Platinum Uses

Platinum uses
Platinum was used only in a limited way in jewelry until the end of the 19th century because of its rarity and difficulty to work with it. Crucial for its wide commercial uses was the development of method for processing platinum ore by English chemist and physicist William Hyde Wollaston in 1803.

Today platinum has many uses. The majority of platinum's yearly production (about 60%) is being used in automotive industry. Because of its catalytic properties platinum is used as a catalytic converter although it is being slowly replaced by palladium because of its high price. However, besides its catalytic properties platinum is also desired in industry because of its resistance to high temperatures, to chemical attack, to corrosion and for its stable electrical properties.

Because of it attractive silvery-white appearance and wear- and tarnish-resistance platinum is also appropriate for making fine jewelry, while platinum and its alloys are also used in dentistry, medical instruments, electrical contacts, etc.

Besides its use in many sectors and branches of industry platinum can be also used as an investment option but it is important to mention that platinum as an investment has a much shorter history than gold and silver. However, today platinum is considered more prestigious than gold and is also much more expensive. Besides platinum bullion bars it is possible to invest in platinum bullion coins but because of high cost of minting and difficulties in working were minted only few varieties of platinum bullion coins.

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