Platinum is pure, naturally white, kind to the skin, and found in very few places around the world. Platinum is 30 times rarer than gold and is the most precious metal commodity.
Platinum, along with the rest of the platinum metals, is obtained commercially as a by-product from nickel and copper mining and processing. During electro-refining of copper, noble metals such as silver, gold and the platinum group metals, as well as selenium and tellurium, settle to the bottom of the cell.
If pure platinum is found in deposits or other ores, it is isolated by various methods of subtracting impurities. Platinum is also non-magnetic, while nickel and iron are. These two impurities are thus removed by running an electromagnet over the mixture.
Platinum’s rarity as a metal has caused advertisers to associate it with exclusivity and wealth. “Platinum” debit cards have greater privileges than “gold” ones. “Platinum Awards” are the second-highest possible, ranking above “gold”, “silver” and “bronze”, but below diamond. For example, in the United States a musical album that has sold more than 1 million copies, will be credited as “Platinum”, whereas an album that sold more than 10 million copies will be certified as “Diamond”.
Platinum is considered a precious metal, although it’s use is not as common as the use of gold or silver. The frame of the Crown of Queen Elizabeth the Queen Mother is made of platinum. It was the first British crown to be made of this metal.