Investing in precious metals has become very popular in the business world over the last few years, but what makes a precious metal? Precious metals are elemental metals that have a much higher economic value than base metals such as lead. As a result, these precious metals are highly popular within specific industries, and these metals have multiple properties that make them so valuable in the first place. Here are the Top 5 Precious Metals of the world and whey they’re so valuable.
We all know how popular gold is and has been for decades. Despite being one of the most common precious metals, it’s also one of the most valuable. This is down to its appealing colour and the fact that it is malleable and ductile, which means that its shape can be changed under tensile stress. As a result, it’s an extremely popular metal for crafting jewellery, from necklaces to bracelets and rings.
It’s also conductive, making it a great metal for use in electronics, thermal insulation and more.
Like gold, silver is an extremely popular precious metal that is widely used for jewellery thanks to its classic colour. However, it has a lot more value beyond its beauty; silver is highly conductive (more so than gold) as well as having the lowest contact resistance, making it a suitable metal for use in the production of batteries, fillings for teeth and even in photography.
Silver is a highly sought after precious metal and is one of the most popular; the colour is elegant and sometimes favoured over the bolder colour of Gold.
Palladium is one of the four primary precious metals and is very similar to platinum. Palladium is one of the rarest metals in the world, and is known for its ability to withstand corrosion and oxidation (which can cause discolouration in metals). Palladium is also hypoallergenic and will not tarnish, making it a long-lasting and durable precious metal that requires no extra protective treatment. This is particularly useful when it comes to jewellery, as it guarantees that your jewellery will remain white forever.
Rhodium can cost ten times as much as gold and is known for its highly reflective silver surface. Like other precious metals, it’s also highly resistant to corrosion and has a high melting point. The reflective nature of the meal means that it’s perfect for jewellery and mirrors, but it’s also used in the automotive industry.
Platinum is arguably the most popular as well as the most highly sought. It is used regularly for a verity of things, from jewellery to the creation of weapons. The metal is highly appealing aesthetically, proving to be both attractive and very functional. Platinum, like gold, is very malleable and highly resistant to corrosion. Platinum is values extremely highly, making it the most expensive and popular precious metals.
Hi, my name is Jon and I run Penny Thots. I’ve been interested in personal finance since high school and love writing and talking about it. You can learn more about me in the Authors section of this site.