#1 Gold Buffalo Bullion Buyer Las Vegas & Henderson
Gold American Buffalo or gold buffalo is a 24-karat gold bullion coin that was first minted in 2006. The coin is minted from a pure (.9999) 24-karat gold and was the first time the United States Government minted such coins for public consumption.
The American Buffalo was initially made available to the public through the Presidential $1 Coin Act of 2005 or the Public Law 109-145. The law has also set guidelines for the coin’s gold sourcing, design, legal tender status, price, and more. The coin’s face value is $50 and can be used as a legal tender to purchase goods and services. However, the coin is usually used for investing and collecting.
According to the Presidential $1 Coin Act concerning the American Buffalo coins:
- The Secretary of Treasury shall mint and issue $50 gold bullion and proof coins.
- The designs by James Earle Fraser shall be used on both the front side and backside of the coin.
- Mandates that the gold used on the coins shall be mined from natural deposits in the US or any US territory. It shall be used within one year after the month in which the gold was mined.
- The Secretary is forbidden from paying more than the average global price for gold.
- Classify coins as legal tender.
- Identify coins as “numismatic items.”
The Gold American Buffalo coins were designed by the American sculptor James Earle Fraser. It is said to be an adjusted version of the Indian Nickel Head issued in early 1913.
The front side or head of the coin depicts a right-facing Native American and also features the word “LIBERTY” on the upper right and the year when the coin was minted on the lower left. The portrait was done to honor the country’s first inhabitants. The picture is also said to be a combination of a few Native American men, including Chief Iron Tail of the Lakota Sioux and Chief Two Moons of the Cheyenne.
The rear side or tail of the coin features a buffalo standing on a rock. The buffalo is said to be the recollection of the Nation’s pioneering spirit towards westward expansion. The backside also has the words “the United States of America, In God We Trust, E Pluribus Unum, 1 oz. .9999 Fine Gold, and $50.”