"What is the legal tender (face) value of the ""American Buffalo"", a 24-karat gold bullion coin first offered for sale by the US Mint on 22 June 2006?"
American Buffalo (coin) American Buffalo (coin) The American Buffalo, also known as a gold buffalo, is a 24-karat bullion coin first offered for sale by the United States Mint on June 22, 2006, and available for shipment beginning on July 13. The coin follows the design of the Indian Head nickel and has gained its nickname from the American Bison on the reverse side of the design. This was the first time ever that the United States Government has minted pure (.9999) 24-karat gold coins for the public. The coin has a legal tender (face) value of US$50. Due to a combination of
American Buffalo (coin) enforced limit of only ten (10) coins per household. The catalog number of the 2006 proof coin at the U.S. Mint is (BA6). The coin was created in order to compete with foreign 24-karat gold bullion coins. Since investors sometimes prefer 99.99% pure gold over the 91.67% gold used in the American Gold Eagle, many were choosing non-U.S. coins, such as the Canadian Gold Maple Leaf, to meet their bullion needs. With the American Buffalo coin, the U.S. government hopes to increase the amount of U.S. gold sales and cash in on the 24-karat sales, which makes up about 60%