If you are new to the world of coin collecting, jewelry making, or any other field hobby that involves precious metals, you are likely to come across the acronym, “PGM”, at some point in time. Continue reading to learn what this industry abbreviation stands for, and what it has to do with precious metal profiting.
Platinum Metal Recycling 1-888-586-5322
Platinum Group Metals
The industry acronym, “PGM” stands for Platinum Group Metals. They are also known as platinum family, platinoids, platinum group elements (PGE’s), platinides, and platidises. Platinum Group Metals represent a set of 6 transitional metals that all share similar properties, and can be categorized as a subset of precious metals. Not only are these 6 transitional metals found all grouped together on the periodic table of elements (platinum is represented as Pt with an atomic number of 78), they are also commonly found co-existing together in minerals.
PGM LIST:
▶ Rhodium (Rh)
▶ Ruthenium (Ru)
▶ Palladium (Pd)
▶ Platinum (Pt)
▶ Iridium (Ir)
▶ Osmium (Os)
PGM PROPERTIES:
▶ Resistant to Chemical Attacks
▶ High Density
▶ Catalytic Properties
▶ Corrosion-Resistant
▶ Stable Electrical Properties
▶ Tarnish-Resistant
Attributes of Platinum
Platinum is dense, malleable, ductile, corrosive-resistant, and retains a very high melting point. These properties make platinum highly valuable in various industries all over the world. Platinum is used to make automotive parts, medical instruments, dental work, bullion, jewelry, and more. Even some cancer medications are formulated with platinum. Platinum is important to the metal industry since it retains higher economic value compared to other common precious metals like gold, palladium, and silver. In fact, the current market value for platinum metal is around $800 an ounce.
Anyone selling a used or busted catalytic converter can really expect a nice profit at a scrap metal yard. Anyone who owns platinum jewelry or currency can also assume their investment is sound. Although the current price for platinum is relatively strong, precious metal values are constantly changing and can drop or rise at any time. Contact a trusted Indianapolis scrap metal buyer for accurate information about current platinum prices, and how to sell your precious metals for cash on the spot.
Where to Recycle Precious Metal in Indianapolis
Garden City Iron and Metal 1-888-586-5322