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 Gold $1,781.50   $-28.70  Silver $22.65   $-0.77  Platinum $970.80   $-3.00  Palladium $2,390.60   $30.90

People have invested in gold and silver for centuries, and exchanging precious metals is one of the oldest ways to purchase and trade for items. One of the relatively new precious metals to invest in is platinum. Platinum is rarer than gold and silver, making it a popular way to diversify a portfolio. Read on for some interesting facts about this precious metal and how it can make for a great investment option, brought to you by the experts from First National Bullion. San Diego precious metals collectors know they can rely on us for high-quality service and unmatched reliability.

1. Platinum Is Rare

Platinum is 30 times more rare than gold. One comparison between these two precious metals says all the platinum that’s ever been mined could fit into the living room of the average house, while the mined gold could fill many homes. This rarity is what makes many people choose to invest in platinum bullion.

2. It Was Named by an Italian Physicist

Platinum was first discovered in 1557 by an Italian physicist named Julius Scaliger in South America. However, there’s some evidence it was used before this time by pre-Columbian civilizations. The name for platinum comes from the Spanish word platina. Legend says it was discovered while Scaliger was searching for gold. According to the tale, the physicist threw the small platinum rocks into the river, hoping the water would turn it to gold.

3. Platinum’s Special Attributes Make It Ideal for Jewelry

The metal is resistant to oxidation at any temperature. It’s also unaffected by acids and won’t tarnish or corrode. These properties make it ideal for making jewelry that lasts for generations.

4. It’s Widely Used in Medicine

Its noncorrosive properties combined with its being nontoxic make platinum a popular choice in the medical world. The metal is used in dental crowns and is among the essential components in pacemakers, catheters, stents, and implantable defibrillators. It’s also considered an antitumor agent and is used in several anticancer drugs.

5. Platinum Is More Common in Space than on Earth

Moon rocks are partially composed of platinum, and it’s found in heavy concentrations in meteorites. Platinum mines are found in only a few places on Earth, including Russia, South Africa, and South America. This means it may be easier to find platinum in space than on Earth.

6. Its Most Popular Use Is in Cars

Of the 118 metric tons of platinum mined per year, more than half of it is used to make catalytic converters, which are responsible for reducing toxic gas emissions from cars. Because platinum only melts at extremely high temperatures, it can withstand the heat produced by the catalytic converter to reduce vehicle emissions.

7. Platinum Is Becoming a Popular Investment Option

Experts recommend diversifying a portfolio to withstand changes in the market. Platinum is one way to accomplish this. Platinum is rare, difficult to find, and in high demand. The rules of supply and demand drive up the price of the precious metal. The price of platinum steeply increased in 2020 due to a supply deficit. Experts believe this supply deficit will keep the price of platinum very high for a long time.

If you’re building an investment portfolio and looking for the best place to purchase San Diego gold and bullion as well as platinum and other precious metals, reach out to the trustworthy professionals at First National Bullion. We can answer all your questions and help you find all the information you need on how precious metals can be great investments. Give one of our experienced dealers a call today at 858-666-6570.

The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.

By |2020-11-19T01:47:29-08:00November 19th, 2020|Miscellaneous|0 Comments