Precious metals have been used for thousands of years for their beauty and durability (sometimes even as a currency). Precious metals like gold and silver have always been valuable because they’re rare and easy to store in small quantities.
They Are Rare
While most metals are abundant in our Earth’s crust, precious metals are not as common. Precious metals’ rarity stems from their unique properties and how difficult it is to extract them from the Earth. An increase in demand for this precious metal causes its price to rise because demand outpaces supply.
They Are Durable
Gold and silver don’t corrode, tarnish, or oxidize like many other metals. They also resist heat better than most other metals, which means they can be used in various industrial applications like electronics and jewelry. Companies like Money Metals can help you get precious metals.
Precious metals are also resistant to wear and abrasion. This means that you can use them for jewelry without worrying about them getting scratched or dented over time. That’s especially important for people who are frequently exposed to harsh environments, such as athletes or soldiers, who may often have their valuables on display during training exercises or combat missions.
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They Are Malleable
Malleability is the ability to be pounded into thin sheets. It’s a key feature of precious metals, which means that they can be used for jewelry and high-quality coins. This property sets them apart from other types of metal such as iron, nickel, or copper—all of which are brittle and unsuitable for use in these applications.
Precious metals can be hammered into a specific shape by striking them with a hammer and anvil (or vice versa). When you do this, the metal usually changes its shape without losing its mass or volume; this is how coins get their round shapes from being hammered on a coin die during minting.
Precious metals are also ductile means they can be drawn or stretched into wires, hammered into sheets, rolled into thin sheets, and drawn into fine wires. These properties make precious metals easy to work with and adapt to different uses.
They Have a High Melting Point
Gold’s melting point is 1064°C, silver’s is 962°C, and platinum’s is 1777°C. The higher a metal’s melting point, the more difficult it becomes to melt down and reshape into something else unless you have special equipment or expertise. This makes them harder to counterfeit than other coins or bars that contain only one metal with a lower melting point.
They Are Chemically Inert
This means that they don’t react with most chemicals. You can put your gold necklace in vinegar or your silverware in lemon juice—the metal will stay brilliant and untarnished.
They Can Be Polished to a Mirror-like Luster
This makes them more attractive and valuable than other types of metal. With a shiny surface, precious metals are also more durable than matte surfaces. Most valuable precious metals possess a distinct hue that any other material cannot reproduce. These hues are highly prized in jewelry and decorative arts because they have been associated with different cultures throughout history.
They Have a Wide Variety of Industrial Uses, Including Electronics, Healthcare, and More
Precious metal such as gold is used in electronics and computer chips because they can conduct electricity without corroding or melting if exposed to high heat. It’s also used in medical devices as a coating on stents or catheters to prevent blood clots from forming at their surface after insertion into the body. The precious metal has several other applications within industries such as aerospace (ejection seat handles), automotive (brake pads), chemical (producing chlorine gas which is then converted into sodium hydroxide during wastewater treatment plants)
They Have Been Sought After Since Early Civilizations as a Symbol of Wealth and Prosperity
Gold, as a metal, has been valued for thousands of years. Civilizations have prized it throughout history as an object of beauty, but also one that symbolizes wealth and prosperity. Many ancient cultures believed gold to be the “Golden God” who brought prosperity and good fortune to those who possessed it. This belief eventually led to its use as money by several early civilizations.
Precious metals are not as common as other materials but have many valuable properties. They are valuable and desirable because they are rare, durable, malleable, and beautiful. These characteristics make them ideal for use in jewelry and other forms of art, as well as industrial applications ranging from medicine to electronics.