Gold and silver are great, which is why they have been adored and hoarded throughout history. They are also very useful metals, vital to the computing and electronic industries, to name just a couple. They look great and they appeal to the magpie in all of us, and thanks to humanity’s obsession with them, their value is tremendous and seemingly unending. There are many more metals out there though, and some of them are just as useful and just as sought-after, offering the same potential for investment.
So what are these metals? Where should you invest if you’re looking to add some variety to your precious metal portfolio?
Investing in Platinum
This one is a no-brainer. Ask a random person if they know anything about this metal and they’ll confirm that it’s valuable bayer viagra. They’ll also probably say that it’s worth more than gold, that it is the most expensive metal on earth. The truth is that the price of platinum and the price of gold has always been very similar and at the time of writing, the price of platinum is less (and has been so for some time) than the price of gold.
Does that mean that this is a great time to invest in platinum? Almost certainly. And when you factor in the many uses of this metal (dentistry, lab equipment, thermometers, electronics) and the fact that it is becoming more and more prized in the jewelry industry, it’s clear to see that platinum has some great years ahead. It’s not as easy to find or to invest in as gold, as many countries charge an extra tax on platinum (similar to the taxes charged on silver) and there is also a premium on many platinum coins and bars, which offsets any savings you are making. In time this may change, but as things stand you need to be very shrewd to find some investment-grade platinum without paying a premium.
Investing in Palladium
Palladium is not as useful as some other metals, but it gains value through the fact that it is rare and essential in some industries and for some industrial processes, including the production of white gold. Palladium is in a group known as the Platinum Group, and has some special properties that these other metals (including platinum) don’t, including the fact that it is less dense and has a lower melting point.
It is only in recent years that this has become a target for investors, as people play on the rarity of the metal and the fact that in just a few years the value of it could sky-rocket.
Copper is a fantastically useful metal and one that has greatly increased in value over the years. You have probably heard that a US cent costs more to produce than its face value. This is true, as a cent used to cost 2.4 cents to produce and now costs around 1.76 cents, most of which is down to its copper content. Copper is also used in electrical equipment, prized for its conductive properties, among other things.
Technically, one of the best ways to invest in copper is to purchase US cent coins. These are comprised of around 95% copper, and for every 100 coins you pickup for a price of $1, you’re getting just under $2 worth of copper. Add to that the fact that copper, like all other investment-grade precious metals, will surely increase in value, and you’re onto a winner. However, nothing’s ever that simple. Obviously, the US government don’t want to lose money minting coins just to have one person buying them and melting them down, which is why they made such an act illegal. You would also need older pennies, which have a slightly higher copper content, and you would need to acquire a lot of them to make it worthwhile.
Still, copper is still a very viable choice for precious metal investing.