Best Palladium Coins for Investors in 2024
Two of the best Palladium Coins on the market include the Canadian Palladium Maple and the American Palladium Eagle. Both of these coins offer exceptional purity paired with beautiful designs. If you’re a new investor, though, you might not even know what palladium is.
Some investors focus primarily on the most popular precious metals to build their portfolios. Gold, silver, and platinum are generally considered the most recognizable precious metals on the market. But if you’re looking to diversify your stack with one of the most historically profitable metals of the past decade, Palladium Coins are a great choice.
Palladium itself is a fantastic investment. Its rarity, beauty, and unparalleled industrial demand makes palladium a no-brainer for many investors. Palladium coins tack even more value onto the precious metal by packaging it into beautiful works of art that will shine in any home safe.
In today’s Hero Bullion guide, we’re explaining everything you need to know about the two best palladium coins of 2024.
What is Palladium Bullion?
Palladium is a silverish precious metal that belongs to the platinum family of elements. Like platinum, palladium products have a shinier and brighter appearance compared to silver. Another similarity between palladium and platinum is the metal’s price. Unlike cheap silver bullion, palladium can cost over a thousand dollars per ounce.
Why is Palladium Expensive?
What makes palladium such an expensive metal? Palladium’s high prices are attributable to three main factors. Palladium is rare, beautiful, and industrially useful. When you combine these elements, it’s pretty clear why palladium is often one of the world’s most costly precious metals.
Palladium’s high price tag might be a problem for budget investors. However, it’s important to remember that palladium’s price hit an all time high in March of 2022, climbing to a mind-boggling $3440 per troy ounce.
Because palladium’s price has fallen considerably since 2022, some investors think it might be time to buy the dip on palladium. Palladium coins are a great way to diversify your portfolio with a potentially high-yield precious metal.
Reasons to Invest in Palladium Coins
Why should you invest in palladium coins specifically? We find three main benefits to putting your money on Palladium Coins from mints around the world. Beautiful artwork, high palladium content, and industrial demand for palladium help make Palladium Coins one of the best investment options of 2024.
One of the best reasons to buy Palladium Coins is their beauty. Palladium is one of the prettiest precious metals. Like platinum, palladium is shinier than silver and offers a unique look that distinguishes itself from its peers.
But when you buy Palladium Coins, you’re also capitalizing on the production value and artistry of some of the world’s most respected mints. Both the Canadian Palladium Maple and American Palladium Eagle are beautiful, high purity palladium coins that can improve the quality of any collection.
High Palladium Content
Another reason to buy Palladium Coins is their high palladium bullion content. We love the look and feel of Canadian Palladium Maples and American Palladium Eagles. These two coins contain .9995 fine palladium bullion.
If you’re looking to open an Individual Retirement Account (IRA) using precious metals, both of these coins are eligible for inclusion in your account. Even if you’re not someone interested in stacking for retirement, rest assured that the world’s most popular Palladium Coins feature a high percentage of pure palladium bullion.
This high palladium content is an important part of the appeal of Palladium Coins for another important reason: industrial demand.
Industrial Demand for Palladium
Industrial demand for palladium is another reason behind the exceptional popularity of Palladium Coins. Palladium bullion has been an important industrial asset for decades. In the early 2000s, many car manufacturers started to use palladium instead of platinum to create high quality catalytic converters.
Demand for pure palladium doesn’t end at the automotive industry. Palladium is used to make smartphones, dentistry equipment, medical technology, and more. During the all-time-high palladium reached in 2022, shortages of palladium following the outbreak of the Russia-Ukraine war were a leading cause.
This brief scare was alleviated when Russia resumed the sale of palladium, which is primarily found in their country’s mines. It illustrates an important part of palladium’s appeal, though. Palladium is one of the most in-demand metals in the world. For investors who want to stack something with hundreds of applications across multiple industries, Palladium Coins are a fantastic choice.
Best Palladium Coins – 2024
We tend to recommend two Palladium Coins to new investors: Canadian Palladium Maple Leaf Coins and American Palladium Eagle Coins. Both of these coins are immensely popular among investors – and with good reason. Their intricate designs, high palladium content, and reputation makes them an excellent choice for new and seasoned investors alike.
Canadian Palladium Maple Leaf Coin
The Canadian Palladium Maple Leaf Coin is one of the best Palladium Coins on the market. This is the national palladium coin of Canada, and it was first released in November of 2005. Although the series was discontinued in 2009, investor demand caused the Royal Canadian Mint to reintroduce the coin in 2015.
Since then, it’s become a staple of the mint’s yearly offerings. Like the traditional Canadian Maple Leaf series, the coin features Britain’s monarch on the obverse and the Canadian maple leaf design on the reverse.
Let’s take a look at the designs and specifications that make the Canadian Palladium Maple Leaf Coin one of the world’s most popular palladium coins.
Designs and Specifications
Part of the Canadian Palladium Maple Leaf’s popularity is due to its exceptionally high palladium content. Each coin is minted with a standard .9995 palladium bullion. In other words, 99.95 percent of every Canadian Palladium Maple Leaf is actual palladium.
On the obverse of the coin, you’ll find Britain’s current monarch. Until her death, this was always Queen Elizabeth II. From now on, the coin will instead feature the portrait of Charles III, the new King of England. Because the Royal Canadian Mint was once a subsidiary of Britain’s Royal Mint, their coins always feature Britain’s royal leader.
If you flip over the Palladium Maple, you’re treated to the design that gives this coin its name. Aside from the purity, material, and country of minting, this side of the coin displays Canada’s national symbol – the maple leaf. The intricate detail of the maple leaf design really shines against the beautifully pure palladium bullion that the coin is made with.
American Palladium Eagle Coin
Like the Royal Canadian Mint, the U.S. Mint decided to offer a palladium version of their most famous national coin. The American Palladium Eagle Coin is one of the best Palladium Coins in the world – and we completely understand why.
The coin was authorized in 2010 by the United States Congress. This law, named Public Law 111-303, mandated that the U.S. Mint began producing high purity palladium coins for collectors. The coin might share a name with the American Gold and Silver Eagles, but it offers a unique set of designs.
What makes the American Palladium Eagle one of the best Palladium Eagle Coins to buy in 2024? Below, we’ll take a look at the coin’s key details and features.
Key Details and Features
Much like the coin produced by our Northern neighbors, the American Palladium Eagle Coin is minted with 99.95 percent pure palladium bullion. For investors who have been paying attention, this is a fantastic feature. According to the IRS, contributions to a precious metals IRA need to be minted with a purity of .9995 or better.
In addition to being eligible for contribution to a precious metals Individual Retirement Account, this coin is a popular collector’s item. Since 2017, the American Palladium Eagle has been one of the U.S. Mint’s most celebrated yearly releases.
On the obverse, the U.S. Mint treats investors to Adolph A. Weinman’s “Winged Liberty” depiction of Lady Liberty. You might recognize this design from the Mercury dime, which was minted from 1916 until 1945.
On the reverse, we find a proud bald eagle ripping a plant out of the ground. In the background, you’ll note mountains jutting up into the sky. Again, we think that the beauty of palladium bullion helps to highlight the majesty and intricacy of the U.S. Mint’s groundbreaking designs on this coin.
What Makes Palladium a Good Investment?
Palladium coins like the American Palladium Eagle and Canadian Palladium Maple are time-honored choices for investors of all experience levels. But why is palladium one of the best ways to invest in precious metals? Industrial demand, scarcity, and an excellent price history help to make palladium a must-add investment for any precious metal stacker.
Demand for palladium is always high. Most precious metals are used outside of coins and bars. Silver and gold both find their way into industry in various ways. But palladium bullion is really in a league of its own.
Palladium is used in hundreds of products that we need everyday. Automobiles, smartphones, and even medical technology employ palladium. Together, these industries consume the lion’s share of the world’s annual production of palladium bullion.
High industrial demand is one way we measure the investment potential of any asset – including precious metals. When you buy palladium, you’re able to capitalize on more than just the metal’s intrinsic value, rarity, and beauty. Investors who are savvy and time the market might be able to use extrinsic indicators to help themselves earn a bigger profit.
Palladium is around 15x as rare as platinum, which itself is 30 times rarer than gold. This makes palladium one of the most sought-after and scarce precious metals on the planet. Most of the world’s supply of palladium bullion comes from Russia, which explains why the metal had such a meteoric price climb in the wake of Russia’s invasion of Ukraine.
In a vacuum, rarity doesn’t necessarily make a resource valuable. Plenty of products are rare but cheap. Generally, rare and cheap products are devalued because of a lack of demand. This isn’t a problem for palladium. Palladium coins are a good investment because the metal they’re made with is both extremely rare and incredibly in-demand.
Together, these two benefits make a compelling argument for why you need to be stacking Palladium Coins in 2024.
Excellent Price History
Over the past few years, all precious metals have experienced turbulent price shifts. Gold, silver, and platinum all increased in value as the threat of Russia’s invasion of Ukraine shook up international relations.
But no metal has experienced a more wild ride than palladium. For about a month in 2022, palladium traded at a significantly higher price than gold and platinum. While palladium prices have since settled down from its recent all-time high, palladium coins are still a fantastic investment with tremendous upside potential.
It’s important for investors to remember that palladium’s price history is a bit newer than price histories for classic metals like gold, silver, and platinum. Palladium was only discovered in 1803, and it wasn’t until the late 1900s that scientists began to see the industrial potential of the precious metal.
Still, it’s clear that palladium bullion has an excellent track record within the precious metal market. Over the past few years, palladium’s price has swung by nearly $2,500. Compared to other precious metals, palladium is both the most volatile and, as a result, the most potentially profitable precious metal investment around.
Final Thoughts: Best Palladium Coins in 2024
You should be buying Palladium Coins in 2024. For several decades, palladium has been on the rise. Rarer than both gold and platinum, palladium’s industrial uses put it in a unique position to diversify your portfolio and maximize your profits.
We tend to find that the two most popular and best Palladium Coins for investors in 2024 include the American Palladium Eagle and the Canadian Palladium Maple. These two coins come from two of the world’s most respected mints, feature a high percentage of pure palladium, and allow investors to capitalize on all that this precious metal has to offer.
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About The Author
Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.