Yes, indeed it was.
However, the palladium to which I refer today is a chemical element (remember that dastardly Periodic Table of Elements in the 8th grade?) in solid form that is considered to be a precious metal. Its symbol is Pd and its atomic number is 46. Other precious metals include our friends Ag, Au and Pt; silver, gold and platinum respectively. There are others, but I refer to these metals as they have jewelry-making applications. Okay, titanium, too.
Guess what? Jewelry can be made of palladium, too.
Palladium is very similar to platinum chemically-speaking, and is in the platinum group of metals. As well, it has a lower melting point than platinum, and therefore is easier to work with. When it is cold, it is remarkably strong and hard and thus very desirable for jewelry. Etching or deconstructing palladium is a lengthy process with HCl (hydrochloric acid), and it will only dissolve rapidly in more caustic acids. And finally, it does not tarnish when worn (unlike some silver and gold alloys) as it has no reaction to oxygen.
Gearheads will recognize palladium for its use in catalytic converters. It is thought that palladium will one day take the place of platinum in this process.
So, when you want a white metal you basically choose from platinum or white gold. Platinum is very expensive. White gold is also pricey, but white gold is more of a hassle than yellow gold or platinum. In order to get white gold, you must alloy the gold with either nickel or palladium first. And then you get to rhodium plate it. It's a hassle. It's great metal, very sturdy indeed, but a big hassle.
Enter palladium. Palladium was one of the big stars at this year's JCK show in Las Vegas. Its price point is somewhere between white gold and platinum (although its trading price about half of gold, demand is up, therefore price goes up), but with none of the hassles. It is much less dense than platinum, to be sure, but just as tough in its cold state. It will look like platinum, it simply won't weigh as much.
Yesterday I saw a men's size 15 (!) ring of palladium. The same ring in platinum would've been double the price as it would have weighed nearly one ounce. And what is the price of platinum per ounce today? As of five minutes ago, an ounce of platinum was $1158.00 US. Palladium was $299.00 US. You do the math. Of course, it's not straight math. "Precious metal math" is about as confusing and demand-driven as "diamond math."
A piece of jewelry forged of palladium will have the nearly identical white, white metal look of platinum, but it will cost far less. It is very workable. It is said that palladium can be pounded into thin leaves of metal just like gold. Jewelers are finding multiple uses for it that were otherwise prohibitively expensive to render in platinum.
By the way, palladium is mined in Ethiopia, both North and South America, in the Ural Mountains, and in Australia.
I wouldn't hesitate to recommend this unique offering. Although it has been used for years in jewelry-making, its time is now.