17 Interesting Facts About Platinum
Platinum is a rare and highly valued metal used in various industries to make jewelry, electrical contacts, medication, catalytic converters, pacemakers, and magnets. It’s shiny and silver-like appearance makes it popular in jewelry making.
Here are some interesting facts about platinum.
- Platinum is a very rare metal, and there are only five parts per billion by weight of platinum in the Earth’s crust.
- Due to its rarity, platinum tends to be very expensive.
- It’s extremely resistant to corrosion and tarnishing, and sometimes people refer to it as a Noble metal.
- In olden times, platinum was known as white gold.
- Platinum is part of a group of transition metals, including gold, silver, titanium, and copper.
- The melting point of platinum is very high at 3215 degrees Fahrenheit or 1768 degrees Celsius.
- While there are six natural isotopes of platinum, 37 artificial ones have been developed in a lab.
- In ancient times, Egyptians and Mayans used platinum to make jewelry and decorative pieces.
- In the 18th century, platinum was the 8th known metal in the world.
- The platinum ore is dissolved in and separated using a nitric and hydrochloric acid solution and then melted at very high temperatures to extract the pure metal.
- Platinum has low reactivity levels, so it’s used in many anti-cancer drugs to treat tumors and cancer. About 50% of cancer patients currently utilize platinum containing drugs.
- Bodily fluids cannot corrode it, so it’s also used in pacemakers, dental grounds, and other equipment inserted into the human body.
- Every year, about 1800 tons of platinum are mined.
- Combining platinum with cobalt creates permanent magnets used in medical instruments, watches, motors, etc.
- Using platinum in substances such as gasoline, fertilizers, fuel cells, and plastics increases their efficiency as this chemical acts as a catalyst.
- Because of the many uses of platinum, many investors invest in platinum as a precious metal due to its potential for economic growth.
If you’d like to benefit from this rare metal, invest in platinum coins at Orion Metal Exchange. We’re one of the top companies in gold, silver, and platinum investments.