Precious metals are called precious because of their rarity. And because of that, it would only be sensible to think that these metals come at a price. But just how much do these precious metals cost? Well, you are about to find out!
The 10 Most Expensive Precious Metals On Earth
#10 Indium – Approximately $630 Per Kilo
Indium is a white metal and is very soft. Initially, in World War II, it was used as a layer in aircraft engines. Now it is mainly used for making low-melting point alloys and for fabrication of corrosive-resistant mirrors.
#9 Silver – Approximately $1,145 Per Kilo
Silver is a naturally occurring metal that has countless applications. It is most often used in jewelry, but also used in solar energy, water purification, dentistry, photography, electronics, windows, biology, medicine, clothing, industrial applications and in art. Silver has the property of being able to stop the spread of bacteria, control odors, and prevent mold growth in treated wood.
#8 Rhenium – Approximately $2,750 Per Kilogram
Rhenium is one of the rarest elements on the Earth. It is both dense and has a high melting point. It is used in high-temperature turbine engines, and more commonly used in electrical contacts, thermocouples, and filaments.
#7 Osmium – Approximately $13,000 Per Kilogram
Osmium is one of the densest elements on Earth. It is bluish-silver in color, and is a very durable and hard metal. It is often alloyed with other metals to make them harden, and used with platinum to harden electrical contacts.
#6 Ruthenium – Approximately $14,000 Per Kilogram
Ruthenium is a metal that was discovered in 1844 by a Russian scientist named Karl Karlovich. Ruthenium is part of the platinum metal's group and is most commonly used as an alloy for platinum and palladium to increase its hardness and make it more corrosion-resistant. It's primary application is for use in jewelery and electrical contacts.
#5 Iridium – Approximately $16,500 Per Kilogram
This metal has a very high melting point and is very dense. It is the most corrosion-resistant metal of all metals, and even acid has next to no effect on it. Iridium is used in medicine, and in the electronics and automotive industries.
#4 Palladium – Approximately $23,500 Per Kilogram
Palladium is used by automotive manufacturers in catalytic converters due to its stability under hot conditions, and is also used to create white gold alloys. It is also used to coat electrical components. It is a grayish-white substance and is very rare.
#3 Platinum – Approximately $27,000 Per Kilogram
Platinum is a very rare metal, and is used in cancer treatments, engine making and in expensive jewelry. However, the price for platinum is very unstable and can fluctuate in price more than bitcoin; it can be either more or less expensive than gold.
#2 Gold– Approximately $35,000 Per Kilogram
Second on the price list is the familiar metal, Gold. Gold is highly sought-after, not only for jewelry, but also for use in electronics, due to its high conductivity.
#1 Rhodium – Approximately $350,000 Per Kilogram
Topping the list is Rhodium. Rhodium is the most valuable metal on Earth. This expensive metal is highly reflective and is often used in mirrors, search lights, and as a coating for jewelry.