Gold and Christmas aren't necessarily synonymous. That is unless you factor in the story of the three wise men. They brought gifts of gold, frankincense and myrrh with them. I don't know much about the last two. I suppose back in the year "1," they were probably important staples and worth a pretty penny. Today, I don't think there's much call for them.

On the other hand, gold has been in continual favor and sought, fought and killed over since 2009 B.C. or so. For thousands of years, it's been the one constant wanted and needed for everything from ornamentation to industrial use. And add this to the mix: Every bit as much gold exists on or in the earth today as did 4,000 years ago. It can't be depleted powering a car or destroyed by the elements. It's the one metal know to be impervious to virtually everything, including acid. But today there are 100,000 times more people on the earth — and each one wants to own gold. The bottom line: Demand is way up and the supply remains the same.

Coronado came to America to find the "Lost City of Gold." He never found it, but the allure was enough for him to spend years in search of it. Pretty much all he found were American Indians and buffalo. Interestingly, those are the two icons on what is becoming one of the most sought-after gold coins currently being produced by the U.S. Mint.

The "American Buffalo" 1-ounce gold coin was introduced to the public several years ago. One of the immediate attractions is that each contains gold in a purity of .9999 or 24-karats. With that much pure gold in the coin, collectors and dealers quickly took notice.

They took notice of the design, too. The coin is almost identical to the buffalo nickel introduced in 1913 with an Indian on the face and a buffalo on the reverse. Because the Western U.S. was still considered wild and untamed, people were fascinated by the lore. To have images of the frontier on coins in pocket change was beyond intriguing.

Today, buffalo nickels continue to be a mainstay of both amateur and serious collectors. Most of them in circulated condition are worth only about $1 or $2 apiece. But, in top grade and depending on the date, a buffalo nickel can be purchased for as little as $50 or as much as $80,000. (The latter price is for a 1926-S nickel in very rare pristine/untouched condition.)

The American Buffalo gold coin falls toward the bottom half of those amounts. As I write this, the Mint is selling the proof, 1-ounce coin for $1,360. At the same time, the "spot" price of raw gold is $1,085. By tomorrow, that price could go up to $1,200 or fall to $1,000, depending on what happens with the world economy.

The important part is that dealers are just as eager as the general public to get their hands on these coins. Moreover, dealers can't buy them in bulk from the Mint, and the number of coins being issued will be limited. Evidence of the U.S. Mint being unable to supply endless quantities of gold coins is seen if you try to order any of the long-popular American Eagle gold coins. Right now — and for the past six months or so — the Mint has stopped selling them.

The American Buffalo is an exception to that — for now. When they'll no longer be available is unknown. What is known is that, a year ago, one could have been purchased from the Mint for $1,000. Gold has gone up, as has the Buffalo. Where gold will be this time next year — up or down — is anyone's guess.

For more information about the American Buffalo gold coin, check out the Mint's website at www.usmint.gov or their toll-free number 1-800-USA-MINT (872-6468). Given the limited number of coins to be issued, for contemporary wise men or women of means it might be worth consideration.

Editor's Note: A JPEG visual of the front and back of the 2009 proof American Buffalo coin has been sent with this column.

To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.