11 Most Expensive Metal in the World

Have you ever wondered What is the Most Expensive Metal in the World?

Well, we have researched and compiled the list of the most expensive metals in the world. Now let’s satisfy the burning curiosity in you.

First of all, you should know that this list is a mere outline of the most expensive metal in the world.

We have taken the information from sites like Metalary, Mining technology, Britannica, 911 metallurgist, Royal Society of Chemistry.

According to the world market, the prices and the values of these metals keep going up and down.

There are three factors to decide the price of various expensive metals globally: scarcity, applications, and market demand.

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The Most Expensive Metal in the World.

Let’s talk about the most expensive metal in the world.

11. Silver (AG)

Silver (AG) is a shiny-white metal with the atomic number 47 in the Periodic table.

This shiny metal has been used since prehistoric times and there is no information about its discovery.

It shows metal’s electrical, thermal conductivity, and reflectivity.

Most of the silver compound is the byproduct of gold, copper, lead, and zinc refining.

Silver reacts with sulfur and its compounds, not with air and in extreme heat.

It is used to manufacture currency coins, solar panels, water filtration, jewelry ornaments, and utensils.

Its other compounds are used in disinfection and microbicides, bandages and wound dressings, catheters, and other medical equipment.

According to Statista.com, Mexico, Peru, China, Australia, Russia, and Poland are leading silver-producing countries.

The price of Silver is approx $0.80 per gram.

10. Indium (In)

Indium(In) is a white soft, malleable metal with an atomic number 49.

Indium was first discovered in 1863 by Ferdinand Reich and Hieronymous Theodor Ritcher using Spectroscopic methods.

This metal is gleaming and has excellent luster. Indium metal breaks down in acids.

This chemical element doesn’t respond with oxygen at room temperature.

It is known as a “Metal Vitamin” in alloys which makes significant changes in an alloy.

Indium is used in the manufacturing of batteries, dental materials, and electronic devices, and research.

China, South Korea, and Japan are its leading producers.

Indium costs around $1 – $5 per gram, counting on purity and quantity.

9. Iridium (Ir)

Iridium(Ir) is a silvery-white transition metal with atomic number 77 in the Periodic table.

In the year 1803, the English chemist Smithson Tennant, French chemists H.V. Collet-Descotils, A.F. Fourcroy, and N.L. Vauquelin discovered platinum, but credit usually goes to Tennant.

This chemical element is the second-densest element after Osmium.

This transition metal is derivative of nickel and copper mining and processing.

Iridium is used in platinum alloys for making jewelry, pen points, surgical pins and pivots, and electrical contacts.

According to Statista, Iridium is primarily found in South Africa, Alaska, United States, Ryan, Brazil, Russia, and Australia.

As of April, 2024, Iridium costs $18.34 per gram.

8. Osmium (Os)

Osmium(Os) is a bluish-silver metal with atomic number 76 in the Periodic table.

This metal was discovered in 1803 by British chemist Smithson Tennant in London.

Osmium is found as a trace element in alloys and platinum ores.

It’s the hardest, densest, and brittle metal with an extremely high melting point. It is double dense as lead.

Osmium is used commercially as a derivative from nickel and copper mining and processing.

Manufacturers use Osmium alloy to make fountain-pen nib tipping, instrument pivots, needles, and electrical contacts.

According to MMTA, Osmium is found in Russia, Canada, South Africa, and the USA.

Osmium costs about $31.01 per gram in the present.

7. Platinum (Pt)

Platinum (Pt) is a silvery-white transition metal with atomic number 78 in the periodic table.

Firstly Platinum was discovered by South American people who made jewelry from white-gold platinum but the first written account of this metal was Julius C Scaliger in 1557.

It is a dense, malleable and ductile metal.

This silvery-white element is a by-product of nickel and copper mining and processing.

Platinum compounds are used in lab equipment, thermometers, dentistry equipment, jewelry, catalytic converters for cars, buses, and trucks.

This chemical element is used in electrical equipment for computer hard disks, optical fibers, LCDs, turbine blades, and spark plugs.

The major producers are Russia, North and South America, Canada, South Africa.

Platinum costs about $33.57 per gram in the present.

6. Rhenium (Re)

Rhenium (Re) is a silvery-white chemical element with the atomic number 75 in the Periodic table.

In the year 1925, Rhenium is generally considered to have been discovered by Walter Noddack, Ida Tacke, and Otto Berg in Germany.

Rhenium has the second-highest boiling point of any stable element.

It is the byproduct of molybdenum and copper ores.

Rhenium’s applications are used in treating liver cancer, x-ray tubes, combustion chambers, turbine blades, exhaust nozzles of jet engines, etc.

Rhenium was named after the Rhine river from Europe.

According to Index Mundi, the leading producers of Rhenium are Chile, Peru, United States, and Poland.

Rhenium costs about $41.47 per gram in the present.

5. Gold (Au)

Gold (Au) is a transition metal with atomic number 79 in the periodic table.

Since prehistoric times, Gold is known by humans and treasured. There are no written records about who discovered it. We know that it could have been discovered in a river bed.

It is a bright, reddish-yellow, dense, soft, malleable, and ductile metal.

This metal is the least reactive chemical element. Gold is found in nature as in a free native state.

Uses of Gold are found in rockets, submarines, computers, jewelry,  photography, dentistry, batteries, batteries, solar panels, etc.

According to the Royal Society of Chemistry, Gold is found in countries like China, Australia, Russia, the USA, Canada, Peru, etc.

The cost of gold per gram is $57.45 in the present. 

4. Palladium (Pd)

Palladium (Pd) is a silvery-white metal with atomic number 46 in the Periodic table.

In 1803, English chemist William H. Wollaston discovered Palladium in London.

This metal has the least melting point and the least dense metal in the Platinum Group Metals(PGM).

Palladium is extracted after refining copper and nickel ores. This metal is more reactive in comparison to other platinum metals.

This dense metal is used in jewelry, electronics, laptops and mobile phones, catalytic converters for cars, dental works, jet engine parts, missile nose cones, etc.

According to the Royal Society of Chemistry, Palladium’s major producers are South Africa, Russia, Zimbabwe, Canada, United States, etc.

Palladium costs $84.81 per gram at present. This metal is the fourth most expensive metal in the world.

3. Ruthenium (Ru)

Ruthenium (Ru) is a silvery-white transition metal with the atomic number 44 in the Periodic table.

Ruthenium’s discovery is credited to Karl k. Klaus in Kazan, Russia, in the year 1844.

However, nearly 20 years ago it was examined by Swedish chemist Jons Jacob Berzelius and Russian chemist Gottfried W. Osann at its impure form.

This transition metal is a byproduct of nickel, copper, and platinum metals ore processing.

The ruthenium compound is used in electronics, fountain pen nibs, film resistors, and solar cells to turn light into electrical energy.

The major producers are the north and the southern U.S., South Africa, Russia, Canada.

Ruthenium costs about $87.57 per gram in the present. This metal is the third most expensive metal in the world.

2. Scandium (Sc)

Scandium(Sc) is a silvery-white metal with the atomic number 21 in the Periodic table.

Scandium was discovered in Uppsala, Sweden by Lars F. Nilson in 1879.

It has a similar density to aluminum and has a higher melting point. Scandium breaks down to weathering and dissolves slowly in most dilute acids.

Because of its density, scandium is used in alloys to make sporting equipment like bicycle frames and baseball bats.

Most interesting of it might have applications in the aerospace industry.

It is found in Ukraine, China, Russia, Kazakhstan, Australia.

One gram of Scandium acetate is valued at $270 making it the second most expensive metal in the world.

1. Rhodium (Rh)

Rhodium (Rh) is a silvery-white transition metal with atomic number 45 in the Periodic table.

In 1803, Rhodium was discovered by English chemist William Hyde Wollaston (who discovered the element palladium).

He extracted rhodium from a piece of platinum ore that was obtained from South America.

This metal is highly reflective and resistant to corrosion.

This chemical element is the rare, most valuable precious metal found in free metal.

Most demand for Rhodium is from the automotive industry. The alloys of Rhodium appear in furnace coils, aircraft engines, lab crucibles, etc.

According to the Royal Society of Chemistry, South Africa (80% of the world’s supply), Russia, Zimbabwe, Canada, United States, Colombia, Botswana, Finland, etc., are producers of Rhodium.

The current price per gram of Rhodium is $535.31 per gram, making it the most expensive metal in the world.

Honorable Mentions

Californium (Cf)

Californium (Cf) is a silvery-colored chemical element with atomic number 98 in the periodic table.

In 1950, it was produced by Stanley Thompson, Kenneth Street, Albert Ghiorso, and Glenn Seaborg in California, the USA in a lab at the University of California, Berkeley.

This silvery metal has no biological role and is prepared in milligram amounts only.

Californium is made by firing helium nuclei (alpha particles) at curium-242.

All californium isotopes are radioactive, toxic elements.

Californium is a strong neutron emitter used in portable metal detectors to identify gold and silver ores and airplanes to detect metal fatigue and stress.

Similarly, a gram of californium-252 can cost $27 million per gram.

Californium is now the most expensive metal globally, found in limited amounts and produced in the lab only.

Because of its low availability, it is not on the list.

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