WASHINGTON – Montana’s Congressman, Denny Rehberg, today led House colleagues in supporting legislation which requires the United States Treasury to mint a 1907 Augustus Saint-Gaudens palladium bullion coin.  Montana is the only source of palladium in the United States.

“Mining is an important part of the heritage of our state and the precious metal palladium is one mineral that makes our mining industry unique,” said Rehberg, a member of the House Appropriations Committee.  “This bill will create a new bullion coin, minted from a resource produced solely in our backyard.  The resulting increase in demand will provide a boost for Montana’s mining families and the local community and that’s a great move.”

The Rehberg-sponsored H.R. 5614 requires the reproduction of the Augustus Saint-Gaudens $20 coin which was minted in 1907.  It is widely considered one of the most beautiful U.S. coins ever minted.  Though the original coin was made of gold, the new coins would be made from palladium, a precious metal produced exclusively in two southern Montana mines operated by the Stillwater Mining Company. Production of the new coin would begin January 1, 2009.

“The legislation creating an Ultra-High Relief Saint-Gaudens palladium bullion coin is terribly exciting for the men and women of the Stillwater Mining Company of Montana who proudly produce palladium from the Beartooth Mountains immediately north of Yellowstone National Park,” said Frank McAllister, Chairman & CEO of the Stillwater Mining Company.  “I’d like to thank Congressman Rehberg for supporting this important bill.”

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