You probably know that gold and silver are some of the most valuable metals on the planet, but did you know that other metals are even more expensive? Some of these metals are so rare and hard to find that they can cost thousands of dollars per ounce. Others have amazing properties that make them useful for various industries and technologies. In this article, I will tell you about the 10 most expensive metals in the world and why they are so pricey. Let’s get started!
Indium – $5 per gram
Indium is a soft and silvery metal that is mainly used for making electronic devices. It has a very high electrical conductivity and can form thin and flexible films on glass. This makes it ideal for creating touch screens, solar panels, and LED lights. Indium is also used to coat the engines of aircraft to prevent corrosion and reduce friction.
Indium is not very abundant in nature and is mostly found in zinc ores. It is also difficult to extract and refine, which adds to its cost. Most of the world’s indium comes from China, Japan, and South Korea. Indium costs around $5 per gram, which is about $140 per ounce.
Silver – $15 per ounce
Silver is one of the most well-known and widely used precious metals. It has a shiny and lustrous appearance and is very malleable and ductile. It also has the highest thermal and electrical conductivity of any metal, which makes it useful for many applications. Silver is used for making jewelry, coins, medals, mirrors, photography, dentistry, batteries, and electronics. It also has antibacterial and antifungal properties, which makes it useful for medical and hygiene purposes.
Silver is found in various minerals and ores, but it is also produced as a by-product of mining other metals like gold, copper, lead, and zinc. The largest producers of silver are China, Mexico, and Peru. Silver costs around $15 per ounce, which is about $0.5 per gram.
Osmium – $400 per ounce
Osmium is a very dense and hard metal that belongs to the platinum group. It has a bluish-gray color and a very high melting point. It is also very resistant to corrosion and wear. Osmium is mainly used for making alloys with other metals to increase their strength and durability. It is also used for making electrical contacts, filaments, and fountain pen tips.
Osmium is scarce. It is mostly found in platinum ores and meteorites. It is also very difficult to work with, as it can form toxic and volatile compounds when exposed to air. The main sources of osmium are South Africa, Russia, and North America. Osmium costs around $400 per ounce, which is about $14 per gram.
Ruthenium – $550 per ounce
Ruthenium is another member of the platinum group that has a silvery-white color and a high hardness. It is also very resistant to corrosion and oxidation. Ruthenium is used for making alloys with other metals, especially platinum and palladium, to improve their hardness and resistance. It is also used for making electrical contacts, electrodes, catalysts, and jewelry.
Ruthenium is one of the rarest metals on Earth and is mostly found in platinum ores. It is also very difficult to separate and purify, which adds to its cost. The main producers of ruthenium are Russia, Canada, and South Africa. Ruthenium costs around $550 per ounce, which is about $19 per gram.
Scandium – $595 per ounce
Scandium is a silvery-white metal that has a high melting point and a low density. It is also very reactive and can form compounds with almost all the elements. Scandium is used for making alloys with other metals, especially aluminum, to increase their strength and lightness. It is also used for making aerospace components, sports equipment, lasers, and lamps.
Scandium is not very abundant in nature and is mostly found in rare earth and uranium ores. It is also very expensive and difficult to extract and refine, which limits its availability and use. The main sources of scandium are China, Russia, and Ukraine. Scandium costs around $595 per ounce, which is about $21 per gram.
Platinum – $931 per ounce
Platinum is one of the most famous and valuable precious metals. It has a silvery-white color and a high density and ductility. It is also very resistant to corrosion and high temperatures. Platinum is used for making jewelry, coins, medals, catalysts, electrodes, and dental implants. It is also used for making fuel cells, which are devices that convert hydrogen and oxygen into electricity and water.
Platinum is scarce and is mostly found in South Africa, Russia, and Canada. It is also very difficult and costly to mine and refine, which adds to its value. Platinum costs around $931 per ounce, which is about $33 per gram.
Gold – $1,657 per ounce
Gold is the most popular and widely used precious metal. It has a yellow color and a high luster and malleability. It is also very resistant to corrosion and tarnish. Gold is used for making jewelry, coins, bars, medals, and art. It is also used for making electronics, dentistry, medicine, and aerospace. Gold is also considered a safe-haven asset and a store of value, especially during times of economic and political uncertainty.
Gold is found in various forms and places, but it is also very rare and difficult to extract and refine. The largest producers of gold are China, Australia, and Russia. Gold costs around $1,657 per ounce, which is about $59 per gram.
Palladium – $1,946 per ounce
Palladium is another member of the platinum group that has a silvery-white color and a high melting point. It is also very resistant to corrosion and oxidation. Palladium is mainly used for making catalytic converters, which are devices that reduce the harmful emissions from vehicles. It is also used for making electronics, dentistry, medicine, and jewelry.
Palladium is scarce and is mostly found in South Africa, Russia, and Canada. It is also very difficult and costly to mine and refine, which adds to its value. Palladium costs around $1,946 per ounce, which is about $69 per gram.
Iridium – $4,250 per ounce
Iridium is the most dense and hard metal in the world. It has a silvery-white color and a very high melting point. It is also very resistant to corrosion and high temperatures. Iridium is used for making alloys with other metals, especially platinum, to increase their hardness and durability. It is also used for making spark plugs, crucibles, electrodes, and satellites.
Iridium is scarce and is mostly found in platinum ores and meteorites. It is also very difficult and costly to mine and refine, which adds to its value. The main sources of iridium are South Africa, Russia, and Canada. Iridium costs around $4,250 per ounce, which is about $151 per gram.
Rhodium – $14,000 per ounce
Rhodium is the most expensive metal in the world. It has a silvery-white color and a very high reflectivity. It is also very resistant to corrosion and high temperatures. Rhodium is mainly used for making catalytic converters, which are devices that reduce the harmful emissions from vehicles. It is also used for making jewelry, mirrors, and optical instruments.
Rhodium is scarce and is mostly found in platinum ores. It is also very difficult and costly to mine and refine, which adds to its value. The main sources of rhodium are South Africa, Russia, and Canada. Rhodium costs around $14,000 per ounce, which is about $498 per gram.
