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    Celebrating 10 Years of the American Gold Buffalo Coin

    Prior to 2006, numismatists around the world had few options when it came to bullion coins from sovereign mints featuring pure 24-karat gold. The most prevalent option was the Royal Canadian Mint’s Canadian Gold Maple Leaf. In response to the demand for 24-karat, .9999 pure gold coins, the United States Mint revitalized another of its greatest historical designs for use on a brand-new gold bullion coin.

    The United States Mint unveiled the American Gold Buffalo bullion coin in 2006, featuring the historic Buffalo Nickel design from James Earle Fraser and a gold content of .9999 fineness. The American Gold Buffalo was the first-ever coin from the US Mint to feature 24-karat gold, and in 2016 the mint celebrates the 10th anniversary of this highly coveted bullion coin.

    What’s in Store for 2016 and the 10th Anniversary?

    As of February 2016, the United States Mint has not unveiled any solid plans for the American Gold Buffalo and the 10th anniversary of this first-ever pure gold bullion coin. What is known about the 2016 coins does not involve its design, but rather its packaging and status as an American bullion coin.

    The Bullion and Collectible Coin Production Efficiency and Cost Saving Act became law in the US on December 4, 2015. In addition to provisions impacting the American Gold and American Silver Eagle coins, the law set forth provisions to establish the American Gold Buffalo as the permanent .9999 fine gold bullion coin of the United States, meaning its annual production is all-but guaranteed following its 10th anniversary.

    More important to many investors and collectors, you might start seeing your American Gold Buffalo coins arrive in different packaging going forward. The law had provisions to allow for the packing and shipping of the American Gold Buffalo in 20-coin mint-sealed tubes, rather than the bulky sheets with individuals spaces for each coin. This move is due in large part to the less-rugged 24-karat gold content of the Gold Buffalo. Because it is pure gold and not alloyed with copper or nickel, it is more likely to become damaged during shipping.

    Rumors for the 10th Anniversary

    Numismatists have discussed in coin-community forums for years some changes they’d like to see in the American Gold Buffalo. For instance, fractional-weight bullion coins were struck for the series in 2008, but disappeared soon after. There have been suggestions that for the 10th anniversary, the United States Mint might reintroduce fractional-weight coins to the American Gold Buffalo lineup.

    More recently, some numismatists have suggested using new designs on one or both sides going forward. However, this seems unlikely as US Mint bullion programs have a history of using the nation’s finest coin designs from the early 20th century as the basis of major programs. Only the American Platinum Eagle proof has a changing design each year.

    What you’ll most likely see from the United States Mint on the 10th Anniversary of the American Gold Buffalo is a unique finish. For example, the coins were issued with a reverse proof in 2013 to mark the centennial of James Earle Fraser’s original design on the Buffalo Nickel. A special striking such as this or a high-relief proof is the most likely course of action if the US Mint decides on a special 10th anniversary product.

    buffalo3Brief History of the American Gold Buffalo

    The American Gold Buffalo coin was introduced in 2006 as the nation’s first and only .9999 pure gold bullion coins. James Earle Fraser was commissioned by the administration of William Howard Taft in 1911 to create a design to replace the Liberty Head design from Charles E. Barber on the US nickel.

    A resident of the American Midwest, born and raised in Winona, Minnesota, Fraser was accustomed to life on the American Plains. He used images from his youth as inspiration for the coin design that would eventually grace the Buffalo Nickel.

    Black Diamond, a resident bison of New York City’s Central Park Zoo was the inspiration behind his buffalo design, which features on the reverse of both the Buffalo Nickel and the modern American Gold Buffalo.

    For the obverse, he used the right-profile of an American Indian as the primary design. It did not represent one individual, but rather a compilation of the facial features taken from three real-life Native American leaders. The identity of those men was shrouded in mystery for years, but in 1938 he stated that the inspirational figures had been Iron Tail of the Sioux, Big Tree of the Kiowa, and Two Moons of the Cheyenne.

    Mintage History of the American Gold Buffalo

    Demand for American Gold Buffalo coins has remained relatively stable since its 2006 introduction. The long-awaited debut of an American bullion coin with .9999 pure gold led to a rush for the coins in 2006, with 337,012 coins sold. Most ears the average sales are around 200,000 in total, with a low point coming in 2012 at just 100,000 coins. Heading into the month of December 2015, sales for last year stood around 220,000 and 30,000 coins have already sold in January 2016.

    Keep checking back to our JM Bullion blog and follow us on Facebook for updates on any potential designs or alterations for the 10th Anniversary of the American Gold Buffalo in 2016.

    Disclaimer: All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.

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