The American Gold Buffalo coin, also called the Gold Buffalo, is the first 24 karat gold coin produced by the U.S. Mint. Production on the coin began in 2006, and has been issued annually since. The coin was put in place by the U.S. Government following the passage of the Presidential $1 Coin Act of 2005, and was created to compete against other 24 karat gold coins produced at mints around the world. Sales of American Gold Buffalo coins were temporarily paused in 2008, as the Mint could not keep up with the demand for the coins. The American Gold Buffalo coin is quite popular amongst investors and collectors for its gold content, purity, design, and value.