2006-W American Gold Buffalo Proof : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
In 2006, the United States Mint added a second gold bullion coin to its precious metals portfolio. Authorized by the Presidential $1 Coin Act of 2005 (PDF link), the American Gold Buffalo was the Mint’s first .9999 fine gold coin. Just as the American Eagle Gold coin adapted a venerated design from the Mint’s past, the American Buffalo brought back James Earle Fraser’s iconic Buffalo Nickel design.

While no new program is guaranteed to succeed, the Mint had reasons to believe that the Gold Buffalo would be well received after a 2001 silver commemorative coin bearing Fraser’s work sold out of its authorized 500,000 coin mintage in just 15 days.

The first American Buffalo gold coins rolled off the press on June 20, 2006, at the West Point Mint and were available for purchase on June 22. Demand for the new design was markedly higher than demand for that year’s American Gold Eagle. For the 2006-W American Buffalo Gold Proof, the Mint set a mintage limit of 250,000. The final mintage of 246,267 represents that total minus returns.

Collecting the 2006-W American Buffalo Gold Proof

To date, the 2006-W American Buffalo Gold Proof has the highest mintage of any Proof issue in the series and should be considered a common date. The coin is frequently offered for sale in online auctions in its original government packaging or as a certified coin.

Should one buy a raw or certified coin? There are benefits exclusive to both, and so long as the first point of purchase is the U.S. Mint or a nationally known dealer, the raw version is perfectly acceptable. A benefit to the certified version is the streamlined storage capability of the coin holder, the trackable certification number, and the guarantee of authenticity. Counterfeit 2006-W American Buffalo Gold Proof coins exist in raw and “fake” slab form. Exercise due diligence before making any purchase.

As to whether Proof 70 coins carry better financial upside than 69s, we are less certain. The grade distribution of 69/70 at NGC and PCGS is wildly divergent, and as the services have certified only 20% of the total mintage, the number of 70s is certain to increase (maybe even double) in coming years. Assume any well-cared-for raw coin is a shot 70 and price accordingly.

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2006-W American Gold Buffalo Proof Market Data and Noteworthy Specimens

The PCGS PR70DCAM population has increased from 6,882 to 6,960 since November 2024, while CAC has added six coins to their tally. Over the course of the same period, the NGC population of PF70UCAM coins has declined from 21,121 to 21,086, probably due to crossovers to other services.

Top Population: PCGS PR70DCAM (6,960, 11/2024), NGC PF70UCAM (21,086, 11/2024), and CAC PR70DCAM (74, 11/2024).

• NGC PF70UCAM: eBay, May 8, 2025 – $3,800. 10 Bids. Anna Babral signature label.
• PCGS PR70DCAM: eBay, April 30, 2025 – $3,803.49. Buy It Now.
• PCGS PR70DCAM: eBay, April 26, 2025 – $3,950. Buy It Now.
• PCGS PR70DCAM: eBay, March 30, 2025 – $4,598. Buy It Now.
• NGC PF70UCAM: eBay, March 30, 2025 – $3,800. Buy It Now.
• PCGS PR70DCAM: eBay, October 24, 2024 – $3,295.
• NGC PF70UCAM: eBay, October 21, 2024 – $3,190. Mike Castle signature label.
• NGC PF70UCAM: eBay, October 18, 2024 – $3,080. Rhett Jeppson signature label.
• NGC PF70UCAM: eBay, October 15, 2024 – $2,970.
• NGC PF70UCAM: eBay, October 15, 2024 – $3,080.
• NGC PF70UCAM: eBay, October 12, 2024 – $2,855.
• PCGS PR70DCAM: eBay, September 30, 2024 – $3,400. Ed Moy signature label.

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Design

Obverse:

A realistic portrait of a mature Native American male faces to the right and is slightly offset to the left. The figure wears two feathers in his hair, fixed in a braid over his right ear. The date is raised and positioned on the shoulder. An incuse letter F for Fraser’s last name appears below the final numeral of the date. In the field to the right of the figure’s forehead and nose, wrapping inside the rim, is the word LIBERTY. The W mintmark of the West Point Mint is located over the Indian’s shoulder in the lower left obverse field.

Reverse:

A full figure of an American buffalo faces to the left. The animal is depicted standing on the ground. The legend UNITED STATES OF AMERICA and the motto E PLURIBUS UNUM are artfully placed over the buffalo, with the motto IN GOD WE TRUST positioned above the ground to the left. Written in incuse lettering on the mound is the face value $50, the coin’s weight 1 OZ, and metal fineness .9999 FINE GOLD.

Edge:

The edge of the 2006-W American Gold Buffalo Proof is reeded.

Coin Specifications

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