Fraser’s Buffalo With the Finish Turned Around
The Asahi Reverse Proof Buffalo is one troy ounce of .999 fine silver carrying James Earle Fraser’s Buffalo nickel designs, struck with a reverse proof finish: bright, mirrored designs set against a frosted background. Asahi Refining makes it, and our Specifications tab lists it as new.
What Reverse Proof Means
A conventional proof coin has polished, mirror-like fields with the design frosted on top of them. A reverse proof flips that. On this round the design is brilliant and the background is frosted, so Fraser’s portrait and the bison stand out bright against a matte field instead of sitting frosted on a mirror. It is the same design you see on other Buffalo rounds, with the light falling the other way.
Both Faces of the Buffalo Nickel
Fraser’s design first appeared on the US Buffalo nickel, struck from 1913 to 1938. One side of the round carries his Native American portrait facing right, with LIBERTY and the Asahi Refining mint mark. The other carries the American bison standing on a mound, with ONE TROY OUNCE above it and .999 SILVER below.
From Asahi Refining
Asahi Refining is an LBMA Good Delivery refiner with refineries in Salt Lake City and Brampton, Ontario, and it also operates an ISO 9001:2015 registered mint in Miami, Florida. This is a private round, so it carries no denomination and no government backing, and it trades on its silver rather than on the original nickel’s history.
Asahi Reverse Proof Buffalo 1 oz Silver Round Specifications
Each round holds one troy ounce of .999 fine silver and measures 39 mm across and 2.5 mm thick. Full current specs are on the Specifications tab above.
Asahi Reverse Proof Buffalo 1 oz Silver Round FAQ
What is the difference between proof and reverse proof?
A proof has a mirror background with a frosted design. A reverse proof has a frosted background with a mirror-bright design, which is what this round carries.
How do I keep the mirrored surfaces looking clean?
Hold the round by its edge. Mirrored areas show fingerprints and smudges easily, so a capsule makes sense for any round you plan to keep.
Is this a real Buffalo nickel?
No. It is a one-ounce silver round from Asahi Refining that reproduces Fraser’s designs. The original nickel was a five-cent coin struck from 1913 to 1938.
Is the Asahi Reverse Proof Buffalo IRA eligible?
Our Specifications tab and Asahi Refining both list it as IRA eligible. It still has to be held by the IRA’s trustee, and custodians keep their own lists of accepted products, so confirm with yours before you buy.
Who makes it?
Asahi Refining, the refiner that took over Johnson Matthey’s gold and silver refineries in Salt Lake City and Brampton. It also runs a registered mint in Miami.
Prefer a more traditional finish? Browse our full selection.
Ready to add Fraser’s Buffalo in reverse proof to your stack? Add the Asahi Reverse Proof Buffalo 1 oz Silver Round to your cart.


