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V11 2008 INDEX
E-SYLUM ARCHIVE
LEGISLATION WOULD REQUIRE PALLADIUM COIN
Buried in the recent coinage legislation before Congress is
a bid to boost palladium consumption by requiring it as a coinage medal.
There was an article about it this week in the Great Falls Tribune.
Pending legislation requiring the government to mint a $20 coin with
palladium mined domestically would put Montana front and
center.The state has the nation's only palladium mine. Stillwater Mining Co. operates it near Nye, north of Yellowstone National Park.
Two bills, one in the U.S. House and one in the Senate, would require the Mint to reproduce a $20 coin released in 1907 as a gold piece. Palladium is used in catalytic converters installed in automobiles to reduce emissions.
Legislation requiring a palladium version passed the House unanimously on Thursday. In the Senate, a similar bill is pending before the Banking, Housing and Urban Affairs Committee.
"This coin is another great way to put Montana on the map,'' said Sen. Max Baucus, who sponsored the Senate bill along with Sen. Jon Tester, his fellow Montana Democrat. "Palladium is unique to the Big Sky state. Producing this coin will help create good-paying jobs and help boost the state's economy.''
"The resulting increase in (palladium) demand will provide a boost for Montana's mining families and the local community, and that's a great move,'' Rehberg said.
To read the complete article, see: Legislation would require palladium coin
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.
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