The American Gold Buffalo coin made by the United States Mint is a beautiful gold coin and is a favorite among coin collectors as well as those who collect precious metal. This 24 karat gold bullion became available June 2006, and the coins were only available in the one ounce size. In 2006 the US Mint release 300,000 and limited the number of coins purchased per household to 10. The face value of the one ounce coin is $50.
The design on this coin is nostalgic in that it uses the images designed by James Earle Fraser for the old “buffalo” nickel. The obverse side has a profile of a Native American Indian and an American Bison (buffalo) on the reverse side.
The initial 2006 proof coins have a “W” stamped on the obverse side beside the neck of the Native American Indian, which indicates that it was minted at the West Point Mint in New York.
Many people who collect coins like to collect a particular coin by each year they are produced. For the American Buffalo Gold coin, collectors have a choice of the following years: 2006, 2007 and 2008. For 2006 and 2007 coins, only the one ounce size is available. In 2008, the United States Mint made other sizes available including: 1/10 ounce – $5; 1/4 ounce – $10; 1/2 ounce – $25.
Although the face value of the coin is $50, the true value is more in the precious metal of gold. For example, the first 2006 proof Gold Buffalo coin cost $800, and the 2007 proof Gold Buffalo coin cost $899.95, which is an increase of 11%.
The American Gold Buffalo coins do have a few special productions. For example there is the 08-08-08 Double Prosperity coin set that includes a 1/2 ounce 24 karat gold buffalo coin as well as a 1/2 ounce 22 karat gold eagle coin. The date is commemorated because it is considered lucky and only happens once every 100 years.
Another exciting way to collect these coins is to buy the “first strike” or “first issue.” Many of the fractional sizes produced in 2008 are now sold out at the United States Mint and have become more valuable / collectible.
The American Gold Buffalo Coin is a wonderful coin to collect and you can depend on its purity of .9995 of 24 karat gold, since its purity is guaranteed by the United State Government.
Elizabeth Jonas writes articles and creates websites on many topics. If you are interested in learning more about the American Buffalo Gold Coins and where to find them at low prices, you may wish to visit her latest website at: http://americanbuffalosgold.com
By Elizabeth Jonas, Copyright 2009
Article Source: http://EzineArticles.com/?expert=Elizabeth_Jonas
http://EzineArticles.com/?American-Gold-Buffalo-Coin-Collecting&id=2996427
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