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A precious metal is a rare metallic element of high, durable economic value. Chemically, the precious metals are less chemically reactive than most elements, have high luster, and have higher melting points than other metals. Economically, the precious metals have been historically important as currency, and remain important as investment commodities.
The best-known precious metals are gold and silver. While both have industrial uses, they are better known for their uses in art, jewelry, and coinage. Other precious metals include the Platinum group metals: ruthenium, rhodium, palladium, osmiumRhenium Osmium Iridium Ru Os Hs Full table General Name, Symbol, NumberOsmium, Os, 76 Chemical series transition metals Group, Period, Block 8 (VIIIB), 6 , d Density, Hardness 22610 kg/m3, 7 Appearance Silvery, Blue Cast Atomic properties Atomic weight 19, iridiumAlternate meaning: Iridium (satellite Iridium is a chemical element in the periodic table that has the symbol Ir and atomic number 77. A heavy, very hard, brittle, silvery-white transition metal of the platinum family, iridium is used in high strength all, and platinumPlatinum is also a certification by the RIAA and other world recording industries, see: RIAA certification Platinum is a chemical element in the periodic table that has the symbol Pt and atomic number 78. A heavy, malleable, ductile, precious, gray-white, of which platinum is the most widely traded. PlutoniumPlutonium is a radioactive, metallic, chemical element. It has the symbol Pu and the atomic number 94. Its atomic weight is 244. 06, its density 19,800 kg/m3. It is the element used in most modern nuclear weapons. The most important isotope of plutonium i and uraniumUranium is a chemical element in the periodic table that has the symbol U and atomic number 92. A heavy, silvery-white, toxic, metallic , and naturally- radioactive element, uranium belongs to the actinide series and its isotope uranium-235 is used as the could also be considered precious metals.
The demand for precious metals is driven only in part by their practical use; it is also driven by their value as investments. Palladium is, as of February 20042004 : January February March April May June July August September October November December Ongoing events Haiti Rebellion Bloody Sunday Inquiry Exploration of Mars: Rovers Bird flu Israeli-Palestinian conflict Same-sex marriage in the United States SCO, valued at a little over half the price of gold, and platinum at more than twice that of gold. Silver is substantially less expensive than these metals, presently at 1/57 the price of gold, but is often traditionally considered a precious metal for its role in coinage and jewelry.
1 Bullion
Precious metals in bulk form are known as bullion, and are traded on commodity markets. Bullion metals may be cast into ingotAn ingot is a mass of metal or semiconducting material, heated past the melting point, and then recast, typically into the form of a bar or block. More generally, these objects are typically cast into a specific shape with the aim of rendering them easy ts, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.
Many nations mint bullion coins, of which the most famous is probably the gold South African Krugerrand. Although nominally issued as legal tender, these coins' face value as currency is far below that of their value as bullion. For instance, the United States mints a "10-dollar" gold coin containing 1/4 ounce (7.776 g) of gold -- as of January 2004, this coin is worth over $100 as bullion. Bullion coins' minting by national governments gives them some numismatic value in addition to their bullion value, as well as certifying their purity. The level of purity varies from country to country, with some bullion coins of as pure as .9999 available (a 100% pure bullion coin is not possible). One of the largest bullion coins in the world is a 10,000 dollar coin minted in Australia which consists of a full kilogram of 0.999-pure gold, however China has produced coins in very limited quantities (less than 20 pieces minted) that exceed 260 ounces of gold.
Tangible investments in bullion are often seen as a hedge against both inflation and economic downturn. Gold in particular has retained its value well over long periods of time. Meanwhile, silver bullion coins have become popular with coin collectors due to their relative affordability, and unlike most gold and platinum issues which are valued based upon the markets, silver issues are more often valued as collectables, far higher than their actual bullion value.
