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Perhaps the most finely minted palladium bars on the market today, Credit Suisse Palladium Bars radiate a white shine and truly feel like the investor is holding a precious metal. Not only is their quality guaranteed by the prestigious Credit Suisse Group, but each also carries a unique serial number as is backed by the Bank of Switzerland.
Development, Introduction and History
Credit Suisse was initially established to aid in the construction of Switzerland’s railway system. Through the first several decades of its existence, the “Swiss Credit Institution” (as it was called) evolved and became an integral part of Switzerland’s development.
The company is credited with aiding in the creation of the Swiss monetary system, funding Swiss entrepreneurs, and helping to develop the reputation of Swiss banking. Today, Credit suisse is the second largest bank in Switzerland and one of the top financial services companies in the world.
Palladium investment became a more accepted version of precious metals investment when the Royal Canadian Mint released Palladium Maple Leaf Coins in 2005; however, there are no more trusted and popular palladium bars than those produced by Credit Suisse.
All Credit Suisse bars are produced at the Valcambi refinery in Switzerland.
Credit Suisse Palladium Bar Physical Characteristics
Credit Suisse bullion bars carry a distinct design and are instantly recognizable. The bars are made into a thin rectangle, with smoothed edges and minimal “flash.” The front of each bar is stamped with all important information (palladium content, palladium fineness and the bar’s unique, identifying serial number). On the 10 ounce palladium bar, for instance, the text will read 10 OUNCES, PALLADIUM, 999.5 in large print.
The simple Credit Suisse logo is featured above the large print, consisting of only the words CREDIT SUISSE inside of a rectangular box. Underneath the large print, in a smaller rectangular box, reads the French phrase “ESSAYEUR FONDEUR” (“assayer founder”). The words appear in French because the Swiss have no official language of their own.
Though Credit Suisse has created alternate designs for palladium bars featuring such monuments as the Statue of Liberty, the majority of Credit Suisse Palladium Bars feature diagonally repeating copies of the Credit Suisse logo.
The most common weight denominations for Credit Suisse Palladium Bars are 1 troy ounce and 10 troy ounces. All bars are guaranteed to be 0.9995 fine palladium.
|1 troy oz.||4.0 mm||40.0 mm||23.0 mm|
|10 troy oz.||8.1 mm||90.2 mm||40.5 mm|
Palladium deposits are rare and precious. In fact, almost all of Europe’s supply of palladium ore comes from deposits near Norilsk, Russia. Consequently, Credit Suisse Palladium Bar prices can be very sensitive to disruptions in supply. Recent years have seen investors ramp up purchases in palladium while production has been steady, hoping to avoid the large price surges that have been seen in the past.
Unlike many bullion coins, palladium bars are not used as legal tender and therefore have no face value. Still, these bars contain certain advantages over palladium coins for those looking to invest in physical palladium.
The mintage costs of bullion bars tends to be much lower than the minting costs of bullion coins. This means that the market price tends to be very close to the spot price of the underlying metal. In this way, palladium bars can be a very cost-effective way to own palladium.
Since palladium prices fluctuate daily, the value of Credit Suisse Palladium Bars will also fluctuate daily. You can check out our home page for live metals pricing.
Due to low levels of production and limited supply of palladium alternatives, Credit Suisse Palladium Bars can, at times, trade at a significant premium over the value of the palladium content.
Adding Credit Suisse Palladium Bars to an IRA
The IRS allows Individual Retirement Accounts (IRAs) that meet specific requirements to carry precious metal bullion as an investment in a portfolio. Often referred to as a “precious metals IRA”, these accounts are self-directed, and only eligible metals for inclusion are IRS-approved bars and coins.
Credit Suisse Palladium Bars are authorized to be included in a precious metals IRA. By placing real, physical palladium inside of an IRA, investors add diversification to their portfolio that is independent of fluctuations of stocks and bonds. Palladium is a more scarce metal than gold, silver or platinum; in fact, it is one of the ten least occurring elements on the surface of the earth. This rarity helps provide real, sustainable value to its investors.
Credit Suisse Palladium Bars can be added to an IRA because they meet the minimum purity requirements set forth in Internal Revenue Code section 408(b). To become an owner of a precious metals IRA, you are required to make an initial metals purchase of at least $5,000. Each subsequent metals purchase must be at least $1,000.
When you make a purchase of Credit Suisse Palladium Bars (or any IRA-designated investment metal), the IRS further mandates that all coins and/or bars be held in a qualifying “depository.” The depository is then responsible for the security and maintenance of the bullion.
Those with an existing IRA have the option of transferring or rolling over funds into a precious metals IRA.
While most are bought and sold through different retailers – such as APMEX (American Precious Metals Exchange) – Credit Suisse Palladium Bars can be purchased directly from Credit Suisse Group, and investors can even verify the authenticity of their individual bars by typing the unique serial number into the Credit Suisse website. This serves to reassure those concerned about the prospect of counterfeit bars.
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