1st pure-gold coin in U.S. to resemble buffalo nickel

The U.S. Mint will start taking orders in the coming week for the coins. Officials believe they have found a winning combination that will appeal to nostalgia buffs and investors.

The coin will be slightly larger and thicker than a Kennedy half dollar, will contain 1 ounce of gold and will be designated a $50 gold piece. The actual price will depend on the market price of an ounce of gold, plus markups.

The design is a replica of the popular buffalo nickel that was minted from 1913 to 1938. The coin has a buffalo standing on a grassy mound on one side and an Indian chief on the other side, duplicating the images created by famed artist James Earle Fraser for the 1913 nickel.

"Many people will recall getting a nickel with the Indian head and the buffalo. It is really a beautiful design and evokes wonderful images," said the deputy director of the Mint, David Lebryk.

The buffalo without the Indian chief made a brief comeback on the nickel last year as one of the designs used to commemorate the 200th anniversary of the Lewis and Clark expedition.

Mint officials are hoping the new American Buffalo gold coin will be a hit not only in this country but with investors around the world.

The government already produces a 22-karat American Eagle gold coin. This is the first time the Mint has produced a 24-karat coin, a designation that means the coin contains 99.99 percent gold as opposed to 91.67 percent gold content in the 22-karat coins.

Global investors in the past few years have turned to the purer gold coin, making up about 60 percent of the market. .

The Mint will sell two versions of the coin: a bullion coin, designed for investors, and a proof coin, aimed at collectors.

● Collectors can buy the proof coins directly from the Mint starting Thursday by going to the Mint's Web site — www.usmint.gov — or by calling 1-800-USA-Mint.

The site will also have a listing of local dealers who will be selling the coins.