Most valuable metal A valuable metal is a rare metallic chemical element of high economic value. In metal identification , the valuable metals are less unthinking than most elements, have high shine, and have higher melting points than other metals. Historically, valuable metals were important as currency, but are now regarded mainly as investment and industrial possessions. Gold, silver, platinum and palladium each have an ISO 4217 currency code. Most known valuable metals are gold and silver. While both have industrial uses, they are better known for their uses in art, jeweler, and coinage. Other precious metals contain the Platinum group metals: ruthenium, rhodium, palladium, osmium, iridium and platinum, of which platinum is the most widely traded.

Supply and demand for precious metals is driven not only by their practical use, but also by their role as funds and a store of value. Palladium is, as of March 11, 2007, valued at $350.00 USD per ounce, which is slightly above half the price of gold ($650.20 USD/ounce), and platinum ($1210.50 USD/ounce) at around twice that of gold. Silver is substantially less expensive ($12.82 USD/ounce) than these metals, presently at about 1/50 the price of gold, but is often traditionally considered a precious metal for its role in coinage and jewelry. Rhodium though is the most expensive of the precious metals with prices as high as $6200.00 USD per ounce (as of December 29, 2006).

Bullion In metal identification valuable metals in bulk form are identified as bullion, and are traded on product markets. Bullion metals may be put out into ingots, or minted into coins. The essential 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.. For instance, the United States mints a gold bullion coin (the Gold Eagle) at a face value of $50 containing 1 troy ounce (31.1035 g) of gold — as of January 2006, this coin is worth about $550 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. The level of purity varies from country to country, with some bullion coins of as pure as 99.99% available, such as the Canadian Gold Maple Leaf.

Note that a 100% pure bullion is not possible, as absolute purity in extracted and developed metals can only be asymptotically approached. One biggest bullion coin in the world is the 10,000 dollar Australian Gold Nugget coin minted in Australia which consists of a full kilogram of 99.9% pure gold; however China has formed coins in very limited quantities (less than 20 pieces minted) that exceed 260 troy ounces (8 kg) of gold. The Gold as an asset and silver as a venture are often seen as a hedge against both price rises and economic downturn. Silver coins have become popular with collectors due to their relative affordability, and unlike most gold and platinum issues which are valued based upon the markets, silver issues are more often valued as collectables, far higher than their actual bullion value.

Rank of valuable metal Generally a metal is deemed to be expensive if it is rare. The detection of new sources of ore or improvements in mining, in metal identification or refining processes may cause the value of a valuable metal to diminish. The status of a “valuable” metal can also be determined by high require or market value. Hence interesting case of a once-precious metal that is now common is that of aluminum. Although aluminum is one of the most commonly occurring elements on Earth, it was initially found to be exceedingly difficult to extract from its various ores. This made aluminum more valuable than gold. Bars of aluminum were exhibited alongside the French crown jewels at the Exposition Universelly of 1855, and Napoleon III was said to have reserved a set of aluminum dinner plates for his most honored guests. Additionally, the pyramidal top to the Washington Monument is made of pure aluminum, as at the time of the monument’s construction, aluminum was more expensive than silver, gold, or platinum. Over time, however, the price of the metal gradually dropped; the discovery of the Hall-Héroult process in 1886 caused the high price of aluminum to permanently collapse.