We stock five metals. They are not five versions of the same thing, and the differences between them are larger than most buyers expect. Here they are set against each other, with links through to the detail on each.
Gold
The reference point. Gold is dense, chemically inert, and does not corrode or tarnish. Demand is overwhelmingly monetary and ornamental rather than industrial, which means gold is not tied to the manufacturing cycle the way the other metals are.
Value is highly concentrated, so a meaningful holding occupies very little space. Premiums are proportionally the lowest of the five, because the metal is worth so much relative to the fixed cost of making a coin. Liquidity is the best of any: gold sells anywhere, quickly.
The trade off is entry price. A full ounce is a significant outlay, though fractional pieces and small bars lower the threshold.
Read more: buying gold, gold bars, gold coins.
Silver
The usual starting point, and the most volatile of the precious three. Roughly half of silver demand is industrial, which ties it to the economic cycle and produces sharper moves in both directions.
Entry price is low, which is the main appeal. The counterweight is bulk. Because silver is worth a fraction of gold per ounce, any given sum buys a great deal more physical metal, and storage becomes a genuine logistical question rather than an afterthought. Premiums are proportionally higher than gold for the same reason: fixed production costs are a bigger share of a cheaper metal.
Liquidity is excellent, second only to gold.
Read more: buying silver, what silver is used for.
Platinum
Rarer than gold and harder to produce, melting at around 1768 degrees Celsius against gold's 1064. A large share of demand is industrial, principally catalytic converters, so platinum can move on automotive news that leaves gold untouched.
Bullion platinum is typically 9995 fine rather than the 9999 common in gold. Premiums run higher than gold, and liquidity is thinner, which can mean a wider gap between buying and selling prices.
Most buyers treat platinum as an addition to an existing holding rather than a starting point.
Read more: platinum bars and coins.
Copper
Produced to the same standards as the precious metals, usually 999 fine, in the same formats. What differs is scale and purpose.
Copper trades at a small fraction of silver, so a copper round represents very little metal value and the fabrication cost dominates the price. Demand is effectively entirely industrial, centred on electrical infrastructure and construction.
Being straight about it: the resale market is much thinner than for precious metals, and copper should be bought because you want the object, the metal and the accessibility rather than as a substitute for gold or silver. It also needs the most care of the five, since copper oxidises readily and will darken without capsules and humidity control.
It is the only one of the five practical for custom struck designs at business volumes.
Read more: copper bullion, custom rounds.
Titanium
The outlier, and the one that surprises people physically. Titanium's density is around 4.5 grams per cubic centimetre against gold's 19.3, so a one ounce titanium bar is more than four times the volume of a one ounce gold bar at identical weight.
It is difficult to produce, melting at around 1668 degrees and reacting with air when molten, so it must be worked under vacuum or inert gas. That is why titanium bullion is rare and why fabrication dominates the price.
There is no meaningful dealer network quoting titanium against a spot price. It is bought because it is unusual and interesting, not as a precious metal substitute. Its one genuine advantage is that it needs no care at all: a stable oxide layer makes it effectively immune to tarnish, patina and fingerprints.
Read more: titanium bullion.
Choosing between them
A rough guide.
Concentrated value in minimal space, best liquidity, lowest premium: gold.
Lowest entry price, willing to accept volatility and bulk: silver.
A third precious metal with different drivers, added to an existing holding: platinum.
Accessible, tangible, good for gifts and custom work: copper.
Unusual and interesting, minimal maintenance: titanium.
Most people who hold metals long term end up with more than one, for exactly these different reasons.
Frequently asked questions
Which metal should I buy first?
Gold or silver. Both have deep dealer networks and straightforward resale. Platinum, copper and titanium make more sense as additions.
Which metal is most volatile?
Silver among the precious metals, because roughly half its demand is industrial and its market is much smaller than gold's.
Which is easiest to sell?
Gold, followed by silver. Platinum is thinner, copper thinner again, and titanium has no comparable network.
Why is a titanium bar so much bigger than a gold bar of the same weight?
Titanium is far less dense, so the same weight occupies over four times the volume.
Browse all five
We stock gold, silver, platinum, copper and titanium. See the range or visit the showroom at 124 Peterborough Street, Christchurch.