Most people who walk into a Tualatin coin shop talk about gold near about $4,175 an ounce, or silver near about $60, on our site's ticker. Sitting next to those numbers is another line that often gets a blank look: palladium, near about $1,150. It is a real precious metal. It is not a gold twin, and it is not the same as platinum either.

Here is what palladium is, why it moves the way it does, how to tell it apart from other white metals in a jewelry box, and what Local Coin Company can do if you are selling. This is educational information, not financial or legal advice.

What palladium is (and is not)

Palladium is one of the platinum-group metals, the same family as platinum, rhodium, ruthenium and iridium. The U.S. Geological Survey says the leading U.S. use for those metals is in catalytic converters that cut auto emissions. They also show up in chemical and petroleum catalysts, electronics, dental and medical devices, glassmaking, jewelry and investment products.

On looks alone, palladium is a cool silvery-white metal, closer to platinum than to gold. That is why estate jewelry, white wedding bands and mixed scrap lots can hide palladium next to platinum or white gold. Color is not a test. Marks and metal testing are.

Why the price does not track gold

Gold often moves with the dollar, real yields and safe-haven demand. Palladium's center of gravity is different. Johnson Matthey's May 2026 PGM Market Report, a standard industry forecast, puts automotive use at about 7.8 million ounces of palladium demand in 2026, out of about 9.2 million ounces of total demand. In plain words: most new palladium demand still goes into cars, especially gasoline powertrains.

That same report says palladium ran deficits from 2012 through 2025 and could move into a small surplus in 2026. Johnson Matthey forecasts demand down about 9% this year as gasoline-car production softens and as ETF investment turned negative early in the year, while primary mine supply also falls. Recycling from end-of-life catalytic converters is expected to rebound. The report's table shows a 2026 stock movement of about +214,000 ounces, the surplus side of that ledger.

Supply is concentrated. USGS figures for 2025 put Russia as the world's leading mined-palladium producer at an estimated 84,000 kilograms, with South Africa next at about 70,000 kilograms. U.S. mine output is small by comparison. For 2021–24, USGS lists the main U.S. palladium import sources as South Africa (37%) and Russia (36%). When auto production, recycling flows or those two mining countries shift, palladium can move without gold needing to.

Palladium jewelry and the hallmarks to look for

If you are sorting a relative's jewelry box, do not assume every white band is white gold. In the United Kingdom, palladium has been a hallmarked precious metal since 2010. The British Hallmarking Council and GOV.UK note that UK assay offices can mark palladium at 500, 950 or 999 parts per thousand, with 950 the common jewelry standard, for articles over 1 gram. U.S. pieces may show marks such as Pd, Pd950 or 950Pd, but marks vary and fakes exist, so a stamp is a clue, not a final answer.

Platinum jewelry is different metal and usually carries Pt or PLAT marks. White gold is still gold and should carry karat or fineness marks such as 14K or 585. Our guides to gold hallmarks and jewelry versus bullion cover the gold side of that puzzle. For mixed scrap, our post on what dealers look at in scrap gold is the practical companion.

Bullion, scrap and what we buy

Local Coin Company buys gold, silver, platinum, palladium, jewelry, diamonds, coin collections, sterling silverware and dental gold for cash. We list live spot for palladium on the homepage ticker. We sell platinum bullion on our platinum page (bars and one-ounce Maple Leaf, Eagle and Kangaroo coins). Palladium is mainly a buy side for us: if you have palladium jewelry, industrial scrap or bullion, bring it in and we will test and quote it. For platinum's own market story, see our earlier post Platinum's Turn?

Spreads on smaller PGM markets are often wider than on gold Eagles. That is normal. A fair quote starts with verified metal content, not with a retail jewelry receipt.

Our take (opinion): treat it as a specialist metal

In our view, palladium belongs in the "know what you own" bucket more than in a first-time stacker's shopping list. Gold and silver remain the languages most Portland-area buyers and sellers speak. Palladium is worth learning because it shows up in white jewelry and industrial scrap, and because its price can diverge sharply from gold when auto demand or mine supply shifts. We do not think most households need a palladium "position." We do think families clearing an estate should stop before they toss white metal into a mixed melt pile or accept a flat jewelry offer that ignores palladium content.

Selling palladium in Tualatin

Bring pieces sorted if you can, leave stones in place unless we ask otherwise, and skip any home acid tests that can scar jewelry. Our coin shop visit checklist covers the basics. For storage after you buy metal, see our home storage guide. We are at 19354 SW Boones Ferry Rd., Tualatin, OR 97062. Normal trading hours are Monday through Friday 8 AM to 4 PM and Saturday 8 AM to 3 PM. Appointments have priority, so call 503-855-5255 to schedule.

Sources: U.S. Geological Survey, Mineral Commodity Summaries 2026 (Platinum-Group Metals, February 2026); Johnson Matthey PGM Market Report (May 2026) and related press release (May 14, 2026); British Hallmarking Council / GOV.UK palladium hallmark notice (2010); Kitco AM Report (October 12, 2026); localcoinco.com prices as of October 12, 2026.