A Platinum Primer: Where does it come from, where it is used, how you can make money by investing in it?
With platinum currently trading at $940, it’s worth knowing all you can about this bright and beautiful precious metal. That’s why we’re covering the basics for you in today’s post.
Where Is Platinum Found?
Platinum is extremely rare, and almost never found in its pure form in nature. About the only exceptions are that small quantities of the metal can be found in Columbia and in Russia’s Ural Mountains. So what are the sources of all the world’s platinum that doesn’t come from recycled sources? Most often, it is obtained commercially as a byproduct of copper and nickel mining and refining
In addition, small quantities of platinum can be obtained as byproducts of plating and other industrial processes. Platinum has also been identified on meteorites and on the moon, where it could be commercially mined someday.
Where Can You Find Platinum to Recycle Profitably?
So if platinum is rare in nature and only occurs as a byproduct of other processes, where can you find it? Here are some items from which platinum can be extracted by a qualified precious metals refinery.
Platinum is most commonly found in these items . . .
Catalytic converters. It is estimated that 40% of the world’s available recyclable platinum is tied up in them.
Jewelry. It is estimated that about 30% of the world’s available recyclable platinum can be found in jewelry.
You can also find quantities of recyclable platinum in these items . . .
Bars, ingots and coins that are sold to investors
Electrical contacts and electrodes
Old spark plugs
Laboratory equipment
Medical devices
Platinum meshes and sponges that are used in plating and other industrial applications
Oxygen sensors that are used in aircraft, aerospace and laboratory applications
Not Sure If You Have Found Platinum?
If you own some items that could be platinum, call us at 800-426-2344 and send them to us for testing. Be sure to ask whether your items qualify for free or discounted shipping to our labs.
Related Posts:
A Brief History of Platinum
How to Tell the Difference Between Silver, White Gold and Platinum
Three Reasons Smart Platinum Investors Are Making a Fortune Today
Why Stuff that Doesn’t Glitter Could Be Platinum