The United States Mint is placing the 2023-W $50 Proof American Buffalo Gold Coin, produced by the West Point Mint, on sale today at noon ET.
This collectible is composed of 1 ounce of .9999 fine 24-karat gold, making it one of the purest gold coins available in the world. Each features classic designs familiar to many in the coin collecting community.
American Gold Buffalos date back to 2006 when the U.S. Mint released inaugural bullion editions and followed with special proofs that feature frosted design elements against mirror-like backgrounds. Since their debut, thousands have sold annually. For instance, in the first quarter of this year, the regular bullion version had already logged sales of 151,500 coins.
Coin Designs and Specifications
The 1913 Buffalo nickel, Type 1, as created by sculptor James Earle Fraser, serves as the design origin for these gold coins. This includes the likeness of an American Indian (Native American) on the obverse as well as a buffalo (American bison) on the reverse or tails side.
An amalgamation of several individuals is said to have been used by Fraser to create the right facing portrait found on the obverse each each coin. Inscriptions on the obverse read "LIBERTY" and "2023" along with an artist inscription of "F" and a mintmark of "W" indicating the coin was produced at the U.S. Mint’s facility in West Point.
A buffalo (bison) is found on the reverse perched atop a small rise in the landscape. Reverse inscriptions read "UNITED STATES OF AMERICA," "E PLURIBUS UNUM," "IN GOD WE TRUST," "$50," "1 OZ.," and ".9999 FINE GOLD."
Specifications for the gold coin are offered in the table below:
American Buffalo Gold Coin Specifications
|Weight:||1.0000 troy ounce
|Mint and Mint Mark:||West Point – W|
Sales of Proof American Buffalo Gold Coins
For further reference, the table below shows sales of the 1 ounce proof Gold Buffalos since their introduction in 2006.
|Year of Issue||Opening Price||Sales|
|2022 (released on May 12)||$2,790.00||15,933|
|2021 (released on May 14)||$2,740.00||16,958|
|2020 (released on April 9)||$2,315.00||11,887|
|2019 (released on April 12)||$1,660.00||14,844|
|2018 (released on May 10)||$1,710.00||15,756|
|2017 (released on May 11)||$1,590.00||15,810|
|2016 (released on March 31)||$1,590.00||21,878|
|2015 (released on April 9)||$1,590.00||16,591|
|2014 (released on May 8)||$1,640.00||20,557|
|2013 (released on May 23)||$1,790.00||18,594|
|2012 (released March 15)||$1,960.00||19,715|
|2011 (released May 19)||$1,760.00||28,683|
|2010 (released June 3)||$1,510.00||49,263|
|2009 (released October 29)||$1,360.00||49,306|
|2008 (released July 22)||$1,199.95||18,863|
|2007 (released May 23)||$825.95||58,998|
|2006 (released June 22)||$800.00||246,267|
Special fractional sizes and a reverse proof coin have also appeared at times in the series.
Ordering and Mintage
The 2023-W $50 Proof American Buffalo Gold Coin may be ordered directly from the U.S. Mint via their webpage dedicated to gold coins at a price of $2,940.
This initial pricing is subject to change weekly depending on the Mint’s precious metals coin pricing matrix. Currently, pricing is based on LBMA gold that averages within $2,000 to $2,049.99 an ounce.
Mintage for the coin is limited to 16,000. Each is encapsulated and placed in a black presentation case with the United States Mint seal on the lid.