Palladium Saint Gaudens Double Eagle Coins Proposed
S. 758: Original Saint-Gaudens Double Eagle Ultra-High Relief Bullion Coin Act of 2009
Summary: Proposal for palladium bullion and numismatic coins. The coins would be produced with the design of the 1907 Double Eagle Ultra High Relief Gold Coin and contain 1 ounce of .995 palladium.
Sponsor: Sen. Max Baucus
Date Introduced: April 1, 2009
Current Status: Referred to Committee (April 1, 2009)
The stated purpose of the bill is to produce palladium bullion coins and provide affordable opportunities for investments in precious metals. This is the second attempt at a bill which would authorize the production of palladium bullion coins. The first attempt was introduced one year ago.
The current bill proposes both numismatic and investment bullion coins which bear the obverse and reverse design of the 1907 Double Eagle Ultra High Relief Gold piece. All coins would contain .995 pure palladium, mined from natural deposits in the United States within the one year period before the coins are minted.
The numismatic coins would bear a single finish that closely approximates the finish of the original 1907 Ultra High Relief Gold piece and would be struck only at the West Point Mint. Coins would bear the denomination, date in Roman Numerals, and the words “In God We Trust”. No more than 15,000 numismatic coins could be produced.
At the option of the Secretary of the Treasury, a gold coin bearing the same design could also be produced. This coin would have to be issued as part of a set which contains the palladium coin and issued in an appropriately designed presentation case.
Separately, the bullion coins would be issued in a quantity deemed appropriate by the Secretary of the Treasury. These coins would be required to indicate the weight of the coin and its purity, expressed on raised lettering on the edge of the coin. The coins would be produced at any United States Mint facility other than the West Point mint, which would be used for the numismatic coins.
Finally, the bill includes some suggestions that strong consideration be given to protective and anti-counterfeiting covers for the palladium coins. In addition, further anti-counterfeiting measures are suggested.
Max must be ESP-sensitive: a few months before that. right after I ordered the UHR new St. Gaudens, I thought “why not palladium? and/or titanium?”
So I wrote to the Mint and asked them!
I haven’t heard anything back from the Mint, but I stumbled across THIS website, so here we are!
The “PAMP” bars of bullion metals are a classic; but I would hope that we have, or can find, artists and engravers who can design future classics will be working together designing coins of other metals.