Part of the six-member platinum metals group, palladium is a rare precious metal available for purchase in many forms. One of the more convenient ways to purchase palladium in physical or bullion form is as a bar. If you’ve opted to invest in palladium bars, make sure to work with a reputable precious metals dealer such as First National Bullion. Scottsdale collectors should take the following information into account when it comes to the value and worth of palladium bars and what factors to consider with purchases of this nature.
Keep an Eye on Spot Prices
The first step to take when determining what a fair price is for a palladium bar is to check the spot price. Spot price refers to the current market value of a tradable or buyable commodity. In this case, palladium has an average spot price of around $2,500 as of mid-2021, according to Moneymetals.com. Incidentally, this puts palladium in bar form far ahead of bar prices for gold, silver, and platinum—likely because palladium is considered one of the rarest precious metals on earth.
Decide What Size Bar to Purchase
Because of the high value and rarity of palladium, a popular bar size to purchase is single-ounce palladium bars. Going by prices listed on Moneymetals.com, a 1 ounce palladium bar averages about $230 per bar. However, it’s often possible to get a lower per-bar rate if you purchase bars in larger quantities. If you opt for a 10 ounce palladium bar, the average price per bar is nearly $1,900. Should you prefer more budget-friendly purchase options, consider 1 gram palladium bars. It’s often possible to find bars of this weight in the $50–$60 range, depending on the specific seller. Again, the price per bar with single-gram bars may be lower if you purchase more than one bar.
Look for Deals & Other Opportunities to Save
With precious metals purchases, it’s not a good idea to be impulsive with what you buy unless you’re absolutely sure you’re getting a fair deal. Otherwise, take some time to look for any deals or specials from reputable sellers. For instance, some sellers offer portfolios that include gram-sized bars of palladium and other popular precious metals in one convenient package. Also, if bars you want to purchase are out of stock, use any “alert” options that might be available to be notified when the bars are back in stock. With in-person sellers, ask to be notified when more bars arrive. You may be able to lock in a lower rate if you do this.
Have Bars You Already Own Appraised
If you already have palladium bars and you wish to sell them, be just as diligent about doing your homework. Start by having any bars you currently own appraised by a reliable, impartial source. Doing so will give you documentation detailing the condition, purity, and overall value of each bar—information you can use to negotiate a fair price with a potential buyer.
Whether they’re looking for the best place to buy or sell palladium bars, gold coins, or silver bullion, Scottsdale precious metals collectors can rely on the trustworthy professionals at First National Bullion. We can answer all your questions and help you find all the information you need on how a variety of precious metals can be a valuable part of your investment portfolio. Give one of our experienced dealers a call today at (480) 546-5089.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.