There are six platinum group metals
Also known as PGMs, platinum group metals are all transition metals that can be found in limited quantities on Earth. The six PGMs are described as follows:
Represented by the symbol Pt and atomic number 78. The name of this chemical element comes from Spanish and is derived from the translation for "little silver". An important characteristic of platinum is that it is one of the rarest elements found in the Earth's crust. So rare that only a few hundred tons of it are mined every year. Platinum does not react with oxygen from the air. It is most often used in jewellery production and in equipment that must withstand high temperatures. For investors, to buy physical platinum is an increasingly popular option.
Has the symbol Pd and atomic number 46. It is silvery white in colour and chemically resembles platinum. Palladium was discovered around two hundred years ago and is believed to be named after the newly discovered asteroid Pallas. It is mainly mined in Russia, Canada, USA and South Africa. In addition, like other PGMs, it is a recyclable metal. This means that it can also be extracted from scrap. Because palladium is heat-resistant and resistant to rapid corrosion, this precious metal is mainly used for making catalytic converters for vehicle. As well as this, palladium is used to make white gold.
Like palladium, rhodium was discovered in the 19th century by Englishman William Hyde Wollaston while the chemist was investigating crude platinum ore. Rhodium is known by the symbol Rh and has the atomic number 45. This precious metal is also silvery white in colour. Its name is derived from the Greek word for rose and it is mined in the United States, South Africa and Russia. Rhodium is the rarest precious metal on earth: only around 30,000 kilos of rhodium are produced annually.
Is silvery white and has the symbol Ru and atomic number 44. Its name comes from the Latin word for Russia. In small amounts, ruthenium is used to make titanium, palladium or platinum hard and wear-resistant. An important property of this precious metal is that it only oxidizes at very high temperatures. Like rhodium, ruthenium is very rare and extracting it is a complicated process as it must first form a powder that can then be fused together into a single piece of metal by argon arc welding.
The chemical element iridium was discovered together with osmium and is known by the symbol Ir and atomic number 77. Due to the array of colours that were visible during the dissolution of platinum ore in aqua regia, this metal was given a name derived from the goddess of the rainbow, Iris. Iridium ended up on Earth at the end of the prehistoric period due to a meteor crash. As a result, a thin layer of it was left behind as a residue. Iridium is mostly used in alloys to make materials harder.
Is the highest density chemical element in existence with the symbol Os and atomic number 76. The name Osmium is derived from the Greek word for stench, which most likely refers to the unpleasant and overpowering odour of osmium(VIII) oxide. Osmium occurs in the natural alloy known as iridiosmium. The metal is actually not used in its pure state, but in alloys to provide wear resistance.
Why buy platinum group metals?
Perhaps not as obvious as it is to buy gold or silver, however buying platinum group metals is yet another way of owning a piece of rare precious metal. Both the scarcity and the (industrial) applications of these metals make them interesting to expand your portfolio. The trading prices of these metals are subject to fluctuations and are influenced by, among other things, supply and demand.When platinum group metal prices rise, products such as platinum bars, palladium coins, etc., become more valuable. So you can choose to sell these items at such a time or to keep them as an investment for later. The current sales prices can be found on the product pages in our webshop.
Investment-grade platinum, palladium, rhodium…
Do you want to convert part of your assets into metals from the platinum group? Then you can easily and securely purchase these online. Depending on the precious metal, you can choose from a range of bars and coins. The properties of these products are comparable to the well-known precious metal gold and silver products. This means that bars and coins are made from such precious metals in very high purity and pressed into a handy piece of metal, often with a certificate and serial number. Curious about the possibilities? Look for each precious metal which products are currently available.