A precious metal is a chemical element of a rare metal that occurs naturally with high economic value. Chemically, precious metals tend to be less reactive than most elements (see precious metals). They are usually resilient and have high luster. Historically, precious metals are important as currency but are now considered primarily as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
The most famous precious metals are coin, gold and silver. Although both have industrial uses, they are better known for their use in art, jewelry, and currency. Other precious metals include platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, where platinum is the most widely traded. Demand for precious metals is driven not only by their practical use but also by their role as investment and store of value. Historically, precious metals have ordered much higher prices than ordinary industrial metals.
Video Precious metal
Bullion
A metal is considered as worth if it is rare. The discovery of new sources of ore or improvement in the mining or purification process can cause the value of precious metals to decrease. The "precious" metal status can also be determined by high demand or market value. Precious metals in bulk form are known as bullion and are traded on the commodity market. Bullion metal can be thrown into ingots or printed into coins. The defining attribute of the bar is that it is valued by mass and purity not by its nominal value as money.
Purity and mass
The degree of purity varies from one problem to another. "Three nine" (99.9%) of general purity occurs. The purest bulk-produced bullet coins exist in the Canadian Gold Leaf series, which reach purity up to 99.999%. A 100% pure bullion is almost impossible: as the percentage of dirt decreases, it becomes even more difficult to purify the metal further. Historically, coins have a certain amount of alloy weight, with local standard purity. Krugerrand is the first modern example of measurement in "pure gold": must contain at least 12/11 ounces of at least 11/12 pure gold. Other gold coins (eg British Sovereign) do not show the purity or weight of gold-fine on coins but are recognized and consistent in their compositions. Many coins have historically denominated in currency (eg American Double Eagle: $ 20).
Coinage
Many countries coin gold bars. Although nominally issued as a legal means of payment, the nominal value of this coin as a currency is well below their value as bullion. For example, Canada gave gold coins (Maple Gold Leaf) with a face value of $ 50 containing one troy ounce (31,1035 g) of gold - in May 2011, the coin is worth about 1,500 CAD as gold bullion. The printing of bullion coins by the national government gives them a numismatic value in addition to their bullion value, as well as their purity certification.
One of the biggest bullion coins in the world is a $ 10,000 Australian Gold Nugget coin printed in Australia consisting of one kilogram of 99.9% pure gold. In 2012, Perth Mint earns 1 ton coin from 99.99% pure gold with a nominal value of $ 1 million AUD, making it the largest coin printed in the world with a gold value of approximately $ 50 million AUD. China has produced very limited quantities of coins (less than 20 printed sheets) that exceed 8 kilograms (260 ozt) of gold. Austria has printed a coin containing 31kg of gold (Vienna Philharmonic Coin printed in 2004 with a face value of 100,000 euros). As an action to publish 99.999% pure Canadian Gold Maple Leaf one-ons series, in 2007 the Royal Canadian Mint made 100Ã,¬kg of 99.999% gold coins, with a face value of $ 1 million, and now manufactures them to order, but at a substantial premium above the gold market value.
Economic use
Gold and silver, and sometimes other precious metals, are often seen as hedges against inflation and economic downturn. Silver coins have become popular among collectors because they are relatively affordable, and, unlike most of the market-valued gold and platinum, silver issues are more often valued as collectibles, much higher than actual bar prices.
Maps Precious metal
Aluminum
Precious metals that initially became common were aluminum. While aluminum is the third most abundant element and the most abundant metal in the Earth's crust, it was initially found very difficult to extract metals from various non-metallic ores. The large expenditure of metal purification makes the quantity of available pure aluminum smaller than gold. Aluminum rods were exhibited at the Exposition Universelle in 1855, and the most important guests of Napoleon III were fed aluminum utensils, while those who ate less with silver. In 1884, the pyramidal tombstone of the Washington Monument was a 100-ounce pure aluminum mold. At that time, aluminum was as expensive as silver. The Anteros statue above the Shaftesbury Memorial Fountain (1885-1893) at Piccadilly Circus in London is also made of cast aluminum. Over time, however, metal prices have dropped. The dawn of a commercial power station in 1882 and the discovery of the Hall-HÃÆ' Â © roult process in 1886 caused the price of aluminum to drop substantially in the shortest time.
Rough world market price ($/kg)
See also
References
External links
- Precious Metals Fraud Commodity Futures Trading Commission, Precious Metals Advisor Scams
Source of the article : Wikipedia
0 Comments