In 2006, the U.S. Mint entered into the .9999 fine gold bullion market with the release of the $50 Buffalo gold coins in Mint State and Proof. The coins are distributed in the same way as the Eagles, with Mint States only available through distributors and meant for bullion buyers and the Proofs available directly from the Mint for collectors. The initial issue price was $815 for the Proof coins. Gold has since risen past that level, but these collector coins have still kept a premium over gold spot.

Upon their release, these coins were immensely popular with collectors. It drew in many gold eagle collectors looking for something different as well as a lot of collectors of classic coinage because of the appeal of the Buffalo nickel design that was used for the Gold Buffalos. The demand was so great, that the mintage for the 2006 Proofs topped 245,000. This was the highest mintage for a Proof gold coin since the late 80s.

NGC has graded 5872 coins with the First Strikes label. These were coins submitted within the first thirty days of release creating a limited number of coins eligible for the special label. Of those, 3037 were graded PF70 UC. For the regular NGC labels, 18773 coins have been graded with 9845 PF70 UCs.

Year: First year of issue: 2006


U.S. Mint Facility: West Point


Public Law: 109-145; $1 Presidential Coin Act of 2005



Obverse

Engraver: James Earle Fraser


Description: Based on the original 1913 Buffalo nickel, Type 1, as designed by James Earle Fraser.



Reverse


Engraver: James Earle Fraser


Description: Based on the original 1913 Buffalo nickel, Type 1, as designed by James Earle Fraser.