By Paul Shaefer

Gold - everyone loves it, especially when it comes in the form of something anyone can use. The gold coin. It's one of the most recognizable forms of money there is - even if it's not technically money. And, one of the more recognizable coins out there in the marketplace is the classic American Buffalo.

The coin was first minted in 2006, and are the only .9999 fine, 24-karat gold coins ever struck by the U.S. mint. The denomination on them is a mere $50, but don't treat it like $50. It's worth a whole lot more than that.

The gold version of this coin is modeled after the buffalo nickel, which was first issued in 1913. It's still one of America's most sough-after coins. Though obviously, the gold coin in much larger in size and heavier in weight, it features the exact same design as the old nickel. The obverse depicts the classic profile of a Native American chief. The reverse shows the American Bison.

Benefits Of Ownership

• Gold Content - American Buffaloes are the only 24-karat bullion gold coins that are guaranteed in terms of weight and gold content by the U.S. government.

• Mint - Unlike American Eagle gold coins, the Buffalo is minted in 24-karat, 99.99 percent pure gold. Eagles are only 91.67 purity, with a small amount of silver and copper mixed in.

• Easy To Store - American Buffaloes are really easy to store, come prepackaged by the U.S. Mint in transparent sheets for protection, and are compact and easy to store anywhere without worrying about scuffing or scratching. because these coins are very pure, and gold is a soft metal, you'll want to keep the protective sheet over them.

• Perfect Mint Quality - The Buffalo coins are taken directly from the minting press and sealed in protective plastic sheets. This means the quality remains perfect. It's the closest thing you'll come to actually getting it straight from the mint.

• Better Than Bars Or Ingots -  Most seasoned collectors know that gold buffalo coins are easier to handle, and they're also far easier to sell, store, and transport, if needed, than bars or ingots. They also don't incur the added cost of assaying when it's time to sell. This is something that most people overlook - especially amateurs. When you buy gold ingots or bars, you have to have the metal assayed before you can sell it. No dealer will buy from you if you don't. With a coin, that job has already been done and guaranteed by the government.

• Instant Liquidity - The American Buffalo gold coin is saleable at gold market value in most areas of the world. It's also backed by the U.S. government for purity and weight, meaning that most recognized institutions and financial firms, and even gold dealers, should accept it wherever you go. And, for those that believe the apocalypse is coming, the coin is made of gold so it could really be used as money - albeit for large transactions.

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 -- Published: Thursday, 27 February 2014 | E-Mail  | Print  | Source: GoldSeek.com

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