The first American Eagle palladium bullion coins will be offered for
sale Sept. 25 by the U.S. Mint to its authorized purchasers.
The number of 1-ounce .9995 palladium $25 face value coins offered
will be limited, but that limit is not yet disclosed. No additional
coins will be struck once the inaugural mintage of the 2017 coins is
sold. The U.S. Mint will sell the American Eagle palladium bullion
coins to the authorized purchasers on an allocation basis. The coins
will be sold to the authorized purchasers at a 6.25 percent premium
over the prevailing price of palladium.
Did you buy a winner or a loser from the U.S.
Also in this week’s print issue of Coin World, we not only learn
more about rare coins, but collectible rare cars as well.
The Mint does not sell its bullion coins directly to the public,
but instead sells the coins to its network of authorized purchasers,
or approved buyers, for the closing London PM spot price of the metal
per troy ounce plus a small premium. The coins are then made available
to other customers — such as collectors, dealers and investors — for a
According to Acting Principal Deputy Mint Director David Motl, the
palladium bullion coins will be struck at the Philadelphia Mint and,
like all American Eagle bullion coins, will not exhibit the Mint mark
of the production facility where the coins are struck.
A Proof version of the coin will be offered in 2018. It will be
struck at the West Point Mint and bear the W Mint mark. It will have
same designs as the 2017 bullion version.
The palladium coins were authorized under provisions of Public Law
111-303, the American Eagle Palladium Bullion Coin Act of
2010, which calls for production of a 1-ounce .9995 fine palladium
coin with a $25 face value. The coin is an extension of the American
Eagle bullion coin program.
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The legislation mandates the obverse design be a high-relief version
of sculptor Adolph A. Weinman’s Winged Liberty Head design for the
dime struck in 1916. The reverse is mandated to be a high-relief
version of the Eagle design Weinman rendered in 1906 for the reverse
of the American Institute of Architects’ gold medal first presented in 1907.
At first glance, collectors examining the coin's obverse may be
confused believing they are seeing the W Mint mark of the West Point
Mint even though the coins are being struck at the Philadelphia Mint
and without Mint mark. What appears in the field up and right of the
date is the monogram featuring the designer's AW initials of Weinman.
The planchets for the palladium bullion coins are being provided by
PAMP. The enabling act requires the “purchase of palladium mined from
natural deposits in the United States, or in a territory or possession
of the United States ... ”
If such domestically mined palladium is not available or it is
economically unfeasible to obtain such metal, the Treasury secretary
has the authority to seek palladium elsewhere.
The only domestic mining concern within the confines of the United
States, its territories or possessions yielding palladium is the
Stillwater Mining Company.
The company conducts mining operations at the Stillwater Mine near
Nye, Montana, and at the East Boulder Mine near Big Timber, Montana.
On May 4, 2017, South Africa-based Sibanye Gold Limited completed
the 100 percent acquisition of Stillwater Mining Company for $2.2
billion. On Aug. 30, Sibanye Gold Limited was renamed and registered
as Sibanye-Stillwater Limited (Sibanye-Stillwater).
For additional information on Sibanye-Stillwater, visit www.sibanyegold.co.za.