Do you want to start or expand your coin collection? If so, then you should consider Buffalo Gold Coins. Here are some Frequently Asked Questions (FAQs) about the coin:
1. What is the coin?
Buffalo Gold Coins are also known as Gold Buffaloes. They’re 24-karat gold bullion coins that the United States began selling in 2006. The design of the coin is quite similar to the Indian Head nickel, which the United States produced from 1913-1938.
2. Why was the coin created?
The goal was to compete with foreign 24-karat gold bullion coins. Many investors were choosing foreign 99.99% pure gold coins, instead of the American Gold Eagle Coins (which were about 92% pure gold).
3. Who designed the coin?
The coin is actually a version of the Indian Head nickel that James Earle Fraser designed. Throughout his sculpting career, he received several public commissions. Fraser was born in Minnesota, but grew up in South Dakota. While living on the American Plains, he observed the hardships of the Native Americans living there. Fraser began sculpting at an early age, when he learned that he could shape clay from a local quarry, into various figures. While Fraser created many famous sculptures during his life, his most popular one was “The End of the Trail.” A San Francisco art exhibition featured it.
4. Why is the coin named after the buffalo?
Buffalo Gold Coins are named for the American Bison that’s featured on the tail of the coin. Technically, the American Bison is a distant relative of true Buffalos, which include the Asian Buffalo and African Buffalo. In fact, the American Bison is closer relative of the European Bison. Still, French fur trappers called the Bison that they trapped “boefus,” which refers to an ox. So linguistically speaking, the meaning of the terms “Bison” and “Buffalo” is similar.
5. Who is featured on the coin’s head?
On the head of the coin, one can see the picture of a Native American. According to Fraser, the original sculpture was a blend of three different American Indian chiefs from three different tribes. The names of the chiefs were Big Tree, Iron Tail, and Two Moons.
6. How much is the coin worth?
The “face value” of the coin is $50 USD. However, the initial price of the coin has increased substantially since the U.S. first produced it in 2006. While the initial price of the 2006 Buffalo Gold Coin was $800, the cost of the 2010 coin was over $1400. This is due to the value of gold when the coin is available on the market.
7. Are there replica coins?
Yes, and it’s important to note that such coins are not legal tender. That’s because the U.S. Government mint does not issue the coins. The copycat coins only contain a gold coat, and are sold for approximately $20. Thee replica coins also lack certain marks found on the genuine coins. That includes the words “$50” and “FINE GOLD.”
U.S. Buffalo Gold Coins are certainly a worthwhile investment for serious coin collectors. The coin’s top-notch materials and craftsmanship provides you with a golden opportunity.
