Platinum

Platinum is regarded as a “new” metal in its present form although it has a long history.
The name ‘platinum’ was given by the Spanish conquerors in the 17th century and is a Spanish word, platina, meaning little silver. They discovered it while mining for gold and considered platinum a nuisance. In 1751, a Swedish assayer, Scheffer, recognized platinum as the 7th existing element. In 1789, a French physicist, P.F. Chabaneau obtained the first malleable platinum to produce a chalice that was presented to Pius VI.
Platinum’s production requires very complex processing techniques that weren’t available until the end of the 19th century. While platinum’s use for fine jewelry rapidly grew in the beginning of the 20th century, new refining techniques enabled huge advancements for industrial applications.
Platinum is commonly referred to as the ‘environmental metal’ because of its world wide use in catalytic converters, fuel cells and the fact that it takes platinum to refine gasoline. Platinum is one of the rarest (50 times rarer than gold) metals known to man. It’s scarce, costly and has certain properties making it unique. It is one of the densest, heaviest metals, while also being highly malleable, soft and ductile. It is extremely resistant to oxidation and corrosion of high temperatures or chemical elements. It’s also one of the best conductors of electricity and a powerful catalyzing agent. Platinum does not tarnish, and the fact being that approximately 20% of the goods manufactured in the world contain platinum or are produced using the precious metal, the demand factor is always growing, especially for modern day coinage. Supply is very limited because it is only found in South Africa, Russia and a little in Alaska. Along with its important function to refine petroleum, its remarkable conductivity and high melting point of 3216 degrees Fahrenheit, adds constant demand for space, military, and medical uses. Coinage is the area where one can really appreciate its beauty and the fundamentals prove there is a place for platinum in everyone’s investment portfolio. Platinum legal tender coins are available from many countries including the Isle of Man Platinum Noble, Canadian Maple Leaf, and the highest sought after coin is the United States Platinum Eagle. The U.S. Eagles, (along with gold and silver) are the only alternative to paper retirement accounts.

Palladium

Palladium is almost always found with platinum as it’s a derivative and has many of the same characteristics, particularly in catalysts for the auto industry. There are some notable differences such as palladium has the lowest melting point of the platinum group metals. It’s also known as the “amazing soaking sponge” because at room temperature it has the unusual property of absorbing up to 900 times its own volume of hydrogen. Hydrogen readily diffuses through heated palladium and this provides a means of purifying the gas. Finely divided it is a good catalyst and is used for hydrogenation and dehydrogenation reactions.  Palladium is also available in legal tender coinage and offers yet another way to diversify one’s precious metal portfolio.

Republic Monetary Exchange is a gold, silver and precious metals brokerage company that will help you create a stable financial future. Contact us today to find out how you can take advantage of owning these scarce precious metals and secure your assets with peace of mind.