Two of the most recognizable precious metals – gold and platinum – have long since taken a strong root in our culture. From phrases like “platinum blond” or “platinum album” to “solid gold,” we have an inherent understanding about the value of gold and platinum in both our society and as individuals.
Why are gold and platinum so valuable? As precious metals, they are both extremely rare to find – platinum more so than gold – and have a number of properties that make them very useful, as well. Platinum, for example, has a very high melting point, making it resistant to heat, while gold is highly malleable and can be pounded down into thin sheets for gilding.
But which of these two is the more valuable? We already know that silver, another precious metal, is more plentiful than both of these elements, and is subsequently less expensive. What about gold and platinum themselves? Which wins a “value” contest? Let’s take a deeper look into both of these metals to determine which is really more valuable.
First, let’s look at the value of gold. On December 5th, 2008, gold was worth $754.60, a price per troy ounce, which is approximately 31 grams in weight. To put that in perspective, a pound is over two-thousand grams in weight. That shows how highly valued gold consistently is, as well as the inherent worth in trading gold.
Second, why is gold so valuable in the first place? After all, it’s just a nice, shiny metal, right?
Well, the less of something there is, and the harder it is to obtain, the more it will be worth. Gold follows these principles, as it is not always easily mined and comes at a high price for mining and processing, at least in comparison with other metals.
Gold is also extremely valuable for a number of practical reasons – it is a very malleable substance that can be heated as well as pounded into new shapes. It is so durable that it can sustain its integrity even when pounded so thin it becomes known as “gold leaf,” which is then used for decoration and for gilding.
As of December 5th, 2008, platinum was worth $805.00 per troy ounce, putting it (for the time being) ahead of gold in terms of value. Price fluctuations do occur, so it is possible for gold to “technically” become more valuable than platinum at certain points in the market.
Platinum, however, is an extremely rare metal, even harder to find than gold. It doesn’t share the exact properties of gold – for example, you won’t find much “platinum leaf” around – but it does have a very high resistance to heat and its melting point is extremely high.
In our culture, platinum has become known as “higher than gold,” which has lead to platinum’s status as the title of albums that sell more than 1,000,000 copies. Gold albums, for example, sell less than platinum albums, although it should be noted that “diamond” albums outsell them all.
Working with Platinum and Gold
Gold and platinum share many characteristics as precious metals, but many differences as well. For one, gold and platinum are easily distinguishable; this is not so true with platinum and silver, for example. While it might be hard to tell gold from fool’s good, platinum and gold share distinct looks; a white-silver sheen and a yellow shine, respectively.
Online metal brokers are looking for both of these precious metals because both are extremely valuable. They are also looking for silver and other articles and stones you can find in jewelry, such as diamonds, as these can be recycled and resold, giving them new life. If you have any jewelry that is sitting around unused, broken, or simply gathering dust, contact precious metal brokers to find out how you can work with gold and platinum and start selling these precious metals.
If you decide to work with ABC them, they’ll be able to send you insured mailing so that you can send your gold, platinum, or silver in a package to them without worrying about security or potentially losing your lost items. This insured mailing package is free of charge to you; all you have to do is send these precious metals and they’ll handle the rest.
Once they have given you a check for the gold, platinum, and silver you’re able to send them, you can decide if you want to complete the transaction simply by keeping the check. To investigate the true value of gold and platinum, and see which is more valuable for you, contact a precious metal broker today.