We’ve all heard the never-ending hullabaloo surrounding gold as a precious metal investment. Even silver gets more media pub than the other metals in the family, even though a recent spot quote put it in lowly 11th place ranked by value on world market trading. Here’s a snapshot in case you’re curious about how they match up.
1. Platinum – $42,681 / kg
2. Rhodium – $39,680 / kg
3. Gold – $31,100 / kg
4. Iridium – $14,100 / kg
5. Osmium – $13,400 / kg
6. Palladium – $8,430 / kg
7. Rhenium – $7,400 / kg
8. Ruthenium – $2,290 / kg
9. Germanium – not a precious metal
10. Beryllium – not a precious metal
11. Silver – $437 / kg
The prices quoted are per kilogram, not per ounce, as those of us in the US might be familiar with. So what makes a metal so precious anyway? Sorry to be simplistic but metals come to be known as precious either because they are rare or through heavy market demand. Aluminum is a good example of the former. While aluminum is one of the most common elements on earth, extracting it is a costly process.
Don’t get all excited and run down to the nearest pawn shop with rolls of cheap department store cooking aluminum foil under your arms, prepared to make your fortune in a most ingenious manner. Sorry, not enough in there, by weight, to make you rich.
The Holistic Survival Team
Flickr / quinn.anya
