Price a barrier for the 2021 palladium coin sales?
- Published: Sep 11, 2021, 10 AM
The pace of opening sales Sept. 2 from the U.S. Mint for the Proof 2021-W American Eagle palladium coins suggests some buyer resistance to the $3,350 price set for the coin, based on comments made online.
Unlike other recent U.S. Mint numismatic products, the coin did not sell out immediately, despite its limited edition of 12,000 coins. The Mint imposed an initial household order limit of one coin.
Much of the online discussions about the coin focused on the price, which was determined the day before sales began; the coin’s mintage; and whether there was any chance of being able to flip the coin for a fast profit.
The U.S. Mint issued the American Eagle palladium coin in a bullion version in 2017 (mintage 15,000; it sold out to authorized purchasers with a palladium price of $917), a Proof version in 2018 (mintage 15,000; sold out; initial price at $1,387.50); a Reverse Proof version in 2019 (mintage 30,000; current sales of 18,528; initial price of $1,987.50); an Matte Finish Uncirculated version in 2020 (limited edition of 10,000; 9,384 were recorded sold through Aug. 29, 2021; initial price of $3,000, and it remains available for purchase from the Mint).
The 1.0005-ounce .9995 fine palladium coin’s obverse replicates in high relief sculptor Adolph A. Weinman’s obverse design for the Winged Liberty Head dime introduced in 1916.
The high-relief reverse illustrates Weinman’s eagle design rendered in 1906 for the American Institute of Architects gold medal, first bestowed in 1907.
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