I've been a collector all of my life. 2021 was a fantastic year with so many wonderful options. I spent most of my time fighting the internet bots to get my orders in but that was a very real frustration for many of us. The other frustration was that the packaging was rather shoddy and the cases were absolutely horrible. The mint is charging more, stripping down their holders for each coin and dealing with shortages and internet failures that you would not believe. Now they were going to make the 2022 Morgan and Peace Silver Dollars in proof condition but because of the extreme shortage of silver...that's been cancelled! I hope that 2022 goes so much smoother than 2021! Best wishes to all of you fellow collectors (numismatists)!
Palladium is a chemical element with symbol Pd and atomic number 46. It is a rare and lustrous silvery-white metal discovered in 1803 by William Hyde Wollaston. He named it after the asteroid Pallas, which was itself named after the epithet of the Greek goddess Athena, acquired by her when she slew Pallas. Palladium, platinum, rhodium, ruthenium, iridium and osmium form a group of elements referred to as the platinum group metals (PGMs). These have similar chemical properties, but palladium has the lowest melting point and is the least dense of them. More than half the supply of palladium and its congener platinum is used in catalytic converters, which convert as much as 90% of the harmful gases in automobile exhaust (hydrocarbons, carbon monoxide, and nitrogen dioxide) into less noxious substances (nitrogen, carbon dioxide and water vapor). Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment, and jewelry. Palladium is a key component of fuel cells, which react hydrogen with oxygen to produce electricity, heat, and water. Ore deposits of palladium and other PGMs are rare. The most extensive deposits have been found in the norite belt of the Bushveld Igneous Complex covering the Transvaal Basin in South Africa; the Stillwater Complex in Montana, United States; the Sudbury Basin and Thunder Bay District of Ontario, Canada; and the Norilsk Complex in Russia. Recycling is also a source, mostly from scrapped catalytic converters. The numerous applications and limited supply sources result in considerable investment interest.
There is always a premium when you buy bullion/coins. The metal has to be processed to make it pure, then it goes through the process of being turned into a coin which isn't cheap to do. These companies also have to make a profit on the bullion they produce, the profit is usually very little. The price of Palladium right now is around $2,400/ounce and there are 1oz Palladium coins that cost $2,540 right now. The premium you pay for bullion is very little, nowhere near double the melt price. The less valuable metals have a much higher premium. Copper is $0.16 per ounce, but 1oz copper coins cost $2.00.
Another factor is the cost is the number of pieces being struck. Not sure what the mintages have been. Another factor relates to the first comment: how many coins can be produced by each die?
I've been a collector all of my life. 2021 was a fantastic year with so many wonderful options. I spent most of my time fighting the internet bots to get my orders in but that was a very real frustration for many of us. The other frustration was that the packaging was rather shoddy and the cases were absolutely horrible. The mint is charging more, stripping down their holders for each coin and dealing with shortages and internet failures that you would not believe. Now they were going to make the 2022 Morgan and Peace Silver Dollars in proof condition but because of the extreme shortage of silver...that's been cancelled! I hope that 2022 goes so much smoother than 2021! Best wishes to all of you fellow collectors (numismatists)!
That is my pick for one of the most beautiful coins
Interesting information and neat coinage! Thanks for sharing!
Thank you! We're glad you liked it.
Palladium is a chemical element with symbol Pd and atomic number 46.
It is a rare and lustrous silvery-white metal discovered in 1803 by William Hyde Wollaston.
He named it after the asteroid Pallas, which was itself named after the epithet of the Greek goddess Athena, acquired by her when she slew Pallas.
Palladium, platinum, rhodium, ruthenium, iridium and osmium form a group of elements referred to as the platinum group metals (PGMs).
These have similar chemical properties, but palladium has the lowest melting point and is the least dense of them.
More than half the supply of palladium and its congener platinum is used in catalytic converters, which convert as much as 90% of the harmful gases in automobile exhaust (hydrocarbons, carbon monoxide, and nitrogen dioxide) into less noxious substances (nitrogen, carbon dioxide and water vapor).
Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, groundwater treatment, and jewelry.
Palladium is a key component of fuel cells, which react hydrogen with oxygen to produce electricity, heat, and water.
Ore deposits of palladium and other PGMs are rare.
The most extensive deposits have been found in the norite belt of the Bushveld Igneous Complex covering the Transvaal Basin in South Africa; the Stillwater Complex in Montana, United States; the Sudbury Basin and Thunder Bay District of Ontario, Canada; and the Norilsk Complex in Russia.
Recycling is also a source, mostly from scrapped catalytic converters.
The numerous applications and limited supply sources result in considerable investment interest.
Is it a good coin investment?
The reverse of this coin is stunning.
why is Palladium coins so expensive? it is almost double the melt price of actual palladium
There is always a premium when you buy bullion/coins. The metal has to be processed to make it pure, then it goes through the process of being turned into a coin which isn't cheap to do. These companies also have to make a profit on the bullion they produce, the profit is usually very little. The price of Palladium right now is around $2,400/ounce and there are 1oz Palladium coins that cost $2,540 right now. The premium you pay for bullion is very little, nowhere near double the melt price.
The less valuable metals have a much higher premium. Copper is $0.16 per ounce, but 1oz copper coins cost $2.00.
Another factor is the cost is the number of pieces being struck. Not sure what the mintages have been. Another factor relates to the first comment: how many coins can be produced by each die?