Platinum has long been a prized precious metal for its beautiful appearance and durability. However, as any jewelry lover or precious metal collector can attest, platinum is expensive. Palladium looks like platinum but costs far less. As you invest in precious metals, it is important that you understand the distinctions between platinum and palladium so you can make wise choices as you buy and sell. Consider the following facts about these two precious metals.
Platinum
Platinum is a very rare precious metal. Each year, about 15 times more gold is mined than platinum. Platinum looks silver-gray in color and gets less shiny with age. To be sold as platinum, an item must be at least 90 percent pure; anything less than 90 percent pure is sold as platinum alloy. Platinum is prized in the jewelry world because of its durability. It is heavier than gold and less vulnerable to damage. Platinum does not absorb oxygen, so it doesn’t corrode. One important fact to note about platinum is that unlike gold, there is no metal lost when it gets scratched. Instead, the metal simply becomes displaced. Investing in platinum is more expensive than other precious metals, but the payout can also be sizable.
Palladium
Palladium is a relatively new entry to the precious metals market. It has long been used as an alloy with white gold but is now sold on its own. Palladium looks like platinum, and it offers a lower-cost alternative for shoppers who want the look of platinum without the price tag. Although it has a much lighter weight than platinum, it is extremely durable. Like platinum, metal sold as palladium must be 90 percent pure. Palladium is a less expensive way to invest in precious metals, and the market for palladium will only increase as more people learn about it.
California Numismatic Investments can facilitate the purchase and sale of platinum and palladium bullion while guaranteeing you the best price available. We can also help with gold and silver bullion and coins. Call us at (800) 225-7531 to find out more.