Precious Metals List
What are Precious Metals?
Precious metals are rare Earth elements that have a high value. In some cases, throughout history, these metals have been used as currency. In other cases, these metals are precious because they are found in limited quantities and rarer than many metals. Let’s take a look at these by checking out the list, below:
Our Precious Metals List – Gold, Silver, Platinum, and More Expensive Metals
Gold
Gold is probably the most popular precious metal throughout human history; it’s highly sought after, and it’s valued for its rarity and ability to preserve wealth. Most precious metal investors have gold, and it is used to make jewelry, used in electronics, and is resistant to corrosion. People consider gold a “safe haven” investment, and its high economic value makes it commonly traded. Pure gold is available in bullion, coins, bars, and more. Gold, today, is very popular, just as it was in ancient times, and the current price is rising.
Silver
Silver is used for monetary and industrial use, and it’s one of the best known precious metals. Though gold remains the most common, silver, gold, and other metals are mined primarily for electronics industry (electric contacts), solar panels, eating utensils, batteries, and medical equipment. Silver, especially, has high connectivity and antimicrobial properties. The silver metal price is lower than gold per troy ounce, but it’s more volatile on the market.
Platinum Group Metals
Platinum is another precious metal, and often part of what people call the Platinum Group Metals. These are similar, chemically, and often occur together in nature, often in alluvial deposits in Russia, North America, and South America. Platinum ores and other platinum group metals are sought after for their catalytic and electrical conductivity properties. You will find platinum, a very malleable metal, and other PMGs in automotive parts, electronics, and chemical industrial applications.
Palladium
Palladium is a rare metal that has become more popular recently, especially in the automotive industry. It has the ability to convert toxic gasses into less harmful emissions, which makes it an essential component in catalytic converters. The price of palladium is rising, and as part of the PGMs, more investors are considering it over more common metals like silver and gold. It is also used with gold to create white gold.
Ruthenium
Another member of the PGMs, ruthenium is primarily used in electronics and the chemical industry, and it enhances the durability and performance of chips and data storage devices. It’s also used in solar panel parts. It’s rare to find in the Earth’s crust, which makes it more expensive than other elements. Ruthenium is often added as an alloy to platinum and palladium to increase resistance.
Rhodium
Rhodium is extremely rare and very valuable, and it’s a PGM that is found in catalytic converters. Mined primarily in South Africa, it’s resistant to oxidation and corrosive objects. Pricing for rhodium is directly related to supply and demand, more so than any other metal on this list.
Iridium
One of the most corrosion-resistant metals on Earth is iridium. It is a bi-product of nickel mining and nickel refining processes. In it’s pure form, this white-like metal is used in spark plugs, medical devices, and electrical contacts. It also has a high melting point, and it’s very durable, so it’s used in deep-ocean exploration equipment, too.
Osmium
The most dense, naturally occurring element is osmium. It’s blue/silver in appearance, and you will find it mostly in electronics and in fountain pen nibs. Osmium is extremely hard, but toxic in it’s powder form, and handling is not recommended, so it is not commonly traded.
Other Precious Metals
While gold, silver, and the PGMs dominate the market, other precious metals like scandium, tellurium, and indium also offer unique value. These are often classified as strategic or critical metals due to their importance in renewable energy, defense, and electronics.
What About Copper? Is This Metal Precious?
Though not a precious metal by definition, copper is often included in when talking about precious metals due to its industrial importance and rising demand. It’s a key component in construction, electrical systems, renewable energy, and electric vehicles. While copper lacks the rarity or status of gold or platinum, its value as a “green metal” is growing.
Related Reading: Investing in Precious Metals for Beginners
Gold, Silver, Platinum and More – What’s the Most Precious Metal?
It’s difficult to say what the most precious metal is. Rhodium is typically the most expensive metal, but many others might consider gold or silver to be the most precious. Really, it comes down to what is considered precious to you. There could be an argument for any metal on this list.