2006-W American Gold Buffalo Proof: A Valuable Coin for Collectors

The 2006-W American Gold Buffalo Proof coin is a significant addition to the United States Mint’s collection. Released under the Presidential $1 Coin Act of 2005, it was the Mint’s first .9999 fine gold coin and quickly became a popular choice among collectors. The coin features an iconic design by James Earle Fraser, originally used on the Buffalo Nickel. Let’s explore what makes this coin special and valuable for collectors.

History of the 2006-W American Gold Buffalo Proof

In 2006, the U.S. Mint introduced a second gold bullion coin to its collection, following the success of the American Gold Eagle. This new coin, the American Gold Buffalo, was the first to be made from .9999 pure gold. The Mint used James Earle Fraser’s famous Buffalo Nickel design, which was originally created in 1913. With the popularity of a silver version of the design in 2001, the Mint expected high demand, and the Gold Buffalo did not disappoint.

The first American Gold Buffalo coins were struck at the West Point Mint in June 2006. A total of 246,267 coins were produced, making it the most minted Proof coin in the series. These coins were available for purchase starting in June, and they sold out quickly.

Collecting the 2006-W American Gold Buffalo Proof

For collectors, the 2006-W American Gold Buffalo Proof is considered one of the more common coins in the series, especially due to its higher mintage compared to other years. It is frequently found for sale through auctions, in original government packaging or as certified coins.

When it comes to buying one, collectors have two options: raw (uncertified) or certified coins. Certified coins are graded for quality and authenticity, and they come in special holders that help protect them. While raw coins are often acceptable for collectors who are familiar with the process, certified coins are better for those looking to avoid counterfeit issues.

A coin’s grade can impact its value, with higher grades (like Proof 70) being more valuable than lower grades (such as Proof 69). Some collectors wonder if owning a Proof 70 coin has better financial benefits, but the supply of these high-grade coins is expected to increase over time.

Design of the 2006-W American Gold Buffalo Proof

Obverse (Front):
The front (obverse) of the coin features a portrait of a Native American man, facing right, with two feathers in his hair. The inscription “LIBERTY” wraps around the figure’s forehead, and the coin’s mint year is placed on his shoulder. The “W” mintmark of the West Point Mint appears below his shoulder.

Reverse (Back):
On the back (reverse), there is an image of a full American buffalo standing on the ground. Above the buffalo, the words “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” are written. The coin’s face value of $50, its weight (1 oz), and metal fineness (.9999 fine gold) are also marked.

Edge:
The edge of the 2006-W American Gold Buffalo Proof is reeded, providing a distinctive touch.

2006-W American Gold Buffalo Proof Coin Specifications

2006-W American Gold Buffalo Proof Market and Pricing

As of November 2024, the most expensive versions of the coin are those graded at the highest quality, with prices reaching over $3,000 for coins graded Proof 70. These top-grade coins are rarer and thus command higher prices. For collectors interested in purchasing a 2006-W American Gold Buffalo, it’s essential to choose a reputable dealer or auction site and verify the authenticity and condition of the coin.

Here is a summary of recent market data for high-grade 2006-W American Gold Buffalo Proof coins:

Conclusion

The 2006-W American Gold Buffalo Proof is a must-have for serious coin collectors. With its high purity of .9999 gold and the stunning design based on the famous Buffalo Nickel, it has proven to be a popular coin in the U.S. Mint’s history. Whether you’re looking to invest in high-grade coins or start a collection, this coin offers great value and historical significance.

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