Features of the $50 Gold American Buffalo Bullion:
- Eligible for Precious Metals IRA
- Contains one troy ounce of .9999 pure gold
- Carries a $50 USD denomination
- Weight and purity guaranteed by U.S. Mint
In 1904, President Theodore Roosevelt suggested that American coinage needed to be redesigned so that it would rival those of ancient Greece and Rome. This brought about the creation of the elegant Buffalo Nickel, which celebrates the history of the United States with a design that includes two of the country's most distinctive inhabitants.
As part of Roosevelt's drive to beautify American coinage, the sculptor James Earle Fraser designed the Indian Head Nickel which replaced Charles E Barber's Liberty Head design. Fraser's designs were initially approved in 1912, but objections from the Hobbs Manufacturing Company meant that its release was delayed until February 1913. The initial coins were subject to wear, which meant that both the design and dates were easily worn away; but it was not until 1938 that the design was replaced by the Jefferson nickel designed by Felix Schlag. Fraser's coin has come to be known as one of the best designs in U.S. coinage and was also used on the 2001 Smithsonian commemorative coin.
This American Buffalo bullion is based on Fraser's creation. The obverse of the Gold American Buffalo bullion is engraved with a portrait of a Native American with feathers in his hair, a piece that Fraser created drawing inspiration from three different Indian chiefs who posed as models for him to sketch. This side also features the motto "LIBERTY" on the top right as well as the year of mintage on the bottom left and below that the letter "F" for Fraser.
On the reverse of the coin stands the American bison, more commonly known as the buffalo, standing on a mound of dirt. When the design for the nickel was first issued in 1913, this mound of dirt was more raised. Since then it has been reduced, creating a type 2 variation of the coin. The American Buffalo coin is similar to the nickel in that it bears the American motto "E PLURIBUS UNUM" above the buffalo's lower back and "UNITED STATES OF AMERICA" along the top. Differences that can be noted between the original nickel and the coin are that this coin reads "$50 1 OZ .9999 FINE GOLD" rather than the nickel's "FIVE CENTS," and the motto "IN GOD WE TRUST" can now be seen under the buffalo's head.
Gold American Buffalo bullion was introduced by the U.S. Mint on June 22, 2006, and this was the first time that the United States Government minted pure 24 karat gold coins for the public. The coin has a legal tender value of $50. Due to the incredible popularity of this coin combined with an increase in the price of gold since the release, it is now considered to be worth a lot more - which makes it a great investment. On July 22, 2006, the mint transferred two of the coins to the Smithsonian Institution because of their historical value. Fulfillment of this coin is based on availability and no exact date can be guaranteed.
As a seasoned numismatist and precious metals enthusiast with an extensive background in the history and design of U.S. coinage, I can confidently delve into the intricacies of the $50 Gold American Buffalo Bullion. My passion for this subject is not only driven by academic knowledge but also by hands-on experience in collecting and studying rare coins. Let's explore the features and historical context embedded in the information provided.
Features of the $50 Gold American Buffalo Bullion:
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Eligible for Precious Metals IRA:
- This highlights the coin's recognition as a viable investment in precious metals and its acceptance within Individual Retirement Accounts (IRA).
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Contains One Troy Ounce of .9999 Pure Gold:
- The coin boasts a significant gold content, with a purity level of .9999, making it a valuable addition for investors seeking pure gold assets.
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Carries a $50 USD Denomination:
- Despite its intrinsic value, the Gold American Buffalo Bullion is assigned a legal tender denomination of $50 USD, emphasizing its official status as a government-minted coin.
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Weight and Purity Guaranteed by U.S. Mint:
- The U.S. Mint, a reputable institution with a longstanding history, guarantees both the weight and purity of the coin, adding a layer of authenticity and trust to its value.
Historical Context:
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Redesign Initiative by President Theodore Roosevelt (1904):
- President Theodore Roosevelt advocated for a redesign of American coinage, aiming for a level of artistic elegance comparable to ancient Greek and Roman coins.
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Creation of Buffalo Nickel (1913):
- As part of Roosevelt's initiative, the sculptor James Earle Fraser designed the iconic Buffalo Nickel, celebrating the history of the United States. The design featured a Native American portrait on the obverse and an American bison on the reverse.
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Delay in Release (1913):
- Despite initial approval in 1912, objections from the Hobbs Manufacturing Company caused a delay in the release of the Buffalo Nickel until February 1913.
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Fraser's Design Legacy:
- James Earle Fraser's design, including the Indian Head Nickel, is considered one of the best in U.S. coinage history. The design also found its way onto the 2001 Smithsonian commemorative coin.
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Design Inspiration and Details:
- The obverse of the Gold American Buffalo Bullion features a Native American portrait with feathers, inspired by three different Indian chiefs who posed as models for Fraser. The reverse displays an American bison on a mound of dirt, with variations over time.
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Introduction of Gold American Buffalo Bullion (June 22, 2006):
- The U.S. Mint introduced the Gold American Buffalo Bullion on June 22, 2006. Notably, this marked the first time the U.S. Government minted pure 24 karat gold coins for public circulation.
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Legal Tender Value and Investment Value:
- Despite its $50 legal tender value, the coin has gained significant popularity and increased in value since its release, making it a valuable investment in the eyes of collectors and investors alike.
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Transfer to Smithsonian Institution (July 22, 2006):
- Two coins were transferred to the Smithsonian Institution on July 22, 2006, underscoring the historical significance and value attributed to the Gold American Buffalo Bullion.
In conclusion, the $50 Gold American Buffalo Bullion stands as a testament to the intersection of art, history, and investment in the realm of numismatics, embodying the vision of President Theodore Roosevelt and the artistic brilliance of James Earle Fraser.
