We have all been there when recently engaged young women show off their new “rocks” to friends or work colleagues. “How big is the diamond?” has been the most important question that people want to know (or are too respectful to ask) at those times. Yet a recent article in MarketWatch.com, “J-Lo’s engagement ring is reportedly worth $1 million — is it time to ditch the diamond?” implies that young people today are losing interest in how big a diamond is in an engagement ring, or what it is worth.

After you send your platinum scrap to Specialty Metals Smelters and Refiners and we extract the pure platinum it contains, where will that platinum be used?

Let’s face it. Engagements have a way of not working out and when they don’t, many women end up with a valuable platinum engagement ring. If you find yourself in that situation, what should you do with your old ring, which could be worth a lot of money?

Why look at online auction sites? Simply because they offer you the fastest way to examine hundreds and hundreds of different items that are for sale. You don’t have to travel to antique malls, estate sales, or live auctions. Just fire up your computer and start looking. 

Many people who collect precious metals fail to recognize platinum when they see it. They come across an old ring or other white metal item at an estate sale or antique store, assume that it is made of silver, and pass it by. With platinum trading at about $1,000/oz. at the time of this post, and silver at only about $16, that is a very costly mistake to make. Let’s take a look at some of the common misconceptions about platinum that could cause you to miss it.