Precious Metal Determinants: Rarity And High Economic Value...

A metal is considered “precious” if it is rare and is of high economic value. Under these two factors, nine metallic chemical elements qualify as precious metals. These are, in no particular order, gold, palladium, silver, rhodium, iridium, ruthenium, platinum, osmium, and rhenium. So that while the chemical element tellurium is considered one of the rarest element in the Earth’s crust (its mass abundance being the same as that of rhodium, iridium, and ruthenium), its estimated price is only less than 5 U.S. dollars per troy ounce, and, therefore, cannot be considered a precious metal. The same can be said of bismuth, which has a mass abundance half less than that of palladium, but with a price of...

posted on: Aug 3, 2014 | author: admin

Placer Mining: Three Methods Used To Mine Placer Gold...

The word placer, as will be found throughout here, is derived from the same Spanish word which means “sandbank”. It specifically refers to an alluvial deposit of detrital material, such as gravel, which contains particles of precious chemical elements. The term “placer gold”, therefore, refers to gold that has formed in rocks moved and placed on stream beds by some geological forces and by the action of water. Lode gold tends to erode from its source, distributing itself naturally among other rocks that have been subjected to similar geological forces. This results to the formation of a secondary deposit. Thus the mining of alluvial deposits for gold and other precious metal deposits is called “placer mining”. Placer mining...

posted on: Aug 3, 2014 | author: admin

Palladium And Platinum As Investment Commodities...

Palladium and platinum are two of nine metallic chemical elements considered “precious” for their rarity and high economic value. Like all the other precious metals, palladium and platinum have various industrial uses. But apart from these, both are also regarded as investment commodities. Palladium as an investment commodity: Palladium is valued at around US$415 per troy ounce. Actually, this is much lower than its price of more than one thousand U.S. dollars per troy ounce in early 2001, when the automobile industry placed a high demand for the precious metal for use as catalytic converters. As an investment commodity, palladium may be bought in forms of bullion coins or bars. Palladium bullion coins are internationally recognized forms of...

posted on: Aug 3, 2014 | author: admin

Gold And Silver: The Two Precious Traditional Coinage Metals...

Four transition metals make up group 11 of the periodic table of elements. All, except one, are considered traditional coinage metals. Qualifying this further, only two of these three traditional coinage metals are considered precious metals. These are gold and silver. Gold and silver are rare and have high economic values. These things can’t be said of copper, the other traditional coinage metal. Occurring in nature in metallic form, these two precious metals can be produced sans the use of extraction metallurgy. These other characteristics of gold and silver make them both well suited for coinage: • They are not radioactive. • They are more ductile or softer than most other elements. • They are less reactive compared...

posted on: Aug 3, 2014 | author: admin

Bullion: Mass Of Precious Metals

Bullion is a mass of any one of the known precious metals. By strict definition, precious metals are those metallic elements that are rare. Bullion is commonly made of either gold or silver. Its value is determined by the worth of the metal rather than by its face value as money. To put it another way, bullion is valued based on the mass and purity of the metal used, instead of its artificial currency value. New sources of ore have been discovered and there also have been improvements in the mining and refining processes. These two factors may cause the values of gold, silver, and the other precious metals to diminish. Also, the “precious” qualification of a metal...

posted on: Aug 3, 2014 | author: admin

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