Investing in Palladium
When it comes to investing in palladium, palladium has often been considered the poor man's platinum. But palladium should not be dismissed so quickly as it promises to be an excellent and fruitful investment in the future.
The silvery-white metal palladium, like platinum, is a platinum group metal; discovered in 1803 by William Hyde Wollaston, it was named after the asteroid Pallas that had been discovered the year before. "Palladium" references Pallas Athena, the Greek goddess of wisdom.
Palladium has many in industry. This oxidation-resistant metal is commonly used in the manufacturing of car exhaust systems and is becoming more popular with the attention now focused on green house emissions. Like platinum, palladium reacts in a manner that combats pollutants.
Palladium is also used as an alloy in jewelry, especially in the production of white gold and this is set to continue with the price of palladium being considerably lower than platinum jewelery and even gold.
Palladium also have the curious ability to soak up vast quantities of hydrogen, useful in cold fusion and fuel cell research.
There are two main suppliers of palladium. Russia and South Africa. More than half of the world's annual supply comes from Russia.
Most palladium investors purchase palladium in the form of bullion bars or coins.
The best bullion bars are considered to be the Credit Suisse or PAMP one-ounce bullion bars, containing 99.95 percent palladium. This is the industry standard for palladium bullion bars sold into the investment market. Credit Suisse and PAMP are two of the most well known precious metal names in Europe.
Palladium coins, also very popular, were first struck in 2005 by the Royal Canadian Mint The Palladium Maple Leaf coin, according to the CMI Gold & Silver website, contains one ounce of 99.95 percent of pure palladium and can be used as $50 legal tender in Canada.
Good news for palladium investors is that palladium coins usually carry a lower premiums than palladium bullion bars so investors who are interested in investing in palladium might want to consider buying palladium Maple Leaf coins dated from 2005, as they could achieve future collector status.
"The first run of Palladium Maple Leaf coins were limited to 40,000 and were dated 2005 (minted early November 2005). This means that 2005-dated Palladium Maple Leaf coins probably will turn out to be a small mintage relative to years during which the coins will be minted for twelve months." according to the CMI Gold & Silver website. it goes on, "Therein lies a unique opportunity for the palladium investment community."
Probably accumulating a few palladium coins and bars on a regular basis might be the wisest move when it comes to investing in palladium.
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