Truth be told, Platinum is just as scarce as gold. With a concentration of .005 ppm (parts per million) in the earth’s crust, platinum is fifteen times scarcer than Silver whose ppm is .075. The ppm of Gold is .004, just one point lower than Platinum. Despite the similarity in scarcity, gold is excavated at three times the rate.
During the Second World War and nearly two centuries after its discovery, The United States declared that platinum was a strategic metal and banned its use in items such as jewelry. The catalytic and conductive properties of platinum were instrumental in the production of certain military applications. In modern day America, platinum still plays a big roll in military applications although it can now be worn as jewelry. Platinum is also a popular material in items such as computers, catalytic converters, and optical fibers.
To fully understand the differences between platinum and palladium, one must be familiar with the similarities between the two. Platinum and Palladium are both considered “transition metals” on the periodic table. Palladium is part of the “Platinum Family” meaning that it has similar chemical properties and is usually mined together with platinum in the same mineral deposits. It’s nearly impossible to the untrained eye to tell the two apart considering their very white and clean appearance. Palladium rings are typically half the cost of platinum rings due to its higher abundance.
Palladium’s density is much lower than its counterpart’s, but still much higher than gold and silver’s. Platinum’s density allows for it to have diminutive manipulations without damaging the metal, which also contributes to its higher demand. Both metals are used in modern day technology and their most prominent uses are in automotive catalytic converters and jewelry. While Palladium and Platinum are one of the same, they are different from each other in many ways.