#1 Palladium Buyer Las Vegas & Henderson
What is Palladium
Palladium is a rare and lustrous silvery-white metal that belongs to the platinum group metals or PGMs (i.e., platinum, rhodium, ruthenium, iridium, and osmium) because these metals share similar properties. However, among PGMs, palladium is the softest, least dense, and has the lowest melting point.
The ore deposits of PGMs are quite limited; the most extensive ones can be found in the norite belt of the Bushveld Igneous Complex that covers the following areas:
- the Transvaal Basin in South Africa;
- the Stillwater Complex in Montana, United States;
- the Sudbury Basin and the Thunder Bay District of Ontario, Canada; and
- the Norilsk Complex in Russia.
The top two countries in the world producing palladium are Russia at 44% and South Africa at 40% while the other top producers are Canada at 6% and the United States at 5%. Moreover, another source of palladium is recycling, mostly from scrapped catalyst converters.
History of Palladium
Even though palladium has only a brief historical timeline compared to other precious metals such as gold and silver, palladium is also among the most desired metals in the world.
The gist of its history points us to William Hyde Wollaston, an English chemist, who is credited for having discovered it. In August of 1802, when he dissolved the platinum ore from South America in aqua regia (i.e., a yellow-orange fuming liquid mixture of nitric acid and hydrochloric acid) and examined the residue, he found Palladium in the ore.
Usually, after discovering something, scientists publish their respective works on what they have discovered, but Wollaston decided to anonymously sell it and to market it. Although his fellow chemist Richard Chenevix was suspicious, he still purchased a few samples of it, which he experimented, and later denounced it as a mere alloy of platinum and mercury. Thus, it had not been until 1805 when he publicly disclosed he was the discoverer of palladium.
In his lab book, he named the newly discovered noble metal after the asteroid 2 Pallas, which had been discovered two months earlier, aside from the fact that Pallas is the epithet of Athena, the Greek goddess of wisdom.
Characteristics of Palladium
In addition to its relative rarity, palladium used in jewelry manufacturing has other hallmarks that make it one of the most desired metals at present. Listed and explained below are worthwhile characteristics of palladium.
Like PGMs such as platinum and other precious metals such as gold and silver, palladium used in jewelry manufacturing is pure, and determining its purity is pretty much similar to that of platinum. In terms of purity, palladium in most trusted jewelry stores usually comes in two types:
- A jewelry piece with 95% pure palladium and 5% alloy(s)
- One with 90% pure palladium and 10% alloy(s)
Typically, palladium is alloyed with ruthenium and other hypoallergenic and practice metals producing greater hardness and consistency.
Durability and Versatility
Lighter than platinum, palladium has a very high score in malleability and thus, is among the easiest metals to fashion into any specific shape or appearance. Having little or no memory, this metal is best for the setting process of gemstones.
Since PGMs such as palladium and platinum, they make a really great choice for people with skin sensitive to certain elements like nickel (that commonly causes allergic reactions) present in 14KT gold jewelry pieces. Moreover, palladium jewelry resists wearing better than white gold jewelry.
Unlike white gold that will yellow after the Rhodium plating (that helps to prolong the bright white finish in any jewelry piece forged of precious metals) wears off, palladium has a natural bright white appearance just like platinum.
Uses of Palladium
At present, palladium has numerous important uses briefly explained below:
- Because of its usefulness in de/hydrogenation and petroleum cracking, the most common use of palladium is in catalyst converters for cars.
- Its second most common use is in electronics; in particular, it is used to coat the electrodes of multilayer ceramic capacitors found in laptops and cellphones.
- Dental instruments have small amounts of palladium (about 0.05%) that increase their sheen and decreases corrosion, and palladium is also useful in making surgical instruments.
- In lieu of platinum, palladium salts can be used in modern photography to create black and white prints.
- In jewelry making, since 1939, palladium has been used as an alternative to platinum in the alloys called white gold because palladium’s being naturally bright white does not require a Rhodium plating.
Price Quote for Palladium
As in most precious metals such as palladium, a troy ounce has been being specifically used in weighing and pricing such metals ever since the age of Roman Empire when currencies were valued in weight. This process was adopted in the British Empire where one pound sterling was worth one troy pound of silver while the US adopted such a process in 1828.
A troy ounce is about slightly heavier than an imperial ounce by 10%: an imperial ounce is equal to 28.35 grams while a troy ounce, 31.1 grams. Then, shown below are troy ounces converted into other measurements:
- Grams = 0.032151 troy ounces
- Kg = 32.150747 troy ounces
- Tonnes = 32,150,7466 troy ounces
- Tael (a weight measurement in China) = 1.203370 troy ounces
- Tola (a weight measurement in South Asia) = 0.374878 troy ounce
Ultimately, listed below are the spot prices (i.e., shown in the US dollar because it is considered a reserve currency) of palladium according to the metric system used:
- Per 1 kilogram, platinum costs 62163.47 USD.
- Per 1 ounce, platinum costs 1762.31 USD.
- Per 1 gram, platinum costs 62.16 USD.
Care and Maintenance
To clean a palladium jewelry piece, you are required to use three basic tools: warm water, commercial jewelry cleaner, and a soft-bristled brush. The steps listed below must be followed:
- The jewelry piece to be cleaned must be soaked in a small container of clean solution for five (5) minutes.
- The soft-bristled brush must be used in removing impurities and dirt from the pieces’ crooks and surfaces.
- The jewelry piece must be rinsed with warm water.
- The jewelry piece must be dried with a paper towel.
Additionally, a fabric-lined jewelry or storage box is the best in keeping your precious palladium pieces. Ultimately, per jewelry experts’ recommendation, owners must take their palladium pieces to an expert cleaner at least once in six months for a professional cleaning.
Sell Palladium Las Vegas?
Nevada Coin Mart is the #1 Buyer of palladium in Las Vegas, Henderson, and even the entire state of Nevada. Pay us a visit, and you will be given a fair market value for your valuable piece.
For many years, customers that would like to sell palladium in Las Vegas have come to us to ensure that they are well taken care of and to work with experts in this jewelry niche.