When it comes to investing, it is most likely the safest bet to buy precious metals. The price of these metals not only fluctuates less than other investments, but is also considered more valuable than anything by many cultures past and present. This has led people to take advantage of this aspect and create every kind of objects using this precious metal as a way to show off their wealth and/or power. All of the precious metals on the periodic table have some value, but there are numerous differing kinds and they vary in how rare or common they’re and how expensive every one is.
1. Gold
Gold is probably the most popular types of precious metals. Also known as aurum, gold is a yellow metal whose chemical symbol Au stands for the Latin word for gold itself. Found far back in recorded history, gold has been used for currency and jewelery since the dawn of civilization. In fact, much of the world’s gold reserves are still held in central banks and are often seen as a sign of economic stability. Gold is rare, but not as rare as some other precious metals, making it comparatively affordable. It is also one of the softest metals, meaning that it can be easily formed into numerous shapes. However, not all gold costs the same, as you can see during your visit buy gold on NPMEX or other similar platforms. The price of gold is also affected by its purity, which is measured in karats. The most common scales used to measure this are 24k and 18k, with the first number representing pure gold and the second how much of it has been alloyed with another metal such as silver or copper.
2. Platinum
One of the rarest of the precious metals, platinum has the chemical symbol Pt and is among the densest and toughest metals. Discovered in South America by pre-Columbian people, platinum also used for bartering and trading. Platinum is worth more than five times the price of gold and its price fluctuates less than other precious metals, which makes it used in high-end jewellery. Platinum is also often combined with other metals or elements for scientific experiments because it can be alloyed with iridium to produce an alloy that’s three times harder than pure platinum. It is also non-toxic, making it a popular choice for implants and medical devices.
3. Silver
Much like gold, silver is a popular precious metal that has been used in jewellery and other items for thousands of years. That chemical material the symbol for silver is Ag from the Latin word Argentum, which means silver. It is not as rare as gold but still costlier than other metals. Silver has been used around the globe and is also popular for its numerous uses. For example, silver can be combined with other metals such as copper to create an alloy that is powerful enough to be used as a conductor of electricity. It is also often used in mirrors because it has a high reflectivity. Silver is also very affordable, making it a popular choice for investors.
4. Palladium
A rare metal, palladium was discovered in 1803 in South America. The chemical symbol for palladium is Pd and is widely used in jewellery or scientific experiments because of its resistance and skill to resist corrosion. Palladium costs about the same as silver, but has many more uses than science and jewellery, including converters that reduce pollution from cars. It is also a wonderful conductor of electricity and can be combined with other metals to make alloys. The price of palladium changes depending on the market, but is currently valued at around $950 per ounce. Ounces are one of the more common ways of measuring precious metals.
5. Iridium
Discovered by Smithson Tennant, iridium is among the rarest metals on Earth. Its chemical symbol is Ir and it’s also one of the densest precious metals out there, about twice as heavy as lead. Iridium may seem expensive due to this, but its high melting point makes it a popular choice for things like medical implants and ballpoint pens. Iridium is also corrosion resistant, meaning it does not corrode in water or other liquids. It is generally used in alloys as a result of its properties and is commonly combined with platinum or gold. Iridium’s rarity means it is hard to find, but it is well worth the investment. However, given their rarity, their prices vary widely.
With so many precious metals available, it can be difficult to determine which one is the best for investment. But if you want the most affordable metal that has a high return on investment, gold is still the best option. However, silver and platinum are still good choices because of their properties and commercial applications. Regardless, it’s at all times good to know the differing types of precious metals and their unique properties, so you can make the best decision for your needs.
