For anyone wondering what the hell Rhodium is (like I was) this is what I found.  It is one of the rarest precious metals and is part of the platinum group. It is often used in alloys with Platinum or Palladium to make corrosion resistant coatings.  Its most common use today is in the catalytic converters of cars.

I am posting this in pure afternoon boredom and don't know the seller at all.

Edit: O, and rhodium compounds can stain your skin.

Only in powder form, usually a powder sponge in a plastic container is the default storage method. It is used in jewelry because it is very resistant to corrosion and is very hard.

Find me some one retailing bullion at that price. Additionally this has collector value because it is the first year issue, not to mention it will be the first rhodium bullion sold for BTC. Will sign a C.O.A. if the buyer likes verifying its historical value.

Does that still make it worth a premium 4 times the spot price?    I was interested when I read your headline but geez man, your aren't selling rare dimes.

The coin looks nice...

I was wondering .. as you deal in rare metals.... I've been after a first issue coin of Unobtainium ....

I'm not surprised.

I believe Rhodium Sponge is a moniker given to the powdered form of Rhodium, there's no actual sponge.

Regardless, this is cool.

Physical delivery for Rhodium is always in the powdered form, for industrial usage. The advent of coins and bullion is mostly a retail market phenomenon after the closing of the gold window and the end of Bretton Woods.

Precious metal coins, Rhodium included, always trade at a premium to the spot price. Platinum and Rhodium in particular, being difficult metals to work with (requiring a high temperature to melt and special tools) trade at a larger premium over spot than gold or silver. Considering that the supply of Rhodium coins is extremely small, the premium over spot for Rhodium specie is the highest of all the precious metals.

TL;DR version: An offer of 2% over spot is unreasonable.

I would be interested if I could get a more reasonable pricing structure in my opinion.  I understand how the physical market works on these things.  Your pricing is still out of line even for such a rare material. 

Does wire transfer count as "electronic"?

Edit: Because I can go on Cohen Mint's own website and buy a 1g rhodium coin for 110$, including wire transfer fees and shipping.