The History of Precious Metals & Their Uses

There are many precious metals, and the five most important are gold, silver, platinum, palladium and titanium. These have been around for a long time now. And some of them are fulfilling the same function now as they have been for thousands of years. But each of them has also developed and found new uses over time. Read on to find out more.

Gold

Gold is one of the most rare and highly sought-after metallic elements on earth. Gold has been around for centuries, and the Incas even referred to it as the tears of the sun. And the precious metal even gets mentioned in ancient Greek texts and literature. That shows you just how far back the human interest in gold really goes. It’s thought that the first gold coins were used in around 700 BC though. It was mined for around the Mediterranean and Middle East regions. No matter how far back you go, gold has always held intrinsic value for humans.

Today, gold is still used by many large banks. They like to store their liquid reserves as gold. This can come in the form of gold bullion or coins. Although gold mining is actually declining right now. It is most commonly used in jewellery, as an investment and in some electronic products. The practical use of gold is much smaller than for other precious metals though. About half of all gold in existence is used in jewellery, 40% goes towards investments and about 10% is used in industry and electronics.

Silver

It’s believed that the mining of silver goes back about 5000 years to what is now Turkey, in the Anatolia region. Early civilisations in the Middle East and Greece used silver for exchange. And it helped these civilisations to flourish. The other major landmark in the use of silver came when the first Spanish conquests reached the Americas, then known as the New World. What is now North and South America was mined extensively, and silver played a huge part in this. Peru, Mexico and Bolivia became the global powerhouses for the production and trade of silver.

In more recent times, the introduction of new mining and drilling techniques have seen production rise even further. The increase really started during the second world war though. This is because copper shortages forced people to look for alternatives. And silver is the metal that they turned to. This was the first time that silver has been used extensively for a number of industrial tasks. It is now used in solar energy, air conditioning, dentistry, photography and medicine. It is much more widely used than gold is.

Platinum

There have been traces of platinum that go back thousands of years. But it is still seen as a relatively new form of precious metal. This is because the first European reference to its use only goes back less than 500 years to the 16th century. The Spanish tended to see platinum as an impure version of gold, but they got this wrong. More research and testing wasn’t done until the 18th century when Charles Wood found samples of it in Jamaica. William Brownrigg then presented his findings to Royal Society.

In commercial terms, platinum is now obtained as a by-product from nickel and copper mining and processing. Today, platinum is most commonly used in the production of new cars. Vehicle emissions control devices rely heavily on platinum. These are known as catalytic converters. This is the single biggest use of platinum in the contemporary world though it took a slight hit after the VW emissions scandal. But it is also used for things like jewelry and as a form of investment. It is also often simply used as a symbol of wealth because of the rarity associated with platinum.

Palladium

Palladium was named after the asteroid Pallas by William Hyde Wollaston in the early 19th century. The precious metal is mostly produced in three countries today: Russia, South Africa and Canada. It is generally used in cars and has been for a long time now. It works as a catalyst that speeds up hydrogenation reactions, as well as dehydrogenation reactions. That is the main use for the metal these days, but it’s certainly not the only way in which it can be used.

In the world of electronics, palladium is a big deal. They are used in the manufacture of multilayer ceramic capacitors. These are used to store electrical energy in electronic items. It is also used to store hydrogen because it can readily absorb it. One thing that it is not commonly used for, unlike other items here, is for the production of money. The only example is the commemorative Soviet coins that were produced. And this only really happened because of Russia’s position as the world’s biggest producer of palladium. Unlike other precious metals, this one is not really associated with wealth or exclusivity. But it is relatively scarce.

Titanium

Titanium is a metal with a low density and a very high strength. This is one of the things that makes it so desirable still. It was discovered by an amateur geologist, William Gregor, in 1791. He found some black sand, and then realised that it was attracted by a magnet. This was the first recorded discovery of the metal that became titanium, after being named after Titans, from Greek mythology. There are many important things about titanium, but the most significant is how it is resistant to corrosion.

The strength benefits of titanium have made the metal essential in the aerospace and marine industries. They are not corroded by seawater, meaning that they are used for any metal that comes into contact with seawater. This is something that was first pioneered in the Soviet Union during the 1950s and 1960s. They developed new techniques for building submarines that made use of titanium to protect the submarines in the water. Titanium is also used in the medical industry. Things like joint replacements often make use of titanium.

Which States are the Best for Buying Tax Liens?

So, you might be looking to increase and diversify your investment portfolio. And, there are a lot of things you might choose to look into if you want to do that. This means considering the other investment avenues you might take into account. So, it might be worth considering buying into things like tax liens. This is something that a lot of Americans are looking at doing these days and there a plenty of benefits to be had.

You just need to think about what the best possible ways of doing this. First, you need to consider what a tax lien is and how it can benefit you. Simply put, it is a tax imposed by the government on a business or taxpayer to secure the payment of taxes. It is often considered to be a last resort to get people to pay up the taxes that they owe. Failure to pay tax liens might result in a court date and possible bankruptcy.

Did you know that it is very simple to buy tax liens these days? This is a great alternative I investment to get you away from the overcrowded and volatile stock market. By investing in tax liens, you are purchasing the existing tax on property for a small fee. Then you can set about reclaiming the tax owed to you by the property owner, plus interest of course. Investing in tax liens can be highly rewarding, but it also carries a high risk with it as well.

New York

The Big Apple is also one of the best places to hunt for tax liens to invest in. There is so much property in New York, and the cost of living is so expensive. That means there is much more opportunity for investing in tax liens. But, you’re going to need to be careful because it’s such a saturated market. There will be a lot of competition for the investments that you want, so you’re going to need to be careful. The best way to get ahead of the crowd is to constantly check the online facilities and auction information until you find new things.

Arizona

Why should you invest in property tax liens in Arizona? Well, there are, as always, a number of factors that should be accounted for. And, one of the biggest ones is the size of the state. You can buy tax liens in one of the biggest states in the country, and that is an attractive prospect. It means there is so much more variety and choice to pick from. It also means you will probably get quite a big spectrum when it comes to prices. Again, you are able to do this online which makes it so convenient and simple. There is so much land and real estate in Arizona that this might be the perfect place to start if you’re considering this sort of investment.

Florida

What makes Florida such a good state for buying tax liens is its location. Because it is on the coast, there is a lot of expensive beachfront property. So the likelihood of people defaulting on their payments is pretty high. This makes it an excellent state to target when it comes to wanting to buy up tax liens. It is also very simple to be able to do at the online auction. Ease of doing something is so often an important factor in the decisions that people make. So, be sure to make Florida one of the top states for you investment liens.

Is There a Perfect State?

The common question is whether or not there is a perfect state for buying tax liens. And the answer is no because everyone is different. It depends entirely on your financial situation and your goals, as well as where you live and how experienced you are. So, you need to take this into account when you make decisions. Some of the states are more attractive prospects than others, but there is no super-secret state that will be better than all the rest.

When you make the decision to invest in property tax liens, there are a lot of choices to make. One of the biggest decisions is figuring out whether this is the right move for you. You have to understand what you have in terms of finances and interest. The first thing you need to do is make sure you understand what tax liens are, and how they can benefit you. A lot of your decision-making will depend on where you live and what you can afford. So, there are a lot of states you can choose from, but it’s really down to personal choice.