2011 Proof American Gold Buffalo

A little more than two months after the release of the bullion version of the coin, the US Mint began sales of the 2011 Proof American Gold Buffalo for collectors. This is the sixth annual release for the 24 karat gold coin series.

The issue has had a dedicated following due to the use of the popular design. The obverse and reverse are taken from James Earle Fraser’s Buffalo Nickel, representing the Type 1 variety issued in 1913. The broader series continued until 1938, when it was replaced with the Jefferson Nickel.

Each 2011 Proof Gold Buffalo contains one troy ounce of .9999 fine ( 24 karat) gold. This was the first offering of the United States Mint to be struck in this level of purity. The popular American Gold Eagle is struck in a purity of 22 karat of .9167.

As the price of gold has risen, the proof Gold Buffalo has become more expensive. Each coin is priced at $1,760. Many collectors will wish that fractional weight versions of the coin were available to provide a lower pricing point. The US Mint did make fractional versions in 2008, but discontinued the offering after only one year.

This one of many coins this year that I will “wait and see”. The price of various offerings that I collect has been increasing, leaving less room for series that I have occasionally collected.

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