The United States Congress authorized the creation of the Palladium Eagle coin through the Eagle Palladium Bullion Coin Act of 2010, which was signed into law by President Barack Obama on December 14, 2010, as Public Law 111-303.
The Palladium Eagle will feature the same obverse design as the iconic Mercury Dime. Under the Act, the Secretary of the Treasury is tasked with commissioning an independent marketing study to assess whether there is enough public interest for the U.S. Mint to begin producing the Palladium Eagle coins. The study must demonstrate that demand is sufficient to cover the costs of the program, ensuring that it will be self-sustaining and not result in any taxpayer burden. If these conditions are met, the Treasury Secretary is required to begin minting the Palladium Eagles within one year of submitting the study to Congress.
The Palladium Eagle will be struck from one ounce of .9995 pure palladium, marking the introduction of a fourth precious metal American Eagle coin. It will join the ranks of the Gold, Silver, and Platinum Eagles, which were first issued by the U.S. Mint in 1986, 1986, and 1997, respectively. Specifications such as the coin’s diameter and thickness will be determined by the Treasury Secretary.
The Act mandates that both the obverse and reverse designs feature the work of the renowned artist Adolph A. Weinman. The obverse will showcase Weinman’s famous Winged Liberty design, which originally appeared on the Mercury Dime from 1916 to 1947. The reverse design will feature a lesser-known image by Weinman, which was used on the reverse of the 1907 American Institute of Architects Medal.
