By CoinWeek News Staff ….
On Wednesday, September 20, Michael White, of the Office of Corporate Communications for the United States Mint shared the first images of the soon-to-be-released 2017 American Eagle Palladium Bullion Coin.
The palladium coin, a first in this metal for the U.S. Mint, will be available for order by a network of Authorized Purchasers on Monday, September 25. Each coin will consist of one troy ounce of 99.95% pure palladium, and feature a face value of $25. There is currently no legal authorization in place for the production of fractional weights and denominations.
The obverse features an adaptation of famed American sculptor Adolph A. Weinman’s ‘Winged Liberty’ as found on the classic Mercury dime. This follows, of course, last year’s 2016-W “Mercury Dime” Centennial Gold Coin.
The reverse features another popular Weinman design: his reverse for the 1907 American Institute of Architects (AIA) gold medal. And fortunately, the Mint was able to use the original AIA plaster to reproduce the design for the palladium bullion coin.On it, a sturdy, virile and well-feathered eagle holds a tree branch down with its talon as it attempts with great determination to break it in two.
It has taken several years for the Palladium Eagle to finally see production. The American Eagle Palladium Bullion Coin Act, the legislation that authorized the coin, was signed into law in 2010. However, the law also required a feasibility and marketing study to be conducted before the Mint could proceed. This condition was not met until March of 2013, when the Mint’s report was introduced to both houses of Congress. The purpose of the study was to see if there would be enough demand for palladium coinage to justify the costs of planchet procurement and coin production.
At the time, the Mint judged demand to be too low, but it has since found sufficient planchet sources and created a beautiful design in the repurposing of Weinman’s classic work.
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I wish the US Mint would make all these bullion coins in weights other than one ounce. Not everyone who desires to own a Palladium, Platinum or Buffalo Gold coin can afford a thousand dollars or more for one coin. Once again the government caters to the rich and leaves the little guy out in the cold. Typical…
There’s something about “Jumbo” reproductions that just strikes me as extremely tacky. Sort of like fluorescent Paintings of Elvis on Black Velvet. The use of silver colored Paladium instead of the incorrect Gold of recent reissues is a big step in the right direction. However, issuing a “Dime” as 1 ounce of anything is going way too big. Make this available in a 1/10 ounce version and it easily sells out quicker than a Fluorescent Marilyn on Black Velvet.