Precious Metal Buyers – Selling Platinum, Palladium & Rhodium

Precious Metal Buyers – Selling Platinum, Palladium & Rhodium

Precious metals are rare, naturally occurring metallic elements that have high economic value due to their rarity, beauty, and various industrial applications. The most commonly recognized precious metals include gold, silver, and platinum. These metals have been valued throughout history for their use in currency, jewelry, art, and as a store of value.

Precious metals are created through various natural processes, primarily involving the formation and evolution of stars, as well as through supernova explosions. Pretty cool way to come into existence if you ask us.

prices of precious metals

Here are a few of the most popular precious metals, their value, and if you can cash in by selling to us.

Gold (Au)

The big one, and what brings most people to our website. It is valued for its beauty, rarity, and malleability. Gold is used most commonly for jewelry, but some people also use it as a form of currency or store of value to this day. Ever since the US went off the gold standard, there is no direct relation between the price of gold and US currency, and it is traded on the open market.

We’re not going to spend much time talking about gold here because so much of the rest of our website focuses on it, but technically it is a precious metal and the most common one to buy and sell. But you can view more blogs about gold value here.

Silver (Ag)

Silver is the second most popular precious metal. It is valued for its luster and conductivity, and of course is popularly used in jewelry. It’s also frequently used in coins and has numerous industrial applications, including electronics and photography.

We won’t talk a lot about silver either, but we’re happy to buy it! If you’d like to learn more about silver, you can view more blogs about silver value here.

Platinum (Pt)

Platinum is a dense, corrosion-resistant metal that is often used in jewelry, particularly for engagement rings and other high-end pieces. It is also vital in catalytic converters for automobiles and in various industrial processes. For those reasons, it can be quite valuable and can be sold for quite a bit if you send it in to a company like Cash for Gold Mailer.

If you’re into science facts, platinum is relatively rare in the universe and is primarily formed in the aftermath of supernova explosions. During a supernova, the extreme conditions of temperature and pressure allow for the synthesis of heavy elements like platinum through rapid neutron capture processes (the “r-process”). These heavy elements are then dispersed into space, where they can become incorporated into new stars and planetary systems.

If you’re more interested in how much you can get for it, let’s take a look at Platinum prices!

5-year platinum price chart

Platinum Prices

As of publishing this blog in February 2024, the current price of Platinum is $886.30/oz. That’s up 4.8% from 5 years ago, but it peaked at nearly $1300 in early 2021. Compared to most other investments, that 4.8% return isn’t very good, and generally speaking it’s probably best to sell your platinum and make better use of the cash.

Items Made of Platinum

The platinum we purchase is most commonly in the form of jewelry – largely platinum rings – but it can come in various other forms as well.

  1. Jewelry: Platinum is highly valued in the jewelry industry due to its lustrous appearance, durability, and hypoallergenic properties. It is often used to make engagement rings, wedding bands, earrings, necklaces, and other high-end jewelry pieces.
  2. Catalytic Converters: Platinum is a crucial component in catalytic converters, which are used in automobiles to convert harmful pollutants in exhaust gases into less harmful emissions. Platinum acts as a catalyst in the chemical reactions that occur within the converter, helping to reduce carbon monoxide, hydrocarbons, and nitrogen oxides.
  3. Electronics: Platinum is used in the manufacture of electronic components such as sensors, electrodes, and contacts due to its excellent conductivity, resistance to corrosion, and stability at high temperatures. It is also used in hard disk drives, dental equipment, and precision laboratory instruments. Most of these come in low quantities that are very hard to extract, so it’s not worth sending us stacks of hard disks.
  4. Medical Devices: Platinum is used in medical devices and implants, including pacemakers, catheters, and stents, due to its biocompatibility and resistance to corrosion. It is also used in certain chemotherapy drugs to treat cancer.
  5. Laboratory Equipment: Platinum is used in laboratory equipment such as crucibles, evaporating dishes, and thermocouple wires due to its high melting point, resistance to corrosion, and inertness.
  6. Coins and Bullion: Platinum coins and bullion bars are produced by various mints and refineries around the world for investment purposes. These items are often used as a store of value and hedge against inflation. Like all bullion, Cash for Gold Mailer offers 95% of the value for any metal bullion.

Platinum isn’t more valuable than gold, but it’s considerably more desirable than silver, so if you do have platinum jewelry or other materials lying around that you no longer want, then selling them can turn into serious cash pretty quickly. We offer risk-free, no-obligation evaluations to value your precious metals (including platinum) and provide an offer to purchase them.

Palladium (Pd)

Palladium is a relatively rare metal that shares similarities with platinum. It is used in catalytic converters, electronics, and jewelry. In recent years, Palladium has gained attention as an investment and has shown considerable significant price volatility. This has made it a target for riskier investors, as compared to gold which tends to attract more conservative investors.

Like platinum, palladium is also primarily formed through nucleosynthesis processes during supernova explosions. It is synthesized through rapid neutron capture reactions that occur in the explosive environment of a supernova. After being ejected into space, palladium, along with other heavy elements, becomes part of interstellar clouds of gas and dust, which can eventually give rise to new stars and planets. Pretty tough to make in your basement, and it needs to be discovered and mined like other precious metals.

Palladium has attracted a lot of investment attention in recent years, which has lead to huge price volatility.

5-year palladium price chart

Palladium Prices

As of publishing this blog in February 2024, the current price of Palladium is $890.50/oz. That’s down 35.6% from 5 years ago, and over 70% from its $3000 peak in the first quarter of 2022. The price has crashed over the course of the past two years. If you made an investment in Palladium, you’re investment is likely down at this point. Whether you bought for an investment or have acquired some palladium throughout the course of your life, $890.50/oz is still a significant haul, nearly the same price as platinum.

Items Made of Palladium

Palladium, like platinum, has several unique properties that make it valuable in various industries. Many of these items just contain trace amounts of the element, while others contain higher concentrations that can add up in value quickly. Here are some items made of Palladium that we buy:

  1. Catalytic Converters: Palladium is widely used in catalytic converters, particularly in gasoline-powered vehicles. It helps to reduce harmful emissions such as carbon monoxide, hydrocarbons, and nitrogen oxides by catalyzing chemical reactions within the converter. If you were wondering why people sometimes steal catalytic converters, now you know.
  2. Electronics: Palladium is used in the electronics industry in various applications, including capacitors, multi-layer ceramic capacitors (MLCCs), and connectors. It is valued for its excellent electrical conductivity, resistance to corrosion, and compatibility with other metals.
  3. Jewelry: While not as common as gold or platinum in jewelry, palladium is gaining popularity as a metal for wedding bands, rings, and other jewelry pieces. It is valued for its white color, durability, and hypoallergenic properties.
  4. Dentistry: Palladium is used in dental alloys for crowns, bridges, and other dental restorations. Its biocompatibility, corrosion resistance, and strength make it suitable for dental applications.
  5. Hydrogen Storage: Palladium can absorb large volumes of hydrogen gas, making it useful for hydrogen storage in applications such as fuel cells and hydrogen sensors.
  6. Water Treatment: Palladium-coated catalysts are used in water treatment systems to remove contaminants and pollutants from water, including organic compounds and heavy metals.
  7. Medicine: Palladium complexes are used in certain medical applications, including cancer therapy and diagnostic imaging. Palladium-based drugs are being researched for their potential in targeted cancer treatments.
  8. Watchmaking: Palladium is occasionally used in high-end watchmaking for watch cases, dials, and other components. Its strength, durability, and resistance to tarnishing make it an attractive option for luxury timepieces.
  9. Coins and Bullion: Like platinum, palladium is also used in the production of investment-grade coins and bullion bars. These items are sought after by investors as a store of value and hedge against inflation. Cash for Gold Mailer pays 95% of the intrinsic value for all coins and bullion.

While Palladium isn’t worth what it was a couple years ago, it can still get you some significant cash if you have some to sell. We offer risk-free, no-obligation evaluations to value your precious metals (including platinum) and provide an offer to purchase them.

Rhodium (Rh)

Rhodium is a silvery-white metal that is highly reflective and resistant to corrosion. It is often used as a coating for jewelry and is a critical component in catalytic converters.

Rhodium, like other precious metals, is primarily formed through natural processes involving stellar nucleosynthesis, specifically through supernova explosions. When you here about the massive asteroids with trillions of dollars floating around space, these are the kinds of metals that compose a lot of that value.

If you’ve been following Rhodium prices or using it as an investment in recent years, you’ve been in for a while ride. Everyone remembers the “cash for gold” craze of the early 2000s, and if Rhodium were half as popular as gold, we would have seen similar stories thanks to it’s skyrocketing prices in 2019 and 2020. Years since have not been so kind to prices, though.

5-year rhodium price chart

Rhodium Prices

As of publishing this blog in February 2024, the current price of rhodium is $385.74/oz. That’s up 53.6% from 5 years ago, which sounds great. However, it hasn’t been this low since 2019, and is down over 80% from its peak above $2,500/oz in early 2021. Like palladium, the price has crashed over the course of the past three years. That said, $386/oz is still far ahead of the likes of silver, so if you have a significant amount of rhodium collecting dust, we can pay quite a bit for it!

Items Made of Rhodium

While not as commonly used as other precious metals like gold or platinum, rhodium finds application in various industries. Here are some items made of or commonly incorporating rhodium:

  1. Jewelry: Rhodium is frequently used as a plating material for jewelry, especially white gold and silver jewelry. It provides a reflective, shiny finish that enhances the appearance of these pieces and helps prevent tarnishing. Rhodium plating also provides a hypoallergenic barrier between the wearer’s skin and the underlying metal.
  2. Catalytic Converters: Rhodium is a crucial component in catalytic converters, along with other platinum group metals like platinum and palladium. It helps to reduce harmful emissions in vehicle exhaust gases by catalyzing chemical reactions that convert pollutants into less harmful substances.
  3. Electronics: Rhodium is used in electrical contacts and connectors due to its excellent conductivity and resistance to corrosion. It is often employed in high-end audio equipment, connectors for telecommunications, and aerospace applications where reliability and durability are essential.
  4. Medical Devices: Rhodium-coated materials are used in medical devices and implants due to their biocompatibility and resistance to corrosion. For example, rhodium-coated instruments are used in certain surgical procedures, and rhodium-plated stents are used in cardiology to treat narrowed arteries.
  5. Plating for Silverware and Tableware: Rhodium plating is sometimes applied to silverware and tableware items to improve their appearance and durability. Rhodium provides a bright, reflective finish that resists tarnishing and wear, making it suitable for use in fine dining settings.
  6. Aerospace Components: Rhodium is used in aerospace applications for its resistance to high temperatures, corrosion, and wear. It is employed in components such as turbine blades, rocket thrusters, and sensor housings where durability and performance are critical.
  7. Chemical and Petrochemical Catalysts: Rhodium catalysts are used in various chemical and petrochemical processes, including hydrogenation, hydroformylation, and oxidation reactions. These catalysts help facilitate chemical transformations in the production of pharmaceuticals, plastics, and specialty chemicals.

Prices for rhodium have been unusually stable for the past several months, so the amount you can get for selling it is a bit more predictable than it has been in the past. With very few at-home uses, it’s the kind of thing you might as well sell for cash you can use.

Other Precious Metals

The above precious metals are the ones that we buy at Cash for Gold Mailer. However, there are some rarer precious metals out there too with industrial applications that you may have. So for those curious, here are a few more precious metals (or studying for their Earth Science exam):

Iridium (Ir): Iridium is one of the densest and most corrosion-resistant elements. It is used in spark plugs, electrical contacts, and as an alloy with platinum for various applications.

Ruthenium (Ru): Ruthenium is a rare and hard metal. It is used as an alloy with platinum to enhance its properties. Ruthenium also finds applications in electronics.

Osmium (Os): Osmium is one of the densest elements and has applications in certain alloys. It is also used in the production of fountain pen tips.

Selling Your Precious Metals

At Cash for Gold Mailer, it’s not all about gold and silver. We also buy rare metals such as platinum, palladium, and rhodium, all of which are readily available to consumers and commonly found in many consumer and industrial products. It’s always a good idea to understand what your stuff is made of before giving it away or throwing it in the dumpster. If your old components are made of a rare precious metal, they could be worth some serious month.

If you think you have something made of a precious metal, you can contact our team to see what we think! Or, you can mail in your precious metals by requesting a free gold mailer today.


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