Investors and collectors can soon start ordering a brand new United States Mint product, the American Eagle Palladium Bullion Coin. The U.S. Mint will begin selling the bullion piece to Authorized Purchasers (AP’s) on Monday, Sept. 25.
How many will be available is unknown. There are limits. Namely, the U.S. Mint will accept AP orders for the 1-troy ounce, .9995 palladium coins on an allocated basis and no more will be offered this year after depletion of the initial inventory.
AP’s consist of major coin and precious metals dealers, brokerage companies, and other participating financial intermediaries. They buy bullion coins in bulk from the U.S. Mint, paying a premium over their melt value, and then resell them in smaller quantities at a markup to other dealers and the public. In the case of $25-denominated American Palladium Eagles, AP’s must pay the U.S. Mint a 6.25% premium over the prevailing price of palladium.
The Palladium Eagle’s obverse (heads side) design is an adaptation of Adolph A. Weinman’s ‘Winged Liberty’ design first created for the 1916 dime. Most desribe those 10-cent pieces as "Mercury dimes." The bullion coin’s reverse (tails side) is based upon Weinman’s Eagle design for the 1907 American Institute of Architects (AIA) gold medal. (Read more about the designs.)
Public Law 111-303 requires the Secretary of the Treasury to mint and issue palladium bullion coins on an annual basis. The U.S. Mint can also strike proof and uncirculated editions for collectors. A proof version is planned for 2018.
