Investing in Osmium: Stocks, ETFs and Physical Osmium
Osmium is the densest naturally occurring element and one of the rarest precious metals. There is one direct way to invest in it: owning it physically, as crystals or bars. There is no osmium stock, no osmium ETF and no exchange price. This page explains what that means for investors, what they use instead, and how to buy, sell, trade osmium and how to understand the osmium market.
Last updated 3 November 2026
Click a step to see its advantages and drawbacks.
In case of shortages the industry might also engage in the market for bars to gain back raw material. That also depends on the cost of creating powder out of it again.
lower €/g More processing & scarcity
higher €/g
Is osmium a good investment?
Osmium can work as a long-term store of value for a small part of a portfolio. It is a young, small market without an exchange price, so it suits buyers who plan to hold for years, not traders.
1Chances: what could add value
These factors can work in favour of osmium owners. None of them is guaranteed.
Rarity and limited supply
Only around one tonne of osmium is produced worldwide each year, compared with more than 3,000 tonnes of gold. It is a by-product of platinum and nickel mining, so supply cannot be increased on demand. More on its abundance and properties: osmium info.
A stable physical form
Crystalline and sintered osmium are stable at room temperature and non-toxic. Each MetaMetals product has a serial number and a digitally signed certificate of authenticity.
Scarcity through processing
Crystallization takes weeks to months, and only a few uncut crystals can be cut into jewelry-ready crystals. Each processing step makes the end product scarcer. Why ordered crystal structures carry value: entropy and value in crystallization.
Collector value
Many collectibles in human history have turned out to be great investments. Limited editions, custom engraving, unique crystal structures, mirror-polished bars, certification and additional services can add value beyond the metal itself.
Higher demand
Demand can rise from more market attention, from collectors looking for especially desired crystals, and from the jewelry sector for cut crystals and mirror-polished bars.
Better tradeability and price transparency
The MetaMetals marketplace (test phase) and MetaMetals Pro (in development) aim to make osmium easier to resell between verified owners. Public bids and, once owners can resell, resale prices create public price data and reduce the structural risk of a market with only a few suppliers.
An alternative to diamonds
Osmium is an alternative to diamonds in jewelry. It is a chemical element, while diamonds can be manufactured in industrial processes from carbon, which is abundant on earth.
Holding period
In some countries, such as Germany and Austria, private individuals pay no tax on gains from selling physical precious metals after a holding period (in German: Haltefrist), often one year. VAT on the purchase is a disadvantage (see Risks), but this can be an advantage for long-term holders. Rules differ by country; ask an independent tax advisor.
2Risks: what investors should know
The main risk of osmium is not its price but how easily you can sell it. We name the risks openly and show directly how MetaMetals addresses each one. Tap a risk:
Liquidity and tradeability
There is no exchange price. Prices are set by dealers, not by a market like the London gold fix, and they can differ. You cannot sell osmium at the click of a button: finding a buyer takes time and the price is negotiated. Compare before you buy and before you sell; the current price per gram is on the osmium price page.
We are building a marketplace for reselling between verified owners. In its test phase, bids on each crystal are already public (section 3). Until owners can resell there, plan to hold osmium for the long term.
Structural market risk
The osmium market has only a few suppliers. They largely set prices, and there is little independent price data from liquid trading. More on this in few suppliers.
What a market with few suppliers means for you, and what MetaMetals does about it: see few suppliers below.
A young market
Crystalline osmium has only been sold for a little over ten years, products like sintered bars are even younger. So there is no long price history, espically not one the financial sector would frame as liquid market. Statements framing osmium a "store of value" have not yet had the chance to prove themselves.
We say what is known and what is not, with sources. Until the issues with tradeability have been resolved, we openly speak about osmium products as collectibles rather than as an investment. Buy only as much as you can hold for years without needing to sell.
Costs
Unlike investment gold, osmium is subject to VAT in the EU. VAT on a first-hand purchase and the spread between buying and selling price reduce your return.
Our prices per gram are public, so you can compare the full cost before you buy. For long-term holders, the holding period can offset part of the VAT disadvantage (see Chances).
Purity
Buy only certified products. Impure osmium (for example with too much sulfur or other elements in it) makes refining for industrial players much more complex.
Every MetaMetals product has a stated minimum purity (bars ≥ 99.95 %, crystals ≥ 99.995 %), a serial number and a digitally signed certificate of authenticity.
Industrial resale
Industry mainly uses osmium sponge and powder. If industrial buyers wanted to buy bars back as raw material, the bars would first have to be processed into sponge again, which takes effort and costs money. Selling bars to industry is therefore not a simple exit.
We do not present bars as an industrial exit. Industrial demand for raw osmium is served separately through our industrial services.
Different forms of osmium
Osmium is available as powder, bars, uncut crystals, cut crystals and jewelry. Some suppliers also offer less common forms such as osmium beads. Each supplier has its own product range, and unlike the gold market, there is no global standard. Every form comes with its own risks and chances, as shown in the diagram above.
We explain each form, how it is processed and why its price per gram differs (diagram above and section 2), so you can compare like with like.
How to invest in osmium: crystals or bars
To invest in osmium, you buy it physically. There are two forms: sintered bars, if you want osmium by weight at the lowest price per gram, and crystals, if you value rarity and a structure that exists only once. Every piece carries a serial number and comes with a digitally signed PDF certificate of authenticity.
| Crystals | Bars | |
|---|---|---|
| Form | Crystalline osmium, grown in-house in Austria; cut or uncut. See how osmium crystals are grown. | Sintered under high pressure in Austria |
| Purity | ≥ 99.995 % | ≥ 99.95 % |
| Sizes | Individual weights, priced per piece | 1 g, 1/10 oz and 1 oz |
| Price per gram | Higher: each crystal is one of a kind | Lower: the most direct way to hold osmium by weight |
| Resale | Valued individually: each piece has its own price | Valued by weight: easier to compare between sellers |
| Suits | Buyers who value rarity and appearance; also set in jewelry | Buyers who want osmium by weight |
Our osmium products
If you want to hold osmium physically, buy it only in crystalline or sintered form. Raw osmium powder and sponge forms osmium tetroxide (OsO₄) in air, while that effect is neglectable for crystals and bars. More on this: Is osmium toxic?
Raw osmium for industrial use: see our industrial services.
Osmium crystals can also be bought on the MetaMetals marketplace, at the asking price (Buy Now) or with a bid below it, which MetaMetals may accept. Bids and purchases above €10,000 require identity verification (KYC).
How do I sell osmium later?
Today osmium is mainly sold privately and via the help of some precious metal dealers. We at MetaMetals want to make selling much easier via our trading solutions. Neither of the route shown is a promise of a price or of how quickly you can sell. Plan to hold osmium for the long term. Also keep the digitally signed certificate of authenticity with the metal since it lets the buyer verify what they are getting.
The MetaMetals marketplace (test phase)
The first version of the MetaMetals marketplace is live as a test phase for osmium crystals. You can buy a crystal at the asking price or place a bid. For now, MetaMetals is the only seller. Reselling by verified owners for all MetaMetals products is planned once the test phase is complete and our development work has been finished. We can't name a specific date for that. Every crystal you buy there is recorded in your account, so it can later be resold or transferred on the marketplace. See the MetaMetals marketplace. More on how osmium prices form.
Tokenized osmium (in development)
We are also developing a way to represent physical osmium crystals digitally, so that ownership can change hands without the crystal leaving the vault. Crystals above 5 g are eligible for MetaMetals Pro Support on the tokenized trading platform. How this works is explained on commodity NFTs. You can follow the development on MetaMetals Pro.
Few suppliers: what this means for buyers
Only a handful of companies sell osmium for investors, and for years osmium crystals came from a single source. That is a market with very little competition. You should know what this means before you buy.
How the market is structured
Osmium is refined and processed by very few companies worldwide. Sintering and especially crystallization takes specialized know-how that took years to develop. As a result, there are only a few suppliers of investment osmium today, and MetaMetals is one of them.
What this means for prices
In markets with one, two or just a few sellers (a monopoly or an oligopoly), prices are usually set by the suppliers, not by competition. Economists describe the typical pattern: prices well above production cost, prices that rarely fall, and smaller suppliers following the price of the largest one. For the same form and weight, prices per gram can differ widely between suppliers. Some forms might also be unique and have only one supplier.
What this means for tradeability
Without a liquid market, selling takes time and the price is negotiated. Some suppliers offer no trading options, and many products are made as collectibles rather than for resale. Check how a product can be traded and how reliable a trading solution is before you buy.
What this means for information
Figures on rarity, production and price history come mostly from the suppliers themselves, and there is little independent data to check them against. Look for sources, compare information, do your own research and be careful with claims that cannot be verified.
How to protect yourself
- Compare the price per gram for the same form, weight and purity, from more than one supplier. Check how products are certified.
- Question your motives: Do you want to collect, invest or create jewelry? It makes a difference whether you expect gains or buy something to look at.
- Ask how you can resell the product later, and try the resale or trading options if they exist.
- Treat a supplier's list price as an offer, not as the market value of your osmium.
- Take your time with investment decisions. If in doubt, ask an independent financial advisor or start with a small test purchase.
What MetaMetals does about it
We publish information on osmium openly, backed by sources and scientific research, so you can check our figures instead of having to trust them. If you have questions, suggestions for improvement or anything else, just get in touch with us.
How MetaMetals addresses each individual risk is shown with that risk in section 1. Specific to a market with few suppliers:
- We keep developing new product forms for different needs, from bars to jewelry-ready crystals.
- We create a life cycle around our products: active reselling for customers, and products that can be made into jewelry later.
- We work with named partners and an experienced team.
- Regulation: we are working on authorisation under the European MiCA regulation for our MetaMetals Pro trading solution.
To be clear: during the test phase, MetaMetals is the only seller on the marketplace, so it does not yet solve the problem of few suppliers. It is a step toward prices set by buyers and sellers rather than by the suppliers alone.
Osmium stocks: can you buy osmium shares?
No. There are no osmium stocks, because no listed company mines osmium as its main product. Osmium is recovered as a by-product when platinum ores are refined, so the closest you can get on the stock exchange is a share in a platinum producer.
The four largest platinum-group-metal producers listed in Johannesburg are the usual choices. In all of them, osmium makes up a tiny share of output and is not reported separately. Their share prices follow platinum, palladium and rhodium, not osmium.
| Company | Share code | ISIN | What it produces |
|---|---|---|---|
| Valterra Platinum (formerly Anglo American Platinum) | JSE: VAL | ZAE000013181 | Platinum group metals. Independent since its demerger from Anglo American in May 2025. |
| Impala Platinum (Implats) | JSE: IMP | ZAE000083648 | Platinum group metals from mines in South Africa and Zimbabwe. |
| Sibanye-Stillwater | JSE: SSW, NYSE: SBSW | ZAE000259701 | Platinum, palladium, rhodium, iridium, ruthenium and gold, in South Africa and the USA. |
| Northam Platinum | JSE: NPH | ZAE000298253 | Platinum group metals and associated base metals. |
Futures and CFDs on osmium do not exist either. And there is no "osmium stock price": the closest thing is the dealer price per gram, which you can follow on the osmium price page.
What this means for you: a platinum mining share is a bet on platinum, not on osmium. If you want to own osmium itself, buy it physically (section 2).
Osmium ETF: is there a fund that holds osmium?
No. There is no osmium ETF, and no fund holds physical osmium. The market is too small (see section 1), osmium has no exchange price, and there is no standard for storing and trading it in large lots, as there is for gold or platinum.
Funds investors use instead
Some investors buy platinum funds or broad mining funds as a substitute. None of them contains osmium.
| Fund | Ticker | ISIN | What it holds |
|---|---|---|---|
| abrdn Physical Platinum Shares ETF | PPLT | US0032601066 | Physical platinum bars in London and Zurich vaults; tracks the platinum price. |
| GraniteShares Platinum Trust | PLTM | US38748T1034 | Physical platinum; tracks the platinum price. |
| iShares MSCI Global Metals & Mining Producers ETF | PICK | US46434G8481 | Shares of around 240 mining companies; gold and silver miners excluded. |
All three are US funds. Private investors in the EU usually cannot buy them through a European broker, because they have no EU key information document; platinum exchange-traded commodities (ETCs) listed in Europe are the local equivalent.
What this means for you: a platinum fund tracks platinum. The only way to hold osmium is to buy it physically (section 2).
FAQ
Is osmium a good investment?
Osmium can be interesting for buyers who plan to hold for many years. It is rare and comes in stable, certified forms, but there is no exchange price and no liquid market yet. Until tradeability improves, we see osmium products as collectibles rather than an investment. Chances and risks in detail: section 1.
Is there an osmium ETF?
No. No fund holds osmium. Platinum funds such as PPLT or PLTM track platinum, not osmium.
Can I buy osmium shares?
No. No listed company mines mainly osmium. Platinum producers such as Valterra Platinum or Implats recover it only as a tiny by-product.
Is there an osmium stock price?
No. Osmium is not traded on an exchange. Suppliers set prices per gram; you can follow them on the osmium price page. On the MetaMetals marketplace, bids on each crystal are public.
How do I sell osmium?
Through a dealer or privately, with the serial number and certificate as proof. On the MetaMetals marketplace, reselling by verified owners will follow after the current test phase (section 3).
How much osmium should I buy?
Only as much as you can hold for many years without needing to sell. Until there is a liquid market, see osmium as a collectible rather than an investment. If in doubt, start with a small test purchase and ask an independent financial advisor.
Rainer Stellnberger holds a BSc in electrical engineering and is co-founder and CTO of MetaMetals. He has profound knowledge in Physics and the science behind the materials MetaMetals produces and trades. As CTO, he is also responsible for the IT and the trading solutions MetaMetals develops.
Disclaimer
This page is for general information only and does not constitute investment, financial, tax or legal advice, nor an offer or recommendation to buy or sell any precious metal, security or fund. The companies and funds named are listed for information only; MetaMetals does not recommend them and has no business relationship with them.
Precious metals can lose value, and you may get back less than you paid. Past price developments are no guarantee of future results. Osmium has no exchange price and limited liquidity, so a sale may take time and the achievable price is not guaranteed. Information about the marketplace and tokenization describes products in a test phase or in development; features and timelines may change.
Before investing, consider your financial situation and objectives and, if in doubt, consult an independent, licensed financial adviser and a tax adviser.