The American Gold Buffalo is the first 24-karat (0.9999 fine) gold coin ever made by the U.S. Mint. James Earle Fraser created the original design, an homage to the U.S. Buffalo and Indian Head Nickel. In accordance with U.S. law, the gold for these beautiful coins must originate from newly mined sources within the nation’s borders. All of the American Gold Buffalo bullion coins are struck at the U.S. Mint at West Point, New York. These coins, backed by the U.S. government, can be sold for cash nearly anywhere in the world. Although the coin is official U.S. legal tender, 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. The American Gold Buffalo is typically found in 1-ounce ($50) denominations. However, there are ¼-ounce ($10) and ½-ounce ($25) bullion coins, which command a premium price because of their lower mintage.