Platinum is commonly used in jewellery and electronics. Although this precious metal looks great and is an excellent conductor, it has no magnetic properties.
Generally platinum is not magnetic. However, it depends on the platinum alloy: if the platinum is mixed with ruthenium, iridium or palladium then no, none of these are magnetic; if it's mixed with cobalt then yes, cobalt is magnetic so, theoretically, platinum can be attracted by a very powerful magnet.
Can Platinum be attracted to a magnet? In its purest form, Platinum is a paramagnetic metal. This means that its magnetic element is so weak that it is barely traceable and will not react to magnets. However, pure platinum is considered a precious metal and is one of the rarest materials on earth.
Platinum is a very rare and expensive metal. Therefore, all platinum jewelry will be marked to show authenticity. Look for the words “Platinum," “PLAT," or “PT” followed or preceded by the numbers “950” or “999." These numbers refer to the purity of the platinum, with “999” as the most pure.
While at first glance both silver and platinum appear silver in color, the two metals are actually easily discernible to the naked eye. Both have gray undertones, unlike white gold which has a warmer, yellow undertone, but platinum is much brighter and shinier and silver has a duller, gray appearance.
Platinum is an alternative to white gold and silver for people who like jewelry made in a white metal. Platinum is the most expensive of the standard three precious metals, but also often considered the most prestigious.
Each piece of platinum jewellery comes with a Quality Assurance Card and bears the purity hallmark of “Pt 950” stamped inside the piece.
Platinum does not fade, tarnish, or turn color.
It also may be the most obvious and most debatable: stainless steel looks very similar to white gold and platinum, so much so that there isn't much reason to use either of the latter.
In appearance, platinum is silvery-white and shiny. Because it looks so similar to white gold, the distinction can be confusing to the untrained eye.
Yes. Platinum and white gold are both shiny, but platinum is shinier because it reflects more visible light than gold. Most white gold alloys used for jewelry contain at least 58.3% gold content, which makes them less shiny than platinum. However, keep in mind that polished metals shine more than unpolished metals.
Myth Six: “Metal detectors cannot find platinum.”
This is wrong. Metal detectors can find platinum items that are buried underground or covered with sand. The thing is, people who use detectors don't find these items very often, because statistically speaking, they are rare.
Platinum has a hardness of 4 – 4.5 on the Mohs scale of hardness. Basically, this means it can be scratched by any harder material.
Even platinum which is naturally a heavier and harder metal than gold will be prone to scratches and scuffs.
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).
Price. Platinum: Despite being nearly identical in appearance, platinum is more valuable than gold. Platinum's high price point can be attributed to its rarity and density as precious metals are often priced by their weight.
Platinum alloys are very pure and will not corrode, discolor or tarnish. It is naturally white so it won't fade to a yellow or change color over time. It's neutral white color complements every diamond and gemstone color. Unlike white gold it does not require rhodium plating to maintain its whiteness.
Platinum jewelry should be stamped “PT” for pure platinum or “PT900” or “PT950,” indicating the number of parts per thousand that are pure platinum.
As we explained earlier, “925” means that 92.5% of the metal in the item you are looking at is gold, silver or platinum. That means that 7.5% of its content is made up of other metals. In other words, you are looking at an alloy.
To clean your platinum jewelry, mix the dish soap and a couple drops of ammonia in warm water. Add your platinum jewelry and let it soak for a minute or two, or leave it for up to ten minutes for intricate or especially dirty pieces. Use the toothbrush to scrub your jewelry gently.
If you look at the material value of precious metals, platinum sits at the top. The shiny white metal is considered a strong symbol of value and quality. The supply of platinum is much lower vs that of gold. It's also far more difficult to extract than the yellow metal.
Platinum Tends to Have a Poor Resale Value
The main reason is because a relatively small number of people are willing to buy it. This doesn't mean you can't find a reputable buyer, but you'll need to do some searching as you explore your options.
HARDER, BETTER, RARER, STRONGER
Whilst 1,500 tons of gold are mined annually, only 160 tons of platinum are extracted. Platinum is also denser than gold, thus heavier. Because precious metals are priced by weight, platinum has long been the high-cost option in the context of buying jewellery.