In alchemy and numismatics, the term base metal is contrasted with precious metal, that is, those of high economic value. Most coins today are made of base metals with low intrinsic value ; in the past, coins frequently derived their value primarily from their precious metal content; gold, silver, platinum, and palladium each have an ISO 4217 currency code. Currently they have industrial uses such as platinum and palladium in catalytic converters, are used in jewellery and also a role as investments and a store of value. Palladium and platinum, as of summer 2024, were valued at slightly less than half the price of gold, while silver is substantially less expensive.