One of the most famous groups of precious metals that you’ve probably heard of at some point of your adventures with precious metals would be the platinum group. The platinum group of metals is mentioned frequently by investors, because it’s definitely one of the most interesting group of metals that you can come across in the periodic table of elements. Some people are not entirely sure just what exactly it is that makes this group special, or even which metals it consists of, here are a few words about the platinum group which should help you get a better understanding of it.
The platinum group of metal consists of 6 different metals all of which are located somewhere in the middle of the periodic table of elements. Metals which are members of the platinum group are rhodium, ruthenium, palladium, osmium, iridium and platinum. Group of named after platinum because it was one of the first metals from this group of very similar looking metals that we’ve come across. At first people didn’t think platinum was very valuable, but with the development of science and subsequently with the development of industry, a lot of places were found where platinum has turned out to be the best choice of metal to be used.
With time all the other metals from the platinum group were found, but of course they were not immediately called that, the platinum group. It took some time for the people to notice that the six metals which we have previously mentioned are very close to each other in the period table of elements, and not only that, they all have pretty much the same physical qualities.
If you look at the periodic table of elements you’ll find that these two metals are all next to each other. They span across two rows, somewhere in the middle of the table, with platinum being the last one. That’s perhaps the reason why the entire group is called after platinum, but it’s far more probable that the reason why the group is called that way is because of the previously mentioned fact that platinum was the first one out of the six that we’ve become familiar. People have notice the similarities between the physical characteristics.
You probably know about the appearance that platinum and palladium have, they are both very similar in appearance, and the same thing is true for every other metals from the platinum group. The metals which can be found in that group are all silvery white to grayish and color. They are also very much so resistant to tarnish, and similar to gold, they are all very scarce. In fact they are even more scarce than gold. Compare to some of the less known metals from the platinum group, like for example the ruthenium and osmium, gold is abundant. With only a couple of tens of tonnes being produced, compare that to over 1500 tonnes of gold which is being produced.
Interestingly enough the price for these precious metals isn’t that high. Majority of them costing less than 1000$ per troy ounce, the precious metals from the platinum group are a great choice for you to make your investment. Even though we have discovered a lot of uses for metals from the platinum group, majority of them are not that much in demand. We use platinum and platinum the most, that’s why they have such high prices. All the others haven’t really found any uses, and for these reasons there’s no high demand, and so there’s is no high buck being divided for the precious metals content, cfor the content of the precious metals.