Gold has been used as a stable exchange of value throughout the ages. Gold provides a fallback when all other means of exchange fail. When the globalized economy that we now live in was in disarray, when doubts in paperback currency gripped the market, gold was looked upon as a safe investment.
All major central banks have vast tons of gold in their reserves that back their economies. Gold can be presented and bought in gold bars and gold coins. With regards to gold coins as an investment, the gold buffalo coin should be on top of your list when looking for a golden investment option.
The rich history of the gold buffalo
The gold buffalo coin, also known as the American Bison, was first offered by the U.S mint on June the 22nd 2006. The coin has the design of the Indian head on the front and has garnered its nickname from the Native American bison on the backside of the gold buffalo coin. The gold buffalo is of higher interest and intrinsic value than other coins offered by the U.S mint including the Gold American Eagle Coin and the U.S Liberty gold coin.
This is because it was the first time that the United States Government had minted highly pure (.9999) 24-karat gold coins for the public markets. Since its creation, the demand for the coin has tremendously increased driving up the price of the proof coins released since 2006. The popularity drove the price from $800 (initial price)2007 saw the gold buffalo proof coin, early samples from the mint reached $899.95 and $1,410.00 in 2009, by 2011 the price was at $2,010.00.
Design and minting of the gold coin:
The law required gold buffalo coins to be minted with gold mined from America. Furthermore, its design is inspired by the original James Earle Fraser’s design for the Buffalo nickel, commissioned from 1913 to 1918 by then-president Franklin Roosevelt. James Earle grew up in the Midwest and took inspiration from the environment around him.
The front design of a native chieftain was a combination of facial features from many individuals rather than one person. The reverse features a buffalo that lived in the New York Zoo called “the Black diamond” in his time (the 1900s). The buffalo was found at the Bronx Zoo but Fraser's account of the inspiration has been disputed. Some claim that black diamond was housed at the Central Park Zoo at the time.
Many also note that the depiction of Black Diamond’s horns is different and inaccurate from the ones on the golden buffalo featured on the coin. The buffalo is portrayed standing on a raised surface and pressing on the sides of the coin, signifying the brave and pioneering spirit of the American westward expansion.
The law that set out the creation of the gold buffalo bullion program described the coins as “numismatic items”. The design honors American history and heritage giving them immense intrinsic value beyond their current market value.
The American Congress also created the coin with the explicit goal to compete with the Austrian Philharmonic, Canadian Maple Leaf, and other .9999% pure gold coins traded by collectors and investors on the gold markets, thus these coins have been assured by the U.S government. Having a gold buffalo coin will be a precious addition to your investment portfolio.