One great collectible coin is the Buffalo Silver Dollar.
Although it is a comparatively recent release, it is highly prized with prices
rising well over its original selling price. This is not just because of the
coin’s undeniable beauty. The coin is also a significant symbol and was minted
for a good cause.
History
In 2000, the American Buffalo Coin Commemorative Coin Act was made possible.
President Bill Clinton affixed his signature to the law that authorized the
production of the Buffalo dollar. The coin however is truly more than just a
wonderful piece to add to a collection. It was intended to commemorate the
beginning of the Smithsonian National Museum of the American Indian. Aside from
being a commemorative coin, its minting and sales also benefited the museum.
Part of the coin sales were used for the 2004 opening of the museum. Indeed,
there was no better way to honor the American Indian heritage.
Design
The Buffalo Silver Dollar design bears an old design. It carries the original
design of James Earle Fraser. It was originally a design that graced nickels
from 1913-1938. The buffalo is on the reverse side together with the marks, “One
Dollar,” “E Pluribus Unum,” “United States of America,” and “In God We Trust.”
Underneath the “One Dollar” print is its mint mark. “D” stands for Denver,
Colorado.
On the other side of the coin is a profile of a male American Indian.
According to official accounts, the image is the actual combined profile of
three Indian chiefs. The chiefs sat for Fraser as he created the coin profile.
“Liberty” and the date 2001 are printed on the Buffalo Silver Dollar face. A
small letter F for “Fraser” can be found below the date.
Other Details
The release of the Buffalo dollar has been nothing short of amazing. It was
offered to the public in June of 2001. In just two weeks, the 500,000 coins had
become out of stock. From the original values of $30 for the uncirculated coin
and $33 for the proof, the current price of the coins sold by collectors is said
to be over the hundred dollar mark.
Like many other collectible pieces, there may be counterfeits around. One can
never be too careful when considering a piece for your collection. An original
Buffalo Silver Dollar is 90% silver and 10% copper. It weighs 26.73 g and has a
diameter of 39.62 mm.
Buying Carefully
Since the coins have been sold out, collectors can buy from other collectors.
This is where you are most at risk of buying a fake. Before you decide to jump
on a Buffalo coin, always ask for a certificate of authenticity. Be sure too to
check all of the coin’s markings. An authentic Buffalo dollar is highly detailed
but it also has simpler features than other dollar types. This can make it
easier for you to ensure that all features are in place. Take extra care too on
knowing more about your seller before you decide to buy from him.
Owning a Buffalo Silver Dollar is really like owning a part of culture and
history. Be sure that you know your coin though. You only want to have an
authentic Buffalo.
