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Gold and silver are perhaps the two names that come to mind when thinking about the most expensive precious metals. While being extremely valuable, there are other metals that are even more expensive than these two such as Rhodium and Platinum (rankings change due to variations in prices).

So what is it that makes precious metals so valuable? Factors such as rarity, costs involved in the extraction process, or the difficulty level of extraction affect the price. In this blog, we’ll go over some of the world’s most expensive precious metals.

Rhodium

According to Statista, South Africa contributes to more than half of the global rhodium supply. It’s an extremely rare metal and currently holds the spot for the most expensive precious metal in the world with a single ounce costing nearly $2,000. Rhodium has a non-corrosive makeup and an extremely high melting point.

Common applications for this metal include plating on white gold and jewelry to provide a reflective, scratch-resistant surface.

Platinum

The word platinum comes from the Spanish word “platino” which means little silver. It’s a relatively recent addition to the precious metal series and the largest reserves are found in South Africa, according to explainthatstuff.com. Platinum is one of the rarest elements and it’s highly valued for its high malleability and useful properties. The metal is used in aeronautics, dentistry, and jewelry.

Gold

The most easily recognizable precious metal in the world, gold is—and always has been—valued as a store of money and was used as currency before paper money took over. Gold represents one of the most stable investments in the world and retains its value even in times of economic crisis and war.

Currently, its value is around $1,500 per ounce.  

Palladium

A lustrous and rare metal discovered in 1803, it’s resistant to corrosion and doesn’t lose its shine over time. It’s one of the rarest metals on earth and is even more expensive than gold with the current price hovering around $1,600, according to Kitco. Palladium is a non-renewable metal that proves highly valuable in fields such as aerospace, navigation, aviation, weapons, and nuclear energy.

Silver

Similar to gold, silver also has a rich history. It isn’t as rare as some of the other metals on this list but is valued for its numerous applications. Today, silver is used in rockets, submarines, nuclear devices, computers, jewelry, batteries, circuits, and much more.

With paper money is showing signs of weakness and digital money on the rise, it makes sense to invest in metals such as gold and silver that retain their value regardless of economic crisis. Orion Metal Exchange is one of the top gold investment companies in the country that provides gold and silver bullions as well as precious metal storage services. Contact us today for more information.

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