Platinum is an uncommon metal valued in jewelry for its “white gold” shine. Its usefulness extends well beyond adornment, however, into medicine, automobile manufacturing, electronics, and chemical applications. Here are several of the many roles platinum can play.
Medical
Because it resists corrosion from bodily fluids and does not react with bodily functions, platinum is well suited to pacemakers, dental crowns, drugs, magnets, and other materials placed inside the human body.
Automotive
In catalytic converters, platinum helps change unburned hydrocarbons into water vapor and carbon dioxide. It also serves as an electrode material that can lengthen spark-plug life. Automakers are consequently among platinum’s largest users.
Jewelry
Platinum is more precious than gold or silver and has replaced gold as a choice for contemporary jewelry. Its silvery appearance and durability work well for securing gemstone settings. Its exceptional density helps it resist corrosion and tarnish, while its resistance to oxidation and discoloration surpasses silver’s. Platinum’s vivid tones also complement and reflect the brilliance of precious stones.
Coins
In 1986, the American Eagle Bullion program began by producing and selling gold and silver eagles in proof and bullion finishes. Platinum joined the American Eagle bullion family in 1997 with American platinum eagles. The one-ounce platinum eagle carries a face value of $100, the highest denomination ever shown on a U.S. coin. At the time of publication, buying and selling platinum eagles, together with other platinum coins, had been popular precious-metals investments for bullion and coin collectors since platinum eagles were introduced.
Electronics
Platinum conducts electricity very well, and its malleability allows it to be formed and drawn into wires for electrical contacts and high-voltage settings. For years it has been used in thermocouple devices that measure temperatures with great accuracy. Its silicide compounds also appear in temperature-sensing and film-optical systems in various products.
Glass
Platinum dies are widely used to make glass because their hardness and high melting point suit processes involving extreme heat. It is particularly useful in fiberglass production. The original article reported that the recent introduction of glass-fiber communications technology had raised demand for platinum further.
Platinum provides numerous less-obvious benefits for coin collectors and far beyond them.
