Last week we wrote about whether or not to buy palladium, so we thought we’d highlight it’s counterpart this week. So, if you’re up to par with the recent prices of precious metals, you may realize that now is the time to buy platinum as well. With the overall demand for the year thus far, is down, palladium’s price increases are putting attention on platinum. Here at Boston Bullion, we love keeping our customers informed. Because of that, this week’s fun facts are based on spreading knowledge about the growingly popular platinum.
Platinum is a chemical element with the symbol Pt and atomic number 78. Derived from the Spanish term platino, platinum translated means “little silver.” This term arose as Spanish explorers consider platinum as an inferior form of silver. Similar to palladium, platinum is a by-product in some nickel and copper ores. Although most platinum is derived from cooperate, it has been found in mass numbers in space meteorites.
- The first references of platinum date back to the 16th century in European writings.
- However, the first traces have been found within the gold of the ancient Egyptians.
- Approximately 80% of global platinum production is mined in South Africa.
- Platinum is the least common of all popular precious metals.
- Platinum is, also, one of the least reactive metals.
- It is considered a noble metal because of its remarkable resistance to corrosion, even at high temperatures
- Because of the significantly dense makeup, lighter impurities can be removed by floating them away in liquid.
- Platinum is resistant to hydrochloric and sulfuric acids.
- Popular industries that utilize this precious metal include; automotive, jewelers, dentistry, and scientific laboratories.
- Platinum was an essential strategic defense metal used during World War II.
- Platinum continues to be a key metal in the defense industry.
- White gold and platinum can often be confused with jewelry distinctions.
- Platinum is more durable than gold.
For more information on how to buy platinum, contact your local Boston coin dealer, Boston Bullion. With years of experience and expertise in the industry, Ken is happy to provide the knowledge and service you’re looking for. Call today to schedule your appointment at (781) 710-8419.