It is the most durable metal used to make jewellery. Platinum should last a lifetime and you should not have to reset your platinum engagement ring. Platinum is a naturally white metal that is highly resistant to tarnish.
Platinum does not fade, tarnish, or turn color. However, with age, it does take on a patina and show slight scratches.
Platinum is extremely durable and strong making it ideal for jewellery that's worn on a daily basis. It's highly resistant to stress and withstands both extreme heat and extreme cold, which means platinum jewellery will retain its good looks better than any other metal.
Approximately 88 tons of platinum are used to make jewelry every year compared to 2,700 tons of gold. Because of its rarity, platinum is valuable and will hold its value as the years pass.
Gold: Strength and Durability. While both precious metals are strong, platinum is more durable than gold. Its high density and chemical composition make it less likely to break than gold, so it lasts longer.
Can you wear platinum in the shower? A similar scenario to gold, you should refrain from wearing your platinum jewelry in the shower as it will reduce its shine and luster. Water itself will not harm the platinum, but it well affect the overall look of it down the road.
Some investors may want to prioritize stability and long-term investing. In that case, gold is likely the better option. The precious metal has a longstanding history of reliable demand which often spikes during economic downturns. On the other hand, platinum usually performs better during times of economic growth.
Experts posit that platinum is about 15–20 times scarcer than gold and approximately 60–100 times scarcer than silver, on the basis of annual mine production. Since 2014, platinum prices have fallen lower than gold. Approximately 75% of global platinum is mined in South Africa.
The only disadvantages to platinum are the higher cost and heavier weight. For example, platinum is a great metal for necklaces, bracelets and rings but not earrings, because the heavy weight may pull down more on your ears and cause discomfort.
The metal helps to neutralize harmful emissions in vehicles and so tighter emissions legislations and increased popularity of hybrid vehicles only puts a greater squeeze on platinum demand. Global automotive demand for platinum is expected to increase by 10% in 2023 to 3.246 million ounces, according to the WPIC.
Why: working out with your jewelry on introduces risk to your pieces. The metals that many rings are made of--gold, sterling silver, and platinum--can be bent from the impact of lifting weights or using exercise machines.
But platinum can bend, too. It's not indestructible. Another reason you should avoid wearing your engagement ring to bed is that blankets, sheets, and hair can snag on your ring, which can pull and loosen prongs. Of course, wearing your ring to bed a few times likely won't cause a ton of damage.
If your jewelry is made completely from platinum or palladium, you have nothing to fear from chlorine. But a word of caution! Make sure your jewelry is completely made from platinum or palladium. If it contains any silver or karat gold, you must take it off or risk damage.
To be considered platinum, a piece must contain 95% or more of the metal, making it one of the purest precious metals you can buy. Over time, platinum will fade in a different way. It won't turn yellow, like yellow gold; but, it will begin to lose its shiny finish and build a natural patina (more on this in a bit).
If a high shine is preferred, your jeweler can bring it back to its original luster using professional polishing tools. Remember: Platinum will always retain its original bright, white color.
Even platinum which is naturally a heavier and harder metal than gold will be prone to scratches and scuffs.
On the downside, platinum is very expensive to purchase and repair, and some jewelers cannot even work with the metal because they don't have the equipment, materials, or experience to deal with its unique chemical properties.
Platinum is considered a biologically compatible metal because it is non-toxic and stable, so it does not react with, or negatively affect body tissues. Recent research has also shown platinum to inhibit the growth of certain cancerous cells.
Platinum does not wear away and holds precious stones firmly and securely. In short, Platinum prongs are better protection for diamonds. Like all precious metals, Platinum scratches.
Platinum is generally valued higher than gold. This is because platinum is rarer than gold, has a higher density and is purer. Platinum rings require more platinum than gold rings require gold, which can increase the overall cost.
Platinum Coins
Platinum bullion in the form of coins is fairly easy to sell. This is because the quality and purity of officially minted coins is often guaranteed or clearly documented, especially if you made your purchase from a reputable source.
Why? Because a gold, or platinum—or, better still, multiplatinum—record means financial success. These awards, given by the Recording Industry Association of America (RIAA), represent huge sales—500,000 units for gold, 1 million for platinum, 2 million or more for multiplatinum, and 10 million for diamond.
Gold: The Traditional Safe Haven
Gold has long been considered a safe haven asset due to its limited supply and historical stability. It's also seen as a hedge against inflation and currency devaluation, which makes it especially appealing during periods of economic uncertainty.
Platinum selling works very similar to any other precious metal. A personal seller needs to have a bit of understanding what's going on with the given metal market before getting started. Like gold or silver, platinum has an investment value as well as an industrial use noted above.
RHODIUM: TOP MOST VALUABLE METAL
Rhodium is the most valuable metal and exists within the platinum group of metals.