The U.S. Mint began taking orders of the 2016 American Buffalo One-Ounce Gold Proof Coin today at noon ET. The coin bears the obverse and reverse designs created by James Earle Fraser for the now-classic Indian Head nickel, first issued in 1913. Gold Buffalo coins debuted in 2006 and were the first gold coins of 99.99% purity ever issued by the U.S. Mint.
The new Proof coin is currently priced at $1,590, but the cost may be adjusted in accordance with the the changing market value of gold, per the Mint’s pricing chart. The current price will stay in effect as long as the value of an ounce of gold stays between $1,200.00 and $1,249.99.
The obverse of the coin features Fraser’s portrait of a Native American, with the inscriptions LIBERTY, 2016, the West Point Mint’s “W” mint mark, and the letter “F” (for “Fraser”) included near the rim.
The reverse carries an image of an American Buffalo (or bison), with the inscriptions UNITED STATES OF AMERICA, E PLURIBUS UNUM, IN GOD WE TRUST, $50, 1 OZ., and .9999 FINE GOLD placed along the rim.
Gold Buffaloes have been available as collector and bullion pieces since 2006 and are composed of 24-karat gold that by law must be derived from newly mined sources in America. This year’s bullion issues have sold 59,500 pieces at the time of this writing.
Each Proof coin comes packaged in a hardwood case with an adjustable platform that includes a certificate of authenticity. There are no mintage limits or household order restrictions currently in place. For more information on the 2016 American Buffalo One-Ounce Gold Proof Coin, please visit the U.S. Mint’s Web site.