What is Platinum

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Platinum is a lustrous silver-white metal that has the same visual properties of silver. This shiny precious metal is categorized in the third series of the transition elements listed in the periodic table of elements. The name platinum was taken from the Spanish term Platina del Pinto, when translated means “a little silver of pinto river.”

This precious metal is said to be a dense, yet malleable and ductile. It is also known to resist corrosion that occurs in other metals. This characteristic makes platinum the logical choice to be used in different uses such as for catalytic converters, jewelries, medical and laboratory equipment, electrical parts, electrodes, platinum resistance thermometers and dentistry equipment among many other uses.

Platinum is found in sands of rivers in some parts of the world. The first recorded use of this precious metal dates back to 1557 when the Italian humanist Julius Caeser Scaliger wrote about a certain silver metal that neither fire nor any Spanish artifice was able to soften. And for the next couple of decades and centuries, metallurgical experts and scientists all took part to study and experiment with platinum and its high melting point.

Then in 1772, Carl Von Sickingen was able to successfully create a malleable platinum material by using gold as an alloy. He used a method of melting the alloy in an aqua regia solution and using ammonium chloride to precipitate platinum, igniting the ammonium chloroplatinate and eventually beating it to make the divided portions combine.

Commercially, platinum is acquired as a by-product of nickel and copper mine processing. There are very few platinum only mines. As copper goes through its electro-refining process, metals such as silver, gold and other platinum based metals are filtered to the bottom to form anode mud. This compound is used for the extraction of platinum-group metals.

Today, Platinum is used in many different applications. One example is the use of platinum as a catalyst in creating chemical reactions. Since the 1800’s, platinum has been used in powder form to catalyze the detonation of hydrogen. For this purpose, platinum is also used in motor vehicles as a catalytic converter, as this enables the absolute combustion of low concentrations of unused hydrocarbon from the release of carbon dioxide and a chemical substance composed of hydrogen and oxygen. Platinum is essential for many of the emission control devices.

Platinum is also used as an investment option together with other precious metals such as gold and silver. And similar to other metal investments, it also comes in different forms such as platinum bars, platinum coins and platinum ingots. The price of platinum tends to be higher than gold and silver during stable economic conditions. But during economic downswings, platinum’s value goes low as gold is considered to be the safer investment choice. This is probably because of gold’s historic role as money and platinum’s role as an industrial commodity.

This precious metal has been used in a plethora of practical applications throughout history. Though it may not have the allure of gold and silver for most people, this precious metal does have some advantages over the two. And in time, with gold and silver supply diminishing, platinum may very well be the next best investment option for some eager and aspiring investors.

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