Topic: Precious Metals


Summary

Precious Metals are rare metals that have a high economic value, which is not only driven by their practical uses (such as using them as parts in machines, etc), but also by their usage as Money.

Precious Metals tend to be used as Money. And tend to be used in making Jewelry.

Gold and Silver

Gold and Silver have been the traditional precious metals, and are probably what most people think of when they hear the word "precious metals".

Platinum and Other Precious Metals

Other precious metals include: Platinum, Iridium, Osmium, Palladium, Rhodium, and Ruthenium. (These Metals make up what is called the Platinum Group Metals.)

Former Precious Metals

At one time, Aluminium was considered a precious metal, despite it not being rare, and being one of the most commonly occuring Chemical Elements on Earth. Initially, it was extremely difficult to extract pure aluminium from its various ores. This made pure aluminium, which had been found, or refined at great expense, more valuable than Gold.

Essentially, pure aluminium was rare or very expensive to purify, until less expensive purification techniques were figured out. (Namely, until the what is called the Hall-Héroult Process was figured out.) Aluminium is no longer consider a precious metal, and can be found everywhere.

See Also
-- Mirza Charles Iliya Krempeaux
       

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