On May 13, 2021, the US Mint (hereinafter - the Mint) announced the next issue of the American Buffalo gold investment coin of pruff quality. It is also known as the Indian Head. The mint will not impose restrictions on the circulation and sale of the product to certain categories of buyers.
From English, buffalo is translated as "bison" or "buffalo." In the numismatist world, this coin is called the Golden American Buffalo. The mention of precious metal in the name is no coincidence: at the beginning of the 20th century in the United States there was an American Bison copper-nickel coin with a face value of 5 cents, which was first minted in 1913. The release of the golden Buffalo took place in 2006. It was the first 24-carat gold coin in the history of the Mint.
History of the release of the golden Buffalo
At the beginning of the 21st century, global investment demand for coins made of 24-carat yellow metal of the highest standard (0.9999) increased significantly. In the USA, they did not produce products of such a sample, so the Maple Leaf (Canada) and Vienna Philharmonicer (Austria) coins were popular with domestic investors. Foreign coins won the American market, leaving the Mint out of business.
In December 2005, the US Congress passed a law on presidential coins with a face value of $1 to take advantage of the increase in demand for 24-carat gold coins and successfully compete in the world market. The law granted the Mint the right to mint the first 24-carat American Buffalo gold coin in its history, which appeared on sale in 2006.
Since then, the Mint has annually issued the American Buffalo weighing 1 troy ounce and a face value of $50. In 2008, in addition to the main coin, other weight categories appeared: ½ ounces with a face value of $25, ¼ ounces with a face value of $10 and 1/10 ounces with a face value of $5. These versions were available for sale only in 2008.
Description of the design of the 1913 coin
The design of the copper-nickel "American Buffalo" was created by James Earl Fraser, an outstanding American sculptor, in 1913.
The obverse of the coin depicts the profile of an Indian with a braided oblique and feathers. According to reports, the artist created this image using portraits of the leaders of three Indian tribes - Kayova, Sioux and Cheyenne. In the lower part, the year of minting and the letter "F" are engraved - the monogram of the engraver.
On the reverses of the two versions of coins there are different images of the bison. On the reverse of the first version, it stands on a hill, and below is the face value of the coin. On the second version of the bison stands on the pedestal, and there is also the inscription "FIVE CENTS" and the letters "F" or "D" (minting place: "D" - Denver, "F" - San Francisco) and without the letter. The prototype of the animal is the 700-kilogram Black Diamond bison. In the early 1900s, he lived in the zoo of New York Central Park.
The copper-nickel "American Buffalo" was in circulation during 1913-1938. During this time, more than 1.2 billion five-centoviks were produced.
Modern coin version
The decoration of the gold coin is a modified copy of the design of the American Buffalo copper-nickel.
The obverse of modern Buffalo depicts a portrait of an Indian with a braided oblique and two feathers in the back of his head. On the left is the sign "W," indicating the place of coinage (Mint factory in West Point). On the upper right edge is the inscription "LIBERTY" (English Freedom). On the contrary, the letter "F" is engraved - a monogram of the artist's surname, and at the bottom - the year of minting.
The reverse of the coin depicts a bison standing on a small plot of land. From above, an arc along the cant, passes the inscription "UNITED STATES OF AMERICA" (English USA), and under it the phrase "E pluribus unum" - lat. "From the set - unity." On the reverse of the modern coin are additional inscriptions "IN GOD WE TRUST," which translates as "We believe in God." At the bottom along the cant are signs of the coin face value, its weight and sample (0.9999).