The American Gold Buffalo is this country’s bullion coin. Produced from pure 24k gold, this coin was meant to compete with other countries producing pure gold bullion coins. The original design, created by James Earle Fraser, pays heed to the U.S. Buffalo and Indian Head nickel. By U.S. law, the gold for these beautiful coins must come from newly mined sources within the nation’s borders. All the American Gold Buffalo bullion coins are struck at the U.S. Mint at West Point. The American Gold Buffalo is official U.S. legal tender; however, its value as a piece of precious metal far outstrips its face value of $50 for the 1-ounce version. It was first presented in 2006 as a 1-ounce coin; the U.S. Mint added fractional coins in 2008. These coins, backed by the U.S. government, can be sold for cash nearly anywhere in the world. Typically, the coin comes in 1-ounce ($50) denominations. However, 1/10 ounce ($5),1/4 ounce ($10) and 1/2 ounce ($25) versions are also available. These coins command a higher premium due to their lower mintage.