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.
These bullion version $25 palladium coins are supposed to be high relief on both sides. That is one reason the Mint is charging it’s bullion coin Authorized Purchasers 6.25% over spot palladium price instead of the lower 4% over spot for the Platinum American Eagle bullion coins. Also, these bullion versions cannot be struck at the West Point Mint per the law, but any Proof palladium coins issued must be struck at the West Point Mint & have different finishes each year. This will add a great variety to this beautiful coin. Issuing these new coins just 3 months from… Read more »
It’s going to be too expensive for me so I’ll be passing on it.
Betcha there’s gonna be a lot of FS/FDOI/ER/etc. coming directly from the APs …. all for an even higher mark up …
Palladium is down $20 per ounce this morning, just 6 days before the Mint offers its first palladium coin to its Authorized Purchasers!
-NumisDudeTx
These and all coins should be available to the general public. The Authorized Purchasers agreement should be abolished.
Is there a reason the mint keeps rehashing old coin designs on new products? Has the mint lost its creativity? This new palladium coin and the ATB obverses. The 100th anniversary gold issues of 2016 just to name a few. The 2009 UHR gold. Yes these are nice coins but cant we get new designs? Some of the patterns of the 1800s were beautiful. Why not issue an aluminum Indian head penny again?
The 100th anniversary gold coin’s design were used to commemorate those three coins.
joera –
Welcome back! Hope you are feeling better. I answered your question from the other day on that article you posted a comment on. Take care.
Happy collecting joera!
-NumisDudeTx
The money shot on this coin is the reverse. At most only 100 medals have this design.
So this is why the price of palladium has be increasing steadily over the past year from $500/oz to over $900/oz now, since the mint’s suppliers have been buying an extra few hundred thousand ounces of Pd to make the planchets for this coin. Since they now have the planchets, expect palladium bullion prices to drop over the next 6 months, so you may want to wait awhile to buy this coin and let the APs absorb the drop in bullion prices.
Mark – So true! The planchets are coming from Swiss company PAMP from foreign mines mostly (yes, the legislation allows this since there is only one platinum/palladium mine in the USA owned by a South African company!). Precious metals speculators/investors have been buying up palladuim for over a year pushing the price way up. The Mint bought their palladuim before the major rise & will make a fortune in profit on these Palladium American Eagle bullion version 1 oz coins. The APs will also make an immediate big profit as these will sell out I feel on the first day.… Read more »
So who are these Authorized Purchasers ?
Are the coins being issued in any kind of display case?
Or are we going to have to pay for PCGS or NGC grading in a plastic slab?
APMEX is one of the APs I think. Check out their website and you’ll see a variety of offerings for the Palladium
The Bullion Exchange is already taking orders for these coins on eBay for $1080 each!
Oh, and if you go directly to the Bullion Exchange website, the cost is only $1030. for a single coin, $50 cheaper than eBay (and $110 over the spot price of Pd).
The Bullion Exchanges website says the mintage is 15,000. If that is true, I guess I should buy one now because that is not many for a debut coin like this.