Buy Rhodium Bullion
What is rhodium? Do metals buyers invest in rhodium? How do I buy rhodium bullion online?
Those are all common questions we get about buying rhodium online. But what is rhodium, exactly? Rhodium is a metallic element, a member of the platinum group metals, also known as PGMs. The other members of the platinum group of metals are palladium, iridium, ruthenium, osmium, and, of course, platinum. All of the PGMs have similar characteristics, resulting in the fact that many of them are used for the same applications. For example, rhodium, palladium, and platinum are all used in catalytic converters for automobiles.
Rhodium is a precious metal, and it is even rarer than platinum. Companies do not mine rhodium directly, that is too expensive. Instead, rhodium is obtained as a byproduct of platinum mining. Intriguingly, 80% of the annual rhodium output comes from just a few mines in South Africa. With labor unrest and other production problems, it would be easy to disrupt this single-source rhodium supply.
So where does all this rhodium go? Most of the annual rhodium supply is used in catalytic converters, where it helps convert unburned fuel into water and CO2. Rhodium is also used to plate jewelry, to coat certain electrical contacts, and, increasingly, for bullion investment.
Investing in Rhodium Bullion
Being a precious metal, investing in rhodium is an excellent store of value. Unlike gold and silver, which are fairly stable, rhodium has had some huge price swings over the last few decades. For example, the price of rhodium was around $550 per troy ounce in 2003, yet shot up to over $10,000 per troy ounce in 2008! These huge price swings give investors the potential to realize huge profits when buying rhodium bullion online. For the bullion markets, rhodium is produced in the form of rhodium bars, though some rare rhodium rounds also exist.
Where do I Buy Rhodium Online?
Rhodium is extremely rare. So rare, in fact, that only a couple of refiners around the world even manufacture rhodium bullion products. Baird and Company, based in London, is the preeminent producer of fine rhodium bullion, and they make a range of rhodium bars from 1/10 oz bars up to 5 ounce rhodium bars.
Baird does not sell directly to the public, so if you are planning to buy rhodium online you need to find out where the best online rhodium dealers are. Our research yielded only a few results — not many online bullion dealers even carry rhodium. Of the top online bullion dealers, we found that only CBMint, Golden Eagle Coin, and Provident Metals stocked rhodium products with any degree of regularity. Based on price, shipping times, and shipping costs, we found that CBMint was the best place to buy rhodium bullion online.
Questions about Buying Rhodium Bullion Online
Most questions about rhodium bullion are questions about the metal itself, as many investors have never even heard of rhodium. Buyers are often surprised to discover there is a valuable precious metal in the platinum group of which they have never heard. Once investors learn about rhodium, especially its potential for huge profits, many start buying rhodium online in large amounts. We look forward to keeping an eye on this exciting metal and the possibility for huge growth in rhodium prices.