1oz Buffalo gold coin - The US Mint.
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The American Buffalo is an official gold bullion coin of the United States. As legal tender, their weight and purity are guaranteed by the United States Government. It was first released by the United States Mint on December 22, 2005. It is struck only in the one-troy ounce size, which has a nominal face value of $50 and is guaranteed to contain one troy ounce of 99.99% pure gold (= 24 carat).
Typically, US gold coins (eagles) are composed of 91.67% gold which incur GST because they are not 24 carat. The Buffaloes came as a response to the issue of investors seeking a pure gold US coin.
The American Buffalo Gold Coin's obverse and reverse designs feature images by noted American sculptor James Earle Fraser for America's five-cent coin. That popular coin, known as the "Indian Head," or "Buffalo Nickel," was introduced in 1913 and showcases the native beauty of the American West.
Coins are a popular choice of bullion given their legal tender status (Government backing of the coin and its metal content), often smaller in size (making for easier disposal in the event of large price increases), international recognition (no fuss tradability overseas) and portability. Another common advantage is mintage limits on many government minted coins meaning a “collectible” premium can often be realised. Caution should be exercised in buying coins over bars for your Super as they can be classified as a collectible and need special storage / insurance requirements. Refer to the ATO or your advisor for more information.