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Encyclopedia > Precious metal
A gold nugget

A precious metal is a rare metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements, have high luster, are softer or more ductile, and have higher melting points than other metals. Historically, precious metals were important as currency, but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum and palladium each have an ISO 4217 currency code. Precious Metal is the eighteenth episode in the third season of the popular American crime drama CSI: Crime Scene Investigation, which is set in Las Vegas, Nevada. ... Commons:Image:GoldNuggetUSGOV.jpg File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Commons:Image:GoldNuggetUSGOV.jpg File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... This article is about metallic materials. ... The periodic table of the chemical elements A chemical element, or element, is a type of atom that is defined by its atomic number; that is, by the number of protons in its nucleus. ... Face-to-face trading interactions on the New York Stock Exchange trading floor. ... Reactivity refers to the rate at which a chemical substance tends to undergo a chemical reaction in time. ... Lustre (American English: luster) is a description of the way light interacts with the surface of a crystal, rock or mineral. ... Ductility is the physical property of being capable of sustaining large plastic deformations without fracture (in metals, such as being drawn into a wire). ... The melting point of a crystalline solid is the temperature range at which it changes state from solid to liquid. ... This article does not cite any references or sources. ... GOLD refers to one of the following: GOLD (IEEE) is an IEEE program designed to garner more student members at the university level (Graduates of the Last Decade). ... This article is about the chemical element. ... General Name, Symbol, Number platinum, Pt, 78 Chemical series transition metals Group, Period, Block 10, 6, d Appearance grayish white Standard atomic weight 195. ... For other uses, see Palladium (disambiguation). ... ISO 4217 is the international standard describing three letter codes (also known as the currency code) to define the names of currencies established by the International Organization for Standardization (ISO). ...


The best-known precious metals are gold and silver. While both have industrial uses, they are better known for their uses in art, jewellery and coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium and platinum, of which platinum is the most widely traded. Rhenium is a precious metal that is not part of the platinum group or one of the traditional precious metals. This article is about the philosophical concept of Art. ... For the Korean music group, see Jewelry (group). ... A currency is a unit of exchange, facilitating the transfer of goods and services. ... The platinum group or platinum metals is the collective name sometimes used for six chemical elements within the periodic table. ... General Name, Symbol, Number Ruthenium, Ru, 44 Chemical series transition metals Group, Period, Block 8, 5, d Appearance silvery white metallic Atomic mass 101. ... General Name, Symbol, Number rhodium, Rh, 45 Chemical series transition metals Group, Period, Block 9, 5, d Appearance silvery white metallic Standard atomic weight 102. ... General Name, Symbol, Number osmium, Os, 76 Chemical series transition metals Group, Period, Block 8, 6, d Appearance silvery, blue cast Standard atomic weight 190. ... This article is about the chemical element. ... General Name, Symbol, Number rhenium, Re, 75 Chemical series transition metals Group, Period, Block 7, 6, d Appearance grayish white Standard atomic weight 186. ...


The demand for precious metals is driven not only by their practical use, but also by their role as investments and a store of value. Palladium, osmium and iridium, as of September 23, 2007, are valued at $340, $380 and $425 USD per troy ounce, respectively, which is about half the price of gold, at $737 USD/ounce. Platinum's price of $1,332 USD/ounce is less than twice that of gold. Rhodium is usually the most expensive of the precious metals, over 4.5 times more expensive than platinum, with a current price of $6,150. However, the price of rhenium has been fluctuating wildly recently and at the moment it is selling at 5,950 USD per ounce, just below rhodium. Meanwhile, ruthenium is valued at $525 USD per ounce and silver has fluctuated as well lately, trading at $13.47 USD/ounce. Silver is substantially less expensive than all of the other precious metals, presently less than 1/50 the price of gold, but is often traditionally considered a precious metal for its role in coinage and jewellery. [1] To act as a store of value, a commodity, a form of money or financial capital must be able to be reliably saved, stored, and retrieved - and be predictably useful when it is so retrieved. ... is the 266th day of the year (267th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... The United States dollar is the official currency of the United States. ... Troy weight is a system of units of mass customarily used for precious metals and gemstones. ...

Contents

Bullion

A 500 gram silver bullion bar produced by Johnson Matthey

A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish, as in the example of aluminium, which was considered a precious metal before the development of the Hall-Héroult process made it possible to extract aluminium on a large scale. The status of a "precious" metal can also be determined by high demand or market value. Precious metals in bulk form are known as bullion, and are traded on commodity markets. Bullion metals may be cast into ingots, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money. Image File history File linksMetadata Download high resolution version (1024x768, 150 KB) Summary 500g silver bullion bar produced by Johnson Matthey. ... Image File history File linksMetadata Download high resolution version (1024x768, 150 KB) Summary 500g silver bullion bar produced by Johnson Matthey. ... Johnson Matthey plc (LSE: JMAT) is a British chemical company which has its headquarters near Holborn in central London. ... Image File history File links Image of American Platinum Eagle bullion coin (reverse side) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... Image File history File links Image of American Platinum Eagle bullion coin (reverse side) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... The American Platinum Eagle is the official platinum bullion coin of the United States. ... Commons:Image:Gold ingots. ... Commons:Image:Gold ingots. ... A gold bar is a gold ingot which may be produced in many different types, weights and categories. ... Sveriges Riksbank (Swedish National Bank) is the central bank of Sweden, sometimes called just the Bank of Sweden. ... Aluminum redirects here. ... The Hall-Héroult process is the major industrial process for the production of aluminium. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ... Market capitalization, often abbreviated to market cap, mkt. ... This article is in need of attention. ... Modern gold ingots from the Bank of Sweden An Ingot is a mass of material cast into a shape which is easy to handle. ... This article is about monetary coins. ... Face Value is the title of Phil Collins debut solo album, released in February of 1981. ... For other uses, see Money (disambiguation). ...


Many nations mint bullion coins, of which the most famous is probably the gold South African Krugerrand. Although nominally issued as legal tender, these coins' face value as currency is far below that of their value as bullion. For instance, Canada mints a gold bullion coin (the Gold Maple Leaf) at a face value of $50 containing one troy ounce (31.1035 g) of gold — as of September 2007, this coin is worth about $737 as bullion. Bullion coins' minting by national governments gives them some numismatic value in addition to their bullion value, as well as certifying their purity. This is a list of bullion coins in circulation: Gold coin Silver coin Platinum coin Palladium coin This is a disambiguation page: a list of articles associated with the same title. ... This article does not cite any references or sources. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ... Gold coins are one of the oldest forms of money. ... Obverse of a Gold Canadian Maple Leaf bullion coin. ... September 2007 is the ninth month of that year. ... This article needs cleanup. ...


The level of purity varies from issue to issue. 99.9% purity is common. The purest mass-produced bullion coins are in the Canadian Gold Maple Leaf series, which go up to 99.999% purity. Note that a 100% pure bullion is not possible, as absolute purity in extracted and refined metals can only be asymptotically approached. Usually a bullion coin contains a stated quantity (such as one troy ounce) of the slightly-impure alloy; the Krugerrand is unusual in containing one troy ounce of actual gold, with the impurity making the coin heavier than one ounce. An asymptote is a straight line or curve which a curve approaches as one moves along the curve. ... An alloy is a homogeneous hybrid of two or more elements, at least one of which is a metal, and where the resulting material has metallic properties. ... This article does not cite any references or sources. ...


One of the largest bullion coins in the world is the 10,000 dollar Australian Gold Nugget coin minted in Australia which consists of a full kilogram of 99.9% pure gold. There have been a small number of larger bullion coins, but they are impractical to handle and not produced in mass quantities. China has produced coins in very limited quantities (less than 20 pieces minted) that exceed 260 troy ounces (8 kg) of gold. Austria has minted a coin containing 31 kg of gold. As a stunt to publicise the 99.999% pure one-ounce Canadian Gold Maple Leaf series, in 2007 the Canadian Mint made a 100 kg 99.999% gold coin, with a face value of $ 1 million, and now manufactures them to order, but at a substantial premium over the market value of the gold. The Australian Gold Nugget is a gold bullion coin minted by the Perth Mint. ... Mint flag The Royal Canadian Mint (RCM, french Monnaie royale canadienne) produces all of Canadas circulation coins, and manufactures circulation coins on behalf of other nations. ... “C$” redirects here. ...


Gold and silver are often seen as hedges against both inflation and economic downturn. Silver coins have become popular with collectors due to their relative affordability, and unlike most gold and platinum issues which are valued based upon the markets, silver issues are more often valued as collectables, far higher than their actual bullion value. Reserves of foreign exchange and gold in 2006 A pile of 12. ... A 500 gram silver bullion bar Silver, like other precious metals, may be used as an investment. ... In finance, a hedge is an investment that is taken out specifically to reduce or cancel out the risk in another investment. ... Silver coins are possibly the oldest form of money. ...


Precious metal status

An interesting case of a once-precious metal that is now common is that of aluminium. Although aluminium is one of the most commonly occurring elements on Earth, it was initially found to be exceedingly difficult to extract from its various ores. This made the little available pure aluminium which had been discovered (or refined at great expense) more valuable than gold. Bars of aluminium were exhibited alongside the French crown jewels at the Exposition Universelle of 1855, and Napoleon III was said to have reserved a set of aluminium dinner plates for his most honored guests. Additionally, the pyramidal top to the Washington Monument is made of pure aluminium. At the time of the monument's construction, aluminium was more expensive than silver, gold, or platinum. Over time, however, the price of the metal has dropped; the invention of the Hall-Héroult process in 1886 caused the high price of aluminium to permanently collapse. Aluminum redirects here. ... Iron ore (Banded iron formation) Manganese ore Lead ore Gold ore An ore is a volume of rock containing components or minerals in a mode of occurrence which renders it valuable for mining. ... This article or section does not cite any references or sources. ... Images of the Palais dIndustrie The Exposition Universelle of 1855 was a Worlds Fair held in Paris, France. ... This article is about the President of the French Republic and Emperor of the French. ... The Washington Monument at dusk For other Washington Monuments, see Washington Monuments (world). ... The Hall-Héroult process is the major industrial process for the production of aluminium. ... Year 1886 (MDCCCLXXXVI) was a common year starting on Friday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Sunday of the 12-day slower Julian calendar). ...


See also

This is a list of bullion coins in circulation: Gold coin Silver coin Platinum coin Palladium coin This is a disambiguation page: a list of articles associated with the same title. ... Reserves of foreign exchange and gold in 2006 A pile of 12. ... A 500 gram silver bullion bar Silver, like other precious metals, may be used as an investment. ... Palladium, like other precious metals, may be used as an investment. ... For other uses, see Gemstone (disambiguation). ... A hallmark is an official marking made by a trusted party, guardians of the craft or nowadays by an assay office, on items made of precious metals (platinum, gold and silver) that guarantees a certain purity of the metal. ... Modern gold ingots from the Bank of Sweden An Ingot is a mass of material cast into a shape which is easy to handle. ... Troy weight is a system of units of mass customarily used for precious metals, black powder, and gemstones. ...

External links


  Results from FactBites:
 
Precious metal - Wikipedia, the free encyclopedia (773 words)
Other precious metals include the Platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded.
The demand for precious metals is driven not only by their practical use, but also by their role as investments and a store of value.
Precious metals in bulk form are known as bullion, and are traded on commodity markets.
  More results at FactBites »

 
 

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