US Platinum Eagle coins

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PLATINUM

What’s so great about Platinum?

Industry + Jewelry + Rarity = investment?

Platinum has unique properties that make it especially useful in industry.  In the automobile industry it is used as an exhaust catalyst to convert dangerous emissions to safe non-toxic substances.  Automotive demand for platinum consumes about a third of platinum production.

Since the 18th century platinum has been popular in jewelry.

Platinum in jewelry

Platinum does not tarnish or oxidize when exposed to air or water.  This makes it especially attractive and durable in jewelry.  (However, like gold it can be dissolved by exposure to certain acids.)  This resistance to corrosion, beautiful silver-white metallic appearance, and rare properties make platinum’s use in jewelry all the more popular.  Because of its hypoallergenic properties it is a good choice for people who suffer reactions from other metals or 14k (alloyed) gold. 

Many famous jewels such as the Star of Africa and the Hope Diamond are mounted in platinum settings.  

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Platinum is rare.

Compared to most metals, both platinum and gold are rare.  Platinum is often called the “most precious” metal or the “rarest of the precious metals”.   Everyone agrees that "gold" is rare.  How rare is platinum?  To put it in perspective, each year there is fifteen times more gold mined than platinum.

Mining Platinum.

Platinum is usually found naturally in deposits of small grains, dust, or small nuggets averaging 50-75% purity.  Small amounts of it are acquired as byproducts of other mining.  The industrial extraction of platinum is complex.  The metal often is found in ores mixed with other metals such as palladium and gold. On average it exists on the earth’s crust at about 5/1000th’s of a gram per metric ton of earth. 

Not only is platinum less abundant than gold, it found in only a few mine-able deposits on earth.  Most platinum is mined in South Africa, Russia, and North America. South Africa produces over half (to 2/3rds) of the world supply.  Russia is the next biggest producer.  The North American mines are primarily palladium mines with platinum being a small percentage of the metal production.  It takes about 10 tons of raw platinum ore to produce one pure ounce of platinum. 

Platinum as an investment  

Experts say that platinum’s supply and demand is very tight. The above ground supply of platinum is very low compared to gold or silver. Small changes in mining or usage may have dramatic implications.  For example, at current consumption if platinum mining were to stop, the above ground supplies would last only a couple years.  In comparison, world gold supplies might last ten times as long.  The above ground availability of platinum has been tight even during periods of relatively normal production.  There are no known large platinum stockpiles to protect against significant supply disruptions. During World War II the US government recognized this and halted all non-military use of the metal.

Industrial Uses of Platinum

– over 20% of manufactured goods depend on platinum!

Can you believe it?  Over 20% of all manufactured items use platinum some time during the manufacturing process or in the final product.  It is malleable, ductile, and has high technology uses due to its unique properties.  For example, it is almost un-corrodible, has a extremely high melting point of about 3,215 degrees (Fahrenheit), has high electrical conductivity and has powerful catalytic properties.  These things make it ideal for use in many industrial production processes.

You will find platinum used in the production of fiberglass, medicines, chemicals, computers, lasers, petroleum products (gasoline), fiber-optic cables, crude oil refining, fertilizers, synthetic fibers, glass, paints, wires, plating and explosives. Perhaps its greatest use in industry is to control pollution. It is widely used in automobile catalytic converters, which helps limit exhaust emissions.  Platinum is necessary in the production of many of these items.  Few ways have been found to substitute something else for platinum. Industries depend on platinum.

Although platinum is used in many production processes, it is also a part of many items.  In addition to jewelry you will find platinum in things like chemotherapy medicines, industrial refrigerators, spark plugs, and catalytic converters.  About a third of all platinum consumed each year goes to catalytic converters (for controlling dangerous exhaust emissions in cars) or pollution control devices used in factories.  Pollution control will likely increase as countries pass environmental laws requiring cleaner air emissions and automobile catalytic converters.

Platinum has become an important industrial metal. Because it is such a critical material for many industries (and is rare) the US Government has labeled platinum a “strategic metal”.

What is the price of Platinum?

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What are the PGM metals?

Platinum, Iridium, Palladium, Osmium, Ruthenium, and Rhodium make up a group of metals called the “platinum group metals” (PGM).  They are considered part of this group because they show chemical similarities such as, high melting points, chemical inertness, low expansion under temperature changes, and ability to act as catalysts. PGM metals can sometimes be found together in natural deposits and may be found in small amounts along with gold and silver.

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 All about platinum -  For more information about Platinum visit:

  Platinum American Eagle coins - weights and sizes

  Platinum Eagle mintage numbers and scarcity

  http://goldinfo.net/platinumresearch.html

  http://www.platinum.matthey.com/publications/pmr.html

  http://www.angloplatinum.com/

  http://www.webelements.com/webelements/elements/text/Pt/key.html

  http://minerals.usgs.gov/minerals/pubs/commodity/platinum/

  http://www.goldsheetlinks.com/plpt.htm

  http://www.fuelcelltoday.com

Disclaimer:

This is not an advice to buy or sell.  As with any investment, prices can rise or fall. Consult your personal investment advisor before purchasing or selling any precious metals.