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Buffalo Gold Coin Review: Is it Legit or Scam?

Last Updated: April 3, 2024

Gold Buffalo coins are made of 24-karat gold and are highly collectible. Investors seek American Gold Buffalo coin sets to add to their collections. Coin collectors all over the world want to learn about these coins so they can decide if Gold Buffalos are right for them.

american buffalo gold coin review

What Are Gold Buffalo Coins?

In this Gold Buffalo coin review, we will give you all the details – from the fractional range to the mint mark. These coins are some of the most beautiful in the world and are one of the most popular coins available.

From the iconic image designed after the Indian Head nickel to the pure 24-karat gold, it is clear the American Buffalo is a treasure but is it something you should add to your coin collection?

Should you purchase these coins from the United States Government and can they be added to your precious metal IRA? These are questions we will answer below.

Attention Americans 50 and Over:

History of Gold Buffalo Coins

The United States Government first released the Gold American Buffalo in 2006. The minting of the American Buffalo was the first time in American history that the US government released a pure 24-karat coin for public purchase

American Buffalo gold has risen in popularity and value. The initial cost of the coin was $800, but the price has risen steadily since its release. Those interested in investing in physical gold often pursue these coins for their value and iconic American heritage.

As of now, all Buffalo coins are minted at West Point Mint in New York. This coin gets its name from the American Bison on the reverse side.

Why Were American Gold Buffalo Coins Minted?

Aside from adding to American history, the government decided to mint gold Buffalo coins because many collectors prefer investing in pure gold over the 91.6% purity of American Gold Eagle coins.

The government has discovered these coins have brought in higher sales than many other options. They continue to mint these coins today.

How Many Gold Buffalo Coins Are Minted Each Year?

How many Gold Buffalos are minted each year? When the coins were first minted in 2006, the government undertook the most massive releases, with 337,012 coins and 246,267 proofs.

Subsequent years saw the following American Gold Buffalo coins being released:

As you can see, the distribution of American Gold Buffalo coins has risen and fallen over the years. In 2021, the Mint exceeded its original release numbers from 2006 as demand continued to rise.

If you are interested in purchasing a gold Buffalo coin, now is an ideal time as the bullion gold coin market continues to increase its expansiveness.  You might also consider purchasing Austrian Philharmonic Gold coins.

Physical Characteristics and Design

Besides being the first pure gold coin released by the United States Mint, these coins are also highly collectible because of their beautiful design. The design of Gold Buffalo coins was made from a modified version of the original design created by James Earle Fraser.

James Earle Fraser created the Native American chief from a combination of chiefs from three famous tribes, including Iron Tail, Big Tree, and Two Moons. The front of the coin features the word liberty on the top right and the year of mintage on the bottom left. The coin also contains the letter “F” for Fraser.

On the reverse side of the coin, you will find a buffalo standing on a mound of dirt. At the top of the coin, The United States of America is proudly emblazoned.

The upper right contains E Pluribus Unum, and the lower right rear of the coin says, “In God We Trust.” At the bottom of the American Buffalo Gold coin, you will read, “$50 1 OZ. .9999 FINE GOLD.”

Specifications of the American Gold Buffalo Coin

If you want to invest in gold coins, knowing the specifications is going to become essential for the prevention of getting scammed. In this gold Buffalo Coin review, we want to give you the specifications so you can be sure you are not purchasing a counterfeit.

Before purchasing an American Gold Buffalo coin from any source, you must ensure the above measurements check out. If any of the above does not match the coin, do not purchase!

Types of Gold Buffalo Coins

There are two types of Buffalo coin options. If you want to purchase gold coins, consider the following types of fine gold Buffalo coins from the United States Mint:

One of the most valuable American Buffalo gold coins is uncirculated. Some of these coins can cost upwards of $2,000. Uncirculated means the Gold Buffalo coin has never been used and is fresh from the mint.

If you are going to purchase an uncirculated American Gold Buffalo, you must work with a reputable dealer to avoid a gold Buffalo coin scam. An uncirculated Buffalo $50 gold coin is a great investment that allows you to diversify your investment portfolio.

When looking up the 50 Buffalo Gold coin value chart, you will find proof coins are highly valuable and sought-after coins by collectors. How much is a Buffalo Gold coin worth? We will answer this question below.

Proofs are made specifically for coin collectors. To determine if you have proof coins, look for the following:

  • The flat surfaces should be highly polished and smooth.
  • Proof coins will have a very high relief, meaning the lettering and images should be very clear and sharp.
  • The edges of the coin should be smooth.

Proofs are almost always going to be in greater demand and require a higher price tag than uncirculated coins. If you have to choose between the two Gold Buffalo coin options, go with proofs.

Are Gold Buffalo Coins Taxable?

When purchasing American Gold Buffalo coins for an investment, they will be taxed by the Internal Revenue Service. The IRS considers coin investments a long-term capital gain and taxes them at 28%. Investing in Gold Buffalos will require you to declare gains on your taxes.

What Is the Fractional Range of American Gold Buffalo Coins?

The US Mint once released smaller fractions of the American Buffalo Gold coins. In the beginning, only one troy ounce was available. In 2008, the Mint released the following fractional ranges that were sold individually.

In 2009, the US Mint sold the above in a boxed set. Because these American Gold Buffalo were released in such small numbers, you can imagine they are very rare and expensive.

Are Gold Buffalo Coins a Good Investment?

If you are considering purchasing an American Gold Buffalo, you need to know if this coin is worth your investment time. Will it bring great value to your investment portfolio or is it more of a niche collectible?

As we write this Gold Buffalo Tribute Proof review, we know you want to know if these coins are worth your time. The answer to this is yes!

This particular gold coin is an especially promising investment because it is a collectible in limited numbers and is likely to rise exponentially in value over the years. Purchasing a Gold Buffalo coin will bring you a high ROI in the future.

How Much Is an American Gold Buffalo Coin Worth?

The value of an American Gold Buffalo coin is going to vary according to the year of mint and type. These values fluctuate like other gold bullion coins.

The following offers the approximate value of these coins based on the year of mintage at the time of this writing. These prices are subject to change, so check the current price for American Buffalo coins.

Can You Purchase Gold American Buffalo Coins for an IRA?

Many people are interested in collecting the gold Buffalo coin and wonder if it is eligible for a gold IRA. According to IRS rules, coins and bars must be 99.95% pure. The purity of the Buffalo coin is 99.99% pure, so this coin qualifies for an IRA investment.

A precious metal IRA allows you to hold American Gold Eagle coins and gold Buffalos, among other investment options. As long as you are purchasing fine gold or silver, you can hold these in your IRA account.

If you are looking for a valuable gold investment, you cannot go wrong with the 9999 fine gold of a 1 oz Buffalo gold coin. Just be sure you purchase from a reputable seller so you do not buy a gold Buffalo coin fake. These minted coins are a good investment for your gold IRA and are officially approved.

What Are the Benefits of Investing in Gold American Buffalo Coins?

There is no doubt that precious metals are the investment of choice. Unlike stocks and bonds, gold is not tied to the dollar. The US Mint regularly releases precious metal options for investment, including the American Gold Eagle coins. The classic design of these coins makes them highly collectible.

The following are some of the top benefits of investing in a 1 oz gold American Buffalo coin. Being aware of the benefits of collecting this Native American, beautiful coin and other precious metals will help you draw up the best investment strategy.

Where Can You Buy and Sell Gold Buffalos?

You can purchase popular gold coins, like the West Point Buffalo, from gold dealers and a variety of sources. Purchasing from a reputable gold company is essential for being able to obtain the most popular gold coins without being scammed.

While many investors purchase precious metals from estate and online auctions, you should practice caution. Remember to look for the clues to ensure your Buffalo Nickel is truly legal tender and not a fake.

If you decide to sell your precious metals, you have options available. As long as you are selling a legal tender made from precious metal, you can sell to just about anyone, including gold dealers.

Collectible coins, like the Central Park Zoo coin and other options, are more likely to fetch a high price because of demand. You can especially sell for a profit if the reverse design of the coin is highly prized, like the Buffalo.

gold buffalo coin

FAQ From Our Gold Buffalo Coin Review

This coin is real and available for purchase for your private collection or IRA.

These coins have a face value of $50, but range in selling price from $1,000 to over $2,000.  If you have other rare coins, you can visit our page on rare coin valuations.

These coins are made of 99.99% pure 24-karat gold.

Because they are made of pure 24-karat gold and are highly sought after, these coins make a perfect investment. You can invest in these with your IRA.

Final Thoughts

If you are searching for options for investing in physical gold, the Buffalo is a sound choice. Gold retains its value, even when the dollar drops. Add this coin to your collection today, but watch out for scammers. Purchase from reputable dealers.

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