A metal is generally considered precious if it is rare.
precious metals have tobe extracted from the earth's crust before they can be used. That's different from paper money, which governments can print. The abundance of elements found in the Earth's crust is measured in parts per million (ppm).
The four main precious metals are gold, silver, platinum and palladium. Depending on the application, there are common alloying elements that can be mixed with major precious metals to improve the properties of the final product. There are other items of interest that are also used in jewelry or accessories made of non-precious metals. The most precious metals are rhodium, platinum, gold, ruthenium, iridium, osmium, palladium, rhenium, silver and indium.
While their value varies over time, it is indisputable that these metals maintain a level of greed above other metallic elements. Although they can carry a certain degree of security, there is always a certain risk when investing in precious metals. As an investment, precious metals are often sought to diversify portfolios and as a store of value, particularly as a hedge against inflation and in times of financial uncertainty. Precious metals are metals that are rare and have a high economic value due to several factors, including their scarcity, their use in industrial processes, the hedge against currency inflation and their role throughout history as a store of value.
Bronze, iron and brass were, then, the metallic materials on which successive peoples built their civilizations and with which they manufactured their instruments for war and peace. Precious metals are mined and traded as a way to protect against inflation and offer the benefit of being able to invest in a physical asset. They are also the minerals of most metals used by industry, such as antimony, bismuth, copper, lead, nickel and zinc. Platinum's high price can be attributed to its rarity and density, as precious metals are often valued based on their weight.
Due to its attractiveness, durability and malleability, gold remains one of the most popular metals and investment options. While aluminum is the third most abundant element and the most abundant metal in the Earth's crust, it was initially discovered that it was extremely difficult to extract metal from its various non-metallic minerals. This extremely rare precious metal is defined as a silver-white, robust and corrosion-resistant, inert transition metal. However, there are certain chemical and physical characteristics that are shared by the elements we know as precious metals.
Precious metals used in industrial processes, on the other hand, include iridium, which is used in special alloys, and palladium, which is used in electronic and chemical applications.