Discovered in South America by Spanish conquistadors in the 16th century, platinum is a rare and valuable metal. It has a number of unique properties, such as a high resistance to corrosion, high melting point, and low reactivity with other elements, which make it useful in a variety of industrial applications. Platinum is often used as a catalytic converter in automobiles, as well as in the chemical and electronics industries. It is also a popular material for jewelry due to its durability and resistance to tarnishing. Due to its scarcity and unique properties, platinum is considered a precious metal, with a value higher than that of gold.