in on the 24-karat sales, which makes up about 60% of the world gold market.
Also on July 22, the Mint transferred two of the American Buffalo coins to the Smithsonian Institution's coin collection because of their historic value.
On September 26, 2008 the U.S. Mint announced it is temporarily halting sales of the American Buffalo coins because it can't keep up with soaring demand as investors seek the safety of gold amid the current economic turbulence.
From Wikipedia, the free encyclopedia
Gold, Silver and Platinum Bullion Can Be a Great Investment
Monday, November 3, 2008
A United States Coin, prior to being minted, may go through several stages where a proof coin is minted. This process is in preparation for the minting of the final coin. While these rare US coins primary purpose is for checking dies and archiving, nowadays they are struck in greater quantities for coin collectors (numismatists) and can even be found as a Proof Coin Set. The Gold Dollar Proof is a very popular form proof coin and of gold bullion at the moment. What exactly is gold bullion? The term refers to coins or ingots, also know as bars, that get their value primarily from the weight of the precious metal from which they are made. Potential bullion investors will be able to find bullion available in a variety of precious metals including Gold, Silver and Platinum. Gold proof coins while valuable based on the weight of the gold, have other factors such as age, beauty and denomination, that will enhance their value, especially for collectors. A gold ingot, on the other hand, would be valued primary based on the gold bar weight.
The most popular forms of bullion are bullion coins and ingots. Unlike the United States Coin, a silver ingot is shaped into a bar. The cost of an ounce of silver shaped into a silver ingot will be approximately the same as the cost of an ounce of silver shaped into a coin unless the coin happens to be one of those that are prized by numismatists like the American Buffalo coin or the American Eagle coin. In the case of especially rare US coins, the coin will often be worth many times an equivalent weight available as a silver ingot.
In addition, certain highly sought after coins, those especially rare US coins, like a 1776 continental silver dollar or a 1789 Brasher gold doubloon, can far exceed both their denomination value and their gold bar weight value as well. The bullion price of another highly prized United States coin is the Gold American Buffalo coin. The American Buffalo coin and the American Eagle coin are favorites among coin collectors. The value of the rare old American Buffalo or American Eagle coins is far higher than their modern equivalents since they are no longer minted in such limited quantities. As there is greater availability, the bullion price may be significantly less.
Coin collectors seek out old, rare US coins and value them not soley on the weight of the coin but on the rarity, age and quality of the coin. Some coins can have values many times their gold bar weight value because of their rarity, age and condition. Gold and silver bullion sales have increased in recent years due to a sagging economy, rising oil prices and the volatility of the stock market. Investors have turned to the bullion gold bar and collectible gold coin order to add diversity to their investment portfolios. While the stock market has plummeted recently, bullion price remains strong, making the bullion gold bar a safer investment in the opinion of many investors.
Many experts believe that gold will reach $1000 per ounce by 2009 so there has never been a better time to invest in gold bullion. As our economic conditions continue to deteriorate, many turn to gold and silver bullion as an excellent way to weather the storm.
If you would like to buy your bullion direct in order to advantage of current gold prices, why not take a visit to Gold and Silver Bullion Bargains. And don't forget, we have Platinum bullion too!
By Joe A Rodriguez
Article Source: http://EzineArticles.com/?expert=Joe_A_Rodriguez
The most popular forms of bullion are bullion coins and ingots. Unlike the United States Coin, a silver ingot is shaped into a bar. The cost of an ounce of silver shaped into a silver ingot will be approximately the same as the cost of an ounce of silver shaped into a coin unless the coin happens to be one of those that are prized by numismatists like the American Buffalo coin or the American Eagle coin. In the case of especially rare US coins, the coin will often be worth many times an equivalent weight available as a silver ingot.
In addition, certain highly sought after coins, those especially rare US coins, like a 1776 continental silver dollar or a 1789 Brasher gold doubloon, can far exceed both their denomination value and their gold bar weight value as well. The bullion price of another highly prized United States coin is the Gold American Buffalo coin. The American Buffalo coin and the American Eagle coin are favorites among coin collectors. The value of the rare old American Buffalo or American Eagle coins is far higher than their modern equivalents since they are no longer minted in such limited quantities. As there is greater availability, the bullion price may be significantly less.
Coin collectors seek out old, rare US coins and value them not soley on the weight of the coin but on the rarity, age and quality of the coin. Some coins can have values many times their gold bar weight value because of their rarity, age and condition. Gold and silver bullion sales have increased in recent years due to a sagging economy, rising oil prices and the volatility of the stock market. Investors have turned to the bullion gold bar and collectible gold coin order to add diversity to their investment portfolios. While the stock market has plummeted recently, bullion price remains strong, making the bullion gold bar a safer investment in the opinion of many investors.
Many experts believe that gold will reach $1000 per ounce by 2009 so there has never been a better time to invest in gold bullion. As our economic conditions continue to deteriorate, many turn to gold and silver bullion as an excellent way to weather the storm.
If you would like to buy your bullion direct in order to advantage of current gold prices, why not take a visit to Gold and Silver Bullion Bargains. And don't forget, we have Platinum bullion too!
By Joe A Rodriguez
Article Source: http://EzineArticles.com/?expert=Joe_A_Rodriguez
How American Buffalo Gold Coins Are Distributed in the Gold Market
Sunday, October 12, 2008
Gold coins have been a prime form of investment ever since they were first introduced in the trade market. Unlike most forms of investments such as company stocks, business ventures, currencies, gold coins were considered to be more secure investments which had more stable values.
To answer the need for such form of investments, the United States Mint introduced the American Eagle coins in 1986. Such coins had 91.67% gold purity and were considered to be among the most traded coins around the globe ever since. However, as more and more people have developed a certain interest to invest in gold coins, various countries have created more gold concentrated coins. As such, many investors were then opting for the Canadian Gold Maple Leaf and other foreign gold bullion coins which offer 24-karat.
The Gold Coin Distribution
To cater to the demands of the 24-karat gold bullion coins, the United States Mint released its first line of .9999 fine 24-karat gold coins in 1996. Such were introduced in the market following the Presidential $1 Coin Act a.k.a. Public Law 109-145 that was issued on December 22, 2005.
The awaited release of the American Buffalo coins transpired on June 20, 2006, after the coins were circulated among notable coin and precious metal dealers, and banks nationwide. As for the prime coin collectors who are opting for the American Buffalo Gold proof coin, they were allowed to purchase the coin on June 22. However, foreign investors who ordered via shipment were allowed to purchase the coin only on July 13 of that same year.
Basically, the American Buffalo coins are currently being struck at the West Point Mint, New York. Such coins came out in a $50 denomination with a corresponding weight of 1.0001 troy oz.
Relatively competitive with the other 24-karat foreign coins, the initial price of the Buffalo gold coin was $800 in 2006. In 2007, the value increased by as much as a hundred and the proof coin was then priced at $899.95. This year, the gold coin is approximated to be worth $950. In addition to that, the Buffalo coins will also be offered in $5, $10, and $25 face value coins. Each of which will be minted with 1/10 oz, 1/4 oz, and 1/2 oz of gold respectively.
Based on the website of the United States Mint, the mint mark "W" appears on the obverse side of American Buffalo Gold coins in proof versions. With this new line of 24-karat gold coins, the U.S. government hopes to increase U.S. gold trade and sales by as much as thirty percent over its original 60% share in the world gold market.
Find out more about bullion coins at BullionCoinsCollector.com and learn more about Buffalo Gold Coins.
Gold, coin, American, market, bullion, investment, American Buffalo Gold coin, Gold Market, Azman Abdul Aziz
By Azman Abdul Aziz
Article Source: EzineArticles
To answer the need for such form of investments, the United States Mint introduced the American Eagle coins in 1986. Such coins had 91.67% gold purity and were considered to be among the most traded coins around the globe ever since. However, as more and more people have developed a certain interest to invest in gold coins, various countries have created more gold concentrated coins. As such, many investors were then opting for the Canadian Gold Maple Leaf and other foreign gold bullion coins which offer 24-karat.
The Gold Coin Distribution
To cater to the demands of the 24-karat gold bullion coins, the United States Mint released its first line of .9999 fine 24-karat gold coins in 1996. Such were introduced in the market following the Presidential $1 Coin Act a.k.a. Public Law 109-145 that was issued on December 22, 2005.
The awaited release of the American Buffalo coins transpired on June 20, 2006, after the coins were circulated among notable coin and precious metal dealers, and banks nationwide. As for the prime coin collectors who are opting for the American Buffalo Gold proof coin, they were allowed to purchase the coin on June 22. However, foreign investors who ordered via shipment were allowed to purchase the coin only on July 13 of that same year.
Basically, the American Buffalo coins are currently being struck at the West Point Mint, New York. Such coins came out in a $50 denomination with a corresponding weight of 1.0001 troy oz.
Relatively competitive with the other 24-karat foreign coins, the initial price of the Buffalo gold coin was $800 in 2006. In 2007, the value increased by as much as a hundred and the proof coin was then priced at $899.95. This year, the gold coin is approximated to be worth $950. In addition to that, the Buffalo coins will also be offered in $5, $10, and $25 face value coins. Each of which will be minted with 1/10 oz, 1/4 oz, and 1/2 oz of gold respectively.
Based on the website of the United States Mint, the mint mark "W" appears on the obverse side of American Buffalo Gold coins in proof versions. With this new line of 24-karat gold coins, the U.S. government hopes to increase U.S. gold trade and sales by as much as thirty percent over its original 60% share in the world gold market.
Find out more about bullion coins at BullionCoinsCollector.com and learn more about Buffalo Gold Coins.
Gold, coin, American, market, bullion, investment, American Buffalo Gold coin, Gold Market, Azman Abdul Aziz
By Azman Abdul Aziz
Article Source: EzineArticles
The American Buffalo Gold Coin - A Mark of Monetary History
Wednesday, September 24, 2008
In 1913, the United States Mint offered two curve of the American Addle Coin. Fifty-three years later, in 2006 the Gold Addle was introduced. This absolute bread was the aboriginal .9999 accomplished 24-karat gold bread anytime addled by the United States Mint. The United States Government guarantees the agreeable and abstention of the Addle Coin's gold.
On the about-face ancillary of the American Addle Bread is a Native American delineation and the chat "Liberty." The Addle Bread absolutely featured three altered American Indians while in production. Two of the American Indians were absolute models for Fraser back he advised the coins. These Indians were Chief Iron Tail of the Lakota Sioux, and Chief Two Moons of the Cheyenne. The third Native American Indian on the American Addle Bread in gold is unknown.
Fraser was clumsy to anamnesis the name of the American Indian, and abounding affirmation to accept been in the archetypal for the third design. It is broadly believed that Black Diamond was the addle acclimated as a model. Black Diamond was a addle who was a accepted allure in the New York Zoological Gardens at the time.
If you are absorbed in accession coins, or in accepting your own American Addle Bread in gold, again appointment GainesvilleCoins.com. They affection anniversary year of The American Addle bread in gold so that those absorbed in this attenuate celebrated bread can see its absolution from year to year. The government issued these bill as $50 pieces, and they are awful adapted collector's items today.
On the about-face ancillary of the American Addle Bread is a Native American delineation and the chat "Liberty." The Addle Bread absolutely featured three altered American Indians while in production. Two of the American Indians were absolute models for Fraser back he advised the coins. These Indians were Chief Iron Tail of the Lakota Sioux, and Chief Two Moons of the Cheyenne. The third Native American Indian on the American Addle Bread in gold is unknown.
Fraser was clumsy to anamnesis the name of the American Indian, and abounding affirmation to accept been in the archetypal for the third design. It is broadly believed that Black Diamond was the addle acclimated as a model. Black Diamond was a addle who was a accepted allure in the New York Zoological Gardens at the time.
If you are absorbed in accession coins, or in accepting your own American Addle Bread in gold, again appointment GainesvilleCoins.com. They affection anniversary year of The American Addle bread in gold so that those absorbed in this attenuate celebrated bread can see its absolution from year to year. The government issued these bill as $50 pieces, and they are awful adapted collector's items today.
American Buffalo 24 Karat Gold Coin - A Gold Masterpiece
Sunday, September 21, 2008
The American Addle 24 Karat Gold Coin, added frequently referred to as the Gold Buffalo, was aboriginal minted on June 22, 2006, and was the aboriginal authentic 24 karat gold allotment that has anytime been accessible to the public. Its breakable amount is $50.00. The affidavit amount today is $950.00.
The bread was advised by James Earle Fraser, and is about a replica of the American Nickel, taken from his aboriginal architecture of the American Nickel in 1913.
On the face of the Gold Buffalo, is the aforementioned Indian amount that Fraser had advised for the nickel. The Indian was advised from three American Indians from three altered tribes.
The aback ancillary is the aforementioned addle continuing on a bank of dirt, which came from Fraser's aboriginal architecture of the nickel. The bison was advised from a absolute activity addle that resided in New York at the Central Park Zoo, and its name was Black Diamond.
The alone aberration amid the aback of the nickel and the aback of the Gold Addle is that on the aback of the Gold Addle you will see that the bank has returned, afterwards it was taken off of the nickel in 1913, you will additionally see $50 1oz. .9999 FINE GOLD, and additionally the words IN GOD WE TRUST that has appeared on every minted bread back 1908. Alone the affidavit bread has the excellent mark W on the advanced of the coin.
The conception of the bread was to attempt with the adopted 24 karat gold bill that were on the market. Back the American collectors could not get a absolutely 24 karat gold banknote from the United States, they were accession gold banknote bill from added countries.
On June 22, 2006, the West Point Excellent in New York beatific two American Addle 24 Karat Gold bill to the Smithsonian because of its actual value.
The bread was advised by James Earle Fraser, and is about a replica of the American Nickel, taken from his aboriginal architecture of the American Nickel in 1913.
On the face of the Gold Buffalo, is the aforementioned Indian amount that Fraser had advised for the nickel. The Indian was advised from three American Indians from three altered tribes.
The aback ancillary is the aforementioned addle continuing on a bank of dirt, which came from Fraser's aboriginal architecture of the nickel. The bison was advised from a absolute activity addle that resided in New York at the Central Park Zoo, and its name was Black Diamond.
The alone aberration amid the aback of the nickel and the aback of the Gold Addle is that on the aback of the Gold Addle you will see that the bank has returned, afterwards it was taken off of the nickel in 1913, you will additionally see $50 1oz. .9999 FINE GOLD, and additionally the words IN GOD WE TRUST that has appeared on every minted bread back 1908. Alone the affidavit bread has the excellent mark W on the advanced of the coin.
The conception of the bread was to attempt with the adopted 24 karat gold bill that were on the market. Back the American collectors could not get a absolutely 24 karat gold banknote from the United States, they were accession gold banknote bill from added countries.
On June 22, 2006, the West Point Excellent in New York beatific two American Addle 24 Karat Gold bill to the Smithsonian because of its actual value.
