Palladium Coin
Also: Palladium bullion coin, Palladium coin
A palladium coin is a minted coin made of palladium with a defined fineness, acquired as an investment vehicle or collector's item.
A palladium coin is a minted investment coin made of pure palladium - a silvery-white platinum group metal - with a standardised fineness of usually 999.5/1000 (99.95%). It is aimed at investors and collectors who wish to invest specifically in the rarest of the four common precious metals. Buyers should always keep an eye on the live palladium price, as palladium is the most volatile of the classic investment precious metals.
Most important mint series
The best-known palladium coins in 1 oz size (31.103 g):
| Coin | Issuer | Fineness | First minted |
|---|---|---|---|
| Maple Leaf Palladium | Royal Canadian Mint | 999.5 | 2005 |
| Palladium Ballerina | Mint of Russia | 999.5 | 1989 |
| Vienna Philharmonic Palladium | Austrian Mint | 999.5 | 2022 |
| American Palladium Eagle | United States Mint | 999.5 | 2017 |
Alongside the 1 oz standard size, rarer denominations (1/2 oz, 1/4 oz) appear in limited mintages. Proof versions with a mirror-finish field and matt relief are traded at significant premiums.
Calculating the melt value
The melt value of a palladium coin is derived from fine weight times spot price:
Melt value = Gross weight (g) × Fineness × Palladium spot price (per g)
The melt value calculator can determine the value automatically. Coin weight and dimensions can be checked against target values with the coin weight checker - an important first step in authenticity testing.
Tax note
Unlike investment gold (VAT-exempt in the United Kingdom under HMRC rules), palladium coins are subject to the full standard-rate VAT of 20% in the UK. Platinum and silver coins are likewise not VAT-exempt, which is why physical gold often remains the first choice for tax-sensitive investors. For Capital Gains Tax, UK legal-tender coins from The Royal Mint are CGT-exempt; non-legal-tender coins such as most palladium bullion coins are subject to CGT on gains above the annual exempt amount. There is no German-style one-year speculation period. This is not tax or investment advice - please consult a tax adviser in individual cases.
Checking authenticity
Palladium is close to nickel and stainless steel in density (12.02 g/cm3) and magnetic behaviour, which makes counterfeiting easier. Reliable testing methods:
- Weight & diameter - a deviation from the target value of >0.1 g is suspicious.
- X-ray fluorescence analysis (XRF) - non-destructive elemental determination.
- Acid test - palladium dissolves only in aqua regia.
- Ultrasound - reveals tungsten cores or cavities.
The coin authenticity test guides you through a structured test sequence.
In brief
Palladium coins offer direct physical access to an industrially indispensable platinum group metal that is in demand above all in automotive catalysis. The 20% VAT and the high price volatility are the central calculation factors for any purchase.