White precious metals are certainly seeing a rise over the last decade, as their lustrous color is sought after more and more for jewelry, as well as investing and other uses. One such silvery white metal that is gaining in popularity is palladium.
This steel white metal was discovered in the year 1803, which may be a shocking fact to those believing it is a fairly new precious metal. It is fairly new on the coin investing scene; the first coins made from it were issued in 1966 in Sierra Leone. Now coins have been issued by many countries including China, Russia, Slovakia, Australia, France and more. Most of these coins have not been issued as legal tender, however. The Royal Canadian Mint has changed that by issuing palladium Maple Leaf coins in 2005 to the year 2007 and then again in 2009. These coins all contained one troy ounce of this white metal. Canada also issued Canadian Big Bear and Little Bear Constellation coins made of this precious metal.
What about America? Fans of Pd (the metal’s chemical symbol) will be happy to hear that America is looking in to making these coins as well. The United States Mint is currently doing a coin market study to see how high the interest is in buying coins made from this precious metal. If the reports are favorable then collectors may very well be seeing palladium versions of the American Eagle coins. If they are made, the coins will be .9995% fine and sold in one-ounce size in bullion, proof and uncirculated varieties. All of the precious metal for these coins will be mined in America, which will all come from the state of Montana, since it is currently the only place in the United States that mines the metal.
Are you anxious to get your hands on some of these coins? The studies are claimed to be under way, but there is still no concrete word on if the response has been favorable and what the demand is expected to be, meaning there is no guarantee these coins will ever see production as of yet. If approved, it is speculated they won’t be ready for release until at least late 2012. In the mean time, you palladium collectors and investors will have to make do with the Canadian Maple Leaf coins and the like. Keep your ear to the ground for more news on Pd coins coming from America and other countries in the near future.