FX.co ★ Top 7 most expensive metals

Californium-252

The leader by value is Californium-252, one of the isotopes of the industrial metal californium. This achievement is listed in the Guinness Book of Records. Its astonishing price reaches $10 million per gram. Global reserves of Californium-252 amount to only 8 grams, with annual production limited to 30–40 micrograms. The rare metal is produced through highly complicated and lengthy laboratory processes, as it does not occur in nature. Californium-252 was first obtained in the US in 1950. Its main value lies in its immense energy, comparable to that of a medium-sized nuclear reactor. It is used in nuclear physics and medicine, particularly in radiation therapy for cancer. It also helps identify gold and silver deposits, as well as detect flaws in reactors and aircraft.

Osmium-187

The second most expensive metal is Osmium-187, formed from the decay of the isotope rhenium, which has an extremely long half-life. The ratio of osmium to rhenium isotopes helps determine the age of rocks and meteorites. Scientists note that there are many osmium isotopes, making separation highly difficult. For this reason, some isotopes are particularly costly. The rarest among them is Osmium-187, whose extraction process is extremely complicated and takes around nine months. It is obtained as a fine black crystalline powder with a violet tint. Osmium-187 is considered the densest metal on Earth, though it is also very brittle. It has major scientific and research significance, serving as a catalyst in chemical reactions, in the production of precision measuring instruments, and in the medical field.

Rhodium

Rhodium, a unique metal, was discovered in England in 1803 during platinum research. Its name derives from the Greek word for “rose,” since typical rhodium compounds have a deep red color. Rhodium is a hard, noble metal with powerful reflective properties and strong resistance to oxidation and corrosion. Annual global production is only about 30 tonnes. It is used in the manufacture of mirrors and headlights, in the automotive and chemical industries, and in jewelry to create durable, corrosion-resistant coatings. Rhodium plating is also common in high-quality costume jewelry. The United States issues rhodium coins, not as legal tender but as investment tools, while Rwanda issues rhodium coins as actual currency. The largest deposits of rhodium are located in Russia, Canada, and South Africa.

Palladium

Another valuable metal is palladium, named after the asteroid Pallas. It was first identified in 1803 during the study of platinum ores. Palladium is a light, malleable, silvery-white metal belonging to the platinum group. It is low-melting, polishes well, and is resistant to corrosion. Palladium is widely used in jewelry thanks to its exceptional flexibility, which allows for the creation of intricate designs. The metal is also applied in the chemical industry, medicine, and electronics. In recent years, palladium prices have risen sharply, currently standing at around $60 per gram.

Gold

Gold, the most famous precious metal, has been mined since ancient times. It is most often used in jewelry and as an investment asset. Gold is one of the few metals found exclusively in its pure form. It is a dense, heavy, yellow metal, soft yet highly malleable. The jewelry sector remains the largest consumer of gold. However, jewelry is not made from pure gold but from its alloys with other metals that enhance strength and durability. Global gold reserves are distributed as follows: around 10% in industrial products, with the rest divided among central bank reserves (standard gold bars), private holdings (bars), and jewelry.

Iridium

Iridium was discovered in 1803 by British chemist Smithson Tennant, who identified it alongside osmium. It is a platinum-group metal—heavy, hard, and brittle, with a silvery-white hue. It boasts exceptional resistance to corrosion, even at temperatures up to 2,000°C. Iridium does not occur naturally in pure form, and high concentrations of it in rock samples often indicate extraterrestrial, meteoritic origin. Iridium is rarely used on its own but is important in alloy production. In jewelry, it is added to platinum, producing extremely hard and durable pieces. Iridium is also used in surgical instruments, electrical contacts, precision scales, aerospace technology, biomedicine, dentistry, and chemical engineering.

Platinum

Rounding out the top seven is platinum, known since pre-Columbian times. Ancient South American civilizations mined and used it, and the first Europeans to encounter it in the mid-16th century were Spanish conquistadors. The word “platinum” translates as “little silver,” referring to its color and high melting point. In Russia, platinum was first discovered in 1819 in the Urals near Yekaterinburg, and in 1824, platinum placer deposits were found in the Nizhny Tagil region. The reserves were so abundant that Russia became the world’s leading platinum producer for many years, before later ceding leadership to South Africa. In nature, platinum occurs only as alloys with other metals and is highly malleable. Today it is used in jewelry, weaponry, and medicine. A few years ago, platinum was more expensive than gold, but its current price is in the range of $28–$30 per gram.