What Makes Platinum a Precious Metal?
A precious metal is difficult to source, which is why it’s expensive. Platinum has certain unique qualities that make it rare and precious in many ways. Here is why platinum is considered a precious metal:
Mining Complexity
Mining platinum is a complex process. Unlike other precious metals such as gold, platinum is buried deeper in the earth and requires more effort to extract.
Once it has been mined, it needs to go through a purifying process. This purifying process takes longer for platinum and is more intense.
High Density
Platinum is a metal with a higher density than gold. This makes it more expensive because precious metals are priced by their weight.
The higher density combined with its great malleable qualities makes it usable for production in several different types of goods.
Long-lasting Appearance
With time, precious metals used to make jewelry lose their lackluster. Some get tarnished and develop a yellow tinge over the years.
Platinum does not develop this yellow tinge but may lose its brilliant shine. However, it can be restored through professional polishing.
Multiple Uses
Platinum is used to make many other things besides jewelry. It is used to make life-saving instruments such as pacemakers for medical uses and is also popularly used in the automobile sector to make parts such as catalytic converters for cars.
Hypoallergenic Quality
Platinum is the least reactive metal and hypoallergenic, making it a more suitable choice for jewelry and watches.
Precious metals are a great way to invest and earn sound returns. Through Orion Metal Exchange, you can learn about the best ways to invest in precious metals such as platinum.
We help you to open a precious metals IRA account and secure your future.
Our IRA service also has options for gold and silver IRA accounts, so you can choose the precious metal investment that is most suitable for you.
We provide you with real-time updates, and our distribution rate is higher than the industry average. Contact us to learn more about how you can apply for our IRA service or call us at 1-800-559-0088 to receive expert advice.
