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25 Dollars - Elizabeth II San Antonio

Issuer Bermuda
Year 1988
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Value 25 Dollars
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Obverse lettering BERMUDA ELIZABETH II RDM
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Edge Reeded
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Additional information

Bermuda's 1988 palladium issue was part of a short-lived commercial experiment by several Commonwealth mints capitalizing on palladium's brief investment coin boom of the late 1980s. The "San Antonio" designation refers to the ship, one of the vessels from the 1609 Sea Venture expedition — the fleet whose wreck on Bermuda's reefs led directly to permanent English settlement of the islands.

Palladium coinage from this period was largely discontinued within a few years as investor demand collapsed and the metal's price volatility made bullion programming impractical. Surviving examples saw almost no circulation.

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