Investing in Palladium

Palladium is a silvery-white metal used in electronics, jewelry, and automobiles. It is an important component in catalytic converters, vehicle devices that convert toxic pollutants in exhaust gas to less toxic pollutants. Because it is so rare, palladium is considered a precious metal and draws investment interest. Today, the largest supplies of palladium are found in South Africa, Montana, Russia and Ontario.

Palladium is a rare and lustrous metal that was named after an asteroid. Scientist William Hyde Wollaston noted the discovery in his lab book in 1802 and purified the substance until another individual turned it into an alloy.  It is part of the platinum group of metals and has the lowest melting point of these metals – and it is the least dense. It has the unique ability to become soft or hard, depending on the temperature that is applied to it.

Palladium is used in a number of applications. The most common use of the precious material is in automotive catalytic converters – where it helps to convert harmful vehicle emissions into substances that are much more benign to the environment. It has also been used in the manufacture of spark plugs for aircraft and high performance vehicles. The second most significant use of palladium is in electronics manufacturing, where the material is used as an electrode. It is also used in plating certain electronic components.

There are several practical applications of the material – including for medical purposes. Palladium is used in dentistry to help minimize corrosion and increase the luster of a final restoration. It has also been used as a medicine in past applications, as well as to manufacture surgical instruments and to make blood sugar test strips for diabetics. Scientific applications include using the material to store hydrogen and as part of cold fusion experiments.

Palladium is recognized for its beautiful white coloring. It has been used as a precious metal in jewelry for over 75 years, often replacing platinum when making white gold. It has also been used to make belt buckles and watches.

Due to its relative rarity and its variety of applications, palladium has maintained interest from investors for many years, even withstanding volatile changes in the market. However, many investors are unaware that palladium coins and bars can be added to a self-directed IRA. Canadian Maple Leaf Palladium Coins and PAMP Suisse Palladium Bars are two popular choices.

To learn more about your options for adding palladium to your retirement account, call 1-800-326-9598 and speak with a precious metals specialist.

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