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 Replies: 10 / Views: 1,594 |
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Pillar of the Community
United States
1348 Posts |
Has anyone heard anythign new about this? I remember topics about it about 1 year ago. Just wondering.
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Bedrock of the Community
United States
17884 Posts |
They were supposed to do a marketing study to determine if there was a demand and market for it. Haven't heard anything since then. Personally I hope they decide not to do it. Palladium is an industrial metal and it is rare enough that even a modestly successful bullion coin would easily consume the entire annual domestic production and then some. Industry would then have to import all they needed. There would be a good chance that a domestic coin program would force a much higher price for the metal.
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Pillar of the Community
 United States
1348 Posts |
a good reason why I want to get in on the basement floor :D
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Pillar of the Community
United States
1903 Posts |
Palladium coin soaking up the entire domestic production? Huh? Canada has a palladium coin already. There are also jewelers making jewelry in it. Palladium isn't THAT rare. Conservatively speaking the U.S. production of palladium is somewhere around 450,000 troy ounces a year. This does not take into account the fact that the Montana ore vein couldn't support higher production and doesn't account for palladium recovered from old catalytic converters
Edited by unholyroller
04/19/2012 10:34 am
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Bedrock of the Community
United States
17884 Posts |
So a palladium coins couldn't have a half million coin annual mintage? Hmmm Maybe you're right But considering US industry currently consumes three times the domestic production I don't see any reason to add extra demand to the domestic production.
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Pillar of the Community
United States
1770 Posts |
sounds like another gimmick to me
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Pillar of the Community
United States
1903 Posts |
I made my assumptions based on the fact that bullion raw material is sourced domestically. Are our gold and silver coins made from domestically sourced or imported material? There are already many other coins/bars/rounds in .999 palladium so why not one from our country? I don't get the "gimmick" statement....bullion is just an investment device....so why not offer added market flexibility to the suite of other bullion coinage we have now? To me it makes perfect sense...to me "industrial" precious metals make a lot of sense because there is an actual market draw down of stockpiles over time which helps support pricing and gives an added demand for the metal beyond just value speculation and investors.
Edited by unholyroller
04/20/2012 03:39 am
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Bedrock of the Community
13014 Posts |
Even if it could cause a shortage domestically (but I'm pretty sure we just get it from where ever is cheapest) a simple solution would just be to have limited mintages of the coin. Canada and Russia currently make the coins already, would be nice to have a US coin option personally
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Pillar of the Community
United States
3755 Posts |
An investment precious metal coin a gimmick? I think that word doesn't mean what you think it means.
I cant see how it would a big deal and cause industrial issues. Bring it on, I would love it. Might not be able to get one though. Still dying to get a platinum.
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Bedrock of the Community
Australia
21786 Posts |
I wonder if the U.S. Mint would ever do a proof set or the year's circulation standard coins in all gold, or all silver, maybe on a yearly basis?
The Royal Australian Mint in fact does this each year, with only a few hundred sets for the gold proof sets. The gold sets in particular always have substantial aftermarket potential due to their low mintages.
Now there is a possibility for you! A Liberty Walking in .999 fine gold!
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Bedrock of the Community
United States
17884 Posts |
Quote:
Are our gold and silver coins made from domestically sourced or imported material? The laws as written do require them to be made from newly mined domestic production. Other sources can be used if there is no domestic production available. It would seem to me that the only way to assure the domestic supply would be to contract with the producers to buy their future output. Take it off the market before it gets there. In the case of palladium there is only one producer |
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Replies: 10 / Views: 1,594 |
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Posted 04/19/2012 08:33 am
