Why Platinum Scrap Will Continue to Be a Great Investment
There is a simple reason why the demand for platinum scrap will remain strong in the future . . .
The world’s platinum mines cannot keep up with the demand for platinum in manufacturing
According to statistics gathered by Statistica.com, 211.6 metric tons of platinum was used in manufacturing in the year 2022.
That’s a lot of platinum, and it might interest you to know where it was used.
3.26% was used in pollution control devices
3.36% was used in petroleum production
3.78% was used in dental and biomedical applications
5.24% was used in electronics
6.9% was used to make glass
9.75% was used in chemical production
41.45% was used in automotive manufacturing
21.27% was used to make jewelry
And How Much Platinum Is Mined from the Earth Every Year?
According to Statistica.com, only about 180 metric tons were mined in 2019 (the most recent year for which statistics have been gathered).
What the Difference between Demand and Supply Means for Investors
Prices for platinum are likely to increase
Demand for platinum will make it a liquid investment, meaning it will continue to be easy to sell
And What Is Your Best Platinum Investment?
At Specialty Metals Smelters and Refiners, we believe that platinum scrap is the best investment you can make in this precious metal, far better than platinum coins or bullion. Why? For the very simple reason that a coin or bullion bar you buy will only increase at the same rate that platinum trading prices do. Scrap, on the other hand, is an investment that can pay a much higher return because it allows you to buy unrefined platinum at prices that are often 50 cents on the dollar or less. You can then have Specialty Metals Smelters and Refiners extract the platinum your scrap contains and realize a sizable return for every dollar you invested.
What Platinum Scrap Investments Do We Believe In?
Here are some of the platinum scrap investments that we think should be on your radar:
Old platinum engagement rings and other items of jewelry
Platinum sponges and powders that were used in industrial applications
Aerospace scrap like turbine blades that were used in jet engines
Electronic scrap (not all of it contains platinum, but some does, like electronics that were used in commercial and military jet planes
Call Us Today to Discuss Your Future Profits in Platinum Scrap Investing
Our precious metal refiners are available to discuss investing in platinum scrap of all kinds. We invite you to call at 800-426-2344.