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On June 22, 2006, the United States Mint issued the American Buffalo gold coin, also well known as the gold buffalo. The American Buffalo was the first gold coin that was made available to the public consisting of 24-karat gold. The coins are made of one troy ounce of pure gold and has a face-value of $50, and according to the President $1 Coin Act of 2005, only 300,000 can be produced.
The artistry of the American Buffalo is taken from the highly regarded design of James Early Fraser. The original design of James Earle Fraser's was on the Type I Indian Head nickel that was released in 1913. It has the profile of an Native American, which has the combined features of three Native Americans. Prior to his death, Fraser reported that one was Chief Iron Tail of the Lakota Sioux and Chief Two Moons of Cheyenne. However, he could not recall the name of the third Native American that modeled for him that allowed for this stunning and memorable portrait. To this day, there has been speculation and people claiming who was the third Native American that posed for Fraser. Yet to this date, there has not been enough information found to support any claims of who was the third person.
The opposing side of the coin has a design of an American Buffalo, or also known as a bison, upon a mound of dirt. It has been said that Fraser had designed this after Black Diamond, a bison that was at the Central Park Zoo in New York City during the 1910s. There are also stories that have been circulated that Fraser had a person with him when he created the portrait of Black Diamond. Apparently without this person, when Fraser tried to draw the bison he would look directly at Fraser. This person acted as a distraction so that Fraser could get Black Diamond's profile while creating his work.
During the years of 2006 and 2007, the United States Mint only issued the American Buffalo in one troy ounce. However, in 2008, the coin was also produced in 1/10, 1/4 and 1/2 troy ounces with face values of $5, $10 and $25. More recently, during the middle of October 2009, the coin was released in bullion form and at the end of October 2009 proof versions in only one ounce quantities were made available. All American Buffalo gold coins are struck at the West Point Mint in New York and only proof versions have the "W" mint mark.
James Kirkwood is a long-time bullion coin enthusiast who enjoys writing articles about gold and silver coins, including Buffalo Gold Proof Coins and hard to find NGC Buffalo Gold Proof Coins for numismatists.
Article Source:
http://EzineArticles.com/?expert=James_Kirkwood
The American buffalo gold billion coins were first minted in 2006. It is the first 24 karat gold coin that was minted in the United State. When it was released it became the investor's favorite, because of its popularity the mint has to suspend the coins sale in the late 2008 for they cannot keep up with its demand.
The coin features a Native American on one side and a buffalo on the other, this coin has a face value of $50 per 1-oz coin. The United State mint is planning to mint this coin indefinitely.
The buffalo bullion gold coin design originated way back 1913 and was design by the artist James Earle Fraser. On the original design the bison was standing on a mound but they later change it by and removed the mount. But in the 24 karat American buffalo gold bullion they followed the original design.
The coin serves as a purpose, and this is to compete with the other foreign 24 karat investment coins. For most of the investors prefer a pure gold coin issued by other foreign mints. If you want to try investing in this coin then here are some advices and tips on how you can buy one.
- Before you get into the gold business you have to know, understand, and study about investing gold. You should be equipped with knowledge so that dealers won't take advantage of you being a novice in the field.
- This buffalo gold coin can be purchased directly at the United States mint, dealers and Federal Reserve System. If you have a friend that knows his way through this business then you could ask for his help. Ask him where he buys his coin and know if his dealer also sells American buffalo gold bullion coin.
- You also have to know how many buffalo coins you wanted to buy, and before talking to the dealers make a research on the possible prices of the coins. Also ask your dealer some marketing materials, commodity and pricing comparisons.
- Before buying you must study the negotiation investment see if it will be a good investment for you or not before you decide to buy those coins.
- Also you have to prepare a safe place where you could hide your precious metal when you decide to buy it. You could rent a safety deposit box if you feel like it is not safe even if it is inside a vault in your home.
- Remember to know the terms and condition of receiving a coin and also ask for a legal receipt.
Some say gold is a good investment especially when the economy right now is doing poorly. However, others think that gold pries have risen too much over the past decade. Investing is good as long as you know how to invest.
Find American buffalo gold bullion coins
and more on how to buy gold bullion coins on Gordon Smith's website.
Article Source:
http://EzineArticles.com/?expert=Gordon_H._Smith
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