William Hyde Wollaston discovered rhodium in a South American platinum ore in 1803. The first rhodium compound discovered was a rose color, so it was named after the Greek word for rhodium, “rhodon,” (which translates to rose). It is often used to coat white jewelry and made headlines in 1979 when Paul McCartney received a rhodium-plated disc for being the all-time highest-selling songwriter/artist. The spot price of rhodium exceeded $9000.00 in 2008. Today, it can be purchased for a fraction of its former highs, making rhodium an excellent alternative to Gold and Platinum. The annual world production of Rhodium is only about 1/10th the amount of Platinum produced.