The Silver Buffalo: The Silver Buffalo is awarded by the National Council of the Boy Scouts of America for distinguished service to youth. The first awards were made in 1926. Baden-Powell received the first Silver Buffalo as Founder of the World Scouting Movement. The second Silver Buffalo was awarded to the Unknown Scout whose "Good Turn" to Chicago publisher William D. Boyce in London helped bring Scouting to America.
Some further research brings into question the date of the photo and the relative ages of Beard and B-P. It seems more than likely that this photo was taken on the occasion of the original presentation of the Silver Buffalo to both men in 1926. That would put Beard’s age at about 75, and B-P at about age 69.
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