The palladium coin is a very popular collector’s item, though there are not a lot of coins available—not like gold or silver specimens. The metal itself is not a highly investable metal, but associated with industry, such as in catalytic converters. Palladium is a silver-like metal (slightly white) and from the platinum family.
Nevertheless, it has already been used as currency. The first coins ever made of the metal date back to the year 1966 in Sierra Leone, and later in Tonga. Though a rare collectable, you can still find coins in this metal from countries like Canada, France, Russia, Australia and China. Of course, mintages are still relatively rare. However, a palladium coin may very well be in the works—and for United States-based collectors. In fact, there has already been a bill approved for the U.S. Mint to consider making these coins.
After research concludes, which investigates the profitability of such a coin, (which everyone is fairly sure will be positive) the coin will be minted. The law was passed on December 14, 2010. If and when the coin is made available, we already have a glimpse of what it will contain. It will be the classic American Eagle coin in a palladium metal. Just think, you could have an American Eagle in gold, silver, platinum and palladium!
The American Eagle series features a picture of Lady Liberty as well as an eagle on the reverse side. However, some versions of the platinum coin actually featured different reverse side images, such as scenes of eagles and the legislative muse.
There has already been a palladium coin made available in Canada; this is the Royal Canadian Mint’s Maple Leaf series, and it was made from 99.95% pure metal. The coin featured a maple leaf image as well as visual of Queen Elizabeth II. In general, it is a good idea to diversify your assets, not just in various avenues, but even within coins. There’s no reason not to bank on all metals, such as gold and silver and platinum, since they are all ultimately very valuable for different reasons.
What do you think? Would you be interested in buying an American Eagle coin if the price was right? It won’t be as expensive as gold, but it will be high quality, pricey metal, so expect it to be in excess of $700, (depending on the bullion price).
Talk to a coin dealer about preordering arrangements or perhaps other coins from around the world made in your new favorite metal!