The beauty of the natural world lies not only in its breathtaking landscapes but also in the hidden treasures it holds beneath the surface. Mother nature has gifted us with a wide array of precious metals that have captivated humanity for centuries. Among these treasures, some metals stand out for their rarity, durability, and exceptional properties. These metals possess unique qualities and characteristics that make them highly valuable and sought-after.

What Can Make a Metal Precious?

Precious metals possess a set of distinctive characteristics that set them apart from common metals. These characteristics include rarity, high economic value, resistance to corrosion, and desirable physical properties such as lustre and malleability.

Precious metals often find applications in various industries, including jewellery, electronics, automotive, aerospace, and medicine. Their scarcity and high demand contribute to their value, making them desirable commodities for investors and collectors alike.

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What are the Top 10 Most Expensive Metals in the World?

In this article, we will explore the top 10 most valuable metals in the world in 2023. From their specific features to their diverse applications, each of these metals holds a significant place in various industries and investment portfolios.

Iridium

Iridium (Ir) is denoted by the symbol Ir and holds the position of atomic number 77. In 1803, while studying platinum, British scientist Smithson Tennant analysed the insoluble residue and identified it as a new metal. In recent times, iridium has been primarily mined in South Africa, Russia, and Canada. 

Iridium, priced at approximately 147.89 USD (16042.40 BDT at 1 USD = 108.48 BDT) per gram, can burn a hole in your pocket. It is a dense, corrosion-resistant metal celebrated for its remarkably high melting point. It finds versatile applications in industries such as spark plugs, electrical contacts, fountain pen nibs, and the coating of optical lenses.

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Rhodium

In 1803, William Hyde Wollaston discovered rhodium right after the palladium discovery. Wollaston used crude platinum ore from South America. Through several experiments, rhodium was eventually identified as a free metal. It is a chemical element represented by the symbol Rh and has atomic number 45.

Rhodium is a silver-white metal with remarkable resistance to corrosion and high reflectance. The cost of one gram of rhodium is 131.82 USD (14299.20 BDT with a conversion rate of 108.48 BDT against 1 USD). It finds extensive use in catalytic converters for automobiles as well as in the production of optical instruments and electrical contacts. South Africa, Russia, and Canada are the primary mining sources for this extraordinary metal.

Gold

Gold, with the symbol Au, is derived from the Latin word 'aurum'. Having the atomic number 79, gold is known as a significant element in the periodic table. It can be found in its native state, and appears to be the earliest metal used by humans. It is renowned for its beautiful yellow colour, high malleability, and resistance to tarnishing. Natural gold traces have been discovered in Spanish caves utilised during the late Palaeolithic period, around 40,000 BC.

This precious metal is highly valued in the jewellery industry, acts as a reliable investment asset, and finds versatile applications across various industrial sectors, including electronics and dentistry. At the current exchange rate of 108.48 BDT per 1 USD, the price of gold is 6878.41 BDT per gram, which is approximately 63.41 USD. It can be found in regions worldwide, including South Africa, Russia, Australia, the United States, and China.

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Scandium

Scandium is a chemical element represented by the symbol Sc and has atomic number 21. It is a sought-after silvery-white metal valued for its lightweight nature, high melting point, and exceptional heat resistance. It finds versatile applications in industries such as aerospace, sports equipment, and the production of high-intensity lamps.  

In 1879, Lars Fredrik Nilson and his team discovered this element in the minerals euxenite and gadolinite. Presently, Scandium is primarily extracted from rare minerals located in China, Russia, and Ukraine. The price of a gram of scandium can be around 44 USD, which is equal to 4772.91 BDT while 1 USD means 108.48 BDT.

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Palladium

Palladium is a lustrous, silvery-white metal celebrated for its exceptional catalytic properties and resistance to corrosion. Having the atomic number 46 this noble metal is symbolised by Pd. It was discovered and named by William Hyde Wollaston in 1802. He found palladium in crude platinum ore from South America.

This valuable metal plays a significant role in various industries, including catalytic converters, electronics, dentistry, and jewellery. One gram of palladium is priced at 44 USD. With 1 USD equivalent to 108.48 BDT, the price in Bangladesh is 4664.43 BDT. It is primarily sourced from Russia, South Africa, and Canada.

Rhenium

Rhenium is a dense, silvery-white metal known for its exceptional resistance to heat and wear, as well as possessing the third-highest melting point among elements. It has atomic number 75 and is represented by Re. Currently, at the conversion rate of 108.48 BDT per 1 USD, the price of Rhenium is nearly 4501.72 BDT per gram, which translates to 41.50 USD.

Rhenium plays a vital role in various industries, including the production of high-temperature superalloys, catalysts, and electrical contacts. Rhenium is believed to have been discovered by Walter Noddack, Ida Noddack, and Otto Berg in Germany. They detected the element in platinum ore and columbite minerals in 1925. At present, it is found in limited quantities across regions worldwide, including the United States, Chile, and Kazakhstan.

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Platinum

Platinum, with the chemical symbol Pt and atomic number 78, claims its position as a vital element in the periodic table. It is a dense, malleable metal characterised by its captivating silver-white colour. In 1735, Antonio de Ulloa discovered platinum in Colombia and Peru while travelling with Jorge Juan Y Santacilia. They encountered native Americans engaged in platinum mining and got curious about the whitish metal nuggets. Later, they brought it back to Spain.

It holds immense value in the realms of jewellery, catalytic converters, electrical contacts, and the production of laboratory equipment. Now, the primary mining sources for platinum include South Africa, Russia, and Zimbabwe. It is priced at 31.43 USD per gram which is 3409.38 BDT in Bangladesh at the conversion rate of 108.48 BDT against 1 USD. 

Ruthenium

Ruthenium, with the symbol Ru and atomic number 44 is a hard, silvery-white metal. It is primarily valued for its resistance to corrosion and oxidation. Ruthenium finds versatile applications in electrical contacts, catalytic converters, and the production of thick-film resistors. Ruthenium is commonly present as a minor component in platinum ores.

This metal was discovered by Karl Ernst Claus in 1844 at Kazan State University, and in honour of Russia, he named it Ruthenium. Ruthenium is primarily found in Russia, Zimbabwe, and Canada. In today’s world, it is priced at 14.95 USD per gram, which is 1621.70 BDT in Bangladesh at a conversion rate of 108.48 BDT per 1 USD.

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Osmium

Osmium is another expensive metal with the symbol Os and atomic number 76. This is a bluish-white metal valued for its density, hardness, and remarkable resistance to corrosion. It was found way back in 1803 by Smithson Tennant and William Hyde Wollaston, right in the heart of London, England. The discovery of osmium is closely linked to that of platinum and the other metals in the platinum group.

Osmium plays a vital role in industries such as high-quality fountain pen tips, electrical contacts, and alloy production. Osmium is primarily mined in Russia, South Africa, and Canada. A single gram of osmium may make you pay almost 13 USD, which is equivalent to 1410.18 BDT. 

Silver 

Silver is a lustrous white metal renowned for its excellent thermal and electrical conductivity. This special element is symbolised by Ag and has the atomic number 47. Its name comes from the Latin word "argentum," which means "silver," signifying "shiny, white." Silver is commonly found in combination with copper and lead. It finds versatile applications in jewellery, electronics, photography, and various industrial sectors.

Silver was first found around the 4th millennium BC in Asia Minor and on the islands of the Aegean Sea. In the present world, silver can be found in regions worldwide, including Mexico, Peru, China, and Australia. One gram of silver costs 0.80 USD while in taka it converts to 86.78 BDT. 

At a Glance: Top 10 Most Valuable Metals in 2023

Table: World's top 10 most expensive metals

Note: In this list, 1 USD = 108.48 BDT. The conversion rate and metal prices reflect the updated rates as of July 22, 2023. Market prices of both USD and metals are subject to daily fluctuations.

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Conclusion

In the vast realm of metals, some stand out for their extraordinary characteristics and immense value. The top 10 most valuable metals in the world in 2023 include Iridium, Rhodium, Gold, Palladium, Rhenium, Scandium, Osmium, Ruthenium, Silver, and Platinum.

Each of these metals possesses unique features, applications, and scarcity, contributing to their desirability in various industries and investment markets. Exploring the world of precious metals allows us to appreciate the wonders that lie within our planet's depths.