In 2006, the U.S. Mint introduced a second gold bullion coin to its collection. This coin, the American Gold Buffalo, was authorized by the Presidential $1 Coin Act of 2005 and became the Mint’s first coin made from .9999 fine gold. Much like the American Eagle Gold coin, which featured a classic design from the Mint’s history, the American Buffalo revived James Earle Fraser’s famous Buffalo Nickel design.
While new coin programs are not always successful, the Mint was optimistic about the Gold Buffalo due to the strong sales of a 2001 silver commemorative coin that also featured Fraser’s design, which sold out its 500,000 coin limit in just 15 days.
The first American Buffalo gold coins were produced at the West Point Mint on June 20, 2006, and were made available to buyers two days later. Interest in this new design exceeded that of the American Gold Eagle that year. For the 2006-W American Buffalo Gold Proof, the Mint set a cap at 250,000 coins. The final official mintage was 246,267 after accounting for returns.
Collecting the 2006-W American Buffalo Gold Proof
The 2006-W American Buffalo Gold Proof holds the highest mintage of any Proof coin in its series, making it a common date for collectors. It is frequently found for sale online, either in its original government packaging or as a certified coin.
When choosing between a raw (uncertified) coin and a certified one, both options have their advantages. Buying directly from the U.S. Mint or a reputable dealer makes raw coins a safe choice. Certified coins offer easier storage, a unique certification number, and guaranteed authenticity. However, counterfeit versions of the 2006-W American Buffalo Gold Proof exist in both raw and fake certified forms, so buyers should be cautious and verify authenticity.
Regarding coin grades, it’s unclear whether coins graded Proof 70 are more valuable than those graded 69. Certification numbers vary widely between grading services, and only about 20% of the total mintage has been graded so far, meaning more Proof 70 coins may be identified in the future. Well-maintained raw coins often can reach a Proof 70 quality.
2006-W American Gold Buffalo Proof Market Data and Notable Coins
Since November 2024, the number of PCGS PR70DCAM graded coins has increased slightly from 6,882 to 6,960, with CAC adding six certified coins during this period. Meanwhile, the population of NGC PF70UCAM coins has slightly decreased from 21,121 to 21,086, likely due to some coins being re-graded by other services.
Top populations as of November 2024 include:
- PCGS PR70DCAM: 6,960 coins
- NGC PF70UCAM: 21,086 coins
- CAC PR70DCAM: 74 coins
Recent market sales (2024-2025) have shown prices generally ranging between $3,000 to nearly $4,600 depending on grading and certification.
Design
Obverse:
Features a detailed portrait of a mature Native American man looking right, slightly off-center. He wears two feathers braided over his right ear. The date is raised on his shoulder, and an incuse “F” appears under the last digit of the date, representing Fraser’s signature. The word “LIBERTY” curves along the rim near his forehead and nose. The West Point mintmark “W” is located over the shoulder on the left side.
Reverse:
Depicts a full American buffalo standing facing left on a mound. The inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” appear above the buffalo, with “IN GOD WE TRUST” on the mound’s left side. Incuse lettering on the mound shows the coin’s face value of $50, its weight of 1 ounce, and its metal purity of .9999 fine gold.
Edge:
The coin features a reeded edge.
Coin Specifications
- Country: United States of America
- Year: 2006
- Denomination: $50 (USD)
- Mintmark: W (West Point)
- Mintage: 246,267
- Composition: .9999 Gold
- Weight: 31.11 grams
- Diameter: 32.70 mm
- Edge: Reeded
- Designers (Obverse & Reverse): James Earle Fraser
- Quality: Proof
FAQs
Q: What makes the 2006-W American Buffalo Gold Proof special?
A: It was the first .9999 fine gold coin from the U.S. Mint featuring the iconic Buffalo Nickel design, with a limited mintage making it popular among collectors.
Q: Should I buy a raw or certified American Buffalo Gold Proof coin?
A: Both are good options if bought from a reputable source. Certified coins offer guaranteed authenticity and easier storage, while raw coins are typically less expensive.
Q: How many 2006-W American Buffalo Gold Proof coins were made?
A: The official mintage was 246,267 coins.
Q: What is the significance of the “W” mintmark on this coin?
A: The “W” indicates the coin was minted at the West Point Mint, which produces many of the U.S. Mint’s special issue gold coins.