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Coin collecting, coin commentary, coin images, and coin values for the passionate and the not-so-passionate coin collector
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What is in the name?
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(2006-Present) American Buffalo Gold Coin
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CoinTrapTM Commentary: Perhaps no other icon symbolizes the expanse of America like the buffalo emblazoned on the Gold Buffalo coin. Coexistent with the buffalo were the Native Americans. For centuries, perhaps millennia, the Native Americans and the buffalo roamed the landscape, side by side, in mutual cohabitation. It seems perfectly fitting that a gold coin now memorializes the importance, value, and contribution of these, the Native American and the American buffalo, not only in a historical context, but in a future sense--for the appreciation of many generations to come. Based on the original 1913 Buffalo nickel (type 1), designed by James Earle Fraser, the obverse of the Gold Buffalo coin features a profile of an Native American and the reverse features an American buffalo, also known as a bison.
With the the American Gold Buffalo coin, it is the first time that the United States Government produced a 99.99% 24 karat gold coin for the public. The 2006 and 2007 coins were minted in only the 1 troy ounce $50 face value version, but starting in 2008, the Gold Buffalo coins are minted in the one troy ounce $50 face value version, 1/2 troy ounce $25 face value version, 1/4 troy ounce $10 face value version, and 1/10 troy ounce $5 face value version. Of course, the market price of each of these coins far exceeds their respective face value. Consider augmenting your collection with one of these beauties!
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Coin Value: What is the value of your American Buffalo Gold coin? Like I always say, it all depends. The American Buffalo Gold coin worth or value depends on these main factors: (1) your coin’s grade, (2) whether it is a proof coin (Deep Cameo or DCAM) having a mirror-like polished finish, (3) whether it is a “first strike” coin, and (4) scarcity/demand. Regarding your coin’s grade, it has become a standard in the field of numismatics (coin collecting) to grade coins on a point-scale from 1 (poor) to 70 (perfect). This is also referred to as the “Mint State” or just “MS” for short. Click here to find the up-to-date estimated value of your American Gold Buffalo coin from the Professional Coin Grading Service (PCGS®), which takes the factors mentioned above into account*. If you do not know the grade of your American Buffalo Gold coin, you can take it to your local coin dealer and ask that they have it graded at one of the three major coin grading services.
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American Gold Buffalo Coin Mint Years: 2006, 2007, 2008, 2009
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Obverse - American Buffalo Gold Coin
Engraver: James Earle Fraser
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Reverse - American Buffalo Gold Coin
Engraver: James Earle Fraser
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United States Mint images. CoinTrap.com is not affiliated with the United States Government in any way. Click here for terms and conditions.
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PRESIDENTIAL $1 COIN ACT OF 2005
[[Page 119 STAT. 2664]]
Public Law 109-145
109th Congress
An Act
To require the Secretary of the Treasury to mint coins in commemoration
of each of the Nation's past Presidents and their spouses, respectively,
to improve circulation of the $1 coin, to create a new bullion coin, and
for other purposes. <<NOTE: Dec. 22, 2005 - [S. 1047]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: Presidential $1
Coin Act of 2005.>>
SECTION <<NOTE: 31 USC 5101 note.>> 1. SHORT TITLE.
This Act may be cited as the ``Presidential $1 Coin Act of 2005''.
. . .
TITLE II--BUFFALO GOLD BULLION COINS
SEC. 201. GOLD BULLION COINS.
Section 5112 of title 31, United States Code, is amended--
(1) in subsection (a), by adding at the end the following:
``(11) A $50 gold coin that is of an appropriate size and
thickness, as determined by the Secretary, weighs 1 ounce, and
contains 99.99 percent pure gold.''; and
(2) by adding at the end, the following:
``(q) Gold Bullion Coins.--
``(1) <<NOTE: Deadline.>> In general.--Not later than 6
months after the date of enactment of the Presidential $1 Coin
Act of 2005, the Secretary shall commence striking and issuing
for sale such number of $50 gold bullion and proof coins as the
Secretary may determine to be appropriate, in such quantities,
as the Secretary, in the Secretary's discretion, may prescribe.
``(2) Initial design.--
``(A) <<NOTE: James Earle Fraser.>> In general.--
Except as provided under subparagraph (B), the obverse
and reverse of the gold bullion coins struck under this
subsection during the first year of issuance shall bear
the original designs by James Earle Fraser, which appear
on the 5-cent coin commonly referred to as the `Buffalo
nickel' or the `1913 Type 1'.
``(B) Variations.--The coins referred to in
subparagraph (A) shall--
``(i) have inscriptions of the weight of the
coin and the nominal denomination of the coin
incused in that portion of the design on the
reverse of the coin commonly known as the `grassy
mound'; and
``(ii) bear such other inscriptions as the
Secretary determines to be appropriate.
``(3) Subsequent designs.--After the 1-year period described
to in paragraph (2), the Secretary may--
``(A) after consulting with the Commission of Fine
Arts, and subject to the review of the Citizens Coinage
Advisory Committee, change the design on the obverse or
reverse of gold bullion coins struck under this
subsection; and
``(B) change the maximum number of coins issued in
any year.
``(4) Source of gold bullion.--
``(A) In general.--The Secretary shall acquire gold
for the coins issued under this subsection by purchase
of gold mined from natural deposits in the United
States, or in a territory or possession of the United
States, within 1 year after the month in which the ore
from which it is derived was mined.
[[Page 119 STAT. 2673]]
``(B) Price of gold.--The Secretary shall pay not
more than the average world price for the gold mined
under subparagraph (A).
``(5) Sale of coins.--Each gold bullion coin issued under
this subsection shall be sold for an amount the Secretary
determines to be appropriate, but not less than the sum of--
``(A) the market value of the bullion at the time of
sale; and
``(B) the cost of designing and issuing the coins,
including labor, materials, dies, use of machinery,
overhead expenses, marketing, and shipping.
``(6) Legal tender.--The coins minted under this title shall
be legal tender, as provided in section 5103.
``(7) Treatment as numismatic items.--For purposes of
section 5134 and 5136, all coins minted under this subsection
shall be considered to be numismatic items.
``(8) Protective covering.--
``(A) In general.--Each bullion coin having a
metallic content as described in subsection (a)(11) and
a design specified in paragraph (2) shall be sold in an
inexpensive covering that will protect the coin from
damage due to ordinary handling or storage.
``(B) Design.--The protective covering required
under subparagraph (A) shall be readily distinguishable
from any coin packaging that may be used to protect
proof coins minted and issued under this subsection.''.
. . .
Approved December 22, 2005.
LEGISLATIVE HISTORY--S. 1047 (H.R. 902):
---------------------------------------------------------------------------
HOUSE REPORTS: No. 109-39 accompanying H.R. 902 (Comm. on Financial
Services).
CONGRESSIONAL RECORD, Vol. 151 (2005):
Nov. 18, considered and passed Senate.
Dec. 13, considered and passed House.
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* CoinTrapTM is not affiliated with the PCGS®. By clicking on the link above, you are opening a browser window containing content provided by a third party website and you will be subject to any terms and conditions as set forth on that website.
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Coin Collecting, Coin Commentary and Coin Values
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