Columns NASA to Explore Asteroid Containing Precious Metals Worth $10,000 Quadrillion Its resources include gold, platinum, iron and nickel. Published 1 year ago on July 17, 2019 By Howard Cohen Credits: Renderings courtesy of SSL/ASU/P. Rubin/NASA/JPL-Caltech. Share Tweet NASA IS GEARING UP for a 2022 mission to “Psyche 16,” an asteroid containing enough precious metal to make everyone on Earth a billionaire. Located between the orbits of Mars and Jupiter, Psyche 16’s natural resources, which include gold, platinum, iron and nickel, are estimated to be worth $10,000 quadrillion. Written out, that number is $10,000 followed by 15 zeros. Before you start wondering what you might do with your billion-dollar bounty, consider the fact that NASA’s mission to Psyche 16 is strictly scientific. The space agency has no immediate plans to do any mining and the asteroid is way too large to tow back to Earth. The traditional earth-bound mining community is wondering out loud what would happen to commodity prices if a huge influx of space gold and platinum suddenly hit the market? It’s also hard to imagine how $10,000 quadrillion in new wealth would merge into a world economy that’s estimated to be worth a mere $75.5 trillion. The space agency and its university partners are excited to explore Psyche 16 because it appears to be stripped to its core — a core made of solid metal. Scientists wonder whether Psyche could be the exposed core of an early planet, perhaps the size of Mars, that lost its rocky outer layers due to violent collisions that occurred while the solar system was forming. Measuring about 140 miles (226 km) in diameter, Psyche 16 is named after the nymph Psyche, who, according to Roman mythology, married Cupid but was put to death by Venus. At Cupid’s request, Jupiter — the king of the Gods — made Psyche immortal. The unique metal asteroid was discovered in 1852 by Italian astronomer Annibale de Gasparis. Advertisement The space agency is set to launch the Psyche spacecraft in 2022 from Florida’s Kennedy Space Center. It will arrive at the asteroid in 2026. While NASA is not looking to capitalize on the precious metal bounty that Psyche 16 could yield, two space mining companies — Deep Space Industries and Planetary Resources — are both looking at smaller, nearby asteroids that could be rich in precious metals. Related Topics: FeaturedHoward Cohen click to Comment(Comment) Up Next How Jewelers Can Defy Amazon with the ‘Best Buy’ Strategy Don't Miss World’s Biggest, Heaviest and Most Valuable Coin to Make US Debut Howard Cohen Howard Cohen is the Shoreham, NY-based editor of The Jeweler Blog, a daily blog ghost-written for retail jewelers. Cohen, a long-time industry veteran, is dedicated to making social media tasks simple and affordable for every jeweler. For more information, visit thejewelerblog.com or contact Cohen at 631-821- 8867, [email protected]. Websites: thejewelerblog.com, thejewelerblog.wordpress.com. Continue Reading Advertisement SPONSORED VIDEO Wilkerson Testimonials A Liquidation Sale during a Pandemic? Wilkerson Showed Them the Way For 25 years, Stafford Jewelers of Cincinnati, Ohio, was THE place to go for special gifts, engagement diamonds, high-end Swiss watch brands — in other words, the crème de la crème of fine jewelry. But this summer, the Stafford family was ready to retire. So, they chose Wilkerson to help them close up shop. “One of the biggest concerns was having the sale in the middle of COVID,” says Director of Stores Michelle Randle. Wilkerson gave the Stafford team plenty of ideas as well as safety guidelines, which they closely followed. “All of the employees felt safe, the customers coming in the door felt safe and we did a lot of business,” says Randle. How much business? “The inventory flew,” she says. Translation: They sold millions and millions of dollars-worth of merchandise. Randle calls it, “an incredible experience.” Would she recommend Wilkerson to other retailers who are thinking of thinning their inventories or retiring? “Everyone got more than what they expected out of the sale. You have to hire Wilkerson. They’re amazing.” You may like Fancy Pink Diamonds Have Soared 116% in Value in the Past 10 Years New Mineral & Gem Museum Features World-Class Collection of Exotic Finds That Weird ‘Diamond in a Diamond’ Isn’t for Sale. It Will Go Here Instead … Promoted Headlines JYE’S International is Seen in All the Best Cases The Sylvie Collection Knows What Women Want Sylvie Collection From Chain to Casting, National Chain Group Does It All National Chain Group Advertisement Latest Trending Videos Press Releases4 hours ago New PGI-Commissioned Study Offers Retailers Insights Into How to Ease Customers’ Concerns Over COVID During the Holiday Season Press Releases8 hours ago Accutron Lights Up Empire State Building Celebrating 60th Anniversary Press Releases8 hours ago Industry Experts Gather for Collaboration on Ethics and Sustainability in Gold and Diamond Enterprise Press Releases8 hours ago Analytical Gemology and Jewelry Head Says GIA Is “Wrong” to Grade Lab-Grown Diamonds the Same as Mined” Big Survey11 hours ago 25% of Jewelers Are Drinking More This Year Because of COVID-19 Big Survey3 weeks ago Jewelers Plan to Vote for This Presidential Candidate on Nov. 3 Benchmarks4 weeks ago 13 Jewelry Store Shop Areas That Put Bench Jewelers Center Stage Products4 weeks ago The Overlooked Jewelry Trend Started By Princess Beatrice At Her Wedding Press Releases4 weeks ago 9-Carat Diamond Found at Crater of Diamonds State Park Headlines3 weeks ago CNN Delves Into Lab-Grown Diamond Debate Sponsored Content1 week ago A Liquidation Sale during a Pandemic? Wilkerson Showed Them the Way Sponsored Webinars2 weeks ago Podium Presents: 5 Crucial Customer Experience Improvements to Make as You Reopen Jimmy Degroot2 weeks ago Video: How to Smooth Out the Chaos in Your Jewelry Store and Create Harmony Instead Jim Ackerman4 weeks ago Video: Don’t Be Afraid to Run Multiple Jewelry Marketing Promotions at Once Jim Ackerman1 month ago Video: How to Spend Your Jewelry-Business Advertising Budget the Right Way Advertisement Advertisement SubscribeBULLETINS INSTORE helps you become a better jeweler with the biggest daily news headlines and useful tips. (Mailed 5x per week.) Latest Comments Most Popular Big Survey1 week ago These Are the Top Watch Brands of 2020, According to INSTORE’s Big Survey Big Survey1 week ago The Guy Who Bought 13 Rings, and Other Tales of Serial Engagements Photo Gallery3 days ago 12 Photos That Show Off the Wow Factor at Thollot Diamonds & Fine Jewelry in Colorado Big Survey1 week ago COVID-19 Has Some Silver Linings for Jewelers — Here Are the Upsides Big Survey7 days ago 7 Out of 10 Jewelers Surveyed Said They Do Not Want to Add a Brand Sponsored Content1 week ago A Liquidation Sale during a Pandemic? Wilkerson Showed Them the Way Big Survey5 days ago What’s Wrong with Millennials? Here’s What Jewelers Say Sponsored Content1 week ago Why Have 1,800+ Jewelers Switched to BriteCo?