Platinum And It’s Place In The World Of Precious Metals
Within the last century, Platinum has become a staple exclusivity. Due to its rareness, the name of the precious metal has been used to identify things of high importance. From record-setting musical albums to special DVD collections, platinum is the name used when one wants to designate something as being better than others in the same category.
Platinum is not as commonplace as gold or silver when it comes to precious metals. However, it is versatile, and over time, has become globally well regarded. In this article, we will take a look it’s components, how it comes about, and it’s value.
Platinum Is One Of The Most Expensive Precious Metals On the Planet
The atomic number for platinum is 78, and its chemical symbol on the periodic table is Pt. It is as apart of the transition group 10. The color of the precious metal tends to be more of a grayish white. Due to its hue, the precious metal is sometimes mistaken as the precious metal Silver. The metal of its name from the derivation of the Spanish word, Platina. Platina just so happens to translate to meaning “Small Silver.”
Mining and processing Platinum is a process that easily takes as long as six months to finish. Due to the precious metal-containing ores, it takes more of the ore to produce one ounce of it. To come up with one ounce of the precious metal, miners have to extract and process between 7 to 12 tonnes of ore.
Platinum also has a high investment value when it comes to the exchanging metals. When someone wants to invest in the precious metal, its best to note that it is a volatile investment. With the extremities in price, it’s important to know that in one year, the price of the precious metal can go over $1,500.