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Royal Canadian Mint Introduces Palladium Maple Leaf Coins |
By:
Bill Haynes |
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In early November, the Royal Canadian Mint struck for the first
time legal tender palladium coins. The Royal Canadian Mint is
one of the world's premier mints, and the Palladium Maple Leafs
ad to the Mint's stellar line of coins. (The Mint's Gold Maple
Leafs are the world's best-selling 24-karat gold bullion coins.)
The first run of Palladium Maple Leafs will be dated 2005 and
limited to 40,000 coins.
Only one size of Palladium Maple Leaf coins will be minted: a
one ounce coin with a legal tender value of $50. The coins will
be 99.95% pure, which is standard for palladium investment
products, including the popular Credit Suisse 1-oz bars and the
PAMP 1-oz bars.
Palladium Maple Leaf coins will be individually sealed in
thermatron, in strips of ten coins. The new coins are the only
legal tender palladium bullion coins being minted by a major
government mint.
The 2005-dated Palladium Maple Leaf coins stand a chance of
achieving collector premiums with only 40,000 being minted. That
is because the 40,000 2005-dated coins probably will turn out to
be a small mintage relative to years during which the coins will
be minted for twelve months.
However, buyers looking for Palladium Maple Leafs to pick up
collector premiums need to be aware that there is not a good
history of palladium coins appealing to collectors. Yet before
the first shipment of Palladium Maple Leaf coins was made, one
major wholesaler had already sold most of its allotment.
Palladium is a member of a six-metal group called the Platinum
Group Metals and is a by-product of platinum and nickel mining.
Because palladium has similar chemical characteristics to
platinum, it is often used as a substitute for platinum when
cost effective to do so.
The primary demand for palladium is the manufacture of catalytic
converters for auto emissions control. Other uses include
electronics, dental, chemical, and jewelry. The palladium market
is relatively small compared with the markets for gold, silver,
and platinum, the best-known and most popular precious metals
investments.
Investors who like palladium should move quickly to get a
position in 2005-dated Palladium Maple Leafs. The coins are
being offered at lower premiums than the Credit Suisse 1-oz
palladium bars and the PAMP 1-oz palladium bars, and coins stand
an outside chance of picking up collector premiums.
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Article Source: http://www.PopularArticles.com/article1272.html |
Article: Royal Canadian Mint Introduces Palladium Maple Leaf Coins
Author: Bill Haynes
Total Views: 93
Word Count: 349
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