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.
The main reason for this is that precious metals are priced by weight, and platinum is much denser than gold, meaning it will be heavier. Another reason why platinum rings are more valuable than gold is because the metal is much rarer.
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.
The rarity of platinum is what makes it valuable. Just as in everything else, when there is greater demand compared to supply, the value of object increases. The same can be said for platinum. Compared to many metals, both gold and platinum are rare.
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.
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.
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.
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.
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. Singles have the same criteria with sales and streaming (100 streams amount to one digital download).
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).
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.
Platinum, gold & silver
Known as the precious metals, platinum, gold and silver are all pure metals, therefore they contain no iron and cannot rust. Platinum and gold are highly non-reactive, and although silver can tarnish, it is fairly corrosion-resistant and relatively affordable by comparison.
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.
The simplest tests are heating and discoloration. If the item is heated, for example, in a Bunsen flame, platinum will be more difficult or impossible to melt and the platinum will not discolour. The effect of acid is another basic test. None of the common acids will attack Pt.
RHODIUM: TOP MOST VALUABLE METAL
Rhodium is the most valuable metal and exists within the platinum group of metals. It is used in jewelry for a final finish on white gold jewelry.
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.
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.
Due to positive macroeconomic and fundamental drivers, we expect platinum to be a profitable investment in 2023. Supply-side constraints and consumption supported by increased regulations aiming at reducing pollution in the automotive industry will tighten the market balance of the platinum market.
Silver is the leading metal with hopes of shining and rising in 2023. However, it cannot surpass gold. Gold is a somewhat stable coin and currently values five times an ounce of silver. 2023 seems like a good year for silver.
Gold, silver, platinum, Palladium, and copper are great for starting your best investment in 2023.
Safe Haven Asset and Recession Fears: In times of economic uncertainty investors often turn to gold and silver as safe-haven assets.
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.
Rarity and durability make the true white metal appealing to people searching for understated class. Resilient, beautiful and pure: platinum is all these, giving it an appeal that jewellery made of gold, silver and diamonds lacks. Platinum withstands daily wear, as it is one of the strongest natural materials.
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 easier to maintain over time than white gold. Platinum is also the most hypoallergenic of all metals, because of its purity. Platinum is made of 95% pure platinum, where white gold is made out of 75% pure gold, and 25% other metals.