Copper may not be the first metal that comes to mind when you think of collecting, but don't let its use on coins fool you into believing it's worthless. In fact, copper is one of the most profitable scrap metals out there. But when it comes to precious metals, no one can tell you what to buy, not even us. As with any other asset class, a precious metals portfolio is better insured when diversified.
For beginners, silver or gold may be the best place to start. Once you have at least part of each one in your portfolio, many investors begin to integrate lesser-known metals such as platinum, palladium or copper. By diversifying with precious metals, you can make your asset portfolio less risky. Copper has several uses and is more abundant than gold or silver, but it has many of the same properties.
For example, gold is an excellent electrical conductor and copper is still suitable for electrical projects. Copper is also highly malleable, so it can be formed into pipes, sinks, faucets and features. It has a nice color, and tends to rise as the rose gold color palette becomes more and more popular in home design. Some historic or high-end homes are even looking for copper roofing instead of cheaper slate or metal tile options. Before money was minted in more common metals, it was minted in silver or gold.
Silver dollars were actually silver, and not just silver-colored. Silver coins are worth collecting because, combined with the history and current value of silver as a precious metal, you can resell silver coins and jewelry for profit, especially if you are smart to follow the market. Many notable coins were cast in silver. For example, Greek tetradrachm coins with the goddess Athena are among the oldest in the world and stimulated the wider use of coins as a common currency in ancient Greece.
Most Greek coins from the Hellenistic era are made of silver and feature unique stamped designs. These coins are worth more than the silver they were minted from, but if you want a coin that is an investment in bullion and represents history, this is the choice that reflects both. You can find more coins like this throughout history, and silver is a common medium for minting. Platinum is largely regarded as an investment metal. When the ancient world was busy searching for gold and silver, platinum was ignored or even considered a nuisance.
Only in the last half of the 20th century did people begin to recognize how platinum resists tarnishing and had a high melting point, which made it a major player in industrial activities. Platinum now has a wide range of uses. It has beauty, so it can be used to make very durable jewelry. It also works as a chemical catalyst for refining oil and petroleum products. And it's an essential component in automotive catalytic converters that help reduce emissions from burning fossil fuels. Modern governments now mint coins made of platinum for pure investment purposes.
It may be worth buying them if you hope to make a profit as platinum expands in the industrial world. However, if you search carefully, you can still find some historical coins made of this unique metal. Unfortunately, these are among the rarest and most beautiful coins. Tsar Nicholas I minted pure platinum coins during his reign in the first half of the 19th century. These coins were not abundant or widely circulated.
Platinum is so difficult to mint because of its high melting point that these coins were discontinued, and many were only presented as gifts for high-ranking people. If you have recently renovated your home or you own a business that makes products that contain metal parts, chances are you have scrap metal lying around that could be converted into cash. It's useful to know which metals are the most valuable when it comes to recycling your scrap metal. Non-ferrous metals such as aluminum, copper and brass are usually worth more in the scrap yard than ferrous metals (those containing iron). Read on to learn about 7 of the most profitable scrap metal: lithium, aluminum and magnesium. Types of Gold You Can Collect Gold is still a valuable metal that you can collect and invest.