Palladium is a precious metal in the platinum family that’s very useful for investment purposes, as well as for industrial purposes. Unfortunately, many people don’t know about the benefits of this metal as an investment. One of the main benefits of palladium is that it’s always in demand in the industrial world, which means that prices will never completely bottom out. Besides this, though, its industrial usefulness means that palladium acts differently from other metals and will change price points at different times compared with gold, silver, and platinum.
One of the best ways to invest in palladium is to purchase palladium coins. If you’re a beginning investor, you may not be sure of how to do this. Luckily, it isn’t difficult or confusing at all.
Your first step, as you would with any sort of precious metals investing, is to figure out where prices are at and where they’re going. Like other precious metals, and many other commodities, for that matter, palladium is a volatile metal. Its prices can change quickly and often, which means that you never know what you might pay for palladium coins from one day to the next. It can be a good idea, though, to see if prices are trending up or down just to know what to expect. You can also read up on expert opinions about this particular precious metal and where it’s going in the future.
In order to find out where prices are at the moment for palladium coins, you just have to consult a live price chart. Such a chart will definitely have the prices of this precious metal for major coins like the Canadian Palladium Maple Leaf coin. You’ll be able to see there what the wholesale price is for the coins, and then you just will have to pay the retail markup to get the coins you want when you’re ready to buy.
Finally, you simply go buy your coins. Most dealers will probably only sell them in rolls. Can’t afford a whole roll? Try splitting a roll with another investor you’re close to or asking the dealer about potential financing options. Both of these can be good ways to invest in palladium even if you don’t have a lot of spare cash for investing in precious metals at the moment. It’s a good start, even if you only start out with one or two coins.