What is the Difference Between Gold, Silver, Platinum, and Palladium When Selling Precious Metals?
When it comes to selling precious metals, there are four that are considered “precious”: gold, silver, platinum, and palladium. But what makes these metals so special?
Sure, you have seen the ads about selling your gold, and maybe you even considered it but have never quite gotten around to it. Did you know that gold is not the only precious metal that you can profit from selling? Alloy lets you use your smartphone to sell your precious metals – it doesn’t get much easier than that!
Gold
Gold is a popular precious metal because it is durable and malleable. It is also resistant to corrosion, making it an attractive choice for use in technology – like circuit boards or cell phone parts. For over 6,000 years, gold has been used in making jewelry. It is one of the oldest precious metals used to signify wealth and social status. As one of the least reactive elements, gold does not react with air or water, allowing survival in even the harshest of conditions and is one of the most sought after precious metals.
Silver
Silver is a precious metal widely used in household objects and goods, in addition to jewelry. Unlike gold, silver is known for being a less expensive precious metal, but it holds its value over time. By holding its value, it makes silver more appealing for resale purposes. Silver, in any form, can be liquidated quickly – earning you cash for the things you want or need the most. Did you know that even tarnished silver maintains its value? The tarnishing does not in any way inhibit your ability to sell your silver for a fair price.
Platinum
Platinum is a hypoallergenic precious metal, which means that it will not cause an allergic reaction when touching the skin, which is why it is a popular choice in jewelry. Unlike gold and silver, which can be found in abundance, relatively speaking, platinum is a rarer precious metal. Due to its scarcity, it is more expensive than other precious metals – but it is desired due to its strong and dense composition.
Palladium
During World War II, palladium was a precious metal that was reserved for military use only due to its unique properties. More recently, however, palladium gained popularity because of its use in alloys to make “white gold.” Of the precious metals listed, palladium is often chosen due to its strength and durability – it is stronger than gold and is 15% stronger than platinum. As a precious metal, palladium is most commonly used in wedding rings or other jewelry that needs to withstand the test of time.
Selling Precious Metals
If you have gold, silver, platinum, and palladium laying around your home, you might be wondering if you should sell them. One of the greatest attributes these four precious metals share is their excellent resale value and ability to hold value over time. Luckily, with Alloy, you can sell your precious metals for cash – which you can use for the things you really want or need. It’s as easy as opening the app, inputting the information, and getting your offer. Try it out today!