Individuals who buy gold coins are often familiar with the American Gold Buffalo coin but they may not have heard of American Silver Buffalo coins. This commemorative one-dollar coin was released to the public on June 07, 2001, and is made from 90 percent pure silver. This coin commemorated the opening of the Smithsonian Institution’s National Museum of the American Indian. Money raised by coin sales were used to supplement the ongoing educational and endowment funds of the museum.
The American Buffalo Commemorative Coin Act of 2000 authorized the production of this American Silver Buffalo coin. Uncirculated versions of these coins were minted at the Denver Mint and proof versions were minted at the Philadelphia Mint. The American Silver Buffalo was considered legal tender but was never circulated. Only 500,000 of these coins were minted and it had a short run, selling out on June 21, 2001.
A $10 surcharge per coin went to the National Museum of the American Indian and its educational and endowment efforts. This museum broke ground in the National Mall in Washington, DC, in September 1999 and features over 10,000 years of American history. It opened in 2004 and attracts millions of visitors every year.
The design of the American Silver Buffalo coin is based on the five-cent buffalo nickel designed by artist James Earle Fraser. Original Buffalo nickel coins were minted between 1913 and 1938 and remain very popular with collectors and investors. The Central Park Zoo in New York housed the buffalo model for the original Fraser-designed coin. The American Silver Buffalo contains a profile image of an American Indian on the front and an American buffalo on the back.
Uncirculated American Silver Buffalo uncirculated coins have an approximate value of $240. The ultra cameo version is lighter in color and is much rarer, with a value of $800. In 2009 and 2010, some private mints produced an American Silver Buffalo round coin that is one troy ounce of 99.9 percent silver and this coin retails for around $20.
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