BULLION BLURB - "It's All About the Palladium"
Posted on October 15, 2018
Did you know that last month the U.S. Mint released the 2018 one-ounce Proof Palladium coin? Well, even if you did and you blinked, you may have missed it.
At 12:00 P.M. (EST) on September 6th, 15,000 palladium proof coins were made available directly to the public for purchase at a one per household/address limit. By the time the clock struck 12:08, all 15,000 were sold!
The Mint sold these coins at an issue price of $1,387.50 each and for the lucky collectors or dealers who were able to get one saw immediate premiums jumping the value immediately. Even as high as $4,000 in one instance on eBay.
Now, a little over a month later, the waters have settled. However, buys for unsealed boxes are still trading around $2,000 – not a bad investment for the 15,000 timely purchasers. But, it is also safe to say that the value will continue to decrease, perhaps slowly, but likely. After all, at the time of this writing, palladium is trading at $1,079.
That said, this coin should always demand a premium…I mean, only 15,000 were released. But, where will the floor be? Hard to say in the short term, and who knows, if palladium sees a significant increase in market value, well, then this coin could be a quality investment for the foreseeable future.
Check back next time!