Precious metals are naturally occurring elements that hold significant economic worth due to their rarity and wide-ranging applications. While some have historically served as forms of currency, others are prized for their unique physical and chemical properties.
Renowned for their resistance to corrosion and tarnish, these metals are commonly utilized in jewelry, investment products, and, in some cases, industrial applications. Among the most recognized precious metals are:
GOLD #
Gold is the easiest precious metal to recognize because of its unique yellow color. Gold is popular because of its color, malleability, and conductivity.
Uses: Jewelry, electronics, radiation shielding, thermal insulation
Major Sources: South Africa, United States, China, Australia
SILVER #
Silver is a popular precious metal for jewelry, but its value extends well beyond beauty. It has the highest electrical and thermal conductivity of all the elements and has the lowest contact resistance.
Uses: Jewelry, coins, batteries, electronics, dentistry, antimicrobial agents, photography
Major Sources: Peru, Mexico, Chile, China
PLATINUM #
Platinum is a dense, malleable metal with exceptional corrosion resistance. It is nearly 15 times rarer than gold yet widely used. This combination of rarity and functionality might make platinum the most precious metal.
Uses: Catalysts, jewelry, weaponry, dentistry
Major Sources: South Africa, Canada, Russia
PALLADIUM #
Palladium is similar to platinum in its properties. Like platinum, this element can absorb an enormous quantity of hydrogen. It is a rare, malleable metal, able to maintain stability at high temperatures.
Uses: “White gold” jewelry, catalytic converters in automobiles, electrode plating in electronics
Major Sources: Russia, Canada, United States, South Africa
RUTHENIUM #
Ruthenium is one of the platinum group metals, or PGMs. All metals of this element family are considered precious metals because they are typically found together in nature and share similar properties.
Uses: Increasing hardness in alloys and coating electrical contacts to improve durability and corrosion resistance
Major Sources: Russia, North America, South America
RHODIUM #
Rhodium is a rare, highly reflective, silvery metal. It exhibits high corrosion resistance and has a high melting point.
Uses: Reflectivity, including jewelry, mirrors, and other reflectors, and automotive uses
Major Sources: South Africa, Canada, Russia
IRIDIUM #
Iridium is one of the densest precious metals. It also has one of the highest melting points and is the most corrosion-resistant element.
Uses: Pen nibs, watches, jewelry, compasses, electronics, medicine, automotive industry
Major Source: South Africa
OSMIUM #
Osmium is arguably tied with iridium as the element with the highest density. This bluish metal is extremely hard and brittle, with a high melting point. While it’s too heavy and brittle to use in jewelry and gives off an unpleasant odor, this precious metal is a desirable addition when making alloys.
Uses: Pen nibs, electrical contacts, hardening platinum alloys
Major Sources: Russia, North America, South America
RHENIUM #
Other elements are sometimes considered to be precious metals. Rhenium is commonly included on the list. Some sources consider indium to be a precious metal. Alloys made using precious metals are themselves precious. A good example is electrum, a naturally occurring alloy of silver and gold.
