In the world of precious metal investments, there’s more than just gold, silver, and platinum. If you want to diversify your precious metal portfolio, we highly recommend rhodium. Used in everything from jewelry and mirror finishes to electronic connections and aircraft turbine engines, rhodium is a highly valuable precious metal. Here is what you need to know about rhodium.
History
Rhodium was discovered along with palladium by British chemist and physicist William Wollaston in 1803. Together with platinum and palladium, rhodium belongs to the platinum group metals (PGM). Despite being a key component in the automotive industry, as well as its use in glass making and electrical connections, rhodium is one of the rarest precious metals on the planet.
Supply
South Africa is the major world supplier of Rhodium, accounting for more than 80% of the world’s rhodium supply. Russia is the second largest rhodium producing country in the world. Unfortunately, geopolitical tensions have made Russian rhodium supplies volatile and subject to political intervention.
Prices
Rhodium’s price performance has been very volatile in recent years. From 2003 to 2008, the average price of rhodium rose from $530/oz. to just over $10,000/oz. Today, rhodium is trading at less than $1,600/oz. Experts recommend approaching rhodium investments with a strategy to take profits at a pre-determined level or to hold for a long period of time.
If you have questions about rhodium or any other precious metal, contact California Numismatic Investments. With over 30 years trade experience, we are one of the most trusted precious metal dealers in the United States. Visit our website to see all of our precious metal investment opportunities, or call us toll-free at (800) 225-7531 to speak with one of our precious metal trading experts.