History of American Gold Buffalo Coin
Written by admin on February 20, 2009 – 9:34 pm -The history of American gold Buffalo coin went back to 1913, when the famous Buffalo Nickel was produced for the first time in history. Then Treasury Secretary Franklin MacVeagh hired Sculptor James Earle Fraser to design a new American Nickel. Produced in 1913 to 1938, Buffalo Nickel features an Indian chief on the obverse side, and a American Bison, not a Buffalo as commonly believed, standing on a mound of dirt on the other side. Soon after the Buffalo Nickel went into circulation, a problem occurred: the raised mound part wore away quickly. The design of later 1913 Buffalo Coins was modified to take off the raised mound part.
In 2005, Congress passed the Presidential $1Coin Act, which authorized the US Mint to issue a 1 oz 24-Karat gold Bullion coin. The legislation was quite specific, mandating the design of new .9999 fine gold coin: The coin "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'." In other words, the new coin should carry the famed 1913 Buffalo Nickels' design by Fraser.
As a result, the American gold Buffalo coin was released to the public in 2006. Unlike previous American gold coins, American gold Buffalo coin was the first 0.9999 fine gold coin released by the US Mint. The coin was an immediate success. The US Mint sold a total of 323,000 coins in only seven months. By comparison, only 201,500 1 oz Gold Eagles, the world's best selling gold bullion coins, were sold that year.
As the 2005 Presidential Coin Act mandated, the 2006 American gold Buffalo coin is almost a replica of the 1913 Buffalo Nickel.The face side of the Gold Buffalo coin features the American Indian chief and the word "Liberty." The back side design is the same American bison standing on the mound. You will also see $50 1oz. .9999 FINE GOLD, and IN GOD WE TRUST inscribed on each gold Buffalo coin.
The US Mint continued producing the American gold Buffalo coins in 2007 and 2008. The coins are so popular among collectors and investors that, for a time in late 2008, the US Mint had to suspend sales because they could not keep up with demand.
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How to Buy Gold American Buffalo Coin Online Safely
Written by admin on February 11, 2009 – 10:15 pm -With current economy in crisis and gold prices rising, smart investors have turned to gold for better asset preservation. Buying gold coins, such as gold American Buffalo coin, are the most practical method of owning gold. As the first 24-karat gold Bullion coin released by the United States Mint, gold Buffalo coin is the ideal coin for you to start, because the weight, gold content and purity of Buffalo gold coins are guaranteed by the U.S. government.
One of the best ways to purchase gold American Buffalo coin is online at BuffaloCoin.com. Our Buffalo coin auctions always ensures you can really get the best values buying your dream Buffalo gold coins. There are many ways buyers are protected, but the best way to determine if a seller is reputable by looking at their feedback score and comments left by previous customers.
Here are important tips that will give you a pleasant and save experience for your next online purchase at BuffaloCoin.com.
1. Buy from Power Sellers, who are well established and care about their reputation and customers. You can also buy from a seller who has been around for a while.
2. Always check the feedback number. The higher number of feedbacks, more confidence you can have in a seller. Also look at feedback scores as well. A good rule of thumb is always buying from a seller with feedback score over 90%.
3. Try to find gold coin auctions with “No reserve price”. So you do not have to bid up to “reasonable” price on the coin, and actually may land a better deal on a gold coin.
4. Read the auction listing carefully. Don't forget fine prints and Return policy. Ideally, you want the seller to allow 7 to 10 day for you to evaluate the gold American Buffalo coin and decide if the coin was advertised correctly.
If you are going to buy gold American Buffalo coin or any other coin online, remember to keep an eye on the gold market value, as daily fluctuations can be dramatic sometimes.
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