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Buffalo Gold Coins
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Buffalo Gold Coins
Buffalo gold coins are 24 carat gold coins sold by the USA government. It has a legal tender value. The proof coin was sold at $899.95 in 2007. For modifying the cent and adding the presidential dollar coin series the Act of Presidential $1 coin mandated for a 24 carat gold coin of one ounce with a value of $50 with a mintage limit of 300,000 coins.
Differences that can be noted between the nickel and the fifty dollar piece are, on the gold American Buffalo coin the mound area of the reverse of the Indian Head nickel bearing the words, FIVE CENTS, has been changed to read $50 1 OZ. .9999 FINE GOLD. Also, the motto, IN GOD WE TRUST, has been appearing on all U.S. gold coins since 1908, can be seen on the reverse of the newer coin to the left of, and beneath, the buffalo’s head.
The Mint has included Buffalo gold coins in different fractional sizes and the double prosperity set 8-8-08 that contains a one half ounce buffalo gold coin special package. At present all USA bullion coins are struck at the New York’s West Point Mint. US Mint website says that the proof version of the gold buffalo coin only will bear the “W” the US mint mark on the front of the gold coin, behind the Indian Head. The “W” mark does not appear on the bullion version. Only the 2006 and 2007 gold coins have issued on a 1ounce version and in 2008 $25, $ 10 and $ 5 value coins were issued on ½, ¼ and 1/10 oz gold respectively.
The uncirculated version of the buffalo gold coins was made available after a long wait to the dealers in 2006. An opportunity has been given to the collectors to place an order with the mint for the proof version one month after the release of the coin. (BA6) was the catalog number of the proof coin at the mint. Investors often prefer 99.999% pure gold as American Gold Eagle is made with 91.67% pure gold. Investors were choosing foreign coins like Gold Maple Leaf of Canada for their bullion needs. The Buffalo gold coins were produced to compete with the foreign gold coins.
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