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The New Palladium Proof Eagle

The New Palladium Proof Eagle
Category: Articles
Posted: 09-21-2018 11:42:00 AM

Without a doubt, one of this year’s numismatic highlights was the release of the newest addition to the menu of offerings from the U.S. Mint, the American Palladium Eagle coin; read further to find out why on ModernCoinMart.com. 

 

American Palladium Eagle Coins

Without a doubt, one of this year’s numismatic highlights was the release of the newest addition to the menu of offerings from the U.S. Mint, the American Palladium Eagle coin. It is the second ever issue in the series. Famously, the entire 15,000 coin mintage sold out at the Mint in less than 5 minutes. The Palladium Eagle is the official palladium coin of the United States. At this point, the popular series consists of two issues: the 2017 bullion strike and the 2018 proof finished coin which bears the iconic “W” mint mark, indicating that it was struck at the West Point U.S. Branch Mint and Bullion Depository. Each coin has a face value of $25 and contains 1 oz. of  99.95% pure palladium. The series was authorized by the American Eagle Palladium Bullion Coin Act of 2010.

The designs used on the Palladium Eagle were originally crafted by famous American artist, Adolph A. Weinman. The obverse of the series uses the timeless Winged Liberty Head or “Mercury” dime design. The left-facing profile of Liberty is shown as she wears a winged Phrygian cap. The hat is a long-standing symbol of Freedom used hisroticallyon coins from France and various South and Central American countries in addition to the United States. The curious addition of the wings was meant to symbolize “freedom of thought” according to the artist. This addition also gave rise to the obverse portrait being confused with the Roman god Mercury, hence the nickname of the design. The reverse design bears a significant resemblance to the reverse of Weinman’s other numismatic classic, the Walking Liberty Half Dollar. It is, in fact, based on the 1907 American Institute of Architects (AIA) medal reverse. It features the iconic American Bald Eagle. The eagle is pulling a laurel branch—a classical symbol of prosperity—out of the rocky outcrop on which it is standing. It should be underscored that this magnificent design has been rendered in high relief for this series. High relief issues have been quite popular with numismatic collectors in recent years. To date, each issue in the series has a low mintage of 15,000 coins.

What is palladium?

Palladium was discovered in 1802 by William Hyde Wollaston. It is a rare, silver-colored metal in the platinum metals groups. It is primarily found in Russia, Canada, South Africa and the United States. Palladium has extensive industrial uses, the largest of which is its vital role in automotive catalytic converters. Other uses include fuel cells, chemical and testing applications, uses in the dental and medical fields and as jewelry. Due to the scarcity of the metal, where possible, industrial palladium is frequently recycled.

Global Palladium Interest from Collectors

Australian Emus, Russian (Soviet Era) Ballerinas, Chinese Pandas, Isle of Man Angels, Canadian Maples and some other commemorative European and African palladium issues have long been highlights of collections and have added interest to the holdings of collectors young and old. Bullion enthusiasts have not been left out in the cold. A wide range of palladium bars have been issued by financial institutions and refiners over the years including PAMP Suisse, Credit Suisse, Scotia Bank, Valcombi and Johnson & Matthey. The historical and numismatic interest in palladium and these numismatic issues is undisputable. The American Palladium Eagle is the most recent issue in a healthy history of popular and interesting coins. ModernCoinMart is proud to bring the low-mintage American Palladium Eagle issue to you in high, collector quality, third-party graded encapsulation or in the original packaging from the U.S. Mint.

If you’re hoping to get your hands on this magnificent coin, enter your email here to be notified when these coins become available for sale!

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