These Gold American Buffalo coins are investment-grade coins, with their weight, content, and purity guaranteed by the US government. They are the first and only coins the US Mint has produced in .9999 pure gold. This was done to compete with foreign 24 karat gold bullion coins, since investors often prefer .9999 pure gold coins. As expected, sales of the Gold Buffalo bullion coins decreased significantly in this second year, falling from 337,012 in 2006 to 136,503 in 2007. They are offered in both Bullion and Proof versions, both being struck at the West Point Mint. Silver.com currently has the 2007 1 oz Gold American Buffalo coin available for purchase.
- Received in a protective plastic flip!
- 2nd year of the Gold American Buffalo coin series!
- Contains One Troy ounce of .9999 pure gold.
- Bears a face value of $50 (USD), guaranteed by the government of the US.
- Total of 136,503 coins were minted in 2007.
- The obverse features a Native American.
- The reverse features an American Buffalo.
The Gold American Buffalo obverse features the profile of a Native American Chief. This profile is actually believed to be a composite of 3 Chiefs: Chief Iron Tail of the Oglala Lakota, Chief John Big Tree of the Kiowa, and Chief Two Moons of the Cheyenne. The creator of this design is James Earle Fraser, who originally created it for the Indian Head or Buffalo Nickel, which was in circulation between 1913 and 1938. This specific image is what collectors know as Fraser’s 1913, Type I design. It is thought to be among the best designs of any US coins.
The Gold American Buffalo reverse features the profile of an American Buffalo. Black Diamond, of the Central Park Zoo, and known to be the largest American buffalo in captivity, is considered to be the inspiration for this buffalo profile. This design was also created for the Buffalo Nickel by James Earle Fraser. Since Fraser’s Buffalo Nickel obverse and reverse designs are so revered, they were chosen to be the obverse and reverse designs of the Gold American Buffalo coin series.
The .9999 pure gold Gold Buffalo Coin series represents the first and only 24 karat gold coin offering of the US government. Canada and China, among others, had 24 karat gold coin offerings, and the US government felt the US Mint needed one to keep pace with these other countries. The Presidential $1 Coin Act of 2005 authorized the production of the Gold Buffalos and requires that the gold in the coins comes from newly mined domestic sources. The Gold Buffalos are struck at the West Point Mint, but the bullion coins do not contain a mint mark.
Gold began 2007 priced at $639.75 per ounce. By late May 2007, when the Gold Buffalo Proof coins were first offered, the price of gold had risen to $661.30 per ounce. Continuing its rise through the rest of the year, the price of gold finished the year at $833.75 per ounce. This was an increase of more than 31% over 2006, for which you would have to go back to 1979 to see a larger annual increase.
Have questions? If so, please contact our Silver.com Customer Service team – we will gladly assist you. We can be reached via phone at 888-989-7223, via our online live chat, or via our email.