Other Metal Bullion

A precious metal is a rare metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements, have high luster, are softer or more ductile, and have higher melting points than other metals. more...

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Historically, precious metals were important as currency, but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.

The best-known precious metals are gold and silver. While both have industrial uses, they are better known for their uses in art, jewellery and coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded.

The demand for precious metals is driven not only by their practical use, but also by their role as investments and a store of value. Palladium, as of January 29, 2008, is valued at $388 USD per troy ounce, which is less than half the price of gold, at $995 USD/ounce. Platinum's price of $2,032 USD/ounce is more than twice that of gold. Rhodium is usually the most expensive of the precious metals, over 4.5 times more expensive than platinum, with a current price of $7,150. However, the price of rhenium has been fluctuating wildly recently and at the moment it is selling at 342 USD per ounce ($11,000 per kilogram, 32.15 Troy ounces per kilogram, July 2008). Meanwhile, ruthenium is valued at $525 USD per ounce and silver has fluctuated as well lately, trading at $16.69 USD/ounce. Silver is substantially less expensive than all of the other precious metals, presently less than 1/50 the price of gold, but is often traditionally considered a precious metal for its role in coinage and jewellery.

With precious metal prices on the rise recycling precious metals has become more and more attractive.

Bullion

A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish. The status of a \"precious\" metal can also be determined by high demand or market value. Precious metals in bulk form are known as bullion, and are traded on commodity markets. Bullion metals may be cast into ingots, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.

Many nations mint bullion coins, of which the most famous is probably the gold South African Krugerrand. Although nominally issued as legal tender, these coins' face value as currency is far below that of their value as bullion. For instance, Canada mints a gold bullion coin (the Gold Maple Leaf) at a face value of $50 containing one troy ounce (31.1035 g) of gold — as of September 2007, this coin is worth about $737 as bullion. Bullion coins' minting by national governments gives them some numismatic value in addition to their bullion value, as well as certifying their purity.

Read more at Wikipedia.org