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This Week In Our New York Store

By Mark Schimel, New York Store Manager

Author: Mark Schimel / Tuesday, May 14, 2019 / Categories: This and That

This week a set of three coins with an extremely low mintage and in a rarely used metal came to us.  The coins were minted by the Kingdom of Tonga, an archipelago situated in the southern Pacific Ocean.  The three coins are made of Palladium, and are the first coinage of this metal from this nation. 

The large Hau denomination contains slightly over 2 ounces of this metal; only 400 of these were minted.  The Half Hau is just over one ounce and has a mintage of 513, while the smaller Quarter Hau (m400 minted) contains a touch over a half ounce of Palladium.  The coins are undated but were issued in one year only, 1967.  They were issued to commemorate the coronation of King Taufa’ahau  IV on July 4, 1967.  This king ruled from 1967-2006. 

At first glance, these coins appear copper nickel in color, but if the weight doesn’t give it away, the edge lettering “HISTORICALLY THE FIRST PALLADIUM COINAGE” certainly does.  Surprisingly, these ultra-rarities do not have any significant premium over their metal value, possibly due to the sharp rise in the price of palladium. So this is a wonderful way to invest in this metal if that is part of your strategy.  It is great to see that real treasures are always around at remarkably great values.  Let’s see what comes in next week.