Precious Metals (2024)

Precious metals may seem unlikely as engineering materials, but the same expensive metals used for coinage and jewelry also satisfy applications requiring the ultimate in corrosion resistance or electrical conductivity. Three subgroups make up the entire family of precious metals: silver and silver alloys; gold and gold alloys; and the platinum metals, which are platinum, palladium, rhodium, ruthenium, iridium, and osmium. The six platinum metals are so grouped because they occur naturally in the same ore.

Most precious metals are available as sheet, tape, foil, wire, tubing, gauze, discs, electrodes, cathodes, crucibles, catalysts, and salts or solutions for plating and coating. All precious metals are nearly completely corrosion resistant; platinum metals withstand service up to 3,200°F without any evidence of erosion or corrosion.

Gold: An extremely soft, ductile metal, gold undergoes very little work hardening. A gram of pure gold can be worked into leaf covering 6 ft^2 and only 0.0000033 in. thick. Because pure gold is too soft for large, freestanding components, it is used chiefly for linings or electrodeposits and is often alloyed with other metals such as copper or nickel to increase strength or hardness.

Gold is extremely inert. It is not attacked by nitric, hydrochloric, or sulfuric acid, but is dissolved by aqua regia and is attacked by sodium and potassium cyanide plus oxygen.

Silver: The least costly of the precious-metal group, silver is also very malleable, ductile, and corrosion resistant. Because it is not attacked by alkaline solutions, it is used to contain caustic soda and potash in all concentrations. Silver has the highest thermal and electrical conductivity of all metals.

Alloyed with copper, and sometimes with zinc, silver is used in high-melting temperature solders. These silver solders are used where more than ordinary joint strength -- or sometimes, electric conductivity -- is required.

Platinum: A silver-white metal, platinum is extremely malleable, ductile, and corrosion resistant. When heated to redness, it softens and is easily worked. It is nearly nonoxidizable and is soluble only in liquids that generate free chlorine such as aqua regia. Because platinum is inert and stable, even at high temperatures, the metal is used for high-temperature handling of high-purity chemicals and laboratory materials. Other applications include electrical contacts, resistance wire, thermocouples, and standard weights. In gauze form, platinum is used as a catalyst in air-pollution control systems.

Palladium, iridium, and rhodium: These metals resemble and behave like platinum. All can be worked but, because they work harden, require annealing between forming operations. Rhodium and iridium are more brittle than palladium, however, and must be forged or swaged above 1,472°F. Iridium cannot be cold rolled at all.

Palladium, which is harder and lighter than platinum, is used as an electrically conductive coating. It is easily applied to printed-circuit boards and various types of contacts. Palladium is often alloyed with silver or copper.

Iridium has the best corrosion resistance of all metals. Because of its excellent resistance to attack by leaded fuels, iridium is used for spark-plug electrodes in aircraft engines and in similar applications where extreme reliability is required. It is also used as an alloying agent for increasing the corrosion resistance and hardness of platinum. Iridium-tungsten alloys are used for springs operating at temperatures as high as 800°C.

Rhodium has the highest electrical and thermal conductivity of the platinum-metals group and is the hardest. It has high reflectivity, which makes it ideal for mirrors and reflectors in high-temperature or highly corrosive applications. It is also used with platinum in thermocouple wire.

Ruthenium and osmium: Although they worked successfully and have no structural applications, these metals are used as alloying elements to increase hardness and electrical resistivity of platinum or other metals in this group. Typical applications for these alloys include electrical contacts and wire for electronic products.

Precious Metals (2024)

FAQs

What are the 8 most precious metals? ›

There are 8 elements currently designated as precious metals. These are; gold, silver, platinum, palladium, iridium, osmium, rhodium and ruthenium.

What are precious types of metals? ›

There are eight metals that are considered precious. They are gold, silver, platinum, palladium, rhodium, ruthenium, iridium, and osmium. Of the precious metals that are not gold or silver, platinum is the most traded.

What are the top 10 precious metals? ›

Here are the top ten most precious metals on the planet.
  1. Rhodium. Mostly mined from Russia, South Africa and Canada, Rhodium is highly prized for its high resistance to corrosion and heat. ...
  2. Platinum. ...
  3. Gold. ...
  4. Ruthenium. ...
  5. Iridium. ...
  6. Osmium. ...
  7. Palladium. ...
  8. Rhenium.

What are 5 valuable metals? ›

Gold nugget A selection of precious metal elements; gold, silver, platinum, palladium, copper, ruthenium, rhodium, rhenium, osmium, iridium and mercury. They are labeled and arranged by their location on the periodic table. The best known precious metals are the coinage metals, which are gold and silver.

What is the rarest metal on Earth? ›

Here we'll discuss a few actual rare metals, present in the earth in miniscule amounts but which have important applications nonetheless. The rarest stable metal is tantalum. The rarest metal on earth is actually francium, but because this unstable element has a half life of a mere 22 minutes, it has no practical use.

Which metal is expensive than gold? ›

Palladium is currently the most expensive of the four major precious metals - gold, silver, platinum and palladium. It is scarcer than platinum, and is being used in great quantities for catalytic converters in cars. Because of this, prices have swung between the two metals.

What is the most valuable metal right now? ›

Rhodium is the most valuable metal and exists within the platinum group of metals. It is used in jewelry for a final finish on white gold jewelry. It occurs in the very same ore in which gold and silver exist – only, in smaller quantities.

What is the rarest gold in the world? ›

Today, Welsh gold is scarcer than it has ever been. When mining took place at the Clogau St David's Gold Mine in the late 1990s it used to cost over £1000 per ounce to extract. With no gold mining happening in Wales today, Welsh gold supplies may eventually run out, making it possibly the rarest gold in the world.

What metal is white gold? ›

White gold was originally developed to imitate platinum (a naturally white metal). White gold is usually an alloy containing about 75% gold and about 25% nickel and zinc. If stamped 18 karat, it would be 75% pure gold.

Which precious metal is the cheapest? ›

Affordability: The price of silver tends to make it more affordable than gold. In turn, this precious metal is more broadly accessible to a range of investors.

What is the most beautiful metal? ›

Norsem*n called Freyja by another name, Vanadis, which is where vanadium got its name. Vanadium may be the most beautiful metal of all – once extracted and dissolved in water, various forms of vanadium turn into bright, bold colors.

What is the strongest metal on Earth? ›

Tungsten, which is Swedish for "heavy stone," is the strongest metal in the world. It was identified as a new element in 1781. It is commonly used to make bullets and missiles, metal evaporation work, manufacturing of paints, creating electron and Television tubes, and making glass to metal seals.

How much is 1 oz of rhodium worth? ›

PGMs
Price
RHODIUM USD/Oz4750.00
RHODIUM GBP/Oz3785.61
RHODIUM EUR/Oz4413.84
RUTHENIUM USD/Oz450.00
5 more rows

What are the 5 rare metals? ›

The best known precious metals are of course gold and silver, which have both been made into currency and objects of art since before recorded history began. However, the platinum group of elements (platinum itself, palladium, iridium, osmium, rhodium and ruthenium) are also important precious metals.

How much is 1 lb of rhodium worth? ›

Rhodium Prices for the Last Day
Rhodium (lb)Date
$68906.25Apr 26, 2024

What are the 9 precious metals? ›

Precious metals aren't limited to gold, silver and platinum. In fact, there are nine different precious metals: gold, silver, platinum, palladium, rhodium, iridium, osmium, rhenium, and ruthenium. All these metals have properties that make them unique, and well, precious.

What are the eight noble metals? ›

Noble metals refer to ruthenium (Ru), rhodium (Rh), palladium (Pd), silver (Ag), osmium (Os), iridium (Ir), platinum (Pt), and gold (Ag).

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