The 2001-P American Buffalo Silver Dollar is an ultra-rare Investment Grade silver coin minted by the U.S. Mint. The coin is graded and certified in perfect Proof 70 condition.
The Silver American Buffalo Proof coin was minted in 2001 only, at the Philadelphia Mint, and bears the P mint mark on the reverse. It was released to commemorate and raise funds for the Smithsonian National Museum of the American Indian. The coin sold out at the U.S. Mint in a short period of time and was never minted again. A Mint State version of the coin was produced the same year, and can easily be distinguished by its matte finish and D (Denver) mint mark.
Commemorative coins are authorized by Congress to celebrate and honor American people, places, events, and institutions. Although these coins are legal tender, they are not minted for general circulation.
The coin design is inspired by the original Buffalo Nickel, created by James Earle Fraser. The front, obverse, features the 1913 profile of The Three Chieftains, a portrait said to be based on three separate Indian chiefs. The reverse features the traditional bison-on-mound design, believed to be based on a male buffalo that Fraser frequently visited, named Black Diamond, that was housed at the Central Park Zoo in New York City, where he died in December 1915. The reverse also has the motto "In God We Trust," a more modern element that did not appear on the original coin.
This coin was sold by the U.S. Mint in 2001 for the pre-issue price of just $33. There were 272,869 of them minted but only about 1,600 of the coins have been certified in perfect Proof 70 condition by NGC. With all of these wonderful features and the rich history associated with it, the 2001 American Buffalo Silver Dollar proof coin has become a favorite for both investors and collectors. The Proof 70 designation ensures the coin is among the best of the best ever to be minted.