Palladium specs and Reference docs.pdf

Tentative Palladium Coin Specifications Rev. Date: 1-Sep-11

Coinage Specifications Face Value

Weight min. (grams, troy ounces) 31.104 1.000 Tolerance (+/-) -0.030 -0.001 Coin Diameter (root dia.) 30.000 1.181 Strip Gauge (mm, in) (min) 3.662 0.144 Tolerance (+/-) controlled by weight Roughness (max. um, uin) (min) 0.40 5 Cut Diameter (mm, in) 30.00 1.18 Tolerance (+) 0.05 0.0020 Tolerance (-) 0.00 0.0000 Upset Diameter 29.80 1.1732 Tolerance (+/-) 0.05 0.0020 Upset Dimension "A" (mm, in.) 2.44 0.0961 Ratio (Cut Diameter/ Gauge) 8.19 Flatness (mm, in) 0.08 0.003 Upset Diameter: Across Flats (mm, in) 39.40 1.551 Tolerance (+/-) 0.05 0.0020 Upset Thickness (mm, in) TBD Tolerance (+/-) Upset Radius (mm, in) 8.38 0.330 Upset Angle (deg) 45.00 Hardness annld (Scale,min_max) half hard HR15T 43-54 Grain Size (mm, in) max 0.150 0.0059 Target (mm, in) 0.05 0.0020 Composition (Nom, Tol +/-) (note 1) Palladium (min.) 0.9995 Total Other Platinum Group Metals (max) 0.0003 Total Other Elements per ASTM B-589

Density (g/cm3, to/in3) per ASM 12.023

Content (grams, troy ounces) 31.104 1.0000 Palladium (min; grams, troy ounces) 31.088 0.9995 Trace Elements 0.016 0.0005 Total 31.104 1.0000

Note: Trace elements to be held to a minimum per ASTM B-589

$25

Designation: B589 – 94 (Reapproved 2005)

Standard Specification for Refined Palladium1

This standard is issued under the fixed designation B589; the number immediately following the designation indicates the year of original adoption or, in the case of revision, the year of last revision. A number in parentheses indicates the year of last reapproval. A superscript epsilon (´) indicates an editorial change since the last revision or reapproval.

1. Scope

1.1 This specification covers refined palladium as sponge, cast bar, and wrought forms (Note 1) in one grade as follows:

1.1.1 Grade 99.95 (UNS PO3995)— Palladium having a

purity of 99.95 %.

NOTE 1—Other forms of unfabricated palladium of commerce are not to be excluded under this specification.

NOTE 2—For the purposes of determining conformance with this specification, an observed value obtained from analysis shall be rounded to the nearest unit in the last right hand place of figures used in expressing the limiting value, in accordance with the rounding method of Practice E29.

1.2 The values stated in inch-pound units are to be regarded

as the standard. The values given in parentheses are for information only.

1.3 This standard does not purport to address all of the

safety concerns, if any, associated with its use. It is the responsibility of the user of this standard to become familiar with all hazards including those identified in the appropriate Material Safety Data Sheet for this product/material as pro-vided by the manufacturer, to establish appropriate safety and health practices, and determine the applicability of regulatory limitations prior to use.

2. Referenced Documents

2.1 ASTM Standards:2

E29 Practice for Using Significant Digits in Test Data to Determine Conformance with Specifications

3. Materials and Manufacture

3.1 The metal may be produced by any refining process that

yields a product capable of meeting the chemical requirements of this specification. The purchaser, upon request, shall be informed of the refining process used.

3.2 The surfaces of bars and wrought forms shall exhibit

quality generally acceptable to the trade.

4. Chemical Composition

4.1 The refined palladium shall conform to the requirements

as to the chemical composition prescribed in Table 1.

5. Sampling

5.1 The value of this material is such that special attention must be paid to sampling procedures. The purchaser and manufacturer shall agree upon the sampling procedures used.

5.2 Lot Size—Sampling lots shall consist of the following:

5.2.1 Sponge—A single refining lot, and

1 This specification is under the jurisdiction of ASTM Committee B02 on Nonferrous Metals and Alloys and is the direct responsibility of Subcommittee B02.05 on Precious Metals and Electrical Contact Materials.

Current edition approved May 1, 2005. Published June 2005. Originally approved in 1973. Last previous edition approved in 1999 as B589 – 94 (1999)´1.

DOI: 10.1520/B0589-94R05.

2 For referenced ASTM standards, visit the ASTM website, www.astm.org, or contact ASTM Customer Service at service@astm.org. For Annual Book of ASTM Standards volume information, refer to the standard’s Document Summary page on the ASTM website.

TABLE 1 Chemical Requirements

ElementA Composition, %

Grade 99.95

(UNS PO3995)

Palladium, min (by difference) 99.95 Platinum, max ...

Rhodium, max ...

Ruthenium, max ...

Iridium, max ...

Total platinum group metals other than palladium, max 0.03 Gold, max 0.01 Silver, max 0.01 Lead, max 0.005 Tin, max 0.005 Zinc, max 0.0025 Iron, max 0.005 Copper, max 0.005 Silicon, max 0.005 Magnesium, max 0.005 Calcium, max 0.005 Aluminum, max 0.005 Nickel, max 0.005 Chromium, max 0.001 Cobalt, max 0.001 Manganese, max 0.001 Antimony, max 0.002

A By agreement between manufacturer and purchaser analyses may be required and limits established for elements or compounds not specified in this table.

Copyright © ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959, United States.

http://dx.doi.org/10.1520/E0029 http://dx.doi.org/10.1520/E0029 http://www.astm.org/COMMIT/COMMITTEE/B02.htm http://www.astm.org/COMMIT/SUBCOMMIT/B0205.htm

5.2.2 Other Forms— A single melt or primary consolida-

tion.

6. Method of Analysis

6.1 Pending the development of standard ASTM methods of

chemical or spectrographic analysis, or both, the methods to be used shall be a matter of agreement between the manufacturer and the purchaser.

7. Rejection and Rehearing

7.1 Material that fails to conform to the requirements of this specification may be rejected. Rejection should be reported to the producer or supplier promptly and in writing. In case of dissatisfaction with the results of the test, the producer or supplier may make claim for rehearing.

7.1.1 If the palladium satisfies the requirements of this

specification, it shall not be rejected for defects in the products in which it is used.

7.2 Investigation of Claims—In a question of chemical

composition, a new sample shall be drawn by representatives of both parties in accordance with Section 5. The properly mixed and quartered sample shall be divided into three parts, each of which shall be placed in a sealed package, one for the manufacturer, one for the purchaser, and one for an umpire, if necessary.

8. Product Marking

8.1 The material shall be legibly identified by mark, label, or tag with the following information: palladium (Pd) Grade_____ , lot or melt number, and weight to the nearest

0.001 troy oz (0.03 g).

9. Keywords

9.1 palladium; refined palladium; sponge

ASTM International takes no position respecting the validity of any patent rights asserted in connection with any item mentioned in this standard. Users of this standard are expressly advised that determination of the validity of any such patent rights, and the risk of infringement of such rights, are entirely their own responsibility.

This standard is subject to revision at any time by the responsible technical committee and must be reviewed every five years and if not revised, either reapproved or withdrawn. Your comments are invited either for revision of this standard or for additional standards and should be addressed to ASTM International Headquarters. Your comments will receive careful consideration at a meeting of the responsible technical committee, which you may attend. If you feel that your comments have not received a fair hearing you should make your views known to the ASTM Committee on Standards, at the address shown below.

This standard is copyrighted by ASTM International, 100 Barr Harbor Drive, PO Box C700, West Conshohocken, PA 19428-2959, United States. Individual reprints (single or multiple copies) of this standard may be obtained by contacting ASTM at the above address or at 610-832-9585 (phone), 610-832-9555 (fax), or service@astm.org (e-mail); or through the ASTM website (www.astm.org).

B589 – 94 (2005)

124 STAT. 3275 PUBLIC LAW 111–303—DEC. 14, 2010

Public Law 111–303 111th Congress

An Act To authorize the production of palladium bullion coins to provide affordable opportu-nities for investments in precious metals, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the ‘‘American Eagle Palladium Bul-lion Coin Act of 2010’’.

SEC. 2. PALLADIUM COIN.

Section 5112 of title 31, United States Code, is amended—

(1) in subsection (a), by adding at the end the following new paragraph;

‘‘(12) A $25 coin of an appropriate size and thickness, as determined by the Secretary, that weighs 1 troy ounce and contains .9995 fine palladium.’’; and

(2) by adding at the end the following new subsection:

‘‘(v) PALLADIUM BULLION INVESTMENT COINS.—

‘‘(1) IN GENERAL.—Subject to the submission to the Sec-retary and the Congress of a marketing study described in paragraph (8), beginning not more than 1 year after the submis-sion of the study to the Secretary and the Congress, the Sec-retary shall mint and issue the palladium coins described in paragraph (12) of subsection (a) in such quantities as the Sec-retary may determine to be appropriate to meet demand.

‘‘(2) SOURCE OF BULLION.—

‘‘(A) IN GENERAL.—The Secretary shall acquire bullion for the palladium coins issued under this subsection by purchase of palladium mined from natural deposits in the United States, or in a territory or possession of the United States, within 1 year after the month in which the ore from which it is derived was mined. If no such palladium is available or if it is not economically feasible to obtain such palladium, the Secretary may obtain palladium for the palladium coins described in paragraph (12) of sub-section (a) from other available sources.

‘‘(B) PRICE OF BULLION.—The Secretary shall pay not more than the average world price for the palladium under subparagraph (A).

‘‘(3) SALE OF COINS.—Each coin issued under this subsection shall be sold for an amount the Secretary determines to be appropriate, but not less than the sum of—

‘‘(A) the market value of the bullion at the time of sale; and

Deadline.

Deadline.

31 USC 5101

note.

American Eagle Palladium Bullion Coin Act of 2010.

Dec. 14, 2010 [H.R. 6166]

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124 STAT. 3276 PUBLIC LAW 111–303—DEC. 14, 2010

‘‘(B) the cost of designing and issuing the coins, including labor, materials, dies, use of machinery, overhead expenses, marketing, distribution, and shipping.

‘‘(4) TREATMENT.—For purposes of section 5134 and 5136, all coins minted under this subsection shall be considered to be numismatic items.

‘‘(5) QUALITY.—The Secretary may issue the coins described in paragraph (1) in both proof and uncirculated versions, except that, should the Secretary determine that it is appropriate to issue proof or uncirculated versions of such coin, the Sec-retary shall, to the greatest extent possible, ensure that the surface treatment of each year’s proof or uncirculated version differs in some material way from that of the preceding year.

‘‘(6) DESIGN.—Coins minted and issued under this sub-section shall bear designs on the obverse and reverse that are close likenesses of the work of famed American coin designer and medallic artist Adolph Alexander Weinman—

‘‘(A) the obverse shall bear a high-relief likeness of the ‘Winged Liberty’ design used on the obverse of the so-called ‘Mercury dime’;

‘‘(B) the reverse shall bear a high-relief version of the reverse design of the 1907 American Institute of Architects medal; and

‘‘(C) the coin shall bear such other inscriptions, including ‘Liberty’, ‘In God We Trust’, ‘United States of America’, the denomination and weight of the coin and the fineness of the metal, as the Secretary determines to be appropriate and in keeping with the original design.

‘‘(7) MINT FACILITY.—Any United States mint, other than the United States Mint at West Point, New York, may be used to strike coins minted under this subsection other than any proof version of any such coin. If the Secretary determines that it is appropriate to issue any proof version of such coin, coins of such version shall be struck only at the United States Mint at West Point, New York.

‘‘(8) MARKETING STUDY DEFINED.—The market study described in paragraph (1) means an analysis of the market for palladium bullion investments conducted by a reputable, independent third party that demonstrates that there would be adequate demand for palladium bullion coins produced by the United States Mint to ensure that such coins could be minted and issued at no net cost to taxpayers.’’.

SEC. 3. BUDGETARY EFFECT.

The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this Act, submitted for printing in the

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124 STAT. 3277 PUBLIC LAW 111–303—DEC. 14, 2010

LEGISLATIVE HISTORY—H.R. 6166:

CONGRESSIONAL RECORD, Vol. 156 (2010):

Sept. 29, considered and passed House.

Nov. 30, considered and passed Senate.

Æ

Congressional Record by the Chairman of the House Budget Com-mittee, provided that such statement has been submitted prior to the vote on passage.

Approved December 14, 2010.

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