The US Mint has a long history of making beautiful gold coins, but before 2006, the gold included an 8.3% metal alloy to improve its physical endurance properties. Although sales of impure gold coins were brisk through the turn of the century, the bullion investment marketplace was developing a growing appreciation and demand for pure bullion coins. While sales of impure gold coins remained strong into the early 21st century, the bullion investment market began to show a preference for pure bullion coins. This trend was particularly notable due to coins minted by Canadian and Austrian mints.
The U.S. Mint wanted to meet the demand for pure gold coins while maintaining the value of existing Gold Eagle coinage (a 22-karat gold coin). Rightly so, the Mint feared that any alteration or enhancement to the purity of the Gold Eagle series could lead to older issues being perceived as inferior compared to all gold coins. And the Mint itself would gain the unsavory reputation of producing coins with depreciating value.
Although a copper alloy in gold coins truly benefits strength against wear, it would have been compared to and disparaged as a disadvantage, making them totally undesirable. The U.S. Mint correctly determined they could support both product lines with alternative features and advantages. Thus, the concept of making a second pure gold bullion coin was born.
By the late 20th century, one-ounce coins were most popular with investors. Following suit, the Gold Buffalo is precisely one ounce of 99.99% pure gold. The pure 24k Gold Buffalo has the same 32.7mm diameter as the U.S. Mint’s 22k 1 oz American Eagle. Both gold bullion coins have seen great purchaser appreciation.
The American Buffalo Gold Coin quickly established itself as one of the world’s top bullion coins. Since its introduction in 2006, the U.S. Mint has minted and distributed approximately 4 million coins, with an average annual distribution of about 217,000. The coin’s popularity reached its peak in 2022, with over 400,000 coins purchased. These figures are a testament to the coin’s lasting appeal and its potential as a sound investment.
Indeed, the 1 oz American Buffalo Gold Coin is a well-received and well-traded bullion item in the marketplace. The legal tender currency amount of this 1 oz gold coin is just $50, representing a mere token face value amount to make this gold coin an indisputable medium of exchange. Because of the Gold Buffalo’s high purity and legal status, it is frequently purchased for a precious metals IRA. Furthermore, it is a very popular item selected for Brinks depository storage through Monex Deposit Company. This simple process provides a secure and convenient way to store your investment.
Call a Monex account representative to discuss the ins and outs of IRA investing, Brinks storage, and whether the American Gold Buffalo Coin suits you best. Our knowledgeable staff is ready and willing to answer any questions you may have about investing in gold bullion coins.
The Royal Canadian Mint’s Commitment to Quality In 1979, the prestigious Royal Canadian Mint began production of the 1 oz. Canadian Maple Leaf gold coin with a consistency of 99.9%. At the time, the only competitive private investment coin in the market was the 91.67% pure gold South African Krugerrand. The increased gold purity consistency more…
The Iconic Maple Leaf Known for its vibrant autumn colors, the maple tree is a prominent species in the eastern Canadian landscape. While the tree itself was an invaluable part of the indigenous Canadians and early settlers’ lifestyle, the Canadian government did not officially adopt the maple leaf as its national symbol until 1965. Today, more…
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