Most think of gold, silver, and platinum when they think of precious metals investments. That’s because over the years, these have come to be considered by investors as the safest and most consistent precious metal commodities. But there is a new kid on the block, and you would be remiss to not consider investing in palladium while it is still profitable. While palladium can be riskier than other precious metals, the gains that have been made in the market in recent years have led to increased interest in this relatively unknown commodity. In fact, it has become so popular that many are starting palladium coin collections in the way that others create gold bullion coin collections.
What is the advantage of a palladium coin collection? Palladium has seen steady increases in price in the last two years, leaping from $200 an ounce to an unheard of $800 an ounce in 2011. These kinds of gains should not be ignored. Owning a small palladium coin collection could pay you back in ways you never imagined. One reason for the jump in value can be traced to palladium’s many industrial uses, the greatest of which is in the creation of catalytic converters by the automobile industry. In jewelry, palladium is often used a replacement for silver and as a component in the creation of white gold.
Your palladium coin collection is a safer investment than others for many reasons. The best reason to start a palladium coin collection is that you can store your wealth at home, in a portable case if you want to. Palladium bars and coins are not bulky, and they are liquid like other precious metals investments. You should be certain that when you purchase palladium coins or bars, you are only using reputable dealers. Get certified coins or bars at all times, because only then will you be able to verify that you are not being defrauded. It is a good idea to do your own background checking before you do business with online dealers. While there are many reputable dealers, there are also some fraudulent business out there that would love to have your money. Check customer reviews on the business’s website and call the Better Business Bureau for the dealer’s rating.
To get started investing in precious metals, call a trusted financial advisor, preferably one who has experience trading in precious metals. Every investment is a risk, so it is a good idea to have guidance before you put your money in any kind of investment.