Precious Metals

There are four main precious metals that are sought out by computer scrappers: gold, silver, platinum and palladium.


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Gold:

Gold is a dense, soft, shiny, malleable and ductile metal and is a chemical element with the symbol Au and atomic number 79.

Gold has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history. Gold standards have been the most common basis for monetary policies throughout human history, being widely supplanted by fiat currency starting in the 1930s. The last gold certificate and gold coin currencies were issued in the U.S. in 1932. In Europe, most countries left the gold standard with the start of World War I in 1914 and, with huge war debts, failed to return to gold as a medium of exchange.

A total of 165,000 tonnes of gold have been mined in human history. This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8500 m3, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.

 

Silver:

Silver is a metallic chemical element with the chemical symbol Ag (Latin: argentum, from the Indo-European root *arg- for “grey” or “shining”) and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal. The metal occurs naturally in its pure, free form (native silver), as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining.

Silver has long been valued as a precious metal, and it is used as an investment, to make ornaments, jewelry, high-value tableware, utensils (hence the term silverware), and currency coins. Today, silver metal is also used in electrical contacts and conductors, in mirrors and in catalysis of chemical reactions. Its compounds are used in photographic film, and dilute silver nitrate solutions and other silver compounds are used as disinfectants and microbiocides. While many medical antimicrobial uses of silver have been supplanted by antibiotics, further research into clinical potential continues.

 

Platinum:

Platinum is a chemical element with the chemical symbol Pt and an atomic number of 78.

Its name is derived from the Spanish term platina, which is literally translated into “little silver”. It is a dense, malleable, ductile, precious, gray-white transition metal.

Even though it has six naturally occurring isotopes, platinum is one of the rarest elements in the Earth’s crust and has an average abundance of approximately 5 μg/kg. It is the least reactive metal. It occurs in some nickel and copper ores along with some native deposits, mostly in South Africa, which accounts for 80% of the world production.

As a member of the platinum group of elements, as well as of the group 10 of the periodic table of elements, platinum is generally non-reactive. It exhibits a remarkable resistance to corrosion, even at high temperatures, and as such is considered a noble metal. As a result, platinum is often found chemically uncombined as native platinum. Because it occurs naturally in the alluvial sands of various rivers, it was first used by pre-Columbian South American natives to produce artifacts. It was referenced in European writings as early as 16th century, but it was not until Antonio de Ulloa published a report on a new metal of Colombian origin in 1748 that it became investigated by scientists.

Platinum is used in catalytic converters, laboratory equipment, electrical contacts and electrodes, platinum resistance thermometers, dentistry equipment, and jewelry. Because only a few hundred tonnes are produced annually, it is a scarce material, and is highly valuable and is a major precious metal commodity.

 

Palladium:

Palladium is a chemical element with the chemical symbol Pd and an atomic number of 46. It is a rare and lustrous silvery-white metal discovered in 1803 by William Hyde Wollaston. He named it after the asteroid Pallas, which was itself named after the epithet of the Greek goddess Athena, acquired by her when she slew Pallas. Palladium, platinum, rhodium, ruthenium, iridium and osmium form a group of elements referred to as the platinum group metals (PGMs). These have similar chemical properties, but palladium has the lowest melting point and is the least dense of them.

The unique properties of palladium and other platinum group metals (PGMs) account for their widespread use. A quarter of all goods manufactured today either contain PGMs or have a significant part in their manufacturing process played by PGMs.[2] Over half of the supply of palladium and its congener platinum goes into catalytic converters, which convert up to 90% of harmful gases from auto exhaust (hydrocarbons, carbon monoxide, and nitrogen dioxide) into less-harmful substances (nitrogen, carbon dioxide and water vapor). Palladium is also used in electronics, dentistry, medicine, hydrogen purification, chemical applications, and groundwater treatment. Palladium plays a key role in the technology used for fuel cells, which combine hydrogen and oxygen to produce electricity, heat, and water.

Ore deposits of palladium and other PGMs are rare, and the most extensive deposits have been found in the norite belt of the Bushveld Igneous Complex covering the Transvaal Basin in South Africa, the Stillwater Complex in Montana, United States, the Thunder Bay District of Ontario, Canada, and the Norilsk Complex in Russia. Recycling is also a source of palladium, mostly from scrapped catalytic converters. The numerous applications and limited supply sources of palladium result in the metal attracting considerable investment interest.