In 2006 the 1 oz $50 American Gold Buffalo Coin was released and became an instant success. It was the first time ever that the U.S. Government has minted a pure (.9999) 24-Karat gold bullion coin made available to the public.
The design is a modified version of the 1913 (Type 1) Indian Head Nickel. The obverse side depicts a Native American while on the reverse side stands an American Bison, commonly referred to as a Buffalo.
The 1 oz coin has a legal tender, or face value, of $50, although the actual gold value far surpasses it.
On the reverse side, the area where the original nickel had the words "Five Cents", has been changed to $50 1 oz .9999 Fine Gold.
Also, the motto "In God We Trust" can be found on the reverse side, to the left of, and beneath the head of the buffalo.
The 2006 and 2007 coins have been issued in only a one-ounce version, but in 2008, $5, $10, and $25 face value coins were minted with 1/10 oz, 1/4 oz, and 1/2 oz of gold respectively.