What is Platinum?

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What is Platinum?

Platinum is a metallic element, element 78, symbol Pt, on the periodic table. Pure platinum is silver-white in color, dense, malleable and ductile, and is one of the rarer elements within the Earth's crust. Because of its rarity just a few hundred tonnes of the metal are produced annually, and as a result it is highly valuable, both for its industrial and chemical uses, and as a commodity.

Principle uses of platinum include in catalytic converts, electrical contacts, laboratory equipment, platinum resistance thermometers, dentistry equipment, and, of course, jewelry. Compounds containing platinum are also used in chemotherapy treatment for some types of cancer. Many of the uses of platinum arise from the fact that the metal is relatively unreactive and thus resistant to corrosion, but has stable electrical properties, and yet is more ductile than gold, silver, or copper.

As already noted, platinum is extremely rare in the Earth's crust. When found, it is often found uncombined ("native platinum"), or alloyed with other platinum-group metals or iron. Native platinum is most frequently found in alluvial deposits, including in Colombia, and Russia. The largest producer of platinum in the world today is however South Africa, which produces about three-quarters of the world production.

Native platinum nuggets:

Platinum, gold and silver alloys are rated for purity, in terms of parts per thousand. Here are the common millesimal grades for platinum:

999.5 - Considered by dealers as if 100% pure. It is the common purity expected for platinum bullion and bars.
999 - Sometimes referred to as "three nines fine".
950 - Most platinum jewelry is of this purity.
925
900 - Sometimes referred to as "one nine fine".
850
750

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