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Bigwigs of the Precious Metals

We talk a lot about gold, but its not the only heavy hitter in the world of precious metals.

Platinum Pricing

In fact, the price of some of the platinum metals is more than double the price of gold, making them a worthy investment and worth good money all at the same time.

The Platinum Group

Platinum is one of several precious metals found in the platinum group, all of them are rare and prized for the unique properties they display.

Here are the 3 big celebrities of the platinum group

1. Platinum

A very rare mineral often used in fine jewelry, platinum is prized for its metallic grey-white shine.

• Pt
• Atomic Number: 78
• Group Number: 10
• Period Number: 6

Meteorites contain platinum in their makeup, which means this heavy metal has been around awhile.

Used for ornamentation by ancient Egypt and the Inca Empire, platinum was later appreciated for more practical uses.

In 1795 King Louis XVI had a standard unit of measurement (the kilogram) created.

The kilogram is based on the unwaveringly stable weight of a platinum bar (with a little irridium thrown in for longevity).

This element was used because it is malleable, does not oxidize easily and is resistant to

• Corrosion
• Chemicals
• Extreme temperature changes

The largest quantities are mined from the ground in Columbia, some of the western U.S. and Ontario.

Platinum is used to make

• Jewelry
• Laboratory equipment
• Electrical contacts
• Dentistry Instruments
• Catalytic converters
• Missile nose cones
• Jet engine fuel nozzles

Not just for pretty engagement rings, platinum is increasingly used in practical applications because of its extreme stability.

2. Iridium

The bar used to set the standard kilogram weight is 90% platinum and 10% iridium, this element was used because it is the most corrosion-resistant element that exists.

• Ir
• Atomic Number: 77
• Group Number: 9
• Period Number: 6

Strong because it is dense, the ore is hard and very brittle with a yellow cast to its silvery-white color.

Because of its brittle nature iridium is difficult to work with, however it has several properties which make the metal valuable for use

• Withstands high temperatures
• Cannot be attacked by acids or molten salts
• Among the most dense elements known

This element was discovered in 1803 by British scientist Smithson Tennant in London, and named for the rainbow of colors found in iridium compounds.

Often alloyed with platinum for hardness properties, iridium is also used for

• Laboratory crucibles
• Compass bearings
• Painting porcelain black
• Fountain pen nibs in the early 20th century

3. Rhodium

The big daddy of all precious metals, rhodium is the most expensive and said to symbolize wealth and honor.

• Rh
• Atomic Number: 45
• Group Number: 9
• Period Number: 5

Silvery-white, durable and hard, this element has a highly reflective surface.

Rhodium is prized for

• Low electrical resistance
• Stable contact resistance
• High corrosion resistance
• A higher melting point and lower density than platinum

Often added as an alloying agent for hardening platinum and palladium, this metal is also used to flash coat jewelry for that highly-reflective gleam.

More practical applications include

• Electrodes for aircraft spark plugs
• Laboratory crucibles
• Glass fiber production
• Catalytic converters

Discovered in 1803 by Wiliam Hyde Wollaston in platinum ore from South America, today rhodium is mainly found in South Africa, Canada and other parts of North America.

The Famous Elements

These 3 are the most famous and sought after precious metals out there.

However they do have a few lesser known cousins which we will discuss in our next article about the platinum metals you’ve never heard of.

Stay tuned and be sure to brush up on your basic gold facts while you wait.

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