Palladium has become increasingly popular among both bullion and collectible coin enthusiasts in recent years. Many are probably less familiar with Palladium than other more common precious metals like Silver or Gold. Give this overview a glance to learn the basics of acquiring palladium for your collection!
One of the great things about the current precious metals market is the number of precious metals that are widely available. Gold, silver, platinum and palladium can be found quite readily. Here, we’ll take a closer look at palladium itself as well as some types of palladium coins and bullion.
Palladium is one of the Platinum Group Metals, or PGMs. You’re likely already familiar with some other members of this group such as platinum and rhodium. Palladium coins have become much more popular in recent years, but this is likely the result of some new palladium bullion coins coming to the market.
It shares numerous qualities with other members of the group. When in the form of bullion or a coin, it has an appealing color that is a bit of a mix between silver and white. Most palladium is used for industrial purposes, such as in catalytic converters, but this precious metal can also be found in some glucose test strips.
Compared to other types of bullion, palladium bullion is relatively scarce. There are palladium coins that are struck by sovereign Mints, and a few palladium products from private Mints. Credit Suisse bars are among the most readily available palladium bullion products from a private Mint.
Like platinum, palladium is also refined to a very high level of purity. Palladium coins and bullion bars are typically made of .9995 fine palladium.
The U.S. Mint recently began offering some palladium coins, most notably a Palladium American Eagle. There was the American Eagle 2018 one ounce proof palladium coin and the American Eagle 2019 one ounce reverse proof palladium coin. Palladium proof coins are still relatively scarce compared to gold or silver coins. Even the American Palladium Eagle coins had very low mintage limits set. These coins sold very quickly at the U.S. Mint and many collectors are still trying to acquire one for themselves.
The process of buying palladium is generally the same as buying other precious metals. Start by finding a reputable bullion dealer and then find some products that fit your goals and preferences. If you are planning to spend a large sum on palladium bullion, then pay extra attention to quantity discounts and payment methods. You’re likely to get the best deal by buying a single product in quantity and paying with that bullion dealer’s preferred payment method.
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