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The United States Mint is now producing the 2006
American Buffalo Gold Coin, signifying the first time ever the government has
struck pure (.9999) 24k gold coins. The coin is available in both bullion and proof format,
and began selling on June 22.
The
American Buffalo Gold coin carries a $50 face value and contains one ounce of
24-karat gold. Bullion and proof specimens are being coined at the
West Point Mint,
but the proof issue alone bears the
distinctive "W" mintmark.
The coin design strongly resembles the popular
Buffalo nickel of James Earle Fraser, minted from 1913 to 1938. Fraser's
classic design features a Native American on the obverse side (heads) and an American
buffalo, or bison, standing atop a grassy mound, on the reverse (tails).
In addition to the mintmark and date, inscriptions on the new Buffalo Gold coin obverse include "Liberty" and the
letter "F", for Fraser. Traditional coinage inscriptions grace
the reverse: "United States of
America," "In God We Trust," and "E Pluribus Unum". Incused on the
mound are the coin's specifications, "$50" and "1 oz. .9999 Fine Gold".
Collectors wishing to buy a
Buffalo Gold coin may find a few available on
eBay. Federal law caps proof
mintage at 300,000 coins, but the bullion-based format are being produced under
no such restriction and should be easier to
locate.
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