This 1 oz coin is issued by the United States Mint, and is 99.99% pure gold (24 karat gold).
It was first issued in 2006. It was introduced to the market as it was believed American investors and collectors were looking for pure gold coins, and were buying 24k bullion coins like Austrian Gold Philharmonics, or the Canadian Gold Maple leaf in preference to the American Gold Eagle (which is 22 karat, or 91.67% gold).
Both sides of the 1oz American Gold Buffalo
The coin has a face value of $50, and features a Native American plus the date of issue on one side and a Bison on the other.
Demand for this bullion coin, which is not yet available in fractional sizes, has been very high, and the price tends to be higher than other 1oz gold coins, 24k or otherwise. Proof versions of the American Gold Buffalo are also available.