We have discussed gold and silver and what differences of each are, however, a lot of people may not be familiar with Palladium as a bullion coin. Read on to learn more information.
History of Palladium
Palladium is a chemical element with the symbol of Pd and atomic number of 46. So, the first Palladium coin was discovered in 1966. More than half the supply of this chemical is used in catalytic converters with 90% converted into automobile gas. As a result, Palladium was discovered in 1803 by English chemist William Hyde Wollaston and named after the Greek goddess Athena and an asteroid called Pallas, was originally called “new silver”. Fun fact, Wollaston accidentally discovered it while dissolving platinum with nitric and hydrochloric acid and examining the residue.
The American Eagle was passed into law on December 14, 2010 allowing the U.S. Mint to produce and distribute these coins.
Uses of Palladium
Today, it has many functions. It is similar to platinum in that it can be used as a cheap substitute for precious metals due to its low toxicity. The most common way it is used is in the auto industry but is also used in jewelry and silver coins.
Palladium coins are a form of coinage made from rare silver-white transition metal. Listed below are the most recognizable coins.
- Canadian Big and Little Bear Constellations– Considered to be the lowest-minted coins ever minted by the Royal Canadian Mint totaling over 1200 coins.
- Palladium Maple Leaf- Considered to be legal tender with 99.95% one troy ounce of pure content. The Royal Canadian Mint minted these coins from 2005-2007 and then resumed in 2015. On the reverse side is a single maple leaf with the obverse side depicting Queen Elizabeth II.
- American Palladium Eagle- Considered to have a face value of $25 containing 99.95% fine content.
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