In 2020, the value of precious metals hit a staggering $55 billion in the U.S as there was a massive influx of imports.
We’ve heard of popular ones like gold, silver, and platinum, but other precious metals may have slipped under your radar. Perhaps you want to deepen your knowledge in this area and you’re not sure where to start.
Sounds like you? Don’t worry, you’ve come to the right place. Here are the world’s most precious metals.
If you’re looking for expensive metals, then check out rhodium. This is revered because it’s resistant to corrosion and heat. And because of its glossy, silver exterior, rhodium is popular for reflective surfaces like jewelry finish and mirrors.
Platinum needs no introduction as it’s one of the most popular metals. Once, platinum was traded at a higher price than gold, but recently the prices have dipped. This is because platinum was used in catalytic converters for diesel cars, but consumers have switched to petrol-powered vehicles.
But aside from that, platinum is used for jewelry, weapons, and even dentist equipment.
Another popular precious metal is gold. Not only in this durable, but gold has been adored for centuries, thanks to its versatility. You’ve likely owned gold jewelry and had electronics that contain this metal. If you want to capitalize on your love for this precious metal, then subscribe to a bullion gold subscription today.
The most expensive metal is ruthenium, which is like platinum. You mostly find this precious metal in North and South America where it is mined. Note, ruthenium is often found in electronic devices and other mechanical equipment.
Silver is famous for its heat and electrical resistance, making it popular for an array of industries.
There’s no doubt you’ve worn silver as jewelry, used it as cutlery, or even found it in batteries. Plus, this precious metal has other quirks such as eliminating odor in your shoes.
Although iridium isn’t as famous to the layperson, it’s present in many items. Again, it’s a type of platinum and is only found in South Africa. But iridium is found in medicine, automobiles, and even in the electronics, we use every day.
Unlike other precious metals on this list, palladium can absorb hydrogen. But this doesn’t make it any less stable. It’s also used to reduce emissions in vehicles and even as jewelry.
The second most expensive metal is scandium. It was discovered in Scandanavia and is adored for its silvery-white sheen. In fact, it’s only extracted from several mines across the world as it’s so rare.
The Top Precious Metals
Hopefully, after reading this article, you’re familiar with the most precious metals.
There is a huge selection of precious metals that help our everyday lives. Although lesser-known, metals like palladium, iridium, and ruthenium are equally important as those we are used to. What’s not to love?
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