The U.S. Mint's planned palladium coin might be coming at the right time.
According to the investment research firm Zacks.com, palladium
is one precious metal collectors should seriously investigate.
The firm reports that palladium futures recently climbed to a 14-month
high, including a July surge to the largest one-month price gain in
Price increases are being supported by increased sales, especially
in China, in the automotive sector, which incorporates palladium in
the manufacture of catalytic converters for automobile emissions control.
Connect with Coin World:
“Analysts also believe that after gold’s stupendous rally so far
this year, traders may be trying ‘something new and exciting,’ ”
according to Zacks.com. “Maybe investor psychology has humans
convinced that if they buy something not so mainstream, maybe they’ll
make more money.”
Zacks quotes Street.com, “Palladium supplies are expected to
fall by 4% worldwide,” but “demand is forecast to rise by 3%.”
For more on the outlook for palladium and platinum, visit Zack.com.
Just in time for the
U.S. Mint's palladium bullion coin
The palladium price increase comes as the U.S. Mint works to put out
its new palladium bullion coin, which could hit the market in 2017.
The palladium bullion coin initiative, authorized under the American
Eagle Palladium Bullion Coin Act of 2010, Public
Law 111-303, requires an obverse that reflects sculptor Adolph
A. Weinman’s obverse design from the Winged Liberty Head dime — the
same obverse just used for the 2016-W Winged Liberty Head gold dime —
and a reverse employing Weinman's eagle design from the reverse of the
American Institute of Architects award medal introduced in 1907.
Weinman designed the medal in 1906.
Legislation introduced by Rep.
Bill Huizenga, R-Mich., was passed in December and signed into
law by President Obama, clearing the hurdle for a palladium bullion
coin by negating a 2013
feasibility study that suggested that a palladium bullion coin
program could not be sustained after first-year projected sales of
100,000 coins. The study forecast viability for Proof and Uncirculated
The Mint is moving forward with plans for issuing a 1-troy-ounce
.9995 fine palladium bullion coin with a legislated face value of $25.