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Palladium records 15,000 sales

Buyers grabbed 15,000 one-ounce palladium bullion coins Sept. 25, the first day they became available.

This latest addition to the American bullion coin family could only be purchased by the Mint’s Authorized Purchasers.

However, they soon became available to collectors through the usual channels.

With palladium trading at $930.10 an ounce, APMEX would sell a single example for $1,070.09 on Sept. 27.

Quantity purchases of 100 or more saw the price dip to $1,050.09 per coin.

Bullion coins fluctuate in value along with the price of the underlying metal.

Also, APMEX expected to be able to ship the coins starting Oct. 6, according to the website.

But the Mint said before issue that once the supply it has on hand is gone, it’s gone.

The price Authorized Purchasers were charged included a 6.25 percent premium over the metallic value.

That is higher than the Mint charges for one ounce of gold, but lower than for one ounce of silver.

If you know the Mercury dime, you will instantly recognize the palladium Eagle obverse.

The reverse strongly resembles the Walking Liberty half dollar.

It is the work of the same artist, Adolph A. Weinman. It was used on his 1907 American Institute of Architects gold medal.

Face value of the new palladium coin is $25.

Next year, a proof collector version will be offered directly to collectors.

However, if you want the first year of issue, this bullion coin is it.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 

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