Precious metals like gold, silver, platinum, rhodium, and palladium are turning out to be invaluable allies in our journey toward clean energy. From efficient electricity transmission to emission reduction and hydrogen purification, these metals are at the forefront of innovative technologies, shaping the landscape of renewable energy and as we work toward a more sustainable future.

Gold: The High-Tech Conductor

While known for its aesthetics and monetary value, is perhaps lesser known that gold has a pivotal role in the realm of clean energy, specifically in the electronics of renewable energy systems. Its impressive conductivity makes it ideal for efficient energy transmission, particularly in photovoltaic solar cells. The thin gold film in these cells facilitates the efficient conversion of sunlight into electricity, an innovation that’s helping to power our increasingly green world. As our dependency on renewable energy sources grows, gold’s importance in these systems is poised to rise. Researchers are also exploring its potential in other cutting-edge areas, like quantum computing, which could revolutionize the way we process and store renewable energy data.

Silver: The Solar Energy Stalwart

Silver currently has the largest presence and use cases in the solar industry, thanks to its superior electrical and thermal conductivity. It forms the backbone of photovoltaic solar cells, where it is used in the form of a paste that forms the cell’s conductive layers. This silver paste plays a key role in the cell’s ability to capture sunlight and convert it into electricity. Currently, around 10% of the global silver supply is dedicated to the solar industry. The race is now on to find ways to use silver more efficiently or enhance its performance, promising a shining future for this precious metal in clean energy.

Platinum: The Fuel Cell Catalyst

The power of platinum in the clean energy industry lies in its role as a catalyst in fuel cells, especially those powering hydrogen cars. Fuel cells work by facilitating a chemical reaction between hydrogen and oxygen, and platinum’s unique properties help speed up this reaction to produce electricity, heat, and water – the only byproduct. While the high cost of platinum presents a challenge, ongoing research is aimed at minimizing the amount needed in these cells. Future applications may extend to large-scale energy systems, like stationary power plants, further expanding platinum’s footprint in clean energy.

Rhodium: The Emission Combatant

Though it’s one of the rarest metals on earth, rhodium has a significant impact on clean energy. Its main role is in automotive catalytic converters, where it helps to reduce harmful emissions by converting them into less harmful substances. As emissions regulations become stricter and hybrid vehicles more common, the demand for rhodium is expected to surge.

In the future, scientists could harness rhodium’s catalytic properties for other applications, such as converting CO2 back into fuel, providing an interesting bridge between fossil fuels and a clean energy future.

Palladium: The Hydrogen Purifier

Palladium may be best known for its role in jewelry, but it’s also making waves in clean energy, primarily through hydrogen purification. This precious metal has the unique ability to absorb a large volume of hydrogen, which can then be easily released, making it an excellent choice for extracting pure hydrogen for use in fuel cells. As the world increasingly turns to hydrogen as a clean energy source, the role of palladium is expected to grow. Additionally, its potential in advanced battery technology could further cement its place in our clean energy future.

What the Future of Clean Energy & Precious Metals Has in Store

As we continue to advance into the clean energy revolution, it’s clear that our path toward sustainability is shining with precious metals. Gold, silver, platinum, rhodium, and palladium have assumed new significance in their unique roles within the clean energy industry. Their contributions range from efficient energy transmission to reducing harmful emissions and advancing hydrogen-based technologies. The future of these metals is not only glistening but also green, promising to play an increasingly central role in our journey towards a sustainable and clean energy-driven world.

While challenges in cost and efficiency persist, the innovative applications of these precious resources underscore their invaluable contribution to a green, sustainable future.

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Being in high global demand, platinum makes for a valuable asset to invest in or sell. Its rarity combined with practical uses contributes to its prestigious status. Investing in platinum and other precious metals can be an excellent hedge against inflation and a way to diversify an investment portfolio.

You may be interested in learning how to find and recycle any spare platinum. Luckily, there’s plenty of it to go around. In this post, we’ll cover some of the best places that can prove useful for finding platinum scrap.

#1: Jewelry Factories & Workshops

Jewelry factories and workshops are rich grounds for platinum scrap. As platinum is malleable and durable, it’s a preferred metal for high-quality jewelry. In the process of creating or repairing jewelry, scraps are left behind in various forms such as floor dust, bench sweepings, and squiggles. These seemingly insignificant leftovers can accumulate to a valuable quantity.

We advise our clients not to discard any dust or powder in their workshops, as it may be more valuable than you think. Finding platinum in broken jewelry is easier yet. Silver-looking jewelry marked with a “pt” indicates with certainty that it’s made from platinum.

#2: Lab Equipment

In scientific laboratories, platinum’s unparalleled properties make it an ideal material for equipment like crucibles, tweezers, forceps, and triangular metal stands. Its heat resistance and inert nature allow it to remain stable even in aggressive chemical environments.

Though over time, platinum lab equipment may lose its original shine, become discolored, or even deformed, it’s essential to remember that the platinum content remains unchanged. Even in these states, it can be refined and recycled, retaining its inherent value. Old lab tools and instruments are not merely junk but potentially valuable platinum resources.

#3: Thermocouple Wires

Thermocouples, although not widely known, are vital components in various industrial applications. These thin wires, often made of platinum, are used to monitor or remotely measure temperatures in manufacturing processes, including everything from stoves to air conditioning systems.

The use of platinum in thermocouples is due to its high melting point and stability at extreme temperatures. If you come across wires marked with “pt,” it’s likely they contain platinum. Knowing where these thermocouples are used and how to identify them could lead you to a steady source of platinum scrap.

#4: Catalytic Converters

Catalytic converters are intriguing for scrap collectors due to their platinum content, combined with rhodium and palladium. These devices reduce harmful emissions in automobiles, and their theft has become a common crime.

For those involved in auto repairs or having access to junk cars, catalytic converters can be a legitimate source of income. With values up to $200 each, this can turn into a lucrative side business. However, the emphasis must always be on legally acquiring these converters, as the unlawful possession of such devices carries severe legal penalties.

#5: Dental Laboratories and Clinics

Dental laboratories and clinics are surprisingly rich sources of palladium scrap. Palladium is often used in dental crowns, bridges, and other prosthetics due to its biocompatibility and resistance to corrosion. If you can establish a connection with dental professionals who are willing to part with old dental appliances or tools, you may discover a consistent supply of platinum.

Retired dentists or dental clinics going through renovations might also dispose of old equipment containing platinum. Collaboration with these sources, in line with proper legal channels, can lead to a mutually beneficial arrangement, converting unwanted dental materials into valuable platinum scrap.

#6: Aerospace and Aviation Industries

The aerospace and aviation industries are another unexpected but promising source of platinum. Due to its heat resistance and strength, platinum is used in aircraft engine components and other critical aerospace applications. Maintenance and refurbishment of aircraft may lead to the replacement of these platinum-containing parts.

#7: Industrial Processing Plants

Industrial processing plants, especially those involved in chemical, petroleum, or food processing, may use platinum in various applications like catalysts, coatings, and specialized machinery. These plants undergo regular maintenance, upgrades, and replacements, leading to potential platinum scrap.

Engaging with industrial processing facilities may uncover opportunities to collect or purchase platinum-containing equipment, machinery, or consumables. Familiarity with the particular industry’s processes and regulations is crucial for accessing these materials, but the potential for platinum recovery is substantial.

Reeling In the Platinum

Although it is a precious metal, it is not impossible to find platinum if you know where to look. Take note of the resources you have access to and see if you can find a good source of platinum.

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The uses of platinum are as varied as the countries within which it’s found. They range from detoxifying automobile emissions in catalytic converters, to serving as an element in cancer treatment drugs.

A Brief History & Background on Platinum

When compared to the history of gold or silver, platinum’s written history is indeed very brief. The metal is said to have first been discovered by South American native peoples, who used a combination of gold and platinum alloy to craft various symbolic artifacts and pieces of jewelry. This was first made apparent by Spanish conquistadors during the conquest of South America, who regarded it as an impurity within the gold and silver they found.

Platinum was later written about in 1557 by Julius Caesar Scaliger. Scaliger was an Italian humanist and poet who described it as a metal that could not be melted by any technique known at the time. The platinum he was referring to had purportedly been found in a mine between Panama and Mexico.

Today, platinum can be found in small quantities across dozens of countries, but only five account for roughly 97% of the world’s supply. It’s rare to find platinum above ground, with most deposits residing deep in the earth’s crust.

The ore is almost always found to include other metals, and platinum itself is a part of the Platinum Group Elements (PGEs): rhodium, ruthenium, palladium, osmium, and iridium. While less common, platinum and the other PGEs can be found in ore containing other precious metals and gems, including silver, gold, and diamond.

Below, we’ll summarize the primary sources where platinum is mined, in addition to some of the more obscure locations where it has been (or could be) found.

South Africa

South Africa is currently the number one source of platinum on the planet, accounting for over 70% of the world’s supply. Without getting too technical, the highest density of mines can be found within the Bushveld Igneous Complex. This unique vertically layered intrusion of the earth’s crust is comprised of three major zones that yield platinum: The Merensky Reef, the UG2 Reef, and the Platreef.

Russia

Mines in Russia account for roughly 15% of the world’s supply of platinum. The Ural Mountains and the Taimyr Peninsula in Siberia are the largest sources of the precious metal. More specific data on reserves and the number of mines in these regions is uncertain as the country regards it as classified information.

 Zimbabwe

Zimbabwe is also known to have substantial platinum reserves. At present, three significant mining operations located near the center of the country focus on extracting platinum from a geological feature known as the Great Dyke.

Canada

Canada is the fourth largest source of platinum in the world, with most deposits being in Ontario and Quebec. Despite the relative abundance of the metal in these provinces, platinum is primarily a byproduct of nickel mining operations.

United States

Within the US, at least four states contain platinum mining operations. Many mines can be found within Montana, while smaller operations and reserves are located in Alaska, Arizona and Minnesota.

Other Sources of Platinum

In addition to the countries mentioned above, platinum has been found in the Choco Department of Colombia, within copper mines in central Peru, New South Wales in Australia, and even on an ancient volcanic island off the western coast of Scotland called Rum.

Further afield, in outer space, platinum is suspected by scientists to exist in large quantities on asteroids, meteoroids, and even on the moon.

Have Platinum You’d Like to Sell?

Unfortunately, we’re still a long way away from setting up mining operations in space, and most of us might not have access to a platinum mine in a faraway country. However, it’s not uncommon to have platinum scrap laying around given its wide range of uses across many industries.

If you have platinum you’d like to turn into cash, find out how to sell us your lot today and get paid a fair price based on the current London market price fixings.

The post Where is Platinum Mined Around the World? appeared first on Manhattan Gold & Silver.

Platinum Supply and Demand in Industry

Platinum has certain physical and chemical characteristics that make it so uniquely useful for manufacturing and industrial purposes. In fact, manufacturing and industrial demand for platinum has increased by an average of 3% to 7% each year for the past couple of decades.

Some of the characteristics that make platinum so beneficial for manufacturing and industrial purposes include:

• Exceptionally high heat tolerance/melting point
• Strong, dense, and durable
• Ductile (can stretch before it breaks)
• Catalytic effects for chemical reactions that are valuable to various processes
• Highly corrosion-resistant
• Holds up in very acidic environments
• Inert, preventing chemical reactions with other substances
• High electrical conductivity
• Well tolerated by the human body and radiopaque (X-rays don’t pass through it), relevant because platinum is used in the production of certain internal medical devices
• Hypoallergenic

At the same time, there isn’t an enormous quantity of platinum to go around. In fact, it’s one of the rarest metals on Earth, and it’s only found in a handful of countries. The global platinum supply comes from mines in South Africa, Russia, Zimbabwe, the US (Montana, specifically), and Canada.

Manufacturing and Industrial Uses for Platinum

Here are some of the manufacturing and industrial uses for platinum that drive its demand. Platinum is used in the production of:

• Jewelry
• Industrial-grade thermocouple wire
• Industrial-strength detergents
• Plastics and polyester
• Propylene from propane
• Petroleum from crude oil
• Specialty silicones
• Catalytic converters for vehicles
• Hydrogen fuel cells and the electric vehicles they power
• Medicines for cancers, blood disorders, and other conditions
• Laser-generating crystals
• Explosives
• Electronic devices that contain circuit boards (computers, tablets, smartphones, servers, televisions, radios, appliances, robotics, and so on)
• Sensors (in items like airbags deployments systems, carbon monoxide detectors, breathalyzers, resistance thermometers, and more)
• Medical, geological, and other laboratory equipment
• Medical devices—especially implantable ones—such as those that measure or regulate cardiac, blood, nerve, and other activity in the body
• Fertilizers for industrial farming

Turn Your Platinum Scrap into Capital

If you have platinum scrap or items, Manhattan Gold & Silver will purchase it from you. We buy from industrial and mining operations, jewelers, pawnbrokers, dental practices, and other business enterprises with platinum to sell. Please note that we do not buy from individuals.

We quickly assay your lot, accurately identifying and weighing the platinum content. Then, we make immediate payment based on the current London market fixing for platinum prices.

Get an idea of what your lot is worth with our easy-to-use online payout estimator tool.

You can either visit our Midtown Manhattan location for assaying on the spot and same-day payment, or ship your platinum to us. Our address is 45 W 47th Street, New York, NY 10036. If you have any questions, please don’t hesitate to contact us.

The post A Quick Look at Manufacturing and Industrial Uses for Platinum appeared first on Manhattan Gold & Silver.

What Are Hydrogen Fuel Cells?

A hydrogen-powered vehicle is still an electric-powered vehicle. But hydrogen fuel cells are an eco-friendly, emissions-free way of producing electricity.

Fuel cells produce electricity, and they’re similar to batteries in many ways (e.g., they have no moving parts, they make no sound, they generate electricity via an electrochemical reaction rather than combustion, etc.). There are different types of fuel cells, but the most common and most extensively researched type is the proton exchange membrane (PEM) fuel cell—otherwise known as a hydrogen fuel cell.

Without getting too technical, these fuel cells convert hydrogen and oxygen into electricity. The only byproduct of this process is heat and water. There are no greenhouse gases given off or any other emissions created that damage the environment or human health.

Why Is There Platinum in Hydrogen Fuel Cells?

Platinum has certain characteristics that make it well suited to a variety of industrial and power-related uses. These same characteristics are why there’s platinum in hydrogen fuel cells. Platinum electrodes are used to catalyze the reaction between hydrogen and oxygen that generates electricity.

Platinum has exceptionally high heat tolerance and stable electrical conductivity, and it’s extremely resistant to oxidation and corrosion. There are other metals with similar qualities, but platinum can also stand up to the highly acidic environment within a fuel cell.

Platinum for Powering the Future

As research and development on hydrogen-powered vehicles ramps up, we can reasonably expect the demand for platinum to increase in the coming years.

At the moment, there are only two cars powered by hydrogen fuel cells available in the U.S.—and only in California and Hawaii, at that. They’re the Toyota Mirai and the Honda Clarity. Recently, news broke that a company called Forze Hydrogen Racing will enter hydrogen-powered racecars into the world-famous 24 Hours of Le Mans endurance race in 2024. This will undoubtedly bring a lot of new attention to this type of alternative vehicle.

As interest in issues of sustainability increases, and as hydrogen-powered vehicles are further developed and become more widely available, the fact that we need platinum in hydrogen fuel cells should drive up demand, as well as platinum prices.

In terms of precious metal refining, this will most likely create a new source of platinum for recycling, and higher prices paid out for platinum scrap and items. For now, go here if you have platinum you’d like to sell.

The post Platinum in Hydrogen Fuel Cells: How This Metal Makes Hydrogen-Powered Vehicles Possible appeared first on Manhattan Gold & Silver.

There’s no better way to sell platinum in Midtown NY if you’d like to immediately turn your scrap into capital with same-day payments. Please feel free to contact us with any questions about selling your platinum scrap.

Examples of Platinum Scrap and Items We Buy

You may have valuable platinum in many forms. Whichever you’re trying to sell, there’s a good chance we’ll buy it from you. Some typical forms of platinum we purchase include:

• Platinum jewelry (we can also remove any gemstones for you)
• Polishing material & filing dust
• Platinum medical products
• Platinum wire, such as industrial thermocouple wire
• Platinum sputtering targets
• Platinum fuel cells
• Platinum-rhodium alloy
• Platinum bullion, such as American Platinum Eagles, Canadian Platinum Maple Leaves, and Australian Platinum Koalas

Who Do We Buy Platinum From?

We only purchase platinum from businesses. If you’re an industrial or mining organization, jeweler, pawnbroker, dental practice, or other enterprise in possession of platinum scrap or items, we’re happy to purchase and refine your lot.

Please note that Manhattan Gold & Silver does not purchase platinum from individuals.

Where to Sell Platinum in Midtown NY

If you want to drop off and sell platinum in Midtown NY in person, we’ll weigh, assay, and melt your lot right in front of you. We make same-day payments according to the current London market fixing for platinum prices.

Come in to the Manhattan Gold & Silver location at 45 W 47th Street, New York, NY 10036. You may also ship your lot to us if that’s more convenient. Whether you’re stopping by or sending your platinum to us, you can get an idea of what we’ll pay for your lot using our payout estimator tool.

If you have any questions, or would like to make arrangements to sell your platinum scrap or items, get in touch with us today by phone or using our online contact form.

The post Sell Platinum in Midtown NY with Manhattan Gold & Silver appeared first on Manhattan Gold & Silver.

We’ve compiled facts about the PGM family below so you can get to know their various uses and properties.

The post What Are Platinum Group Metals (PGMs)? appeared first on Manhattan Gold & Silver.

Why Are Some Metals Called Precious Metals?

Some metals are called precious metals due to their value as currency or because they’re rare. While many metals can be exchanged for money because of their use in industrial applications (copper, aluminum, iron etc.) only precious metals are used for financial investment purposes, which makes them different from metals not recognized as precious.

Here are precious metals you can expect to find and their respective characteristics.

Gold

Of all the precious metals, gold is the most well-known. Likely its most noteworthy characteristic has been its importance in economies throughout human history. Gold has an inherent value and can be exchanged for modern fiat currencies like the U.S. dollar.

Gold is not the rarest precious metal, but it still isn’t as common as other metals found in nature. All in all, its rarity and use as currency put gold in the category of precious metals.

Silver

Silver is the most well-known metal next to gold. Silver has more industrial uses than gold, so it is valuable as both an investment asset and for its industrial properties. It also has a level of rarity just like the other precious metals.

Platinum

Platinum is probably the most precious of all of the precious metals. Why? It is 15 times rarer than gold and more ductile than silver, gold or copper. It also has excellent corrosion resistance, which makes it important in applications like lab equipment and catalytic converters. Platinum is also a useful investment asset and is found in many forms of bullion.

Palladium

Palladium is related to platinum because they both belong to the elemental category known as Platinum Group Metals (PGM). When compared to its counterparts, palladium is a relatively new investable precious metal. The first palladium coin was issued in 1966 by Sierra Leone, and the U.S. only started striking palladium American eagles in 2017.

Palladium is not only a great financial asset, it is also useful for certain industrial applications.  It has some of the same industrial uses as platinum, especially in the creation of catalytic converters. More than half of the palladium available is used like this.

Rhodium

An incredibly rare, silvery-white, hard metal, rhodium is extremely resistant to corrosion under natural environmental conditions, like other platinum group metals. It can be a tricky metal to invest in due to its high cost and price fluctuations, but it can be great for those looking to diversify their portfolio.

Osmium

Osmium is also a precious platinum group metal. It’s one of the rarest metals and has multiple uses, which gives it high economic value. It is available in such low concentrations that it is more commonly produced as a by-product of nickel refining.

Osmium is typically found as a component in platinum alloys and is used in creating needles, instrument pivots, fountain pen tips, and electrical contacts.

Iridium

Iridium is hard and brittle with a silver look. It has an extremely high melting point, and is one of the rarest elements on Earth, making it incredibly valuable.

Like other precious metals, iridium does not oxidize in normal environmental conditions. It is among some of the most corrosion-resistant metals. Apart from its industrial uses, it is a prized collectible asset because of its high value and rarity.

Sell Your Precious Metal Scrap

Many industries and professions including manufacturing and dentistry produce large amounts of precious metal scrap. If you are interested in selling yours, consider exchanging your scrap with precious metals refiner like Manhattan Gold & Silver to put revenue back into your business.

The post What Are Precious Metals? appeared first on Manhattan Gold & Silver.

Identifying Platinum Through Visual Cues and Weight

Even before any precious metal testing, there are a couple of ways to tell if a metal is platinum. The first way is to use visual cues. Pure platinum jewelry, or jewelry that is at least 50% platinum, is typically marked with a stamp (also known as a hallmark). Usually, this mark will include a number like 850 followed by “plat or “pt”, which indicates the piece is 85% pure. If the piece you’ve acquired is marked with the word “platinum”, it is most likely 90-95% pure. A couple other things to keep in mind when identifying platinum is that it may not be marked if it comes from a country that does not require it to be stamped or if it is incredibly old. Also, any metals that are less than 50% platinum are not stamped.

A few other visual indicators exist that can help you determine if a metal is platinum. The first is seeing whether it has a bright, white appearance. When compared to precious metals like white gold, silver, or palladium, platinum has a whiter and brighter color. It’s also important to check and see if your piece has any scratches. Platinum is very scratch-resistant, and you should see little to no scratches on it. The final tip is to check and see if your piece is tarnished. If it is, you are carrying silver, not platinum.

Feeling the weight of your piece is another way to determine if it is platinum. As platinum is more dense than other precious metals, it feels heavier in your hand than white gold, silver, or palladium.

Another interesting way to test if a metal is platinum is using a magnet.

Using A Magnet

As platinum is not magnetic, if your piece is attracted to a magnet, you can safely say it is not platinum. If you notice a slight magnetic pull, then it is more likely your metal is white gold combined with nickel.

Lastly, a scratch test can also be useful in your search to uncover the identity of your metal.

Conduct A Scratch Test

If you’ve exhausted all other methods and are still uncertain of whether you have platinum, you can conduct a scratch test from home by buying an acid scratch test kit. If you don’t want to do it yourself, a jewelry store or precious metal refiner can do it for you.

How a scratch test works is your piece is scratched against a scratch stone, leaving behind a small sample of its contents on it. A dropper is then used to dispense one or two droplets of acid onto the sample. In platinum’s case, if the sample extracted from your piece dissolves, then it is not platinum.

Make sure to wear latex or vinyl gloves to protect your skin from the acid if you decide to perform this test on your own.

In Summary

If you are ever uncertain about what kind of metal you’ve bought or found, it never hurts to test. With so many ways to test precious metals available, there is no excuse to not be 100% sure of the value of your pieces.

The post How To Test For Platinum appeared first on Manhattan Gold & Silver.

You may be interested in learning how to find and recycle any spare platinum. Luckily, there’s plenty of it to go around. In this post, we’ll describe 4 places that can prove useful for finding platinum scrap.

#1: Jewelry Factories & Workshops

Jewelry factories that repair or produce platinum jewelry can be a great source of platinum scrap. Often, it can be found in floor dust, bench sweepings, and “squiggles” that are made when platinum is produced on machinery. We advise our clients not to discard any dust or powder in their workshops, as it may be more valuable than you think. Finding platinum in broken jewelry is easier yet. Silver-looking jewelry marked with a “pt” indicates with certainty that it’s made from platinum.

#2: Lab Equipment

Lab equipment like crucibles, tweezers, forceps, and triangular metal stands are frequently made with platinum. This is because the precious metal is heat-resistant and inert, making it so the lab equipment is heat-resistant and does not react with any chemical substances. Although old equipment may be discolored, it still contains platinum.

#3: Thermocouple Wires

While you may not have heard of thermocouples, they are also a good source of platinum. Thermocouples are thin wires used to monitor or remotely measure temperatures. Many manufacturing processes and equipment like stoves and air conditioning use these wires. Some thermocouples may even indicate they are made of platinum with a “pt” marking.

#4: Catalytic Converters

It is no secret that catalytic converter thefts are on the rise, and there is good reason for it. Catalytic converters are made with a mixture of rhodium, platinum, and palladium, all valuable precious metals. This can be a good option for those who repair cars or have access to junk cars. Catalytic converters can be worth up to $200, making it a possible side business for those who work with vehicles regularly. Just make sure you attain these converters using legal means.

Reeling In The Platinum

Although it is a precious metal, it is not impossible to find platinum if you know where to look. Take note of the resources you have access to and see if you can find a good source of platinum.

The post 4 Places To Find Platinum Scrap appeared first on Manhattan Gold & Silver.