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Grab These Gold Coins While You Can

October 30, 2009 by  

There’s a new kind of stampede taking place these days. This one is into Buffaloes. The new $50 American Buffalo gold coin from the U.S. Mint, that is.

It seems fitting that, at the very time we are seeing gold setting record highs almost every day, the U.S. Mint is releasing the 2009 American Buffalo gold coins. The strength of these magnificent creatures is certainly reflected in the purity of the gold each coin contains.

These spectacular coins became available for purchase just a few days ago and smart buyers are scooping them up as quickly as they can. The last time the Mint released any Buffalo coins they sold out quickly and the premiums in the aftermarket skyrocketed. We expect the same thing to happen again.

If the design of the $50 American Buffalo looks familiar to you, that’s because the Mint copied one of the most popular coins it ever created—the famous “Buffalo nickel,” which was first introduced in 1913. The designer was James Earle Fraser, a student of Augustus Saint-Gaudens—the man tapped by President Theodore Roosevelt to create new designs for America’s coinage.


For the famous buffalo on the reverse of the coin Fraser based his sculpture on Black Diamond, a powerful-looking bison and popular attraction at the New York Zoological Gardens.

Three different Native Americans posed for the obverse of the coin. Fraser said two of them were Chief Iron Tail of the Lakota Sioux and Chief Two Moons of the Cheyenne. He said he could never recall who the third man was.

American Buffalo gold coins were authorized by Congress in December 2005, by a bill that became known as the Presidential $1 Coin Act. The act specified that the coins be struck in .9999 fine 24-karat gold, making them the first “pure” gold coins ever issued by the U.S. Mint. (The American Eagle gold coins contain nearly 10 percent alloy and thus are 22-karat gold.)

Although the original “Buffalo” coins were worth five cents, the new American Buffalo gold coins carry a face value of $50, or 1,000 times higher. They are legal tender of the United States, so in the unlikely event that gold prices ever collapse you will be able to exchange your $50 gold Buffaloes for the equivalent amount of Federal Reserve notes.

We don’t expect that to ever happen, of course. What is far more likely is that the price of gold will continue to rise. And the premium on the $50 American Buffalo gold coins will also climb. We can’t promise that they will be a good investment. But that has been the case with every other Buffalo coin the U.S. Mint has produced.

The U.S. Dollar—Hazardous To Your Wealth

Ludwig von Mises, the father of the Austrian School of Economics, once said, "Government is the only agency which can take a useful commodity like paper, slap some ink on it, and make it totally worthless."

Until recently, many investors felt safe investing in the U.S. dollar. But as they’ve seen the purchasing power of the dollar fall, this has changed. Thanks to the government’s massive trade and budget deficits, wasteful spending practices, and gargantuan creation of new money and debt, cautious investors increasingly are looking for ways to protect their wealth.

For more than 6,000 years, nothing has protected wealth better than gold. When this country was founded an ounce of gold would buy you one of the finest suits available. That was true in the depths of the Great Depression. And it is still true today.

If I am correct that the U.S. government and the Federal Reserve will continue to flood the world with massive amounts of new “money”—virtually all of it created out of thin air—the purchasing power of the dollar will continue to fall. Simply put, it will take more diluted dollars to buy the same ounce of gold in the future.

I always like to own some gold as “wealth insurance” in case of a crisis. But in times like these, I also like to hold gold as an investment. Not in speculative, highly leveraged gold options, futures or even mining shares, but rather in the metal itself. I’m pleased to note that gold out-performed every other asset class—stocks, bonds, real estate, even other commodities—in 2008. I probably don’t need to remind you that 2008 was the worst year for most investors since the Great Depression. But not for those who had the protection of gold in their portfolios.

As our government works overtime to print more money and create more debt, I take pride in knowing that the U.S. Mint is producing something of beauty and of lasting value. No matter what current or future administrations do, the $50 American Buffalo gold coin will stand the test of time. Unlike paper money, which loses value while the ink is drying, the American Buffalo is .9999% pure gold. We know it will protect your purchasing power better than paper. Gold always has.

The $50 American Buffalo and other coins produced by the U.S. Mint can be purchased through a group of National Dealers registered with the Mint. I’m proud to say that my firm, Asset Strategies International, has been a member of that group since 1986. A list of all 21 National Dealers appears on the Mint’s website at www.usmint.gov/bullionretailer.

Many local coin dealers can also order American Buffaloes for you. Look under “coins” in your yellow pages for a list of stores near you. Before placing an order, ask what the availability is and what the premium will be. That’s the amount above that day’s spot price of gold you will be charged. Also, what shipping and insurance will cost. Then, go with the best deal from the most reliable dealer you can find.

If you want a well-recognized, 24-karat gold coin, the American Buffalo is a great choice. But don’t wait until limited supplies mean higher premiums. Get your American Buffaloes now and hang on for the ride!

—Michael Checkan

Dr. Michael Cutler

is a graduate of Brigham Young University, Tulane Medical School and Natividad Medical Center Family Practice Residency in Salinas, Calif. Dr. Cutler is a board-certified family physician with more than 19 years experience. He serves as a medical liaison to alternative and traditional practicing physicians. His practice focuses on an integrative solution to health problems. Dr. Cutler is a sought-after speaker and lecturer on experiencing optimum health through natural medicines and founder and editor of Easy Health Options™ newsletter — a leading health advisory service on natural healing therapies and nutrients.

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  • TeresaE

    Great info, but bad link to the list of bullion dealers.

    And all 1oz coins I can found, are sold out and valued over $1200.

    • libertytrain

      Teresa – hit refresh on the Personal Liberty site and click the link now – it’s working for me – I was curious as well.

  • http://None Joan Merriken

    How much would each $50.oo Buffalo Gold Coin cost? Also, how many must you buy?

    • Doug Blair

      Joan
      Go to the US Mint website. You can buy them direct. Current price is $1,360 per unit
      Doug

    • http://www.boblivingstonletter.com/ Bob Livingston

      As Michael wrote in his article, different dealers charge different premiums. So, the price of each coin is dependent upon the spot price of gold at the time of the transaction, plus whatever premium is charged by the dealer. That’s why it’s a good idea to shop around.
      Best Wishes,
      Bob

      • http://donthaveone Beberoni

        So if this is selling for 1360.00, my question is, is I have a coin at home that is .9999 pure silver, 1 troy ounce. How much is it worth, so that I can see the disparity between silver and gold?

  • s c

    First, what is the gold content? Second, why would I want this, as opposed to a coin that already has some age on it?
    Personally, I’d rather have bags of junk silver. I don’t trust ‘new’ coins minted by the government. When our government gets around to confiscating wealth on an individual basis, I wouldn’t be surprised if these coins are left alone. I can’t imagine that the government would consider them ‘worth having.’ It’s too convenient, and the timing stinks.

    • s c

      OK. I re-scanned the article, and went to the government web site. The coin is made of .9999 fine 24k gold.
      I have two points to make on the subject. Why, after all these years is this the FIRST solid gold coin to be minted by the government? Second, why would I now have a reason to have faith in the government, when it has been actively engaged in depressing the price of gold?
      This smells of post ipso facto convenience and a quick way for the government to have easy money pouring into its undeserving coffers. If it had a reputation for coining high gold-content coins for many years, I would have a reason to have faith in it.
      No, thanks, uncle scam. I’ll put my faith in coins that have age and scarcity going for them. For me to fork over money now would be like rewarding the government for doing its best to screw me out of my limited resources. A friend is a friend. The government is anything but my friend.

  • http://www.goldrarities.com goldguy

    The gold Buffalo proofs can be bought on the Mint web site for $1360

    The regular business strikes can be bought for between 5 and 8% over spot depending on quantity.

  • Robert

    I’m not buying anything until P.Gordon Liddy sanctions it. Are the US minted gold coins backed by the dollar? Think about it. The US Government in printing so much money that sooner or later inflation will set upon us. There’re spending more money than what they are taking in. Is this their new way to raise cash. And the gold they are selling is not theirs. It belongs to the American people. I didn’t give them permission to sell our gold. Did any of you?

  • tim k

    Please take the time right now to add impeachobama@impeachobamacampaign-news.com to your Contacts List, IT’S TIME TO STOP ALL THIS W/H + MOE/CZARS+++I LOVE AMERICA AND FREEDOM AND FREE ENTERPRISE/CONSTITUTION/ LOCK DOWN THE OPEN BORDERS… IT WILL TAKE ALL OF US TO DO THIS…

  • A.Merican

    Our Govt. has to stop spending money worse than a drunk sailor(no offense to sailors). All of the Bush hating Democrats are in for a big surprise when they finally realize what they have gotten. The only Presidential thing I have seen Obama do is go and meet the 6 dead soldiers coming home from Afghanistan. Maybe he will give them what they need to stop it now.

    • Dwight Carr

      I agree Obama needs to stop it. Don’t loose sight though that Bush should never have started it. Same song, different names… my friend.

      • http://PersonalLibertyDigest Carolyn

        In all the time of the Bush White House, Bush never did what this Obama dude is doing. The Obama Administration is taking our Country down..You all had better get used to that.. Bush is over, he kept us safe and believe me if Obama had what was thrown into Bush’s lap six months after being in office, he would fall flat on his face. He is a puppet and has no experience only that of a Chicago Thug…
        People need to listen, learn, and stay on top of what this Administration is doing. You need to be in contact with Washington every day…Letters are the best. Be heard now or enjoy what will be.
        Now back to the coins…:O)

    • s c

      A.Merican, most Bush-haters don’t have a clue. They don’t want one. Bush is no longer in the white house (WHY don’t ultralibs know that?). Most of them don’t want to know why they’re so screwed-up. To be fair, it’s easy to confuse constructive criticism with hatred. At the same time, most people don’t yet realize that the American people work for politicians. OUR POLITICIANS ARE SUPPOSED TO WORK FOR US!
      Conservatives could whiz and moan about 12 years of fdr, 4 years of carter, 8 years of bubba clinton and almost a year of comrade ‘make me prez of the world’ obama. To me, that’s 25 years of misery. Give me a president and a v p who preserve, protect and defend the Constitution. Give me people in Congress who don’t look at it as an easy career in a posh country club. Give me voters who have no use for party politics. Give us a country where integrity and common sense trump convenience, insanity and a prostituted ‘work
      ethic’ that promises money, power, protection and a lush retirement for those in congress and the white house who are willing to serve foreign masters – and do it without a conscience.
      Then, and only then, might we have a country that deserves to be free.

    • http://donthaveone Beberoni

      All the yelling the left did at Bush, and they are escalating it, and losing more lifes than ever. They have no intention of winning, and they want more casualties on our side, so they can continue to point the finger at Bush and blame him for everything, as that is all they have. It is in the lefts interest to fail in Afghanistan and let civil war overtake Iraq, so they can say look what a mess Bush caused, instead of staying the course and winning this effort. When you have nothing to offer, you have to do things to make the other guy look bad, because you cant do anything to make yourself look good. That is truly what we are dealing with here.

  • John White

    Folks, I am enjoying reading all the comments and am learning at least what questions to form to get educated about buying precious metals. My brother and I have already purchased some Canadian Silver Leaf coins and are seriously thinking about putting some more money into precious metals because of the situation with the American Dollar thanks to many fine American politicians and Wall St. people.

    So please keep writing comments telling what you know or think about this investment so I can continue to learn.

    Obama Administration, I doubt I would have enough space to write my comments concerning them here and this isn’t exactly the right forum but I will say this:

    Carolyn above said: People need to listen, learn, and stay on top of what this Administration is doing. You need to be in contact with Washington every day…Letters are the best. Be heard now or enjoy what will be. She is absolutely correct. Also, tune into FOX News every day and listen to Glenn Beck, Hannity and Bill.

    My greatest fears are losing our soverignty, freedoms and becoming, Socialist, Marxist or Communist. I want no part of a one world government and certainly do not want our military taking orders from people of other nations via the worthless UN whose philosophy is entirely opposed to our beliefs and constitution. There are too many foreigners who come to America not to join our culture but to change it.

    Also folks as grown ups we now know that party affiliation means zip. Our problem in America is corruption and loss of morals throughout our entire citizenry. Hardly any honest man would want to be in any public office only those who are greedy and have a craving for power.

    I’m not a racist, I am in a mixed marriage myself. I am a white boy,( age 65 ) married to a Filipino Asian ) who is the most Godly person I know and is extremely educated always seeking more degrees and working hard with a great team attitude. Having said all that, I think those in America who voted for Mr Obama simply because of his race did our country a great disservice whether they are black, white or some other color or shade of a color. Never would I vote for someone simply because they are caucasian or any particular gender. I look for character, itegrity, past voting records and morality. Experience with the duties expected of the office wouldn’t hurt either.

    Please get involved in YOUR country. God Help & God Bless America!

    John

    • http://donthaveone Beberoni

      I agree. Judge a man by the content of his character, not by the color of his skin. 95 percent of a certain color voted for this guy of the same color. Quite a racist statement Id say.

      • s c

        Beberoni, I’d like to have a gold coin for every dead voter who voted for comrade obama – regardless of their skin color. I sure would like to know how it is that dead people can be such reliable, hardcore voters.
        It’s bad enough that death and taxes are seen as inevitable. I refuse to believe that God approves of (let alone ‘blesses’) the idea of dead voters – regardless of the airhead to gets all those ‘easy’ votes.
        When can I look forward to getting my gold coins? If career criminals who infest Washington can count on easy votes from the dead, then I deserve some gold coins for appreciating what’s really going on in the name of historic restructuring, leadership, integrity, openness, hope and change.

  • Cantrell

    One World Government is exactly where we are headed. Keep your eyes on the Summit Meeting scheduled for Copenhagen next month. According to Lord Christopher Monckton who was Policy Adviser to Margaret Thatcher, all the world leaders (including Obama) will be meeting to discuss a One World Government. They are set to sign a treaty to replace the Kyoto Treaty. According to Lord Monckton, “Global Warming” will be the excuse they give to sign this new treaty. According to many of our leaders (which I say loosely) on the left; and I quote, “Never let a good crisis go to waste”. I think we would all agree that our country is in an economic crisis. One world currency, and one world government is inevitable.

    • Robert Wayne

      These one world govt. scumbags are spoken of in the Bible. And I honestly think we’re in the end times. As for the debate on gold and precious metals, I think it’s the only way to go right now. Obama is more of an enemy than even Germany and Japan were during WWII and he and whoever is pulling his strings are intentionally destroying the currency and the financial system of this country as another step towards martial law, the end of free elections and ultimately a one world govt.

  • Flextex

    Nothing is inevitable. Vote the Progressives out. Support those who support our Constitution. No country on earth has come as far in personal freedom as we have with our Contitution and Bill of Rights. Respect them and guard them!

  • Joe Berger

    You can’t vote someone OUT unless there’s someone you can vote FOR who will do what you want. Unfortunately, there’s no “None of the Above” checkbox to vote FOR kicking everyone out, without naming a successor. And that successor, because of our election process requiring bazillions of dollars, will be from one of a VERY few parties – ALL OF WHOM are corrupted by the system. Democrat, Republican, Libertarian, or independent, by the time someone reaches a national office election, they are totally compromised by the requirement to raise so much cash to GET there, that they will forever pay back their investors instead of voting FOR the people. We need to start by a referendum to put “None of the Above” on all ballots – and demand new elections and personnel if it wins.

  • http://sioux-fallshotels.com Georgia Zwerschke

    Well written article. Anxiously anticipating more.

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