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What are rhodium coins?

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Quick Answer

Rhodium coins are bullion coins made with .999 gram of rhodium manufactured by independent companies, such as American Elements, for investors, hobbyists and collectors. Rhodium is one of the rarest elements in the Earth's crust with an estimated fractional occurrence of only 0.0002 parts per million.

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Full Answer

Rhodium is usually found in nature alloyed with other similar metals. It was discovered in 1803 by William Hyde Wollaston, the same person who discovered palladium. The world's main mining sources of rhodium are located in South Africa, the Ural mountain range in the Baltic region and in North America. As of 2010, South Africa is the largest producer of rhodium in the world.

One of the most expensive metals, the price of rhodium shot up to $10,000 per ounce in the middle of 2008. Its price, however, went down sharply toward the end of that same year.

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