The American Eagle Palladium Bullion Coin Act of 2010, which received approval from the Senate on November 30th, has been signed into law by US president Barack Obama.

As a result of the act, the US Treasury has been authorised to produce coins made of palladium bullion coins to be sold to investors.

Their production is dependent on an independent marketing study demonstrating that there is adequate demand to ensure the coins can be minted and issued at no cost to taxpayers.

The palladium coins, which will have a face value of 5 (£15.98), will bear the Winged Liberty design last used on the "Mercury dime" on the obverse side and a high-relief version of the 1907 American Institute of Architects medal on the reverse.

"As the price of gold skyrockets, palladium provides investors with an option for an alternative precious metal," said congressman Denny Rehberg earlier this month, following the news that the Act had received Senate approval.

Source:

Statement by the Press Secretary(14/12/10)

Update to story - Palladium coin act advances to White House 3rd December 2010.

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