American Buffalo
On June 22, 2006 the United States Mint announced the release of American Buffalo aka Gold Buffalo that was a 24-karat gold bullion coin, starting its sale from July 13. The purity of the metal used was 99.99%. The face value of the coin being $50, its bullion value came out to be more than $800.
The coin was minted with an eye on competing in the international 24-karat gold bullion coins with other countries, the main being Canada so strongly equipped with its famous Gold Maple Leaf. There had always been a greater demand for 99.99% pure gold than 91.67% gold used in such coins, which American Gold Eagle had used before. So the new coin filled the hole that was there in the American market as far as the bullion coin trade was concerned.
I-Ching Coin
