A precious metal is a very rare, naturally occurring metallic chemical element with a highly economic value. Chemically, the precious metals tend to be less reactive than most elements. They are usually ductile and have a high luster. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. The precious metals are gold silver and platinum.
Not only gold, silver and platinum are precious metals, but they are also noble metals. Noble metals are metals that are resistant to corrosion and oxidation when coming in contact with air or water. Due to their rarity, value and durability it makes them suitable for jewelry. Noble and precious metals are also used in the industrial and electronic world, silver is used in batteries, nuclear reactors, LED chips and many more, while platinum is used as a catalyst to improve the efficiency of fuel cells and for computer hard disks and thermocouples. The most important industrial use of gold is in the manufacture of electronics. Solid state electronic devices use very low voltages and currents which are easily interrupted by corrosion or tarnish at the contact points, that is why it works so well for it. You can check the price of the precious metals on top of our Express Pawn homepage every day for your convenience.