American Buffalo $50 (aka Gold Buffalo)
Bullion Coin
American Buffalo
In June of 2006 the United States Mint introduced this magnificent 24-karat gold bullion coin. This was the first time in United States Government history a pure (.9999) 24-karat gold coin for public purchase was minted.
The face value of the coins is $50 and the initial purchase price of the proof coin in 2006 was $800.00 based on the value of gold at the time of release.
This coin was the result of the Presidential $1 Coin Act of 2005 mandating this coin (a one-ounce 24-karat gold coin with a face value of $50 be minted) in addition to the requirement of a presidential dollar coin series to begin in 2007.
The design is a modification of James Earle Fraser’s original design for the 1913 issue Buffalo Nickel (Type 1) which bears on the reverse the famous Buffalo (also known as Bison)atop an earth mound. The Buffalo, is said to be named “Black Diamond” who took up residence at the New York City’s Central Park Zoo during the 1910s.
The reverse below the Buffalo and in the earth mound reads the denomination of the coin “$50” and below that the words “1 OZ. .9999 FINE GOLD”. The motto “IN GOD WE TRUST” appears on the left side just below the Buffalo’s head. The top of the reverse reads “UNITED STATES OF AMERICA” with the motto “E PLURIBUS UNUM” (Latin meaning “Out of Many, One”).
The obverse bears the highly distinguishable Native American profile. According to Fraser, the final design for the Native American profile was actually a blending of features taken from three true life Native American Indian men by the names of John Big Tree, Iron Tail and Two Moons (all hale from different tribes and/or nations).
On the obverse edge appears the word “LIBERTY” right of the profile and the date appears on the lower left and the neck of the profile.
The Fraser design is revered by many to be one of the best designs for Unites States coinage. The design or elements of the design was also used on a 2001 Smithsonian Commemorative Coin.
Copyright Sahara Coins LLC 2008
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