However palladium is fast becoming the new popular precious metal so it is a good idea to know something about it.
A British chemist, William Hyde Wollaston was the discoverer of palladium in 1803.
He named this new precious metal after "Pallas" the ancient Greek goddess of wisdom.
It was not very well known for many years until recently except in industry and manufacturing where it was used extensively in a variety of ways.
Palladium is steel white in appearance yet does not tarnish in air.
It is a member of the platinum group of metals and has the lowest density of the entire group.
It also has the lowest melting point of the group.
Palladium can be used for purification of hydrogen as it readily diffuses through the heated metal and can absorb up to 900 times it's own weight in hydrogen.
Palladium is used in a number of applications including dentistry, surgical instruments, electrical contacts and components.
Watch making and oxygen sensors among many other uses.
It is also used in jewelry as it is cheaper than platinum and easier to work for jewelers.
Palladium jewelry products are usually sold as 95 percent palladium as palladium looks very similar to platinum but is not so hard.
It is becoming increasingly popular since it is around half the density of platinum and so more jewelery can be produced per dollar.
US stamping laws have placed no restrictions on palladium jewelery products in the US and palladium is not even recognized in some European countries as a precious metal and so is not hallmarked.
Nevertheless it makes an ideal metal for jewelery as it does not requite any plating and its white sheen does not wear off.
Palladium is now an up a coming precious metal and many mints now strike palladium coins and small bars, called biscuits, which are becoming more popular with investors and coin collectors.
More information about palladium is obtainable from http://palladium-price.