When considering precious metals, gold and silver are typically the first two that come to mind. However, there is another metal, platinum, that is often overlooked but has all the characteristics of a true precious metal. While not as well known or widely used as gold or silver, platinum has unique properties that make it valuable in many applications.
Is Platinum a Precious Metal?
Yes, Platinum is a precious metal. Nine precious metals are iridium, rhenium, ruthenium, rhodium, palladium, osmium, platinum, silver, and gold. Platinum has a high commodity price level and is more valuable than gold.
Physically speaking, platinum is a grayish-white metal with a density of 21.45 g/cm³ which makes it one of the densest metals available. It has excellent corrosion resistance and does not rust or corrode in air or water like other metals. It also has good thermal and electrical conductivity making it ideal for electrical components and heat exchangers. Furthermore, its malleability allows easy fabrication into intricate shapes without weakening the material.
On the monetary side of things, platinum is considered one of the four ‘precious’ metals along with gold, silver, and palladium; it is also one of the most expensive metals available on the market today because its supply is limited relative to demand. Since 1975 when South Africa began producing significant amounts of platinum on an industrial scale, its use as an investment piece has become more popular due to its relatively low volatility compared to other metals, such as gold or silver, over long periods.
- High melting point: Platinum has a high melting point, making it suitable for high-temperature applications.
- Corrosion resistance: Platinum has good corrosion resistance, making it suitable for use in harsh environments and for applications that require corrosion resistance.
- Density: Platinum has a high viscosity, making it useful for applications such as counterweights and ballast.
- Malleability: Platinum is malleable, making it easy to form and shape into various products.
- Rareness: Platinum is a rare metal, making it valuable for use in jewelry and other luxury goods.
- Catalytic properties: Platinum has catalytic properties, making it useful as a catalyst in chemical reactions.
- High electrical conductivity: Platinum has high electrical conductivity, making it useful in electrical and electronic applications.
- Biocompatibility: Platinum is biocompatible, making it suitable for medical implants and devices.
When looking at Platinum’s chemical composition bears many similarities to rhodebachium (Os), osmium (Os), iridium (Ir), and palladium (Pd). All four are part of a group known as the Platinum Group Metals (PGM), whose chemical properties are very similar but can react differently depending on compounds present within them at any given time – this makes them ideal for detecting certain compounds in medical tests such as cancer detection & diagnosis where minute changes in chemistry can indicate disease progression or remission.
In conclusion, Platinum is indeed a precious metal that shares many qualities with other well-known precious metals like gold and silver but provides unique features unmatched by any single element alone due to its versatility across both technological and monetary applications, making it an attractive option for investors who want to diversify their portfolios beyond traditional investments like stocks & bonds and precious metal collectors alike who appreciate its rarity & beauty when incorporated into jewelry design & artwork alike.
If you like bills and coins, you should learn more about Gold and Silver IRAs. You can protect your retirement fund if you invest in IRA precious metals. Investors with gold IRAs can hold physical metals such as bullion or coins. Get a free pdf about Gold IRA.
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If you do not want to own them in physical form precious metals, you can trade gold, silver, and metals as CFD with the minimum commission: