Two coins. Same mint. Same country. Same one ounce of actual gold inside.
One of them is 22 karat. One is 24 karat.
And roughly half the people who buy gold for an IRA pick based on that single number, which is a little like choosing a car based on the color of the engine block.
The American Gold Eagle and the American Gold Buffalo are both made by the United States Mint. Both are IRA eligible. Both contain exactly one troy ounce of gold when you buy the one ounce version.
So why does one of them cost more? And why do dealers steer you toward whichever one they happen to be holding?
Let us take this apart properly, because the real difference has almost nothing to do with karats.