An Old West Era Icon – The Memorable 24 Karat American Buffalo Coin!
On December 22, 2005, the Presidential $1 Coin Act authorized the production of the American Buffalo 24-karat gold coins. These gorgeous gold bullion coins were first offered for sale in 2006 in one-ounce, .9999 fine gold, with a face value of fifty dollars. This actually was the first time that the U.S. Mint struck 24-karat gold coins for public consumption. The coin’s design was based on the historic 1913-1938 “Indian Head” nickel done by American sculptor, James Earle Fraser, previously a student of Augustus Saint-Gaudens. In 1913, there were actually two variations of the original design: the first showed a bison on a mound; the second with the base changed into a straight, thinner line. The American Buffalo coins are based on Fraser’s Type I design.
On the obverse of the coin is striking image of a Native American, which is based on three different American Indians. Fraser gave the names of two of the individuals, but he was not able to remember the name of the third. Chief Two Moons of the Cheyenne and Chief Iron Tail of the Lakota Sioux tribes were the ones whose names Fraser revealed. Chief Big Tree’s name has come up as the remaining model, but no documentation has been found to prove that is the case. The proud image of the Native American is in profile, facing right, with feathers adorning his hair. The obverse coin’s inscriptions have the “W” mint mark of the U.S. Mint at West Point, the year of issue and the word “Liberty”. In fact, all of the 24-karat American Buffalo coins were struck at the West Point United States Mint.
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