How to Buy Palladium Bullion
So you want to buy palladium? Palladium is a precious metal with real value and makes for a compelling investment. There are a number of ways to to buy palladium bullion; from sources including dealers, brokerage firms, mints across every major region of the world, and even through eBay or Amazon.
Establish What You Are Looking For
Palladium is available as bullion in coins and bars. So which should you buy: palladium coins or bullion bars?
Coins are an effective, easy to make, easy to transport precious metal investment. The most popular palladium coin is the Maple Leaf from the Royal Canadian Mint. Quality palladium coins such as the Maple Leaf are typically 95%+ pure palladium which means the value of your coin will hold it's value at the going palladium price. This means if you own a 1 ounce palladium coin and the current spot price for palladium is $250 per ounce then you can be expect to sell your palladium to the market at that price. And in some cases for much higher, depending on demand and availability.
Palladium bars are just as an effective palladium investment. If you are a macro investor, such as a bank or a mint, bars are generally preferred because they stack. You can store them more efficiently. Historically, particularly in the case of Credit Suisse and PAMP, palladium bars have had a higher premium than palladium coins.
In the end your choice between buying palladium coins or palladium bars should ultimately be determined by the price you can get it for. Always buy palladium bullion at the best price, whether coins or bars.
That being said, there are other factors besides price that you should take into consideration before making a palladium investment. These factors include prestige, quality condition, and your source.
The prestige of your bullion is referring to characteristics such as the mint producer, the year of issuance, and rarity. For example, a coin minted and certified from a major government is generally going to have more prestige, and thus be more widely accepted, than a palladium coin produced from a smaller, private corporate mint.
The quality of your bullion you buy should be in perfect condition. Otherwise, you can obviously negotiate to pay less for something that has signs of nicks, scratches or damage.
Your source of bullion is important for primarily security. It's okay to pay a reasonable premium on your palladium if the source has unrivaled credibility. Personally I'm willing to pay a bit more to get my palladium direct from a country's certified mint than a private seller on eBay.
Where to Buy Palladium
Precious metal bullion is a practical investment. It doesn't need to be complicated. Thus, the best place to buy palladium is the most practical one depending on your location and how much money you want to invest.
The ultimate source of palladium is from the mine itself. And since mining companies do not generally sell their metals to individual investors, you'll need to pursue the following sources.
Dealers & Brokerage Firms
Across the word there exists a large network of dealers & brokerage firms who specialize in selling precious metals. Generally, a respected gold & silver brokerage firm will also have an inventory of palladium or know where to find it.
It's best to purchase palladium through a dealer or brokerage firm if you are interested in making a significant investment, such as an order of $2000 or more. Here are a number of firms I recommend:
To buy palladium from any of these firms, simply contact their sales team, indicate your interest in investing into palladium bullion, and proceed to place an order if they have palladium available.
Perhaps the easiest way to buy palladium is online. This is a good route to take if you just want to buy a small amount of palladium, such as a one ounce coin. In some cases you can buy much more - just be sure you trust the seller.
You can usually find a good variety of palladium bullion on eBay. Owners of palladium all across the world are interested in selling, and eBay is the first place that many of them choose to go to sell their product.
When buying palladium over eBay it is important to buy from a respected seller with high feedback. When you find an auction you're interested in placing a bid on - before placing that bid - first read that seller's feedback reviews from past buyers who have specifically purchased palladium or other precious metals. If they do not have a good number of reviews from other sellers who have bought precious metals from them before I highly recommend you avoid that auction in favor of a different auction that has a seller who has positive feedback reviews from previous sales of precious metals on eBay.
Craigslist is a local community powered listing for anything from Playstations, cars, jobs, or even romance. People on Craigslist sell just about anything and thus it can be a way to find palladium sellers. The advantage of using Craigslist is that, unlike eBay, it's free, you're not required to use a centralized system, and it's easier to connect with people in your local community. That means there is a chance that someone in your area may be selling palladium - and you might even be able to meet them in person to make the exchange.
To find palladium on Craigslist, navigate to your local community section using the website. Or, a method I prefer, is to search Craiglist with Google using this handy search command. Go to Google and type the search phrase: site:craigslist.org palladium bullion
Since Google's spiders have a near instant crawl of any listing on Craigslist, the search results from this command will bring up any palladium bullion listings on Craigslist.
More Tips on Buying Palladium
Some closing tips on buying palladium: request prompt delivery, use shipping insurance, and finally - store your palladium bullion in a secure location such as a safe or personal vault.