World's first-ever rhodium bullion coin arrives 21st May 2009

FROM:
http://www.platinum.matthey.com/medi..._19181446.html

World's first-ever rhodium bullion coin arrives 21st May 2009

Rhodium bullion coins are set to hit the market for the first
time ever in the next few weeks, according to a new report
published yesterday (21st May).

The Cohen Mint produced the first grade .999 rhodium coin
towards the end of last month and is planning to sell them
initially at a one-gram size for about $100.

(Story Image - Coin)
http://www.platinum.matthey.com/uplo...odium-coin.jpg

In an interview with GoldAndSilverBlog.com, mint owner and
operator Eitan Cohen explained that he is thrilled to be
developing such a novel product for investors.

He told the website: "The work involved in getting this
project off the ground has been tremendous, easily the
biggest thing our company has ever done.

"This is really an historic moment, where a truly unique
precious metal product comes onto the market, and we're
just excited to be the ones to have pioneered it."

Mr Cohen also revealed that the method used to manufacture
the coins was the result of a "eureka" moment after
exhaustive tests had appeared to suggest that it was not
possible.

He explained that the process was very different to and
more complicated than the way in which coins are made
from other metals, as rhodium is far more "hard, brittle
and downright stubborn".

Furthermore, he noted that rhodium - which slipped from
$10,000 per oz last July to under $1,000 per oz in a
matter of months - will be "on the vanguard" of the pgm
demand revival.

"Internal combustion engines are not going away any time
soon and if anything, emissions standards are only going
to get stricter," he added.

"This metal, along with platinum and palladium, will feel
a resurgence once the economy begins to pick back up and
consumer confidence reawakens."

The mint is capable of producing as many coins as required
and will be selling them individually and on a wholesale
basis, with a sealed plastic coin slab for encasing plus
a certificate of authenticity.

According to figures compiled by Johnson Matthey, total
global rhodium supply was just 695,000 in 2008, while
total demand for the metal was 689,000 oz.


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