What You Need to Know about Profiting from Platinum Jewelry
With platinum trading at nearly $1,200, it stands to reason that you can make money by buying platinum items and platinum scrap and sending it to us to be recycled.
You can also profit handsomely by buying up and recycling platinum jewelry. But what kinds of platinum jewelry should you be on the lookout for, and how much platinum do they contain? Let’s explore further.
Why Is Platinum Desirable for Use in Jewelry?
Platinum has a beautiful white finish. Can platinum jewelry scratch? Actually, it can. Can it tarnish? Again, yes it can – over time, pure platinum can develop a silvery patina that many people find attractive.
But in general, platinum alloys are used to make jewelry tarnish-resistant, white, and beautiful. Another reason people like platinum jewelry – especially wedding and engagement rings – is that it is both expensive and luxurious. When people decide to buy a platinum engagement ring, they are saying that they are making a commitment to each other that will stand the test of time.
Another reason people favor platinum engagement rings is that diamonds can look especially beautiful when they are set in platinum rings. The stone’s brilliance stands out nicely against the brilliant white metal.
Are Platinum Engagement and Wedding Rings Made of Pure Platinum?
In general, platinum rings are made of either 85%, 90%, or 95% platinum. How much platinum do they contain?
In general, don’t rely on information that is included in the packaging. Even if your platinum items are packaged in boxes or other packaging that states that they are made of platinum, don’t believe it unless the items themselves are stamped with markings like “platinum,” “plat” or “pt.”
If an item is simply stamped as “platinum,” “plat,” or “pt.” with no other markings, that means that it contains at least 95% pure platinum - if it was manufactured recently and legally sold in America. If it is stamped with “850Plat,” that means that it contains 85% pure platinum.
Note that sometimes jewelry that has been imported from other countries might not have markings or the correct markings. This is especially likely if you are looking at a piece of jewelry that was brought into our country as an item of personal jewelry, not imported for sale.
Understanding Stampings
Sometimes stampings will indicate that other metals are present in the jewelry too. For example:
800 Pt. 200 Pd. indicates 80% pure platinum and 20% palladium
750 Pt. 250 Rh. Indicates 75% pure platinum and 25% rhodium
600 Pt. 350 Ir. Indicates 60% pure platinum and 35% iridium
What Pieces of Jewelry Are Most Likely to Contain Platinum?
Platinum engagement and wedding rings are the most common forms of jewelry that are made of platinum. You will also find that platinum can be found in watch cases and other forms of jewelry, including pins that have diamonds or other gemstones, mounted in them.
Is There Such a Thing as Platinum-Rhodium Jewelry?
As we wrote above, a stamping that indicates 750 Pt. 250 Rh is telling you that the item you are looking at contains both platinum and rhodium. But to tell you the truth, we have never seen platinum-rhodium jewelry, and you are unlikely to ever see it either. Why? Because with Rhodium trading at nearly $20,000, why would anyone bother to alloy it with platinum to make a white ring or another piece of jewelry? Especially when you consider the fact that rhodium, which is a white metal like platinum, will not add anything to the appearance of the alloy that results.
The same is true of palladium, that other white metal, which is currently trading for more than twice the price of platinum.
What About White Gold?
Yes, it is called white gold. But in many cases, it is an alloy that is made up of both gold and platinum, which is added to give the alloy a white color. (White gold can also contain other white metals such as silver and zinc.)
This can get confusing because gold is generally only stamped with a karat rating, which indicates the percentage of gold, but which doesn’t tell you what other metals are part of the alloy.
How can you tell how much platinum or other metals have been used to formulate the white gold you are looking at? Simple answer, you send it to Specialty Metals Smelters and Refiners and have us test it for you. Call us at 800-426-2344 to learn more.