Palladium Saint Gaudens Coins Proposed
The story on a proposal for Palladium Saint Gaudens coins. This follows last month's announcement that the Mint intends to recreate the Ultra High Relief Saint Gaudens Coin.
Palladium is a silvery-white metal in the platinum family. It is often referred to as a less expensive investment alternative to platinum. Over at Coin Update, I recently linked to an article about investing in palladium. The spot price of palladium is currently $454 per ounce, so it is a less costly precious metal than either gold or platinum.
The proposed legislation states that coins would be minted in .995 pure palladium, but provides that during the first year of minting and issuance, coins may instead by minted and issued in .999 pure gold. If coins are minted in gold during the first year, they would be issued only in proof version, also no coins would be minted in palladium during the first year.
This legislation bears watching, especially for all of the collectors looking forward to seeing this classic design resurrected.
Labels: US Mint