Platinum
Platinum is one of the rarest occurring substances on Earth, and is the rarest of all precious metals. The natural occurrence of platinum in the Earth’s crust is only 0.003 parts per billion, making it thirty times rarer than gold. It is estimated that all of the world’s platinum reserves only contain a combined total of 250 kilograms of platinum, which is only enough to fill an Olympic Swimming pool up to some ones ankles, where as all the gold in the world would fill up over three such swimming pools. Because of its rareness, platinum is considered a very high valued commodity and trades for around $2,050 US Dollars per ounce, as compared to gold which sells for $975 US Dollars per ounce, and silver, which only trades for about $20 US Dollars per ounce.
Because of its rareness, platinum is not specifically mined for. It is usually produced as a by product of nickel ore mining and processing, though it is usually found as only 0.5 part per million in the nickel ore. Because of this, the top platinum producing countries in the world are South Africa, Russia, and Canada, followed by several South American countries, as platinum can be found naturally in the Ural Mountains. It should be noted that the top platinum producing countries, with exception to South American countries, also happen to be the top nickel producing countries in the world as well. However, if one wanted to find high concentrations of natural platinum, they would have to travel to the moon, where natural platinum deposits occur more naturally than on Earth.
Because of the rarity of platinum, it has always been a symbol associated with wealth and exclusivity. Platinum is a precious metal, though it is less commonly used in jewelry than gold or solver is. The frame of the Crown of Queen Elizabeth is made out of platinum and it was the first British crown to be produced using platinum. Platinum is the heaviest of any precious metal, weighing almost twice as much as a karat of gold. Because of its strength, platinum is mainly used in jewelry as a means of securing diamonds and other gems to a particular piece. Some jewelry is predominantly made of platinum, and due to its strength it will not wear down. Platinum jewelry is between 90 percent and 95 percent pure, compared to 18 Karat gold which is only 75 percent pure, and 14 Karat gold which is even less pure at on 57 percent.
Platinum also has a wide variety of uses in other industries, including automobiles, photography, and watch making. In automobile manufacturing, platinum is used as a catalyst in spark plugs, and fuel cells. Because of the strength of platinum, it is the perfect metal for these parts as it does not wear down easily and is durable. Platinum compounds are also used in various medical procedures, and can be used to cross link DNA and kill cells. In photography, platinum is used as a means of archiving photos as it results in extremely long lasting prints, and displays a greater range of tones as compared to black and white print methods. However, because of the price of platinum, this method can become rather expensive, therefore it is not practical in most cases. Additionally, platinum is less light sensitive and a print must be made from contact with the negative, meaning that if the photo needs to be enlarged, the negative must also be enlarged. Many prestigious watch makers also use platinum in their watches, including Vacheron, Rolex, Breitling, and Patek Philippe. Because of platinum’s unique properties, as well as its strength, it is often used on special of limited edition watches.
