Skip to main content

Get your money ready for 2018 palladium proof

Remember the U.S. palladium bullion American Eagle coin introduced in September?

You know, the one-ounce piece with a mintage of 20,000 that looks like a Mercury dime on the obverse and a Walking Liberty half on the reverse?

You don’t?

You are probably not alone.

I thought I would check on the coin this morning by looking at the offers on the APMEX website.

What offers? There aren’t any.

The bullion-selling firm is completely out of this new bullion coin.

If you happen to own one. APMEX is offering a hefty 21.75 percent premium to buy it from you.

Tempting.

Palladium is at $1,011.90 an ounce.

With the markup, APMEX is paying $1,231.90 each.

Early buyers have some profits (about $150 a coin) since palladium was lower in September.

This scarcity contradicts the term bullion coin.

Such a piece is supposed to be a convenient way of trading a specified quantity of bullion at minimal markup.

Well, it isn’t convenient if you cannot buy any.

Its markup is way beyond minimal.

The Wall Street Journal earlier this week was criticizing the Mint’s markup for proof collector gold coins.

The palladium secondary market markup is not all that far away from the standard proof gold markup.

This sets up a situation where collectors might not be the only ones interested in the proof palladium coin when it is offered to buyers in 2018.

Speculators might figure that any palladium coin is better than no palladium coin, even if it is a proof.

Bullion sellers can make money only if they can regularly buy and sell their products.

So keep a watchful eye on APMEX to see if this shortage of palladium coins continues.

Then watch for the Mint’s offer of the proof.

What we can surmise from current conditions is that there will not be enough proofs to go around.

An instant sellout is assured, unless the Mint has been able to round up a huge supply of palladium.

I doubt it.

So I nominate the 2018 proof palladium American Eagle as the speculative darling of the New Year.

If you are unfamiliar with it, you still have time to look it up.

Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017 . He is editor of the weekly newspaper “Numismatic News.”

• Like this blog? Read more by subscribing to Numismatic News.

The post Get your money ready for 2018 palladium proof appeared first on Numismatic News.

Comments

Post a Comment

Popular posts from this blog

Gold goes digital: Dillon Gage introduces DGGold future of direct physical gold ownership, now available to investors

Addison, Texas (August 15, 2018) —  Dillon Gage Metals , one of the world’s largest precious metals wholesale firms and technology innovators in the industry, recently launched its first Digital Metals product: DGGold. This product is the first of its kind to be offered to the retail public through Dillon Gage’s growing precious metals dealer network. It is eligible for purchase on their proprietary online trading platform, FizTrade. DGGold, which utilizes VaultChain Gold powered by Tradewind, delivers an unprecedented method of direct gold ownership to the investment community, expanding on Dillon Gage’s already impressive lineup of product and service offerings. “I am excited to introduce Dillon Gage Metals’ newest product to the individual investor and individual retirement account investment community,” said Mark Furmanek, chief operating officer at Dillon Gage Metals. “DGGold brings an investment product, previously dominated by large institutions and bullion banks...
Post a Comment
Read more

Royal Mint Partners with NGC to Offer Certified UK Coins

The Royal Mint, the official mint of the United Kingdom, has partnered with Numismatic Guaranty Corporation (NGC), the world's largest third-party coin grading service. For the first time, The Royal... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Post a Comment
Read more

Letters to the Editor: Nov. 12, 2019

War in the Pacific ‘W’ Mintmark I was in the self-checkout at Walmart four weeks ago here in Mt. Vernon, Ill., and received a little bit of loose change for my purchase. I didn’t check it until I got home and was very surprised to find a War in the Pacific with a “W” mintmark. I’m just wondering if it’s something that I should send in to one of the grading companies. In other words, would it be worth more later on by doing so? I understand that it’ll cost at least   $30.00 to do so and also heard that “in the raw” is only worth maybe $25. I   hope to hear a reply. Name and address withheld   In Response to Richard Giedroyc’s Commentary I politely disagree with erudite and longtime numismatic colleague, Richard Giedroyc, whose Numismatic News story, “Get Rich” Promotion Wrong Angle for Healthy Market Growth,” was critical of a recent CNBC story entitled, “People have been making up to $100,000 off ‘coin hunting.’” He doesn’t think the hobby will benefit with an a...
Post a Comment
Read more