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

Stack’s Bowers’ June 2020 Auction Nets Over $5 Million

The Stack’s Bowers Galleries June 2020 Auction continued the trend of high prices realized recently demonstrated in their March Santa Ana and May Hong Kong auctions. Over $5 million was realized in the June sale across United States coins, tokens, and medals, achieving 114 percent of the pre-sale estimate on sold lots. (All prices listed include the buyer’s fee.) Strong demand for high-end gold coinage reflected continued growth in this collecting area, while Numismatic America also saw incredible strength, earning over 50 percent above pre-sale estimates in Internet-Only Session Three. With such strong results in their June sale, Stack’s Bowers Galleries is anticipating considerable interest in their upcoming August 2020 Auction, which will be posted online for viewing and bidding in early July. This Mint State 1824/4 O-110 Capped Bust half dollar featuring Washington and Lafayette countermarks realized $26,400. (All images courtesy Stack’s Bowers) Session One opened with Numism

Mythology Featured on Early Indian Banknotes

The origin of the universe can be explained by modern astronomers and astrophysicists, while archaeologists and historians try to clarify the origin of human societies. A mythology is a collection of stories about a specific culture or religion. They often feature supernatural characters. Cultures around the world are filled with such ales about relationships between gods and humans. In the distant past, however, before any sciences existed, the beginnings of the world and of society were explained by MYTHOLOGY. Mythology is a common topic of expression through artwork. Not just dance; painting, sculpting, the mythology is a way of expression during many facets of day to day life. Even on Indian coins, stamps, and banknotes Mythology is featured with distinct concepts. The blog covers the topic: Mythology Featured on Early Indian Banknotes. As the British colonial reign strengthened in India over the years, their paper currency became the new normal. More denominations came in, layou

Letters to the Editor (September 18, 2018)

Minting a new 3-cent piece wasteful if not silly Mint a three-cents coin? In the Aug. 28 issue of Numismatic News , a Viewpoint article by Wayne Pearson advocated the issuance of a new three-cent denomination coin to replace the cent. I think this idea is silly since nothing can be bought for three cents. Minting such a denomination would be wasteful. The least expensive item I know of is a paper bag, which one can buy for 10 cents in California when buying groceries. Making any coin of a smaller denomination makes no sense. I advocate a complete reworking of all of our coin denominations as follows: A dime, as the smallest; a quarter; a half dollar; and a dollar and a five dollar, all in ascending order of size. Eliminate the $1 bill and the $5 bill and begin the printing of $500 bills. Thomas Miller Santa Rosa, Calif. Base metal dollar coin designs that have circulated alongside the paper dollar include Eisenhower (top left), Susan B. Anthony (center right), and Sacagawea

Gold Eagle Price

Search This Blog