A US private mint is to produce limited-edition coins and bars in rhodium which will be available to collectors and private investors as well as financial institutions.

The mint-certified high purity items will be marketed under the product group name AE Bullion, manufacturers American Elements has announced.

Customers are likely to include hedge funds, currency reserves and exchanged traded funds (ETFs) "which will be able to use them to establish tradable securities and to allow for exposure and controlled risk to commodity and industrial demand fluctuations", American Elements claims.

The products also provide a similar level of assurance is provided to private investors, who "can now take direct physical title and possession to these metals with risk exposure to movements in the world spot price," according to the firm.

As well as rhodium, the coins and bars will also be cast in around 60 other metals including tellurium, indium, hafnium, scandium as well as the 14 rare earth elements.

The launch of the new coins and bars comes as prices for rhodium hit a record high of $7,025 per ounce, buoyed by demand from the automotive and glass-making industries. – Platinum today