The American Buffalo, also known as a gold buffalo, is a 24-karat bullion coin first offered for sale by the United States Mint on June 22, 2006, and available for shipment beginning on July 13. The coin follows the design of the Indian Head nickel and has gained its nickname from the American Bison on the reverse side of the design. This was the first time ever that the United States Government has minted pure (.9999) 24-karat gold coins for the public. The coin has a legal tender (face) value of US$50.
In addition to requiring a presidential dollar coin series to begin in 2007 and redesigning the cent in 2009, the Presidential $1 Coin Act of 2005 mandated the production of a one-ounce 24-karat gold bullion coin with a face value of $50 and a mintage limit of up to 300,000 coins.
Pros: Popular US .9999 Pure Gold Bullion Coin and the only one minted in US History.
Cons: Softer than the Gold Eagle, which also has other metals added to the pure gold to make it better for circulation. Store it in coin sleeves or tubes to avoid scuffs and scratches.
Recommendation: Much of the numismatic enthusiasm has worn off. Buy in BU condition, not for collector value. Would be subject to confiscation if such an event were to occur in the US.