We are familiar with gold and silver as valuable commodities, but what other metals would go into a list of top ten valuable metals today? The list may surprise you. Prices are per troy ounce and are based on Mid-May 2014 prices.
10. Indium: This metal is used in everything from aircraft engines to flat panel video screens. It is found in China, Korea and Japan and is named for its slightly blue color. At $23 per ounce it is more valuable than silver.
9. Silver: Many people put silver right behind gold as the two most valuable metals. If you think this way, this won’t be your first surprise on our list. Today, silver is less than $20 per ounce, recently trading at $19.35 per ounce.
8. Ruthenium: This is a bright gray metal that has found its way into the electronics industry. Ruthenium is a hard metal that doesn’t break down easily. Like its relative Platinum, Ruthenium is tough and beautiful. While like most metals, it prices have dropped recently, it is still valued at about $72 per ounce.
7. Rhenium: This metal is good at holding up to heat, and because of that, is used in thermocouples. You will also find it used in turbine engines. It is valued at about $92 per troy ounce.
6. Osmium: Mined in Russia and in North and South America, this very tough metal can be difficult to work with. Like other platinum based metals it has a high melting point. Osmium can be even dangerous to work with because it emits a toxic oxide. At $360 an ounce, there is no questioning its value however.
5. Iridium: This metal is dense and has a very high melting point. What help makes it so valuable is that it is so resistant to any type of corrosion. Even acids have no real effect on iridium. Because it is so tough it is hard to work with but can be polished to a brilliant sheen. It is selling for about $580 per troy ounce.
4. Palladium: This metal was named after the Greek goddess Pallas and is used in everything from catalytic converters to creating “white gold” for jewelers. At about $814 per troy ounce, it makes number four on our list.
3. Rhodium: This is a very shiny and silvery metal that is used for everything from reflective search lights to re-coating jewelry to restore its luster. About 60% of Rhodium comes from South Africa and the metal is very rare. Prices for Rhodium are about $1020 per troy ounce.
2. Gold: Gold crested over two-thousand dollars an ounce not all that long ago, buy has fallen on hard times. Many think it is the most valuable metal on Earth, but as you see, it is not number one on our list. Recently Gold was trading at $1,292 per troy ounce.
1. Platinum: Platinum is durable and beautiful. Its shiny appearance makes it appreciated in the world of jewelry and its durable aspects make it important in the area of aeronautics and weaponry. Platinum is produced mainly in South Africa, Russian and Canada and its $1,460 per troy ounce price tag puts it at the top of our list