Information and links on precious metal

precious metal

Foreign names and trivia on Gold and other precious metal

A precious metal is a rare metallic chemical element of high, durable money value.

Chemically, precious metals are less reactive than most elements, have high luster, and higher melting points than other metals. Historically, precious metals were important as a form of currency, but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum and palladium though are still internationally recognised as forms of currency under ISO 4217.

The best-known precious metals are gold and silver. While both have industrial uses, they are better known for their uses in art, jewelry, and coinage. Other precious metals include the Platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded. Plutonium and uranium could also be considered precious metals.

The demand for precious metals is driven not only by their practical use, but also by their beauty role as investments and a store of value. Often traditionally considered a precious metal for its role in coinage and jewelry.

Precious metals in bulk form are known as bullion, and are traded on commodity markets. Bullion metals may be cast into ingots, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.

Bullion coins
Other than ancient gold coins, gold bullion coins are popular among people who desire a "hedge" against currency inflation for a store of value. South Africa introduced the Krugerrand in 1967 to cater to this market; this was the reason for its convenient and memorable gold content—exactly one troy ounce. It was the first modern, low premium bullion gold coin. Bullion coins are also produced in fractions of an ounce – typically half ounce, quarter ounce, and one - tenth ounce. Gold is internationally recognised as a form of currency under ISO 4217. Other gold bullion coins, many named after features on their design, include the Swiss Vreneli, Gold dinar, Australian Gold Kangaroo Nugget, British Britannia, Canadian Gold Maple Leaf and Chinese Panda.
Many nations mint bullion coins, of which the most famous is probably the gold South African Krugerrand.

One of the largest bullion coins in the world is a 10,000 Australian dollar coin minted in Australia which consists of a full kilogram of 99.9% pure gold; China has produced coins in very limited quantities.

Gold as an investment and silver as an investment are often seen as a hedge against both inflation and economic downturn. Silver bullion coins have become popular with coin collectors due to their relative affordability, and unlike most gold and platinum issues which are valued based upon the markets, silver issues are more often valued as collectables, far higher than their actual bullion value.
Precious metal status

A given metal is precious if it is rare. If mining or refining processes improve, or new supplies are discovered and exploited, the value of such a metal declines.

An interesting case of a precious metal going common is aluminium. Aluminium was, when discovered, extremely difficult to separate from the ore it was part of and, since the whole of the Earth's aluminium was bound up in the form of compounds, the most difficult metal on earth to get, despite the fact it is one of the planet's most common.

For a while, aluminium was more valuable than gold; bars of aluminium were exhibited alongside the French crown jewels at the Exposition Universelle (1855). Napoleon is said to have used aluminum plates for his most honored guests at dinner. However, the price dropped continually and collapsed altogether when an easy extraction method, the Hall-Héroult process, was discovered in 1886.

rarity of various metals may again be in for a shift, however. According to USGS statistics, at current production rates all the gold in the earth's crust will theoretically be processed within several decades. While, silver is in a structural supply deficit, with 300 million troy ounces (9,000,000 kg) more being consumed each year than is mined..
Gold coins are one of the oldest forms of money. The first gold coins in history were coined by the Lydian king Croesus in about 560 BC, not long after the first silver coins were minted by king Pheidon of Argos in about 700 BC. Gold coins have had a long period as a primary form of money, only falling into disuse in the early 20th century. Most of the world stopped making gold coins as currency from 1933.

Counterfeits
There are well made counterfeit gold coins in circulation. A Saint- Gaudens omega counterfeit is infamous for its complexity; and fooled many numismatics experts. It is a high relief business strike, and due to the extensive wear on the die, these coins were not made for many years. For poor counterfeits, a good scale can usually tell if it's counterfeit or not; however, there are many well made counterfeited ancient coins that not only use gold, but the correct amount as well.

Foreign names

Gold

Germany it is known as Gold

In Germany Goldmünze is the name od a coin made from the precious metal.

In Spain, and Italy it is known as Oro

In Finland it is known as Kulta

In france it is called Or

In Poland it is called Zloto

Anagrams

Gold plating = Pig doll gnat

'Gold plate' = 'top Lag led

Platinum is liquid between 1768 and 3825°C

The Federal Reserve Bank of New York is the largest repository of gold bullion in Earth's history. The most famous though is Fort Knox.

In Star Trek Fort Knox is an establishment containing Earth's largest gold depository before the New World Economy took off. It was located in the state of Kentucky of the United States of America. At its peak, it held upwards 50 metric tons of bullion. It became a museum after the New World Economy formed. It was considered virtually impenetrable despite an attempt by Ferengi to break in during the 24th century.

In Star Trek latinum is a precious metal desired by the Ferengi especailly gold-pressed latinum

In the universe of Star Trek, Latinum is a major currency. Latinum's dominance as currency is a result of its popularity with the Ferengi. Latinum is a liquid with the unique property that its molecular structure cannot be replicated or synthesized, providing the condition of shortage necessary for a substance to be used as currency. As it is difficult to properly measure liquid for currency transations, premeasured amounts of latinum are inserted into hollow cores of gold bullion of various sizes, leading to the standard units of gold-pressed latinum: slip, strip, bar, and brick.

The Ferengi valued gold as a precious commodity until the 2370s, after which its use to them consisted of little more than suspending latinum in. Some primitive civilizations still value gold, somewhat.

While trapped in Earth's past, Spock required a "small" block of platinum ("5 or 6 pounds") to properly construct a duodynetic field core.

Platinum is not found on the planet Angel I, a fact that allowed the USS Enterprise-D find the survivors of the freighter Odin, who were hiding on the planet in 2364.

Fort Knox is a United States Army post in Kentucky south of Louisville and north of Elizabethtown, Kentucky. It holds the U.S. Army Armor Center, the U.S. Army Armor School and the U.S. Army Recruiting Command. It is also the site of the U.S. Bullion Depository and the Patton Museum of Cavalry and Armor (established 1949), both located on the army post.

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