About Platinum

We frequently receive requests to estimate the cost of various items in silver or platinum. The significant price difference between these two metals often shocks people - many respond saying they had no idea platinum could be more expensive, having considered it "similar to silver".

So what exactly is platinum? And why is it so expensive?

Let's examine the key characteristics of this metal:

• Platinum (Pt) is a silvery-white metal. It occurs naturally in ore deposits and in native form. 
• It's a rare and the most expensive precious metal, mined in only a few countries worldwide. South Africa is currently the primary producer. 
• Platinum mining is extremely challenging: to obtain one ounce of platinum (31.1 grams), miners must process over 10 tons of ore. For comparison, gold requires about 3 tons of ore per ounce.
• Platinum is virtually impurity-free and doesn't change color, never tarnishes and requires no plating. For instance, white gold needs rhodium plating to achieve its metallic appearance as its natural color has a warm yellowish hue. 
• 950 platinum is used in jewelry making, consisting of 95% platinum and just 5% other metals. These typically include palladium (which slightly alters platinum's color) and iridium (which increases the alloy's strength).
• Platinum is hypoallergenic.
• Due to its high density, a platinum ring feels substantially more substantial on the finger than a gold one.
• While relatively soft and requiring careful handling (it can deform under strong impact), its high density and weight make it exceptionally durable for stone settings. 
• Can serve as a good investment since platinum prices continue rising! Recent data shows demand significantly outstrips supply.

Certainly not an inexpensive pleasure. Platinum rings typically cost twice as much as gold ones. But as the L'Oréal slogan goes:

"Because you're worth it" :)