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The Soviet Union's palladium bullion coin, struck from 1989 to 1995 to monetise the country's dominant position in palladium mining, and the only sovereign palladium coin of its era. Legal tender at 25 rubles, 1 oz of .999 fine palladium, 37 mm across, issued in both brilliant uncirculated and proof finishes with 1/2 oz and 1/4 oz sizes alongside. Production ended in 1995 and no palladium coin has been struck by Russia since, so the series is a fixed, collectible supply.
Russian Palladium Ballerina melt value tracks palladium spot price directly — this chart is the same live palladium price used to calculate the melt value above, so you can see the trend behind today's number.
What is actually struck on each face, and who designed it.
The Soviet state emblem — hammer and sickle over a globe within a wheat wreath, star above — with "СССР", "25 РУБЛЕЙ" and the date on 1989-1991 coins; from 1992 the Bank of Russia's double-headed eagle replaced it.
A ballerina in a tutu, in a different pose each year, with "РУССКИЙ БАЛЕТ" (Russian Ballet) and the palladium content "1 oz Pd 999". The 1989-1990 coins show Odette from Swan Lake.
The USSR produced most of the world's palladium (Norilsk still does today) and in 1989, with hard currency scarce, began striking it into 25-ruble bullion coins celebrating Russian ballet. The Moscow and Leningrad mints continued the series through the collapse of the Soviet Union, changing the state emblem on the obverse in 1992 but keeping the ballerina.
Each date carries a new ballerina pose — the 1989 and 1990 coins depict Odette from Swan Lake — which turned a bullion issue into a seven-coin set. Both BU and proof versions exist; proofs in original Goznak packaging with certificates bring the highest prices, while BU coins trade closer to palladium melt.
1 troy ounce (31.1 g) of .999 fine palladium, 37 mm diameter, 3 mm thick, 25 rubles face value. Because these are 30-year-old coins that have often been handled, check weight and look for the fineness stamp. The melt value on this page is a firm floor; sale prices for scarce dates and proofs run well above it.
About the Russian Palladium Ballerina
At the current palladium spot price of $1,288.63/oz, the melt value of a Russian Palladium Ballerina (1 troy oz, .999 fine palladium) is approximately $1,288.63. This updates continuously with the spot price above — sellers on the marketplace typically price above melt value, since the premium covers minting, distribution, and dealer margin.
Melt value is the raw metal content only — what you'd get scrapping the coin. The premium above it pays for minting, distribution, and dealer margin, and on this marketplace specifically, it's set by each individual seller rather than one company's price list, so it's worth comparing a few listings rather than buying the first one you see.
Like any commodity, palladium trades on global supply and demand — mine output and recycling on the supply side, industrial use, jewelry, and investment buying on the demand side. Short-term moves are usually driven by macro factors: interest rates, currency strength, and how much uncertainty investors are pricing into markets generally.
Government-minted bullion coins like this one are legal tender, widely recognized, and easy to resell — that recognition is usually worth the modest premium over generic rounds or bars of the same weight. For buyers who want to add to a physical position gradually, one-ounce coins are also just a convenient, liquid unit size.
This page shows melt value — spot price times pure metal content, recalculated on every page load. Individual seller listings add their own premium on top, and that premium (not the melt value) is what actually varies between sellers, so it's normal for listing prices below to sit above the number at the top of this page.
Melt value at the same live palladium spot price of $1,288.63/oz.
