How To Buy Platinum » Platinum

Platinum Uses

Assistant Platinum Coach — Sat, 26 Dec 2009 05:04:02 +0000

Reading time: 2 – 4 minutes

Platinum is a metal that has only recently been used in a different application. Since its discovery, its uses have been very limited to jewelry due to the difficulties in melting and refining this metal. It was only during the 19th century that platinum was used for commercial applications when William Hyde Wollaston discovered its refinement process.

This breakthrough in platinum processing led to several developments in industrial fields to use platinum for a variety of applications.

Industrial Platinum Uses

In today’s modern world, platinum is considered to be a precious metal for a number of reasons. Almost 60% of the world’s production of platinum is used by the automotive industry for its use as a catalytic converter. The use of palladium in catalytic converters is slowly replacing platinum because of the expensive production costs of platinum. Nevertheless, it is still the current choice because of its high tolerance to extreme temperatures, chemical corrosion and stability as an electrical component.

Platinum is highly valued as an option for jewelry making. Aside from its other precious metal brethren such as gold and silver, platinum is also used in producing fine jewelries for its high-silver appearance. And like gold and silver, it is tarnish resistant, thus making it one of the most valued elements in jewelry making.

Its versatility can also be found in medical and dental fields. Since platinum alloy is highly resistant to tarnish and corrosion, it is one of top choice for use in dentistry, medical equipments and electrical products.

Platinum Investing

Lastly, platinum is also valued highly as a precious metal investment. Aside from the general choices of stocks, bonds, real estate and other investment tools, platinum is emerging to be one of the safer choices when it comes to precious metals investing. Similar to gold and silver investments, it is deemed to be an inflation-proof instrument that can serve as a back up to other investments, in an event of market instability or volatility. This can also be a great addition to investment portfolios that lack a stable investment vehicle.

And although people may prefer gold and silver since they are the most popular choices, platinum clearly outperforms them in terms of value and high returns. This goes to show that platinum investing will likely overtake gold and silver as the preferred choice when it comes to preserving one’s personal wealth. In fact, its value today has already surpassed the value of gold and silver, making it one of the most expensive precious metals today.

Conclusion

Platinum may be one of the youngest metals in the investment market today, but its value and projected growth has already exceeded the value of other established metals such as gold and silver. There can be no doubt that with more developments in its application in the future, more and more people will see the value of platinum as a highly versatile precious metal that has the capacity to provide better solutions in different industries.

Platinum Refining

Assistant Platinum Coach — Thu, 26 Nov 2009 05:23:03 +0000

Reading time: 3 – 4 minutes

If you have ever wondered about how to profit through the use of precious metals refining, but did not know the procedures or the basic order to do it, then this article is for you. You probably know that precious metals, such as gold, silver and platinum, are valued at a high price, and those in possession of these investments are bound to receive a lump sum of money once they decide to cash it in. Several enterprising individuals have used precious metals to preserve their wealth or for profit.

The Platinum Refining Process

Refining precious metals is a method that has been done for years to collect metals from jewelries, scraps and other materials to create nuggets either for their own use or others. Finding platinum to refine is not that difficult. Most computer boards and microchips contain platinum elements, so finding platinum can be rather easy if you have old electronics lying around the house.

Basically, the first step to refining any kind of metal is by melting it down using a blowtorch. After the element has melted, you will now have to immerse it in an acid bath to segregate it from other existing metals that may be attached. This acid bath is similar to the gold and silver refining process, and is indeed an integral process to produce the pure form of any metal. After this process, another liquid component will be added to the mix in order to create the solid form that can be used to make bullion.

For a lot of platinum refiners, the source of most of their platinum is old jewelry since this is an easier option than from electronic components. This is probably where you might focus if you plan to refine your own platinum. By using old jewelry, you will be saving time and money because it is a more efficient process.

For those that are new to this, it may seem like a daunting process, and at first it may be. But if you have the dedication and will to do this procedure at home, your work will pay off in the end. As you already know, platinum is a precious metal that has a lot of practical uses, and is valued highly as an investment. And by refining your own platinum, it can be a good starting ground for anyone who is interested in making a quick profit instantly.

Alternatives To Home Platinum Refining

If, however, you encounter difficulty in conducting your own platinum refining process, you can choose to have it done professionally. This of course will require a considerable amount of spending on your part, but nevertheless it will get the job done quicker for you. And you don’t have to worry about having to keep chemicals in your home.

Conclusion

Platinum is a precious metal for a number of reasons, from its practical daily applications in different industrial fields, uses in fashion as part of jewelry and its invaluable investment capabilities, knowing how to do refine this metals can sure lead to better things for your future. Many have already started to do their own refinement process at home, and with its lucrative money making potential, a lot of people will make a quick buck on this.

Selling Platinum

Assistant Platinum Coach — Fri, 07 Aug 2009 20:47:43 +0000

Reading time: 2 – 4 minutes

Most investors in the world have used precious metals such as investing in platinum to preserve their wealth. Aside from the usual array of investment vehicles available such as stock, bonds and mutual funds, precious metals investing is a far superior alternative when it comes to having a stable investment that is partially immune to economic cycles, war and any untoward negative events. And for today, we will discuss how investors will make some profit from selling platinum.

Liquidity in investments has always posed a problem for some investors. Since stocks and bonds are not easily transferable to cash quickly, other options such as precious metals investing has been the current focus for some.

Precious metals such as gold, silver and platinum are liquid investments that people have found to be the most easy and accessible option compared to others. Purchasing precious metals for investment is so much easier that stocks and bonds, which normally involves a broker and other third parties before a transaction is completed.

On purchasing platinum, a well as other metals, the aspiring investor can find reputable dealers on the Internet. Not only will this save them time, but also by doing this online, prospective investors can check the inventories of these online dealers. Reputable dealers will always inform buyers of available choices to suit their needs.

And similar to gold and silver, platinum also comes in different forms such as coins, bars and certificates. Having these choices give the investor better options than what other investments can offer. After purchasing the platinum bars from the dealer, investors can now take home their physical investment for safer storage. Unlike stock and bonds where a broker usually keeps track of the investment, platinum bars and platinum coins can be kept in a safe at home, free of charge.

Another option for investors is to refine existing platinum. Since there are junkyards that may have platinum scraps, you can easily acquire them for your profit. Of course, you will still need to get special equipment and refine the metal, but by doing this at home; you can save on other charges that may arise. In fact, this can also be a start of a new business venture for you.

Selling platinum can be a great way to make some money. Platinum that is kept for longer periods will have its price appreciate more than those that will sell it instantly. And since platinum is a rare commodity these days, its price will surely go up in the next couple of years providing investors with great returns on their invested capital. So for investors with long-term financial goals, then time is definitely on their side.

And just by finding the right time and opportunity to sell. Platinum investors can reap extra income compared to the others that have sold their investments much earlier.

To further help you in getting more information on how you can earn some profit from platinum, please feel free to browse other articles posted on this site.

Platinum Mining

Assistant Platinum Coach — Mon, 03 Aug 2009 20:47:04 +0000

Reading time: 3 – 4 minutes

Mining for precious metals, like gold, silver or platinum, has always involved special methods in extracting elements from the ground. The reason for this is that each metallic element needs a different process to be removed and separated from other metals. Platinum mining is not the same compared to other mining operations like gold, silver, copper or zinc.

And unlike these metals, where they are sometimes extracted in pure form, platinum on the other hand is a by-product. This means that platinum is much harder to extract than existing metals. Rare as it may be, platinum is considered more expensive than other mined metals since it also involves the use of costly equipment to refine it. And that is a reason that makes platinum mining such a specialized operation.

The cost of maintaining a platinum mining operation is relatively high compared to gold mine or silver mining. Since most of the equipment used is focused entirely on platinum gathering, traditional mining techniques such as sluicing and hard wall extraction are supplemented by additional methods.

The sources for platinum are considered scarce. Most, if not all the platinum mined in the world is sourced from platinum deposits in South Africa or Russia with some from Latin American countries as well as in North America. And from these countries, the average number of platinum mined in the world amounts to just 7 million ounces, and collectively this is a starling comparison to the amount of gold every year, which is around 75 million ounces. This low annual worldwide platinum production is a reason which explains that platinum is rarer than gold and silver and may be more sought after by investors and collectors.

In the search for platinum deposits, it has been found that this element is widely spread out in various areas. Platinum elements are minuscule compared to gold nuggets and silver ore. Platinum is sometimes a by-product of other mining operations so gathering platinum is sometimes by chance. The weight of platinum is generally heavier than gold and thus makes it much easier to separate from gold, but this factor also causes refinement procedures to be difficult.

Platinum is considered to be an expensive commodity these days. Aside from its uses in industrial, fashion and electronics fields platinum is considered as a very good investment tool to preserve wealth. It is no wonder that platinum has been given the nickname of “rich man’s gold.” If you are interested in learning how platinum can help you as an investment tool this site has complete references for this purpose. There are may reasons to buy platinum.

In learning about platinum mining, there are various sources that can be found on the Internet. There are forums and communities that are created to cater to any questions regarding platinum. I highly suggest that you read other articles on this site to further enhance your knowledge on the subject. It is our goal to help educate you on how this precious metal plays a key role in various industries and applications all around the world.

Platinum Mines

Assistant Platinum Coach — Tue, 14 Jul 2009 16:22:45 +0000

Reading time: 2 – 4 minutes

For thousands of years gold and silver have always taken the center stage when it comes collecting and investing in precious metals. Platinum, on the other hand, has always been overshadowed by these two precious metals. Since platinum has an extremely high melting point, previous civilizations did not have the knowledge or technology to refine platinum for practical uses.

It was not until recent years that most people have started to use platinum in different applications. And since that time, platinum has elevated its status from a relatively worthless metal to one of the most sought after metallic elements for its looks, rarity and durability.

Mining platinum is a very interesting process since it is found differently compared to gold and silver. When mining for platinum, the search is difficult since the element is not found in its pure state. It comprises different techniques to extract platinum in its basic state and the refining process also involves other complex procedures before it is completed.

And unlike gold where the deposits are in large quantities, platinum are scattered all over the earth’s crust and bonded to other metals, but in smaller sizes. This fact alone makes platinum mining such a complicated process compared to other mining operations and can also be a factor on why this metal has a higher value than gold.

When looking for platinum deposits, there are mines located all over world and in such places as Northern and Southern America, South Africa and Russia. Aside from the mentioned places, Mexico also some platinum mines. But out of all the places, South Africa has some of the largest reserves in the planet, by which accounts for about 77% of the world’s platinum production.

Since platinum is bonded to other metals when mined; miners and refiners use several techniques to extract platinum in its pure form. Platinum is heavier than gold, and this factor alone makes it easy for it to be separated from gold and other similar materials. However, since platinum is bonded to more than just one metal, several refining procedures such as acid baths and melting sessions will be needed to complete the process. And as platinum is completely removed from the other elements, platinum dealers will most likely buy it to sell for jewelry and other applications.

Mining for platinum involves more than the typical procedures of sluicing and hammering. The process of mining this element has been refined over years of constant development of science and technology. And with the current search for platinum reserves continues, more mining and extraction procedures will be created to go deeper into the earth’s crust.

And with platinum’s value projected to increase over the next couple of years, more people will turn to it as a good investment option, thus creating more demand for better mining and extraction techniques in the future. This in turn will also fuel other development on the applications of platinum as well.

History of Platinum

Assistant Platinum Coach — Tue, 14 Jul 2009 16:17:21 +0000

Reading time: 2 – 4 minutes

Platinum, as precious metal is relatively young compared to other valued metals such as gold or silver. Since ancient times, gold and silver has always been valued as symbols of wealth; signs of prosperity that are reserved for kings and pharaohs. And platinum, unlike gold and silver, was considered to be an ordinary metallic element since it was difficult to dissolve, melt because of its extremely high melting point and fashion to be used in various applications.

The discovery of platinum dates back to the 16th century in South America when Spanish Conquistadors first arrived. In 1557, a written record made by Julius Caesar Scaliger, an Italian Humanist, indicates the discovery of “an unknown noble metal that cannot be melted by fire.” During this time however, the study of metallurgy was not yet fully established and methods for correctly melting and refining platinum were still to be discovered.

By the 18th century, science was already taking hold of developments in different fields and it was the same for the study of platinum. Several scientists have taken notice of the high melting point of platinum and its above average resistance to corrosion. For sever years, many scientists have tried to melt platinum with different yet unsuccessful methods.

However in 1751, a researcher named Sheffer in the country of Sweden was able to successfully melt platinum just by the use of arsenic. He also documented platinum as a new kind of element. This discovery was just the start for other scientists and researchers to gain more understanding of platinum and its characteristics.

By 1782, the first true melting of platinum was discovered. A scientist named Lavoisier used Oxygen, which was also recently discovered at the time, for the melting process. It would eventually take another 25 years before practical uses of platinum were derived from the said method. Platinum was first used for decorative purposes on porcelain as well as for making laboratory instruments.

By the next century, the further developments in science and technology have started to embrace this research with more fruitful discoveries. During 1802, the refinement process was developed and this resulted in the discovery of palladium. In the following years, other metallic elements within the platinum metals group such as osmium, iridium and rhodium were discovered as well.

The discoveries of these metals prompted scientists like Percival Norton Johnson of England to began working on how to refine these platinum derived elements. And in 1851, together with his then partner George Matthey, perfected the method of separating and refining these platinum metals. And both went on to create the standard metre of platinum and iridium.

Though platinum is considered to be a recent discovery compared to gold and silver, its history reveals its development in melting and refining procedures encompassed more than a century before finally achieving its current techniques. And as more technologies are being developed for mining and refining there will be more improvements that will contribute for its future uses.

What is Platinum

Assistant Platinum Coach — Tue, 14 Jul 2009 08:37:50 +0000

Reading time: 2 – 4 minutes

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.

Disadvantages of Saving in Platinum

Assistant Platinum Coach — Tue, 02 Dec 2008 01:14:02 +0000

Reading time: 2 – 4 minutes

The goal of preserving your wealth in platinum has several advantages such as its immunity to inflation and economic events that can cause other investments to dive down in value. In comparison with stocks, it is safe and liquid making it such an easy investment vehicle if you want more comfort and ease of transactions.

In fact, platinum investments can really paint a picture perfect investment scenario for new investors that are considering of taking up this new endeavor.

But such as in life and with other matters, platinum investment is not always perfect, in fact, some of its positive factors can also prove to be a liability at times that can contribute to more expenses and worries for the investor.

In this article, we hope to provide a contrasting picture on how platinum investments can also be detrimental as a saving platform for your wealth. And in no way shall this article be bias, but rather, present the facts that only you, after weighing the pros and cons, can ultimately decide if this is the right investment tool for you.

By now, you are probably aware that platinum investing offers different formats such as bars, coins and certificates, and as such that these options are deemed to be comfortable by most investors. And although they are correct to judge that it is different than stocks being an intangible investment and platinum tangible, keeping bars and coins can also be a nuisance once the novelty eventually wears off from the investors.

The dreadful reality sets in that keeping these types of investments involves the purchase of safety deposit box at home to store the items. And if you are the type of investor that prefers to have your investments stored elsewhere, in a bank for example, then you have to worry about maintenance fees that can eat up your savings every month.

Of course, let us not forget the risk involved in keeping high-priced rare metals in your home, maintaining a level of secrecy within your community and friends can also elicit negative response at times, since exposing information on your investment can lead to robberies and illegal trespassing on your property. Paranoia will eventually set in every time you will leave home without proper security in place.

Another disadvantage that you will eventually have when you save in platinum is its impracticability in terms of transporting from one place to another place. Since it bars and coins are not safe to be carried off in a handbag or brief case, special containers must be purchased from special vendors so that you investment is safe while in transit.

Also remember that when your priority is saving money for your future, having unnecessary expenses for such a physical investment can sometimes backfire on your plans.

The value of platinum is now higher than gold, which means that any demand will drive it to a much higher trend, but by analyzing past performances of other investments that had high prices, it will eventually fall down – fast. And if history is a basis for any type of investment, then this fact holds true that platinum will eventually depreciate at one point.