By Charles Morgan and Hubert Walker for CoinWeek Notes …..
In 2006, the U.S. Mint introduced a new gold bullion coin, expanding its precious metals collection. This coin, known as the American Gold Buffalo, was created under the authority of the Presidential $1 Coin Act of 2005. It marked the Mint’s first gold coin made of .9999 fine gold. Much like the American Gold Eagle, which reused a classic design from the Mint’s history, the Gold Buffalo featured James Earle Fraser’s famous design from the Buffalo Nickel.
Although new coin programs don’t always succeed, the Mint had strong indications this one would do well. A previous silver commemorative coin from 2001, also showcasing Fraser’s artwork, quickly sold out its entire mintage of 500,000 within just 15 days.
The first Gold Buffalo coins were struck on June 20, 2006, at the West Point Mint and went on sale two days later, on June 22. Interest in this new coin exceeded that of the 2006 American Gold Eagle. The Mint capped the mintage for the 2006-W American Buffalo Gold Proof at 250,000, with a final distributed mintage of 246,267 after returns.
Collecting the 2006-W American Buffalo Gold Proof
Among all the Proof coins in this series, the 2006-W issue has the highest mintage, making it the most widely available. Collectors can often find this coin sold online, either in its original U.S. Mint packaging or certified by major grading services.
When choosing between a raw or certified coin, both have their advantages. A raw coin from a trusted source, like the Mint or a reputable dealer, is usually a safe purchase. However, certified coins offer benefits like secure packaging, verified authenticity, and easier storage. It’s important to note that counterfeit versions exist — both as loose coins and fake graded slabs — so buyers should be cautious and ensure their source is reliable.
Regarding the difference in value between Proof 69 and Proof 70 graded coins, opinions vary. There is a wide variation in how many of each grade are recorded by PCGS and NGC. Only about 20% of all minted coins have been graded, so the number of Proof 70 coins is expected to grow over time. It’s a good idea to assume a well-kept raw coin could achieve a Proof 70 grade and price it accordingly.
2006-W American Gold Buffalo Proof Market Data and Noteworthy Specimens
Since November 2024, the population of PCGS PR70DCAM examples has increased from 6,882 to 6,960. CAC has also added six coins during this time. Conversely, NGC’s PF70UCAM population decreased slightly from 21,121 to 21,086, possibly due to coins crossing over to other grading services.
Top Population Figures (as of November 2024):
- PCGS PR70DCAM: 6,960
- NGC PF70UCAM: 21,086
- CAC PR70DCAM: 74
Recent eBay Sales for PF70/PR70 Coins:
- NGC PF70UCAM: May 8, 2025 – $3,800 (10 bids, Anna Babral label)
- PCGS PR70DCAM: April 30, 2025 – $3,803.49 (Buy It Now)
- PCGS PR70DCAM: April 26, 2025 – $3,950 (Buy It Now)
- PCGS PR70DCAM: March 30, 2025 – $4,598 (Buy It Now)
- NGC PF70UCAM: March 30, 2025 – $3,800 (Buy It Now)
- PCGS PR70DCAM: October 24, 2024 – $3,295
- NGC PF70UCAM: October 21, 2024 – $3,190 (Mike Castle label)
- NGC PF70UCAM: October 18, 2024 – $3,080 (Rhett Jeppson label)
- NGC PF70UCAM: October 15, 2024 – $2,970 and $3,080
- NGC PF70UCAM: October 12, 2024 – $2,855
- PCGS PR70DCAM: September 30, 2024 – $3,400 (Ed Moy label)
Design
Obverse:
The front side of the coin features a detailed right-facing profile of a Native American man. He has two feathers woven into a braid above his right ear. The date appears on his shoulder, and the letter “F” — representing designer James Earle Fraser — is engraved just below the final digit of the date. The word “LIBERTY” curves around the right edge, and the “W” mintmark for West Point is positioned over the left shoulder.
Reverse:
The back of the coin shows a full-body image of an American buffalo standing on a patch of ground. Above the buffalo are the inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM.” To the left of the buffalo, the motto “IN GOD WE TRUST” is engraved. Beneath the animal, incuse inscriptions show the face value “$50”, the weight “1 OZ”, and the metal’s purity “.9999 FINE GOLD.”
Edge:
The 2006-W American Buffalo Gold Proof has a reeded edge.
Coin Specifications
- Country: United States
- Year: 2006
- Face Value: $50 USD
- Mintmark: W (West Point)
- Mintage: 246,267
- Metal: .9999 Fine Gold
- Weight: 31.11 grams
- Diameter: 32.70 mm
- Edge: Reeded
- Obverse Designer: James Earle Fraser
- Reverse Designer: James Earle Fraser
- Finish: Proof
FAQs
What is the gold content of the 2006-W American Buffalo Proof coin?
The coin contains 1 troy ounce of .9999 (24-karat) fine gold, making it the first U.S. Mint coin of this purity.
Is the 2006-W American Gold Buffalo a good investment?
It is popular among collectors due to its historical design and high gold purity. While not guaranteed to appreciate in value, it has strong demand in the numismatic market.
How can I tell if my coin is authentic?
To avoid counterfeits, purchase only from reputable dealers or ensure the coin is graded by PCGS, NGC, or another trusted service. Look for clear certification numbers and check for secure packaging.
What does the “W” mintmark on the coin mean?
The “W” mintmark indicates that the coin was minted at the West Point Mint in New York.
