World's first-ever rhodium bullion coin arrives21stMay2009

Rhodiumbullion coins are set to hit the market for the first time ever in thenext few weeks, according to a new report published yesterday (21stMay).

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

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

Hetold the website: "The work involved in getting this project off theground has been tremendous, easily the biggest thing our company hasever done.

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

Mr Cohen alsorevealed that the method used to manufacture the coins was the resultof a "eureka" moment after exhaustive tests had appeared to suggestthat it was not possible.

He explained that the process was verydifferent to and more complicated than the way in which coins are madefrom other metals, as rhodium is far more "hard, brittle and downrightstubborn".

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

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

"Thismetal, along with platinum and palladium, will feel a resurgence oncethe economy begins to pick back up and consumer confidence reawakens."

Themint is capable of producing as many coins as required and will beselling them individually and on a wholesale basis, with a sealedplastic coin slab for encasing plus a certificate of authenticity.

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

Source: