American Buffalo Gold Bullion Coins are the first .9999 fine 24-karat gold coins ever struck by the United States Mint. These $50 gold coins are available to members of the public seeking a simple and tangible means to own and invest in 24-karat gold in the form of legal tender coins whose content and purity is guaranteed by the United States Government. In 2006 and 2007 only one ounce coins with a $50 face value were minted. In 2008 the US Mint also produced 1/2 ounce ($25 face value), 1/4 ounce ($10 face value) and 1/10 ounce ($5 face value) pieces in proof and individually and in sets.
The American Buffalo Gold coin’s obverse and reverse designs feature images by noted American sculptor James Earle Fraser, once a student of Augustus Saint-Gaudens, for America’s five-cent coin.
That popular coin, known as the “Indian Head”, or “Buffalo Nickel” was introduced in 1913 and showcases the native beauty of the American West.
Production of American Buffalo 24-karat gold coins was authorized by Public Law 109-145, dated December 22, 2005, known as the Presidential $1 Coin Act.
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’.
Composition .9999 pure Gold.
1 troy oz coin
Diameter: 32.70 mm
Thickness: 2.95 mm
Gross weight: 1.0001 troy oz (31.108 g)
Face value: $50
