Platinum is among the rarest and most expensive of the popular precious metals. Natural platinum is fairly impure. It is always associated with small amounts of other elements (gold, copper, nickel and iron) and commonly contains the rare metals platinum, palladium, rhodium, iridium, osmium and ruthenium.
If translated into numbers, platinum—for all of its known deposits—is considerably more rare than gold and is the rarest metal of all.
For starters, gold is far more abundant in the earth's crust, making platinum rarer. Whilst 1,500 tons of gold are mined annually, only 160 tons of platinum are extracted. Platinum is also denser than gold, thus heavier.
In 2021, estimates of the total proven world reserves of PGMs were 69,910 tonnes or 2.2 billion troy ounces and are located mostly in South Africa.
While many people invest in Gold or Silver, one Precious Metal that is often overlooked is Platinum. Platinum is much rarer than both Gold and Silver — so rare, in fact, that all of the Platinum ever mined could potentially fit into your home.
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.
The rarity of platinum is what makes it valuable. Just as in everything else, when there is greater demand compared to supply, the value of object increases. The same can be said for platinum. Compared to many metals, both gold and platinum are rare.
Likewise, if demand continues for , some say it will be gone in about 10 years; platinum in 15 years; and silver in 20 years. Looking farther into the future, other sources claim that things like aluminum might run dry in about 80 years.
Experts posit that platinum is about 15–20 times scarcer than gold and approximately 60–100 times scarcer than silver, on the basis of annual mine production. Since 2014, platinum prices have fallen lower than gold. Approximately 75% of global platinum is mined in South Africa.
It is the most durable metal used to make jewellery. Platinum should last a lifetime and you should not have to reset your platinum engagement ring. Platinum is a naturally white metal that is highly resistant to tarnish.
If you look at the material value of precious metals, platinum sits at the top. The shiny white metal is considered a strong symbol of value and quality. The supply of platinum is much lower vs that of gold. It's also far more difficult to extract than the yellow metal.
On the other hand, platinum usually performs better during times of economic growth. When manufacturing and industrial industries boom, platinum prices often do, too. Thus, it is a valuable short-term investment that usually comes with greater, immediate returns compared to gold.
Platinum is about 20 times rarer than gold. All the platinum ever mined would only cover your ankles in one Olympic sized swimming pool, while all the gold produced would fill three Olympic sized pools (Source: World Platinum Investment Council).
These awards, given by the Recording Industry Association of America (RIAA), represent huge sales—500,000 units for gold, 1 million for platinum, 2 million or more for multiplatinum, and 10 million for diamond. Singles have the same criteria with sales and streaming (100 streams amount to one digital download).
The simplest tests are heating and discoloration. If the item is heated, for example, in a Bunsen flame, platinum will be more difficult or impossible to melt and the platinum will not discolour. The effect of acid is another basic test. None of the common acids will attack Pt.
Platinum Coins
Platinum bullion in the form of coins is fairly easy to sell. This is because the quality and purity of officially minted coins is often guaranteed or clearly documented, especially if you made your purchase from a reputable source.
Like gold, platinum is thought to be a worthy investment, as you're highly unlikely to make any kind of loss. However, it isn't completely risk-free. As with anything, the price can fluctuate depending on demand. However, the demand for platinum is only increasing, so there's money to be made by savvy investors.
Power cuts, war, and hybrid cars are predicted to cause a platinum price surge in 2023. The price of platinum is forecast to surge this year thanks to factors including power cuts in South Africa, the war in Ukraine and the increased production of hybrid cars.
Platinum, gold & silver
Known as the precious metals, platinum, gold and silver are all pure metals, therefore they contain no iron and cannot rust. Platinum and gold are highly non-reactive, and although silver can tarnish, it is fairly corrosion-resistant and relatively affordable by comparison.
Gold and platinum also hold value as long-term investments thanks to their industrial uses. Both of these precious metals have numerous industrial applications. Platinum takes the cake on the industrial front, being a vital component in catalytic converters.
Platinum jewelry is the perfect choice for a lifetime of everyday wear. Its density and weight make it a durable jewelry metal. Platinum does not wear away and holds precious stones firmly and securely.
Price. Platinum: Despite being nearly identical in appearance, platinum is more valuable than gold. Platinum's high price point can be attributed to its rarity and density as precious metals are often priced by their weight.
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.
Ultimately, both gold and platinum have their unique advantages as investment options. While gold is a traditional safe haven asset with a long history of stability, platinum offers exposure to unique industries and potentially greater returns due to its volatility.