The word "precious" conjures to mind something of extreme value. Precious metals are among some of the most valuable substances on Earth. What makes a metal "precious"? Only eight metals are considered precious. They naturally occur in nature, have low chemical reactivity, and possess desirable characteristics like shine, finish, and durability.
The 8 Precious Metals
1. Rhodium
This highly reflective metal is extremely valuable due to its rarity. It tolerates corrosive objects without warping and has a high melting point. Russia, South Africa, and Canada are the largest producers.
2. Platinum
15 times more rare than gold, platinum is dense yet easily formed. It resists wear and tear, is scratch resistant, and mixes well with other metal alloys. Platinum's value also comes from its purity standards.
3. Gold
The most well-known precious metal. Gold remains a popular investment option as it hedges against inflation. It is highly conductive and resists corrosion. The karat of gold describes its purity — the purer the gold, the more valuable it is.
4. Ruthenium
Can be added to platinum to increase resistance and hardiness. The electronics industry uses ruthenium in plating electric contacts. It is another rare metal rarely found in the earth.
5. Iridium
A white-like metal and by-product of nickel mining. It is the second-densest metal on earth and considered the most corrosion-resistant metal. The metal comes from meteorites in the Earth's crust.
6. Osmium
This metal has a blue hue and high melting point making it extremely dense. When combined with platinum, the element becomes incredibly hard. Found in fountain pen tips, pivots, needles, and electrical contacts.
7. Palladium
This white-grey metal exhibits stable and malleable behavior, resisting extreme temperatures. It can absorb hydrogen in great amounts at room temperature, making it valuable to car manufacturers for reducing emissions.
8. Silver
Silver has been precious since ancient times. A softer metal, it was once considered more valuable than gold. While commonly used in jewelry, silver also finds use in decoration, eating utensils, and electronics.
Precious Metals in Jewelry
Each precious metal has its own use in jewelry. Gold comes in three colors: yellow gold, white gold, and rose gold. Sterling silver remains popular because of its hardiness and is an inexpensive alternative to gold. Platinum's hypoallergenic qualities and durability make it a popular choice for those with sensitive skin.
Which Metal Is Right for You?
- Everyday Wear: Silver — inexpensive, goes with any outfit, and stands up to casual wear
- Active Lifestyle: Platinum — resists tarnish and cracking while keeping its shine
- Special Occasion: Gold — nothing says love like gold jewelry, available in yellow, white, and rose
Sell or Trade Your Precious Metals
Elite Jewelry and Loan buys and trades precious metals including gold, silver, and platinum. Our experienced team will help you through the process. We also offer short-term pawn loans for fast cash needs.