WASHINGTON, D.C. – Montana’s Congressman, Denny Rehberg, today praised Senate passage of his legislation to instruct the U.S. Mint to create a Palladium Bullion Coin.  The coin is not only highly desired among collectors, but will provide investors with a viable alternative to gold and silver.  Montana is the only source of palladium in the United States, which is mined at two locations by the Stillwater Mining Company.  The mine was dealt a blow when, after taking a massive taxpayer bailout, General Motors decided to stop buying American palladium in favor of metals mined overseas.

“I’m pleased that my legislation cleared the final hurdle and is now destined for the President’s desk,” said Rehberg.  “This is a good bill for Montana that will empower the private sector to create good, well-paying jobs.  As the price of gold skyrockets, Palladium provides investors with an option for an alternative precious metal.”

Rehberg’s legislation creates a $25 investment-grade palladium coin, stipulating that the metal used to make the coin must come from natural deposits in the United States.  The front of the coin will feature the popular “Winged Liberty” design from the 1916 Mercury Dime and the back will be a high-relief version of the 1907 American Institute of Architects medal.  The coin will include the inscriptions “Liberty,” “In God We Trust,” and “United States of America”.

“Stillwater Mining Company appreciates the initiative and sponsorship of Congressman Denny Rehberg in moving the recently passed Palladium Coin Bill through Congress,” said Frank McAllister, Chairman & CEO, Stillwater Mining Company,  “An official United States palladium coin will be highly valued by collectors and investors alike.  We look forward to the minting of the new palladium coin by the U.S Treasury.”