A new series of American Palladium Eagle coins is expected to be released by the United States Mint. This would represent the first time that the US Mint will strike a coin in palladium, and expand the number of precious metals bullion offerings from three to four. Relatively few world mints have struck coins in this scarce precious metal.
The new series has its origin in the bill H.R. 6166: American Eagle Palladium Bullion Coin Act of 2010. This was one of several bills that had been introduced seeking to strike bullion and numismatic coins in palladium. This latest version of the bill was introduced in September 2010 and passed by the House and Senate within about two months.
Following the submission of a marketing study for palladium investment products, the Secretary of the Treasury will have one year to begin minting and issuing coins under the new series.
Specifications and Design
Based on the authorizing legislation, the Palladium Eagles would be struck in a composition of .9995 palladium with a weight of 1 troy ounce. Th size and thickness are left to the discretion of the Treasury Secretary. The legal tender face value of the coins would be $25, which compares to a market price of palladium currently above $700 per ounce.
The quantity of coins to be issued would be at the discretion of the Treasury Secretary with the bullion version of the coin struck at any facility other than the West Point Mint.
The obverse and reverse of the coin would both feature designs by Adolph A. Weinman. The obverse would bear a high relief likeness of the obverse of the Mercury Dime. The reverse would bear a high relief version of the 1907 American Institute of Architects medal. Required inscriptions include “Liberty”, “In God We Trust”, “United States of America”, the denomination “$25”, and the weight and fineness of the coin.
Continuing the Tradition
The American Eagle Program began in 1986 as a way for precious metals investors to add physical bullion to their portfolios. Gold and Silver Eagles were the first coins to be available and were met with immediate success. They quickly became some of the world’s most popular bullion coin offerings.
The program expanded in 1997 with the American Platinum Eagle. Early investors were able to participate in the increased market prices that would occur during the course of the next decade.
With the American Palladium Eagle, investors will have a fourth option. Featuring a classic U.S. coin design and containing one ounce of .9995 palladium, the coins represent a significant numismatic and precious metals offering.