Precious Metals Platinum and Palladium are interesting options for investors looking to diversify their portfolios or seeking alternatives to Gold and Silver. We’ve compiled some information about these two rare metals to assist you in making an informed Platinum or Palladium investment decision :
Platinum was discovered by the Spanish while mining gold in South America in the 17th century. Today, (in addition to investment) Platinum is used in a wide array of industries, with its primary use being in the auto industry. It is favored for its density, and often used in fine jewelry, as well as consumer goods varying from computer hard drives, drugs, to fiber optics & gasoline. It is said that Platinum is used in some way with about 20% of consumer goods. Most Platinum production comes from South Africa. It is considered more rare than the other precious metals due to the amount annually mined from deposits in comparison.
Palladium, like Platinum is a rare and lustrous silvery-white metal. It was discovered in 1803 by English chemist William Hyde Wollaston. He named it after the asteroid Pallas, which itself had been named after the Greek goddess slain by Athena. Like Platinum, Palladium is often used as an industrial catalyst. It is also used often in fine jewelry. In many industries, palladium is thought of as a more cost-effective substitute for platinum because of its larger supply.
Investing in Platinum and Palladium
Rarity combined with growing industrial use has made Platinum and Palladium more and more popular for investors. Citizens Gold carries a wide variety of Platinum and Palladium bullion coins and bars, as well as Numismatic coins and rarities.