Baucus, Tester introduce palladium coin bill
Senators’ Say Collectors’ Coin Will Help Create Good-paying Jobs, Boost Mont. Economy
(WASHINGTON, D.C.) – Montana's U.S. Senators Max Baucus and Jon Tester introduced legislation that would establish a $20 palladium collectors' coin based on the 1907 Double Eagle coin, which is often described by coin aficionados as the most beautiful coin ever produced.
The original 1907 Double Eagle coin was made of gold and designed by famed artist Augustus Saint-Gaudens. The new Double Eagle bullion coin will be uniquely composed of palladium, a precious metal similar to platinum in composition and appearance. Baucus and Tester said the new Double Eagle coin would be made from palladium from Stillwater Mine in Montana – the only palladium mine in the U.S.
"This coin is another great way to put Montana on the map," Baucus said. "Palladium is unique to the Big Sky state. Producing this coin will help create good-paying jobs and help boost the state's economy."
"Palladium really is a valuable metal because we use it to make our trucks and cars run cleaner," said Tester, noting that most palladium is currently used to make catalytic converters. "Our bill is an opportunity to expand the demand for palladium, making Montana an even bigger player in the palladium market."
A similar measure was introduced in the U.S. House of Representatives by Congressman Mike Castle (D-Del.) The Senate bill introduced by Baucus and Tester will go before the Senate Banking Committee for its consideration.