Platinum
Platinum is one of the strongest metals on Earth that is resistant to corrosion with a high density making it heavier than many metals including gold. In its pure form, platinum has a shiny, silvery-white appearance and is malleable and ductile.
Due to its strength and the fact that platinum does not oxidize at any temperature it is resistant to tarnish and wear, making it ideal for use in jewelry. Furthermore, these same properties have also led to platinum having a wide range of industrial applications as well.
- History
Unlike other precious metals, there is very little evidence of it having been used by ancient people with the first European reference dating back only to 1557, when Julius Caesar Scaliger referred to it as a noble metal that was not known that the Spaniards could not melt, whatever they tried. It seems that they first discovered it in the alluvial deposits of Rio Pinto, Colombia.
However, artifacts made from a white gold – platinum alloy from the pre-Columbian era of the Americas were also found near Esmaraldas in Ecuador.
- The Value of Platinum
Platinum is, in fact, only one of a group of six metals that make up the platinum family of metals. These are platinum, osmium, rhodium, ruthenium, iridium and palladium. If alloyed with other members of its family, platinum’s properties change as it can become harder, if mixed with iridium and ruthenium, or even volatile, if mixed with osmium.
Due to its strength, platinum is often used as a setting for precious stones including some of the most famous diamonds in the world, including the Hope and the Koh-I-Noor. This is because no matter how often platinum is scratched it will not wear down, making it the most secure setting.
Additionally, platinum is a popular setting for diamonds because it does not tint the diamond, as gold often does, making it look like a lower grade than it actually is. Currently, platinum has a higher value than gold and even though it is used in a wide range of industrial applications, platinum jewelry is more expensive than gold because of its rarity. Only 160 tons of platinum are mined annually versus 1,500 tons of gold and to obtain a single ounce of platinum over ten tons of ore have to be mined, which shows exactly how rare and difficult to obtain this precious metal is.
- Pricing
The price of platinum increases as bullion tends to be quite volatile, depending on the stability of the economy. The more stable the economy, the higher the demand for platinum in both industrial and commercial uses, the higher the price will be.
While the price of platinum jewelry is not as affected by this volatility, there is still somewhat of an impact. However, like with all jewelry, besides the price of the metal, the value of the piece is also given by its weight, beauty and the quality of the workmanship. The more stunning the piece and the more elaborate the design, the higher the price it will fetch. However, no matter the economic situation, platinum jewelry will always be more expensive than gold.
- Tips for Buying Platinum Jewelry
When buying platinum jewelry, you need to ensure that you are indeed buying platinum and not another metal that looks similar. You can do this by checking the platinum content of the piece as this is usually marked as “950Pt” or “Plat”. In the U.S., for a piece of platinum jewelry to be marked “Plat” it must be made up of at least 95 percent platinum.
- Caring for Platinum
Since platinum is much stronger than gold or silver, it doesn’t require such delicate care. Therefore, you can confidently wear platinum jewelry regularly because it is quite resistant to wear and tear.
To clean your platinum jewelry, all you have to do is soak it in warm, soapy water and scrub it gently with a soft brush. This is all that is needed to maintain the shine of your platinum pieces.
