A non-magnetic cobalt based "noble" metal dental alloy is provided. The dentalalloycomprises a formulation of a cobalt based high palladium content alloy that isconsistent with theAmerican Dental Association (ADA) guidelines for "noble" alloys required foruse in dentalproducts (i.e. alloys having at least 25% gold or palladium). The cobalt basedpalladiumcontaining alloys may be rendered non-magnetic through the additions of higherconcentrationsof other alloying elements. The cobalt based alloy generally contains at least25 wt.% palladium,or may contain at least 25 wt. % gold plus platinum group elements with themajority of the 25%addition consisting of palladium. The alloy also contains chromium and mayinclude 0 to 20 wt.% of molybdenum and/or tungsten, tantalum, niobium, vanadium, and rhenium.