When we first set out on this project we assumed iron would likely be the cheapest ounce bar we would have but were quickly surprised that this was far from the case. It starts to make sense once you know a little of what goes on behind the scenes. Iron, the most widely available of all metals by a long shot, is found literally everywhere. Look at a pile of red dirt and you are seeing, basically, a pile of rust.

But being common is only part of the equation. All those thousands of steel factories across the globe are making steel; an alloy of iron with other ingredients. Pure iron, as it turns out, is not very useful since it rusts so easily and refineries spend no great effort in clearing out the impurities which, after all, are in most cases going to be added right back in. 99.9% pure iron is something made in a lab which automatically places it as a luxury type of commodity because the technicians are more highly trained and use much more sophisticated equipment to turn out a relatively small quantity.

In the end, if you wanted a piece of steel that was “only” 98% pure iron an ounce of it may cost literally just a few pennies. If you need it to be truly pure iron, as you can see, and the price jumps way ahead (though is, of course, still quite affordable compared to most other metals!)