If you are looking to invest in American Buffalo 24-K gold coin, then there are some things you will want to know. Understanding the history of the coins is a good place to start. You will also want to know what makes these coins unique and how to not get ripped off when purchasing them. When you understand the coin thoroughly, you can have more confidence in purchasing them.
The history of the gold buffalo coin dates back to 1913, when the original was struck. At the time, it was called the Indian Head nickel or the buffalo nickel and was worth just five cents. It was made to show the symbols of the American West. On one side was the bison; on the other side was a Native American. It was designed by the sculptor James Earle Fraser. Fraser was one of the great artists of his time and was trained by another great, Augustus Saint-Gaudens.
The famous Native American on the coin was not one, but three Native Americans. Many Native Americans modeled for the sculptor James Earle Fraser, but he said that the likeness on the coin was made up of only three of them. He only remembered the names of two of the Native Americans, and the third remains a mystery. The to he does remember are the chief of a Lakota Sioux tribe, Chief Iron Tail, and a chief of a Cheyenne tribe, Chief Two Moons. The third will remain a mystery.
The American Buffalo 24-K gold coin started to be produced in 2006. It was in 2005 that a law was passed for them to be minted and released. These are a .9999 fine 24-karat gold coin. They were the first coin from United States Mint to be .9999 fine. Each one is struck at West Point. The one ounce gold coins are released with a certificate of authenticity.
When purchasing an American Buffalo 24-K gold coin, you need to be wary of a few things. If a dealer does not have a certificate of authenticity, it is not a dealer that you want to be working with. If you want a list of reputable dealers, the US Mint website will have some near you. There will be many reputable dealers not on that list, but it is a good starting point. Compare prices, as prices will vary by dealer. Many turn to ebay for coin collecting. Again, you will need to be sure that you will get a certificate of authenticity and be willing to dispute the sale if it doesn’t go through as expected. Being prepared and well informed is the best thing you can do to prepare for any gold transaction.