Gold as an investmentOf all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has been the most effective safe haven across a number of countries. Gold has been used throughout history as money and has been a relative standard for currency equivalents specific to economic regions or countries, until recent times.
MetallurgyMetallurgy is a domain of materials science and engineering that studies the physical and chemical behavior of metallic elements, their inter-metallic compounds, and their mixtures, which are known as alloys. Metallurgy encompasses both the science and the technology of metals; that is, the way in which science is applied to the production of metals, and the engineering of metal components used in products for both consumers and manufacturers. Metallurgy is distinct from the craft of metalworking.
Silver standardThe silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years.
AlloyAn alloy is a mixture of chemical elements of which at least one is a metal. Unlike chemical compounds with metallic bases, an alloy will retain all the properties of a metal in the resulting material, such as electrical conductivity, ductility, opacity, and luster, but may have properties that differ from those of the pure metals, such as increased strength or hardness. In some cases, an alloy may reduce the overall cost of the material while preserving important properties.
Silver as an investmentSilver may be used as an investment like other precious metals. It has been regarded as a form of money and store of value for more than 4,000 years, although it lost its role as legal tender in developed countries when the use of the silver standard came to an end in 1935. Some countries mint bullion and collector coins, however, such as the American Silver Eagle with nominal face values. In 2009, the main demand for silver was for industrial applications (40%), jewellery, bullion coins, and exchange-traded products.
Alloy steelAlloy steel is steel that is alloyed with a variety of elements in total amounts between 1.0% and 50% by weight to improve its mechanical properties. Alloy steels are broken down into two groups: low alloy steels and high alloy steels. The difference between the two is disputed. Smith and Hashemi define the difference at 4.0%, while Degarmo, et al., define it at 8.0%. Most commonly, the phrase "alloy steel" refers to low-alloy steels. Strictly speaking, every steel is an alloy, but not all steels are called "alloy steels".
Aluminium alloyAn aluminium alloy (or aluminum alloy; see spelling differences) is an alloy in which aluminium (Al) is the predominant metal. The typical alloying elements are copper, magnesium, manganese, silicon, tin, nickel and zinc. There are two principal classifications, namely casting alloys and wrought alloys, both of which are further subdivided into the categories heat-treatable and non-heat-treatable. About 85% of aluminium is used for wrought products, for example rolled plate, foils and extrusions.
Powder metallurgyPowder metallurgy (PM) is a term covering a wide range of ways in which materials or components are made from metal powders. PM processes can reduce or eliminate the need for subtractive processes in manufacturing, lowering material losses and reducing the cost of the final product. Powder metallurgy is also used to make unique materials impossible to get from melting or forming in other ways. A very important product of this type is tungsten carbide.
Ferrous metallurgyFerrous metallurgy is the metallurgy of iron and its alloys. The earliest surviving prehistoric iron artifacts, from the 4th millennium BC in Egypt, were made from meteoritic iron-nickel. It is not known when or where the smelting of iron from ores began, but by the end of the 2nd millennium BC iron was being produced from iron ores in the region from Greece to India, and sub-Saharan Africa. The use of wrought iron (worked iron) was known by the 1st millennium BC, and its spread defined the Iron Age.
CopperCopper is a chemical element with the symbol Cu (from cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish-orange color. Copper is used as a conductor of heat and electricity, as a building material, and as a constituent of various metal alloys, such as sterling silver used in jewelry, cupronickel used to make marine hardware and coins, and constantan used in strain gauges and thermocouples for temperature measurement.
Coinage metalsThe coinage metals comprise, at a minimum, those metallic chemical elements which have historically been used as components in alloys used to mint coins. The term is not perfectly defined, however, since a number of metals have been used to make "demonstration coins" which have never been used to make monetized coins for any nation-state, but could be. Some of these elements would make excellent coins in theory (for example, zirconium), but their status as coin metals is not clear.
Heavy metalsHeavy metals are generally defined as metals with relatively high densities, atomic weights, or atomic numbers. The criteria used, and whether metalloids are included, vary depending on the author and context. In metallurgy, for example, a heavy metal may be defined on the basis of density, whereas in physics the distinguishing criterion might be atomic number, while a chemist would likely be more concerned with chemical behaviour. More specific definitions have been published, none of which have been widely accepted.
